Vitamin and Mineral Premixes Global Market Report 2024

The vitamin and mineral premixes market size has grown strongly in recent years. It will grow from $8.36 billion in 2023 to $8.92 billion in 2024 at a compound annual growth rate (CAGR) of 6.7%. The expansion observed in the historical period can be attributed to several factors, including increased awareness of nutritional deficiencies, the rise in demand for functional foods, global population growth, the expansion of the food and beverage industry, and government initiatives promoting fortification of products with essential vitamins and minerals. These factors collectively contributed to the growth of the vitamin and mineral premixes market during the historic period.

The vitamin and mineral premixes market size is expected to see strong growth in the next few years. It will grow to $11.7 billion in 2028 at a compound annual growth rate (CAGR) of 7.0%. The anticipated growth in the forecast period for vitamin and mineral premixes can be attributed to various factors, including the rising demand for personalized nutrition, growth in the elderly population, expansion of the nutraceutical industry, increased fortification of plant-based products, and a heightened focus on immune health. Notable trends expected during the forecast period include advancements in food processing technologies, a preference for clean label and natural ingredients, innovation in delivery formats, increased collaborations and partnerships, the integration of technology in manufacturing processes, and a growing focus on ingredients promoting mental health.

The vitamin and mineral premixes market is poised for growth, driven by the increasing awareness of health. Health awareness, denoting an individual's knowledge and understanding of health-related matters, is a crucial factor. Vitamin and mineral premixes play a key role in offering personalized and cost-effective nutritional solutions, addressing nutrient gaps, and promoting targeted nutrient support. For example, a global survey by DSM, a Netherlands-based multinational corporation, revealed that 60% of consumers acknowledged an increased awareness of maintaining a healthy lifestyle due to the pandemic. Such awareness is reflected in the intention of 73% of respondents to make significant dietary changes. This emphasizes the role of vitamin and mineral premixes in meeting health-conscious consumer demands, driving market growth.

The expansion of the food service industry is anticipated to be a significant factor propelling the growth of the vitamin and mineral premixes market. The food service industry, encompassing businesses involved in food and beverage preparation, distribution, and sale, relies on vitamin and mineral premixes to enhance the nutritional value of diverse food offerings. An article by USA Today reported a notable increase in the U.S. restaurant industry's sales, reaching $898 billion in 2022 - an additional $166.5 billion compared to 2021. This growth in the food service industry contributes to the increased demand for vitamin and mineral premixes, highlighting their importance in fortifying menu items.

A noteworthy trend in the vitamin and mineral premixes market is the emphasis on product innovation by companies to maintain their competitive edge. SternVitamin, a Germany-based developer of premixes, introduced the SternFocus micronutrient premix in March 2022. Uniquely designed to support mental and cognitive performance, it includes selected micronutrients such as L-tyrosine and Bacopa monnieri, strengthening stress resistance with the help of B vitamins and the adaptogen Rhodiola rosea.

Major companies in the market are adopting a strategic partnership approach to leverage specific expertise, resulting in a comprehensive offering for customers. A notable partnership is observed between BASF SE, a Germany-based chemicals company, and EDCEL Limited, a Nigeria-based food technology company. Their collaboration aims to launch a vitamin A premix for fortifying edible oils, addressing vitamin A and D deficiencies through oil fortification - a primary source of fat in many diets.

In March 2023, Vilomix, a Denmark-based animal feed manufacturing company, acquired Vitamix, a Brazil-based manufacturing company specializing in animal nutrition and premixes. This acquisition is expected to strengthen Vilomix's position in developing feed additives and customized premix solutions.

Major companies operating in the vitamin and mineral premixes market report are Cargill Incorporated, The Archer-Daniels-Midland Company, BASF SE, Koninklijke DSM NV, Glanbia PLC, Alltech Inc., Nutreco NV, Barentz International BV, Corbion NV, Kemin Industries Inc., Innovd SA, Hexagon Nutrition Limited, Jubilant Ingrevia Limited, Wright Enrichment Inc., NutraBlend Foods LLC, Pharmline Inc., Burkmann Industries Inc., Promois International, Pristine Organics Private Limited, Bar – Magen Ltd., Nutrilo GmbH, Idena, Simfa Labs Private Limited, Vitablend Nederland BV, SternVitamin GmbH & Co KG, Prinova Group LLC, Zagro Asia Ltd., Farbest-Tallman Foods Corporation, Nutrasun Lifecare, Preconex N.V.

North America was the largest region in the vitamin and mineral premixes market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the vitamin and mineral premixes market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the vitamin and mineral premixes market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary types of vitamin and mineral premixes include vitamin and mineral combinations, as well as individual vitamin and mineral formulations. Vitamin and mineral combinations are products designed to support specific health needs or address nutrient deficiencies. These premixes are available in various forms, including dry and liquid formulations, and find applications in feed, healthcare, food and beverages, and personal care industries.

The vitamin and mineral premixes market research report is one of a series of new reports that provides vitamin and mineral premixes market statistics, including vitamin and mineral premixes industry global market size, regional shares, competitors with a vitamin and mineral premixes market share, detailed vitamin and mineral premixes market segments, market trends and opportunities, and any further data you may need to thrive in the vitamin and mineral premixes industry. This vitamin and mineral premixes market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The vitamin and mineral premixes market consists of sales of premix powder, nutritional products, and capsules. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.