Vitamin and mineral premixes are a mixture of two or more vitamins, minerals, or both. The increasing demand for functional food & beverages among health-conscious consumers is driving the growth of the global vitamin and mineral premixes market. Moreover, the high level of processing in the food industry results in a loss of nutrients, which is compensated for by the addition of vitamin and mineral premixes.
Based on type, the global vitamin and mineral premixes market has been segmented into vitamins, minerals, and vitamin and mineral blends. The vitamin and mineral blends segment accounted for the maximum market share in 2017 and is expected to grow at the highest rate during the forecast period. Vitamin and mineral blends are a cost-effective solution for food manufacturers as they fulfill the requirements of both vitamins and minerals in a single product.
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The global vitamin and mineral premixes market have been segregated, by form, into powder and liquid. The powder segment is expected to be the largest and fastest-growing vitamin and mineral premixes market during the assessment period. The stable nature of the powder form and convenience in packaging powdered vitamin and mineral premixes is expected to drive the growth of the segment.
Some of the key players in the Global Vitamin and Mineral Premixes Market are Glanbia PLC (Ireland), Koninklijke DSM NV (Netherlands), Corbion NV (Netherlands), Wright Enrichment Inc. (US), Vitablend Nederland BV (Netherlands), Nutreco NV (Netherlands), SternVitamin GmbH & Co. KG (Germany), Watson Inc. (US), Chemische Fabrik Budenheim KG (Germany), and Farbest Brands (US).
The global market for vitamin and mineral premixes has also been classified, by application, as food & beverage, animal feed, healthcare, and personal care products. The food & beverage segment has further been divided into bakery products, beverages, dairy products, and others. Moreover, the healthcare segment has been further classified as nutritional products and dietary supplements. The animal feed segment is expected to dominate the market due to the widespread use of vitamin and mineral premixes in the fortification of feed. However, the healthcare segment is expected to register the highest CAGR during the forecast period owing to the increasing demand for dietary supplements.
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Based on region, the global vitamin and mineral premixes market has been segmented by North America, Europe, Asia-Pacific, and the rest of the world. Asia-Pacific is expected to be the largest and fastest-growing vitamin and mineral premixes market due to the presence of key animal feed manufacturers in the region. Moreover, the prevalence of malnutrition has led a demand for fortified food products, offering opportunities to players in the global vitamin and mineral premixes market. Emerging markets such as China and India are projected to contribute to the growth of the regional vitamin and mineral premixes market.
The vitamin and mineral premixes market in North America is expected to grow substantially due to the increasing adoption of healthy diets and functional foods by the health-conscious population. In Europe, the increasing demand for functional beverages along with rising inclination toward dietary supplements is projected to boost the growth of the vitamin and mineral premixes market. The application of vitamin and mineral premixes in infant formula and healthcare supplements is expected to boost the growth of the market in the rest of the world.