In a
recent report generated by Transparency Market Research (TMR), the
global vitamin & mineral premixes market is projected to record a
CAGR of 4.8% through 2026. The market was valued at nearly US$ 700 Mn
in 2017. Product launches, strategic acquisitions, and partnerships
are key strategies adopted by the market players, which is likely to
impact growth of the global market significantly during the
assessment period.
For
instance, Catalyst, a leading manufacturer of specialty products,
vitamin and mineral premixes, and microbial blends has entered into
partnership with Clear View Enterprises and is investing nearly US$ 1
Mn in two years to update its facilities. In addition, major chemical
company, BASF SE has entered into partnership Vital Therapeutics Pvt.
Ltd. Through strategic partnership, the companies will focus on
developing innovative products for feed industry.
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Also,
Chinese diary and infant formula specialist, Feihe International has
completed its acquisition with a US retailer, Vitamin World. Vitamin
World was acquired by Feihe International from Central Lane Partners,
which is a private investment company. The China-based company will
focus on strengthening the domestic operations and developing high
quality products for optimal health maintenance.
Strategies
including product launches, strategic partnerships and acquisitions
among market players is likely to impact growth of the global market
significantly. Fenchem Biotek Limited, Nutreco, Prinova Group LLC,
B&H Biotechnology Co. Ltd., Watson Inc., Hexagon Nutrition Pvt.
Ltd., Jubilant Life Sciences, Glanbia Plc, Koninklijke DSM N.V., and
Archer Daniels Mildland Company are some of the key players in the
global vitamin and minerals premixes market.
Weight
Management to Boost Sales of Vitamin & Mineral Premixes
With
the increasing number of obese and diabetic individuals, leading
manufacturers in the food industry are concentrating on developing
nutrition-dense products. Food manufacturers are diversifying their
focus towards production of nutrition-dense and low-fat food products
that are central to the specific health requirements of the
individuals.
In
order to produce low calorie food products and healthier
alternatives, leading manufacturers are opting for nutritional
premixes such as vitamin and mineral premixes. In addition,
manufacturers are utilizing vitamin and mineral premixes as an
important ingredient in a range of functional food products,
nutritional supplements, and bakery products such as cakes, pies,
yoghurt desserts, and muffins. Through offering innovative and
low-calorie food products for weight management, major companies are
focusing on improving their position in the global market.
Food
and Beverage Industry to Witness Significant Demand
Shift
in preferences of health and fitness conscious individuals has led
leading manufacturers in the food industry to opt for nutrition-rich
ingredients. Health conditions such as malnutrition, cardiovascular
diseases, and diabetes has fragmented demand for food products among
consumers. Individuals prefer spending on products that supplement
the requirements of their health.
To
align with the growing health requirements, taste, and preferences,
food manufacturers are focusing on utilizing vitamin and mineral
premixes as an important ingredient. As vitamin and mineral premixes
enhance the flavor, nutritional value, and appeal of the food
products, demand is expected to remain high in the food and beverage
industry. Also, increasing preference for on-the-go snacks among
working professional as an alternative to high cholesterol food
products will continue to boost demand.
Vitamin
& Mineral Combinations to Represent a Leading Segment
Demand
for vitamin
& mineral premixes is expected to remain high in
production of food and beverage industry. In terms of revenue, food
and beverage application is expected to record a value of over US$
400 Mn by the end of 2026. Sales of vitamin & mineral premixes in
powdered form is likely to remain high among food and pharmaceutical
manufacturers. Throughout 2026, sales of powdered form is expected to
bring in revenues worth more than US$ 800 Mn.
As
demand for low calorie and nutrition rich food products increase,
food manufacturers are focusing on developing products for effective
weight management. In terms of revenue, weight management function is
expected to record robust revenue growth, accounting for more than
US$ 270 Mn by the end of 2026. Sales of vitamin & mineral
combinations is expected to generate significant revenues attributed
to increasing production of low cholesterol food products. By
2026-end, vitamin & mineral combinations is expected to record
more than US$ 200 Mn.
North
America will continue to represent a dominant market globally.
Throughout, North America is expected to witness the fastest growth,
accounting for more than US$ 400 Mn. On the other hand, Japan is
expected to generate lowest revenues in the global market by the end
of 2026.
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