Vitamin And Mineral Premixes Market

According to Stratistics MRC, the Global Vitamin and Mineral Premixes Market is accounted for $9.0 billion in 2023 and is expected to reach $14.3 billion by 2030 growing at a CAGR of 6.8% during the forecast period. Vitamin and mineral premixes are pre-blended formulations of essential vitamins, minerals, and other nutrients designed for incorporation into various food and beverage products. These premixes ensure consistent and accurate fortification, address nutritional deficiencies, and enhance the nutritional profile of finished goods. They are widely used in the food processing industry to meet regulatory requirements and consumer demand for fortified products.

According to the National Center for Biotechnology Information (NCBI), a US-based National Library of Medicine, it was projected that by the year 2050, the number of individuals aged 50 years and older who have at least one chronic illness will surge by 99.5%, rising from 71.52 million in 2020 to 142.66 million.

Market Dynamics: 

Driver: 

Increasing health consciousness

Increasing health consciousness among consumers is a significant driver in the vitamin and mineral premixes market. As individuals become more aware of the importance of balanced nutrition for overall well-being, there is a growing demand for products fortified with essential vitamins and minerals. Consumers are actively seeking out fortified foods, beverages, and dietary supplements to address nutritional gaps and support their health goals. This trend is propelling the market for premixes as manufacturers respond to the need for convenient and effective ways to deliver essential nutrients to health-conscious consumers.

Restraint:

Concerns regarding overconsumption

Excessive intake of vitamins and minerals beyond recommended levels can lead to adverse health effects, including toxicity and imbalances. This concern not only affects consumer confidence but also prompts regulatory scrutiny and tighter controls on fortification levels. Moreover, misinformation or a lack of awareness about proper dosage and the potential risks of overconsumption further exacerbate this restraint. 

Opportunity:

Rising demand from food and beverage industry

As consumers increasingly prioritize health and wellness, food and beverage manufacturers are incorporating more fortification into their products to meet this demand. This trend is driven by the desire for nutritionally enhanced foods and beverages that offer added health benefits. As a result, the market for vitamin and mineral premixes is expanding rapidly, with manufacturers seeking to capitalize on this opportunity by offering innovative solutions to meet evolving consumer preferences.

Threat:

Competition from natural sources

With growing consumer preference for natural and organic products, manufacturers of synthetic premixes face challenges in maintaining market share. Natural alternatives, such as whole foods and fortified natural ingredients, appeal to health-conscious consumers seeking minimally processed options. Moreover, advancements in extraction and formulation technologies enable the creation of potent natural supplements.

Covid-19 Impact: 

The COVID-19 pandemic has affected the vitamin and mineral premixes market by disrupting supply chains, causing production delays, and impacting consumer demand. With a heightened focus on health and immunity, there's increased interest in fortifying food products with essential vitamins and minerals. However, economic uncertainties and shifting consumer priorities have influenced purchasing behavior, leading to fluctuations in market dynamics and product preferences.

The food and beverage segment is expected to be the largest during the forecast period

In the forecast period, the food and beverage segment is anticipated to dominate the vitamin and mineral premixes market owing to rising consumer awareness regarding health and nutrition, which has led to increased demand for fortified food and beverage products. Moreover, manufacturers are actively incorporating premixes into various food and beverage formulations to enhance nutritional value and meet consumer preferences. Additionally, the convenience and accessibility of fortified food and beverage options further drive growth in this segment, making it the largest contributor to market revenue.

The immunity support segment is expected to have the highest CAGR during the forecast period

The immunity support segment is projected to experience the highest CAGR during the forecast period in the Vitamin and Mineral Premixes Market. This growth is driven by rising consumer awareness and demand for products that boost immune health, especially in the wake of the COVID-19 pandemic. Consumers are increasingly seeking fortified food and beverage products containing vitamins and minerals known to support immune function, driving the expansion of this segment within the market.

Region with largest share:

Asia Pacific is positioned to sustain its leadership in the vitamin and mineral premixes market due to several factors. The region's large population, increasing disposable income, and growing health awareness are driving demand for fortified food and beverages. Additionally, rapid urbanization and changing dietary patterns contribute to market growth. Moreover, government initiatives promoting nutrition and wellness further stimulate the market. With expanding economies and a focus on preventive healthcare, Asia-Pacific is expected to maintain its dominant position in the global premix market.

Region with highest CAGR:

North America is poised for rapid growth in the vitamin and mineral premixes market. These include increasing consumer awareness of the importance of nutrition and wellness, a growing aging population seeking preventative healthcare solutions, and a rising demand for fortified food and beverage products. Moreover, the region boasts a strong infrastructure for research and development, innovation in food technology, and a well-established regulatory framework, all of which contribute to the favorable growth prospects in the North American market.

Key players in the market

Some of the key players in Vitamin and Mineral Premixes Market include ADM Animal Nutrition, Barentz International BV, BASF SE, Corbion N.V., De Heus Animal Nutrition, DSM Nutritional Products AG, Farbest Brands, Glanbia plc, GlaxoSmithKline plc, Hexagon Nutrition Pvt. Ltd., Jubilant Life Sciences Ltd., Lycored Ltd., Nutreco N.V., NutriScience Innovations LLC, Prinova Group LLC, Royal FrieslandCampina N.V. , SternLife GmbH & Co. KG, Vitablend Nederland B.V., Watson Inc. and Zagro Asia Limited.

Key Developments:

In November 2022, De Heus opened a facility in Vietnam that produces feed premix. This facility will be the first in Asia to distribute De Heus' vitamins and dietary supplements to Vietnam.

In September 2022, Premix introduces a novel purging substance to the market; the new PRE-PRG, based on natural fiber, enables more environmentally friendly cleaning of machine lines.

In June 2022, DSM (Netherlands) launched the world’s first bio-based Vitamin A to find extensive applications in cosmetics and personal care products. This aligns with DSM’s vision to make its products carbon-neutral by 2050.

Types Covered:
• Vitamin Premixes
• Mineral Premixes
• Vitamin & Mineral Combinations

Forms Covered:
• Powder
• Liquid

Functionalities Covered:
• Bone Health
• Digestion & Gut Health
• Energy & Metabolism
• Immunity Support
• Skin Health
• Other Functionalities

Applications Covered:
• Food and Beverage
• Pharmaceuticals
• Animal Feed
• Other Applications

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan        
o China        
o India        
o Australia  
o New Zealand
o South Korea
o Rest of Asia Pacific    
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa 
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings: 
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances