Market Leaders: DSM and Corbion Focusing on Expansions and Offering High-Quality Products to Consolidate their Position in Vitamin & Mineral Premixes Market
The 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, during the forecast period. The growth of this market is attributed to the growing demand for fortified food & beverage products, the rise in consumption of compound feed, the growing need for food enrichment due to high processing levels of food products, and customized nature & specificity to individual customer requirements.
Key players in this market include 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).
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The key players focus on offering high-quality products and strengthening their distribution network in their respective regions. The vitamin and minerals premixes market is dominated by European and North American players.
DSM is a leading company with a significant geographical presence across North America, Europe, South America, Asia Pacific, and Africa. The company has a comprehensive product portfolio for vitamins and mineral premixes that cater to various applications, such as feed, healthcare, food, and beverages. The company has been expanding in Europe, launching new manufacturing facilities in Poland, and strengthening its regional distribution network. The company has launched the world’s first bio-based vitamin A, which will have extensive applications in cosmetics and personal care. This is expected to enhance the business scope of the company further.
Corbion is one of the leading companies involved in manufacturing lactic acid, lactic acid derivatives, food ingredients, and biochemicals. The company offers high-performance bio-based products made from renewable resources. It caters to the needs of various industries, such as animal health & nutrition, pharmaceuticals, medical biomaterials, adhesives, home and personal care, agriculture, and coatings. The company has a significant market presence across all the major geographical regions: North America, Europe, Asia, South America, and the Middle East and Africa. It has manufacturing facilities across the US, Canada, Spain, the Netherlands, Brazil, and Thailand. Due to its increasing quality and label-conscious customers, the company has been focusing strongly on offering high-quality products and complying with international standards.
Related Reports:
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
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