Vitamin & Mineral Premixes Market by Type (Vitamins, Minerals, Vitamin & Mineral Combinations), Application (Food & Beverages, Feed, Healthcare, and Cosmetics & Personal Care), Form (Dry and Liquid), Functionality and Region - Global Forecast to 2027
[227 Pages Report] According to MarketsandMarkets, the global vitamin & 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 & 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 & 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).
Scope of the Report :
|Market size estimation||2019–2027|
|Base year considered||2021|
|Forecast period considered||2022–2027|
|Units considered||Value (USD Million/USD Billion) and Volume (KT)|
|Segments covered||Type, form, and application|
|Regions covered||North America, Europe, Asia Pacific, South America, and RoW|
- 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)
This research report categorizes the vitamin & mineral premixes market based on type, form, application, functionality, and region
- Vitamin & mineral combination
Food & beverages
- Bakery Products
- Dairy Products
- Other Food Applications (soups, snacks, and convenience foods)
- Nutritional Products
- Dietary Supplements
- Cosmetics & personal care products
By functionality (Qualitative)
- Bone health
- Skin health
- Other functionalities
- North America
- Asia Pacific
- South America
- Middle East
- 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):
Which major applications of vitamin & mineral premixes have been considered in this study. Which segments are expected to have promising growth rates in the future?
All major applications, such as food & beverages, healthcare, feed and, cosmetics & personal care, have been considered in the scope of the study. Feed is currently the dominant segment due to the growing awareness regarding required pet nutrition. This has led to high demand for specialty nutrition and condition-specific pet health formulas, such as vitamin & minerals premixes for feed applications. The food & beverages segment is witnessing the highest growth rate in the application segment, owing to the rising preferences for fortified and functional food & beverage products and the growing level of consumer understanding of nutrition intake and health issues.
I am interested in the North American market for the food & beverages segment. Is customization available for the same? What all information would be included in the same?
Yes, the customization for the North American market for various segments can be provided on various aspects, such as market size, forecast, market dynamics, company profiles & competitive landscape. Also, exclusive insights on the below-listed countries will be provided:
What are the drivers fueling the growth of the vitamin & mineral premixes market?
Global vitamin & mineral premixes market is characterized by the following drivers:
Drivers: Growth in demand for functional and fortified foods
The growth in health-consciousness among consumers due to awareness regarding various diseases, nutritional deficiency, and desire for healthy aging, among other factors, have increased consumer demand for functional and fortified food & beverage products. The increased consumer understanding of nutrition has led to the demand for food products with specific functionalities that will cater to their needs and aid in dealing with heart health, immunity, digestion, weight management, and energy, among other health aspects.
Further, due to busy lifestyles, consumers lack the time and effort required to be invested in home-cooked food and are more inclined toward convenience food products, which are highly processed, resulting in reduced levels of essential nutrient intake for nourishment. To counter these concerns, consumers increasingly prefer functional and fortified foods, owing to the rising demand for vitamin & mineral premix market.
I am interested in understanding the research methodology on how you arrived at the market size and segmental splits before making a purchase decision. Can you provide me with an explanation on the same?
A detailed explanation of the research methodology can be provided over a scheduled call. It will also enable us to explain all your queries in detail. For a brief overview and knowledge, multiple approaches have been adopted to understand the holistic view of this market. These include,
- Bottom-up approach
- Top-down approach (Based on the global market)
- Primary interviews with industry experts
- Data triangulation
What kind of information is provided in the competitive landscape section?
For the list of the below-mentioned players, company profiles provide insights, such as a business overview covering information on the company’s business segments, financials, geographic presence, revenue mix, and business revenue mix. The company profiles section also provides information on product offerings, key developments associated with the company, SWOT analysis, and MnM view to elaborate analyst view on the company. Some of the key players in the market are DSM (Netherlands), Corbion (Netherlands), Glanbia Plc (Ireland), Vitablend Nederland BV (Netherlands), SternVitamin Gmbh & Co. KG (Germany), BASF SE (Germany), ADM (US), Wright Enrichment Inc (US), Zagro (Singapore), and Nutreco (Netherlands).
To speak to our analyst for a discussion on the above findings, click Speak to Analyst
The study involved four major activities in estimating vitamin & mineral premixes market size. Exhaustive secondary research was conducted to collect information on the market, peer market, and parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. The top-down and bottom-up approaches were employed to estimate the complete market size. After that, market breakdown and data triangulation were used to estimate the market size of segments and sub-segments.
