Vitamin & Mineral Premixes Market

Vitamin and Mineral Premixes Market Size

The global vitamin and mineral premixes market is estimated to be valued at USD 7.2 billion in 2022. It is projected to reach USD 9.8 billion by 2027, at a CAGR of 6.4%, in terms of value, between 2022 and 2027. Vitamin & mineral premixes have become crucial ingredients in pet food. They are used to enhance pet food's nutritional content and meet its nutritional requirements. In addition, with the advent of the pandemic, consumers across the globe have become more conscious about their health and have started taking several nutritional supplements. These trends are anticipated to boost the demand for vitamin & mineral premixes over the forecast period.

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Vitamin and Mineral Premixes Market Dynamics

Drivers: Growth in compound feed consumption

According to the FAO Food Outlook, global meat production was estimated to be 311.8 million tonnes in 2014, with a year-on-year growth of 1.1%, due to increased meat consumption. To meet the increasing demand for meat products and as a control measure to reduce transportation and management costs, farmers opted to utilize complete feeds to prepare animal feeds. The rise in the prices of feed ingredients, such as wheat, corn, and soybean, has increased the operational costs of farm activities for livestock farmers. Also, the increased consumption of compound feeds for farm animals' growth and development has enabled feed premixes' growth. On-farm feeds using vitamin and mineral premixes are prepared by farmers to provide balanced feed to animals. The usage of feed premixes has also been prompted by the widening quality norms for exported livestock products and increasing awareness among consumers of healthy foods.

Restraints: Higher costs of fortified and enriched products

The price of fortified and enriched products with respect to non-fortified products is substantially higher. This aspect, coupled with the consumer’s unwillingness to pay a high amount for highly fortified and enriched products, is a restraining factor, especially for developing economies. The intensity of the factor has further increased in countries with a large population living below the poverty line. These people should be exposed to fortified products to deal with malnutrition issues.

Opportunities: Developing countries to emerge as strong consumers in feed application

Asia Pacific and South America account for a significant share of the vitamin & mineral premixes market. People in countries, such as India, China, Indonesia, Vietnam, and Thailand, are expected to consume meat at an annual rate of 2.4% till 2030, according to the FAO report on “World Agriculture: Towards 2015/2030”. This has increased the demand for high-quality feed concentrates and premixes. The key players in the premixes market have sensed this opportunity to start premix production plants in these regions, to meet the growing demand for feed premixes.

In the South American region, Brazil housed the largest cattle population in 2013, with a head count of 211 million. According to the FAO, it is expected to grow at a rate well above the regional average. The rising consumer awareness for nutritious products and the requirement for export quality meat products can establish a strong demand for feed premixes in this region.

Challenges: Inaccurate labeling of food products

Nutritional benefits associated with consuming food products are used as a marketing tool by most food manufacturers to drive their sales revenues. However, in some cases, manufacturers make nutritional claims regarding the content of micronutrients in the food product, which may not be true, giving rise to false claims and doubts about product authenticity. To deal with such malpractices, regional and country-level food authorities strictly emphasize adhering to food labeling laws by food manufacturers, wherein periodical quality testing of food products is conducted to cross-confirm the claims made by the food manufacturer by verifying the level of nutrients present in the product with that indicated on the product label. Penalties are imposed on those identified for non-adherence or false claims.

Thus, to deal with such instances, food manufacturers, especially those offering processed food products with a long shelf-life, are focusing on adding higher nutrient content than the amount mentioned on labels to maintain or match the content of micronutrients mentioned on the product label throughout the shelf-life of the product.

By type, vitamin & mineral combination segment expected to achieve fastest growth during forecast period

The popularity of vitamin & mineral premixes, compared to individually manufactured vitamin premixes and mineral premixes, can be attributed to the increased consumer preference for blends of different functional ingredients to attain optimum health. Also, one of the factors fueling the growth of this market is the occurrences/prevalence of vitamin & mineral deficiencies and anemia in developing countries. Leading manufacturers are tapping this opportunity and addressing malnutrition by introducing vitamin and mineral premixes blends for various applications.

By form, dry form expected to account for largest share during forecast period

Vitamin & mineral premixes are widely used in the powdered form, as they are more stable than the liquid form. The convenient packaging of powdered premixes reduces complexities in supply chain processes, resulting in the increased popularity of this form. Powdered premixes are used across an extensive range of feed and food applications, such as low-fat milk powders, bakery products, health drink powders, soup mixes, and dessert mixes. Vitamin & mineral premixes are used by pharmaceutical and personal care companies in their powder form to manufacture tablets, capsules, toothpaste, face powders, lipsticks, and creams.

