“The vitamin & mineral premixes market is projected to grow at a CAGR of 5.2%.”
The vitamin & mineral premixes market is estimated at USD 6.93 billion in 2017 and is projected to reach USD 8.93 billion by 2022, at a CAGR of 5.2% from 2017, in terms of value. The growth of this market is attributed to the growing demand for fortified food & beverage products, the rise in consumption of compound feed, the growing need for food enrichment due to high processing levels of food products, and customized nature & specificity to individual customer requirements. High costs of fortified and enriched products, strict regulatory policies for feed fortification, and involvement of high costs for R&D activities are some of the restraining factors affecting the growth of this market.
“The feed segment to dominate the vitamin & mineral premixes market through 2022.”
In 2017, the feed segment accounted for the largest share of the vitamin & mineral premixes market, in terms of value. Insufficient nutrition is a major cause of low live-weight gains, infertility, low milk yields, and other health issues in animals. Premixing ensures the right blend of all micro-ingredients?in the right proportion, purity, form, distribution, and potency?required in the complete animal feed. Increase in consumer awareness regarding required pet nutrition has led to the demand for specialty nutrition and condition-specific pet health formulas such as vitamin & minerals premixes for feed applications.
“The vitamin & mineral combinations segment is estimated to dominate and grow at the highest rate in the vitamin & mineral premixes market in 2017.”
The large market share of vitamin & mineral combinations in various food & feed applications can be attributed to these products being a cost-effective solution to customers and availability of multiple nutrients to humans and animals. The market for vitamin & mineral combinations segment is estimated to grow at a significant rate due to the prevalence of vitamin and mineral deficiencies, anemia in developing countries and increased consumer preferences for blends of different functional ingredients. Leading manufacturers are tapping this opportunity and addressing the malnutrition by introducing blends of vitamin & mineral premixes for a wide range of applications.
“North America is estimated to be the largest market for vitamin & mineral premixes in 2017.”
North America accounted for the largest share in 2017, in terms of value. The demand for healthy foods and functional foods & beverages has increased, owing to the low level of exposure to essential nutrients caused by the high consumption of processed & convenience foods due to the consumers’ busy lifestyles. Hence, the demand for vitamin & mineral premixes is expected to increase in the future with the increased feed production. Vitamin & mineral premixes are increasingly used in new product applications such as cereal-based products, dairy products, nutritional foods, beverages, infant formulas, and dietary supplements.
Break-up of Primaries:
- By Company Type: Tier 1 – 45%, Tier 2 – 33%, and Tier 3 – 22%
- By Designation: C - level – 45%, D - Level –33%, and Others* – 22%
- By Region: North America – 11%, Europe – 11%, Asia Pacific – 45%, and RoW** - 33%
*Others include sales managers, marketing managers, and product managers.
**RoW includes the Middle East and Africa.
The leading players in the vitamin & mineral premixes market are DSM (Netherlands), Corbion (Netherlands), Glanbia (Ireland), Vitablend Nederland (Netherlands), Watson (US), SternVitamin (Germany), The Wright Group (US), Zagro Asia (Singapore), Nutreco (Netherlands), Farbest-Tallman Foods Corporation (US), Burkmann Industries (US), and Bar-Magen (Israel).
The vitamin & mineral premixes market is segmented on the basis of type, application, form, and region. The type sector is segmented into vitamins, minerals, and vitamin & mineral combinations. The application segment is divided into food & beverages, feed, healthcare, and personal care. The source segment is divided into powder and liquid. On the basis of region, the market is segmented into North America, Europe, Asia Pacific, and the Rest of the World (RoW). The report also includes an in-depth competitive analysis of the key players in the market along with their company profiles, competitive leadership mapping, recent developments, and key market strategies.
Key Benefits of Buying the Report:
- To get a comprehensive overview of the vitamin & mineral premixes market with specific reference to different application markets
- To gain a wide range of information about the top players in this industry, their products portfolios, and key strategies adopted by them
- To gain insights of the major regions/countries in which the vitamin & mineral premixes industry is flourishing