Press release
Market Trend Insights: The Impact of Recent Advances on the Vitamin and Mineral Premixes Market
Vitamin And Mineral Premixes Market Size
Projected Market Value of the Vitamin and Mineral Premixes Market by 2030
The vitamin and mineral premixes market is forecasted to experience robust growth in the coming years, reaching a valuation of $13.68 billion by 2030. This reflects a compound annual growth rate (CAGR) of 8.0%. Several factors are fueling this expansion, including an increasing preference for personalized nutrition solutions and the broadening availability of preventive healthcare products. Additionally, the rising incorporation of fortified beverages, a stronger focus on optimizing micronutrient intake, and advancements in encapsulation technologies are significant contributors to the market's upward trajectory. Key trends expected to influence the market include a growing demand for customized nutrient premixes, their expanding use in functional food fortification, greater adoption in animal feed nutrition, increased applications of liquid premixes, and an intensified focus on improving bioavailability.
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Leading Companies Driving the Vitamin and Mineral Premixes Industry
The vitamin and mineral premixes market features several prominent players who contribute significantly to its development. Notable companies include Cargill Incorporated, Archer Daniels Midland Company, BASF SE, DSM Firmenich, Glanbia plc, Alltech Inc, Nutreco NV, Kemin Industries Inc, Hexagon Nutrition Limited, Jubilant Ingrevia Limited, Wright Enrichment Inc, NutraBlend Foods LLC, Pharmline Inc, Vitablend Nederland BV, SternVitamin GmbH & Co KG, Prinova Group LLC, Preconex NV, Barentz Active Nutrition, Zagro Asia Ltd, Corbion NV, and Innovad SA.
In a strategic move to strengthen its position, Vilomix, a Denmark-based animal feed manufacturer, acquired Vitamix, a Brazilian animal nutrition and premix producer, in March 2023 for an undisclosed sum. This acquisition is expected to enhance Vilomix's portfolio by expanding its capabilities in feed additives and bespoke premix solutions.
Emerging Trends Shaping the Vitamin and Mineral Premixes Market Globally
Companies in the vitamin and mineral premixes market are increasingly embracing strategic partnerships to broaden their expertise and product offerings. These alliances enable businesses to pool resources and deliver comprehensive solutions to customers.
For example, in August 2023, BASF SE, a Germany-based chemicals giant, formed a partnership with EDCEL Limited, a Nigerian food technology firm, to launch a vitamin A premix aimed at fortifying edible oils. This initiative targets micronutrient deficiencies of vitamins A and D by enhancing a common dietary fat source, demonstrating a focused approach to addressing nutritional gaps through innovation and collaboration.
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Market Segmentation Covered in the Vitamin and Mineral Premixes Report
This report segments the vitamin and mineral premixes market into several key categories to provide a detailed understanding of the landscape:
1) By Type: Vitamin and Mineral Combination, Vitamin, Mineral
2) By Form: Dry, Liquid
3) By Application: Feed, Healthcare, Food and Beverages, Personal Care
Further subcategories include:
- Vitamin and Mineral Combination: Multi-Vitamins and Minerals, Specialized Combinations
- Vitamin: Water-Soluble Vitamins, Fat-Soluble Vitamins
- Mineral: Macro Minerals, Trace Minerals
These classifications help highlight the diversity of products and uses within the market, reflecting its broad scope and specialized applications in different sectors.
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