By application, food & beverage segment expected to achieve fastest growth over forecast period

The scope of the food & beverages sector includes bakery products, beverages, dairy products, cereals, and others. In the present scenario, with busy lifestyles and high exposure to processed foods, it is difficult to maintain the ideal levels of vitamin & mineral intake daily. Lower intake of such essential nutrients has negatively impacted the population's health and well-being. In such cases, food & beverage products fortified with essential nutrient premixes, such as vitamins & minerals, play an important role in convenience and exposure to ideal levels of essential nutrients.

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North America is the largest market for vitamin and mineral premixes globally. For this study, the region has been segmented into the US, Canada, and Mexico. The North American market is largely driven by the increase in demand for healthy foods and functional foods & beverages, owing to the low level of exposure to essential nutrients caused by high consumption of processed & convenience foods due to their busy lifestyles. The rise in obesity, heart diseases, and other health issues has led to the demand for high-nutrition dietary products. Vitamin & mineral premixes have been finding their way into new product applications, such as cereal-based products, dairy products, nutritional foods, beverages, infant formulas, and dietary supplements.

Key Market Players:

Key players in this market include DSM (Netherlands), Corbion (Netherlands), Glanbia plc (Ireland), Vitablend Nederland BV (Netherlands), SternVitamin GmbH & Co. KG (Germany), Wright Enrichment Inc. (US), Zagro (Singapore), Nutreco (Netherlands), Farbest-Tallman Foods Corporation (US), Burkmann Industries, Inc. (US), Bar – Magen LTD (Israel), BASF SE (Germany), ADM (US), Innov Ad NV/SA (Belgium), Jubilant Ingrevia Limited (India), IDENA (France), Spansules Pharmatech Pvt. Ltd. (India), Amesi Group (South Africa), SA Premix (South Africa), YesSinergy (Brazil), Phibro Animal Health Corporation (US), DLG (Denmark), Gk Biochemical Corporation (India), Advanced Animal Nutrition Pty Ltd. (Australia), and Credence Remedies Pvt. Ltd. (India).

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Scope of the Report

Vitamin and Mineral Premixes Market Report Segmentation:

This research report categorizes the vitamin and mineral premixes market based on type, form, application, functionality, and region

By type

• Vitamin & mineral combination
• Vitamin
• Mineral

By form

• Dry
• Liquid

By application

• Food & beverages
  • Bakery Products
  • Beverages
  • Dairy Products
  • Cereals
  • Other Food Applications (soups, snacks, and convenience foods)
• Healthcare
  • Nutritional Products
  • Dietary Supplements
• Feed
• Cosmetics & personal care products

By functionality (Qualitative)

• Bone health
• Skin health
• Energy
• Immunity
• Digestion
• Other functionalities

By Region:

• North America
• Europe
• Asia Pacific
• South America
• RoW
  • Middle East
  • Africa

Target Audience:

• Key companies engaged in vitamin & mineral premixes processing
• Key manufacturers of vitamin & mineral premixes
• Traders, distributors, and suppliers in the vitamin & mineral premixes market
• Traders and suppliers of raw materials to the vitamin & mineral premixes industry
• Livestock farmers
• Related government authorities, commercial R&D institutions, and other regulatory bodies
  • Food and Drugs Organization (FDA)
  • European Commission
  • European Food Safety Authority (EFSA)
  • Food Standards Australia New Zealand (FSANZ)
  • Animal Feed Manufacturers Association (AFMA)

Vitamin and Mineral Premixes Market Recent Developments:

• 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.
• In September 2021, SternVitamin GmbH & Co. KG (Germany) launched the SternVitality V, which contains vitamins, minerals, and botanicals, and aids in the reduction of fatigue and enhancement of mental performance. This strategic initiative was undertaken to cater to the rising demand for micronutrient premixes.
• In April 2021, Corbion (Netherlands), which produces PURAMEX, a natural lactate mineral for enriching the nutritional content of dairy products, announced the expansion of the production capacity of its lactate minerals. This initiative helps enhance the supply of lactic acid for its customers in the European market.
• In February 2019, Glanbia Plc (Ireland) completed the acquisition of Watson Inc., a US-based manufacturer of high-quality custom nutrient premixes and bakery ingredients for the nutrition, food, and supplement industries. This strategic initiative was undertaken to expand the company’s custom nutrient premix production footprint in the US.

Frequently Asked Questions (FAQ):

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