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Vitamin And Mineral Premixes Market 2024 Report By Key Companies, Regional Analysis And Forecast 2033
Vitamin And Mineral Premixes Market
The vitamin and mineral premixes market size is expected to see strong growth in the next few years. It will grow to $11.7 billion in 2028 at a compound annual growth rate (CAGR) of 7.0%. The growth in the forecast period can be attributed to rising demand for personalized nutrition, elderly population growth, expansion of the nutraceutical industry, increased fortification of plant-based products, focus on immune health. Major trends in the forecast period include advancements in food processing technologies, clean label and natural ingredients, innovation in delivery formats, collaborations and partnerships, technology integration in manufacturing, focus on mental health ingredients .
Market Overview -
Vitamin and mineral premixes refer to blends of vitamins and minerals that are formulated to meet specific nutritional requirements. They are commonly used in the food and beverage industry to strengthen products with these essential nutrients.
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Increasing Health Awareness Propels Growth Of The Vitamin And Mineral Premixes Market
Increasing health awareness will propel the growth of the vitamin and mineral premixes market going forward. Health awareness refers to an individual's knowledge, understanding, and consciousness regarding health-related topics, issues, and practices. Vitamin and mineral premixes are used to provide highly personalized products efficiently and cost-effectively. Vitamin premixes can contribute to raising health awareness by addressing nutrient gaps and providing targeted nutrient support. For instance, in August 2022, according to the DSM, a Netherlands-based multinational corporation, globally 60% of consumers claimed that the pandemic had increased their awareness of the importance of maintaining a healthy lifestyle to prevent health issues. Consumers continued to express interest in making significant dietary changes, with 73% of respondents in both surveys stating they intend to eat and drink more healthfully, even though COVID-19 concerns decreased from 76% in April 2020 to 44% in April 2022. Therefore, increasing health awareness is driving the growth of the vitamin and mineral premixes market.
Competitive Landscape -
Major companies operating in the vitamin and mineral premixes market report are Cargill Incorporated, The Archer-Daniels-Midland Company, BASF SE, Koninklijke DSM NV, Glanbia plc, Alltech Inc, Nutreco NV, Barentz International BV, Corbion NV, Kemin Industries Inc., Innovd SA, Hexagon Nutrition Limited, Jubilant Ingrevia Limited, Wright Enrichment Inc., NutraBlend Foods LLC, Pharmline Inc, Burkmann Industries Inc., Promois International, Pristine Organics Private Limited, Bar - Magen Ltd., Nutrilo GmbH, Idena, Simfa Labs Private Limited, Vitablend Nederland BV, SternVitamin GmbH & Co KG, Prinova Group LLC, Zagro Asia Ltd., Farbest-Tallman Foods Corporation, Nutrasun Lifecare, Preconex N.V.
Product Innovation Drives Growth In The Vitamin And Mineral Premixes Market
Product innovation is a key trend gaining popularity in the vitamin and mineral premixes market. Companies operating in the vitamin and mineral premixes market are working on new product innovations to sustain their position in the market. For instance, in March 2022, SternVitamin, a Germany-based developer of vitamin and mineral premixes introduced the SternFocus micronutrient premix. It is uniquely designed to support mental and cognitive performance with the help of selected micronutrients, including L-tyrosine and Bacopa monnieri. It helps to strengthen stress resistance and support the nervous system with the help of B vitamins and the adaptogen Rhodiola rosea.
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Key Segments -
The vitamin and mineral premixes market covered in this report is segmented -
1) By Type: Vitamin And Mineral Combination, Vitamin, Mineral
2) By Form: Dry, Liquid
3) By Application: Feed, Healthcare, Food And Beverages, Personal Care
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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