New York, United States , April 20, 2023 (GLOBE NEWSWIRE) -- The Global Vitamin & Mineral Premixes Market Size is To Grow from USD 7.1 Billion in 2022 to USD 13.1 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 6.3% during the projected period. Several factors are driving the market for vitamin and mineral premixes, including growing awareness of the importance of proper nutrition, rising demand for fortified foods and beverages, and the rising prevalence of chronic diseases.
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Vitamin and mineral premixes can be used to boost the nutritional value of food, feed additives, food and health supplements, medical products, and a variety of other products. Personal care, food and beverage, animal food, healthcare, and cosmetics are among the industries where these are in high demand. Vitamin and mineral premixes have become necessary ingredients in pet food. They are used to improve the nutritional content of pet food as well as to meet the nutritional requirements of the animal. Furthermore, since the pandemic's outbreak, consumers all over the world have become more concerned about their health and have started taking a variety of nutritional supplements. These trends are anticipated to rising demand for vitamin and mineral premixes over the study period. Technological advancements have made it easier to formulate and manufacture vitamin and mineral premixes. This has resulted in the development of new and innovative products capable of meeting the changing nutritional needs of both consumers and animals. However, For the manufacturing of vitamin and mineral premixes, high-quality ingredients and modern techniques are required. The high production costs of premixes may limit their use among small and medium-sized businesses.
Browse key industry insights spread across 200 pages with 122 market data tables and figures & charts from the report on "Global Vitamin & Mineral Premixes Market Size, Share, and COVID-19 Impact Analysis, By Type (Vitamins, Minerals, Vitamin & Mineral Combinations), By Form (Dry and Liquid), By Application (Healthcare, Food & Beverages, Feed, and Cosmetics & Personal Care), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032" Get Detailed Report Description Here:
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The vitamin and mineral combination segment are anticipated to grow at the fastest rate during the projected timeline.
The global vitamin & mineral premixes market is classified into vitamins, minerals, and vitamin & mineral combinations. Among these, the vitamin and mineral combination segment is expected to grow the fastest over the forecast period. The market for vitamin and mineral premixes is expected to expand further due to rising demand for nutritional supplements and functional foods. The popularity of vitamin and mineral premixes over independently made vitamin and mineral premixes can be related to the rising customer preference for blends of diverse functional components to achieve good health.
The dry form segment is expected to hold the largest share in the vitamin and minerals premixes market during the forecast period.
The global vitamin and mineral premixes market are differentiated into two types: dry form and liquid form. Among these, the dry form segment is expected to dominate the vitamin and mineral premixes market during the forecast period. The growth can be attributed due to powdered premixes' convenient packaging reducing supply chain complexities, leading to their increased popularity.
The food & beverage segment is expected to register the fastest growth over the forecast period.
The global vitamin & mineral premixes market is differentiated by application into healthcare, food & beverages, feed, and cosmetics & personal care. Among these, the food & beverage segment is expected to register the fastest growth over the forecast period. Vitamin and mineral premixes are widely used in the food and beverage industry, including dairy products, bakery products, cereals, beverages, and other items, which is driving the growth global vitamin & mineral premixes market.
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North America is estimated to hold the largest share of the global Vitamin & Mineral Premixes market during the projected period.
In the global vitamin and mineral premixes market, North America accounted for the largest market share. The growing demand for dietary supplements and functional foods is driving the North American market for vitamin and mineral premixes. The North American market is primarily attributed to an increase in demand for healthy food products and functional foods and beverages, as a result of their busy lifestyles and high consumption of processed and convenience foods. In the coming years, the Asia-Pacific region is expected to grow at the fastest rate. During the study period, the growth of business corporations, rapidly growing economies such as China and India, and a health-conscious nation will drive the consumption of vitamin and mineral premixes.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Vitamin & Mineral Premixes Market include BASF SE, ADM, Innov Ad NV/SA, Jubilant Ingrevia Limited, IDENA, DLG, Gk Biochemical Corporation, Advanced Animal Nutrition Pty Ltd., Credence Remedies Pvt. Ltd., Gold Fin International, Companies studied, DSM, Corbion, Glanbia plc, and Others.
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Recent Developments
In June 2022, DSM introduced the world's first bio-based Vitamin A, which has a wide range of applications in cosmetics and personal care products. This is consistent with DSM's goal of making its products carbon-neutral by 2050.
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