In the secondary research process, various sources, such as annual reports, press releases & investor presentations of companies, white papers, certified publications, articles from recognized authors, gold & silver standard websites, directories, and databases, were referred to, to identify and collect information. Various sources, such as the Food and Agriculture Organization (FAO), United States Department of Agriculture (USDA), European Food Safety Authority (EFSA), Animal Feed Manufacturers Association (AFMA), Food Fortification Initiative, and academic references pertaining to vitamin & mineral premixes, were referred to identify and collect information for this study.
Secondary research was used to obtain key information about the industry’s supply chain, the total pool of key players, and market classification and segmentation as per the industry trends to the bottom-most level, regional markets, and key developments from both market- and technology-oriented perspectives.
In the primary research process, various sources from the supply and demand sides were interviewed to obtain qualitative and quantitative information. The primary sources from the supply-side included industry experts, such as CEOs, vice presidents, marketing directors, technology and innovation directors, and related key executives from various key companies and organizations operating in the vitamin & mineral premixes market.
After the complete market engineering (which included calculations for market statistics, market breakdown, market size estimations, market forecasting, and data triangulation), extensive primary research was conducted to gather information and to verify and validate the critical numbers arrived at. Primary research was also conducted to identify the segmentation types; industry trends; key players; competitive landscape of vitamin & mineral premixes supplied by different market players; and key market dynamics, such as drivers, restraints, opportunities, burning issues, industry trends, and key player strategies.
In the complete market engineering process, top-down and bottom-up approaches were extensively used along with several data triangulation methods to conduct market estimation and market forecasting for the overall market segments and subsegments listed in this report. Extensive qualitative and quantitative analysis was performed on the complete market engineering process to list key information/insights throughout the report.
To know about the assumptions considered for the study, download the pdf brochure
Market Size Estimation
The top-down and bottom-up approaches were used to estimate and validate the total size of the vitamin & mineral premixes market. These methods were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:
- The key players were identified through extensive primary and secondary research.
- The value chain and market size of the vitamin & mineral premixes market, in terms of value and volume, were determined through primary and secondary research.
- All percentage shares, splits, and breakdowns were determined using secondary sources and verified through primary sources.
- All possible parameters that affect the market covered in this research study were accounted for, viewed in extensive detail, verified through primary research, and analyzed to obtain the final quantitative and qualitative data.
- The research included the study of reports, reviews, and newsletters of top market players, along with extensive interviews for opinions from key leaders, such as CEOs, directors, and marketing executives.
After arriving at the overall market size from the estimation process explained above, the total market was split into several segments and subsegments. The data triangulation and market breakdown procedures were employed, wherever applicable, to estimate the overall vitamin & mineral premixes market and arrive at the exact statistics for all segments and subsegments. The data was triangulated by studying various factors and trends from the demand and supply sides. Along with this, the market size was validated using the top-down and bottom-up approaches. It was then verified through primary interviews. Hence, three approaches were adopted—the top-down approach, the bottom-up approach, and the one involving expert interviews. Only when the values arrived at from the three points match the data is assumed to be correct.
- To describe and forecast the vitamin & mineral premixes market, in terms of type, form, application, and region.
- To describe and forecast the vitamin & mineral premixes market, in terms of value, by region– North America, Europe, Asia Pacific, South America, and the Rest of the World—along with their respective countries.
- To provide detailed information regarding the major factors influencing the market growth (drivers, restraints, opportunities, and challenges)
- To strategically analyze micro-markets with respect to individual growth trends, prospects, and contributions to the overall market.
- To study the complete value chain of the vitamin & mineral premixes market.
- To analyze opportunities in the market for stakeholders by identifying the high-growth segments of the vitamin & mineral premixes market.
- To strategically profile the key players and comprehensively analyze their market positions, in terms of ranking and core competencies, along with details on the competitive landscape of market leaders.
- To analyze strategic approaches, such as expansions & investments, product launches & approvals, mergers & acquisitions, and agreements in the vitamin & mineral premixes market.
MarketsandMarkets offers customizations according to client-specific scientific needs with the given market data.
The following customization options are available for the report:
- Product Matrix, which gives a detailed comparison of the product portfolio of each company
- Further breakdown of the Rest of the European vitamin & mineral premixes market into Poland, Spain, and other EU countries.
- Further breakdown of the Rest of South American vitamin & mineral premixes market into Peru and Colombia.
- Detailed analyses and profiling of additional market players (up to five)