Market Overview
Global Vitamin and Mineral Premixes Market are expected to exhibit strong growth over the forecast period from 2018 to 2023, according to the latest research report from Market Research Future (MRFR). The global vitamin and mineral premixes market are mainly driven by the growing demand for functional food from consumers and the growing animal products industry, which has driven the demand for functional animal feed. The global vitamin and mineral premixes market is profiled in detail in the report, which presents a detailed analysis of the market’s historical growth trajectory as well as market prospects over the forecast period. Leading drivers and restraints affecting the global vitamin and mineral premixes market are also analyzed in detail in the report, in order to provide readers with a clear picture of which factors are likely to have a lasting impact on the market in the long run. The major players operating in the global vitamin and mineral premixes market are also profiled in the report in order to give readers a clear picture of the competitive landscape of the market.
The growing demand for functional food from consumers eager to have a healthy diet is likely to be the major driver for the global vitamin and mineral premixes market over the forecast period. Vitamin and mineral premixes enhance the nutritional content of food and beverages considerably, as a considerable number of vitamins and minerals naturally present in food products are lost in the industrial processes used to manufacture prepared food. As a result, the demand for supplements to make the food nutritious once again is growing in the food and beverage industry. The growing demand for dietary supplements is also likely to be a major driver for the global vitamin and mineral premixes market. The increasing awareness about dietary supplements and their benefits in enabling a healthier lifestyle for the consumer has driven the demand for vitamin and mineral premixes over the historical review period. The increasing readiness among manufacturers to come up with innovative dietary supplement products has also been a major driver for the global vitamin and mineral premixes market and is likely to drive the market over the forecast period.
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The growing animal feed industry is also likely to be a major driver for the global vitamin and mineral premixes market over the forecast period. The growing demand for meat and other animal products such as dairy has driven the livestock sector in the last few years, thus driving the demand for more effective and nutritious animal feed. The increasing need to avoid animal-borne diseases has also been a major driver for the vitamin and mineral premixes market, as these premixes enable improved health in animals, avoiding diseases.
Competitive Analysis
Leading players in the Global Vitamin and Mineral Premixes Market include Farbest Brands, Chemische Fabrik Budenheim KG, Watson Inc., SternVitamin GmbH & Co. KG, Nutreco NV, Vitablend Nederland BV, Wright Enrichment Inc., Glanbia plc, Corbion NV, and Koninklijke DSM NV.
Segmentation
The global vitamin and mineral premixes market are segmented on the basis of type, form, application, and region.
By type, the global vitamin and mineral premixes market is segmented into vitamins, minerals, and vitamin and mineral blends.
By form, the global market is segmented into powder and liquid.
By application, the vitamin and mineral premixes market is segmented into food and beverages, animal feed, healthcare, and personal care products. The food and beverages segment is further sub-segmented into bakery products, beverages, dairy products and others, while the healthcare segment is further sub-segmented into nutritional products and dietary supplements.
Regional Analysis
Asia Pacific is expected to dominate the Global Vitamin and Mineral Premixes Market over the forecast period, followed by North America. The growing animal products industry in Asia Pacific is at the heart of the growth of the vitamin and mineral premixes market in the region, as the growing animal products industry has driven the demand for effective and nutritious animal feed. China is the largest shareholder in the vitamin and mineral premixes in Asia Pacific due to the growing animal products industry in the country.
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