Global Vitamin and Mineral Premixes Market Set for Robust Growth, Projected to Reach $11.7 Billion by 2028
Vitamin And Mineral Premixes Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
The Business Research Company's Vitamin And Mineral Premixes Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
LONDON, GREATER LONDON, UK, July 4, 2024 /EINPresswire.com/ -- The global vitamin and mineral premixes market, valued at $8.36 billion in 2023, is expected to grow to $8.92 billion in 2024, reflecting a compound annual growth rate (CAGR) of 6.7%. It will grow to $11.7 billion in 2028 at a compound annual growth rate (CAGR) of 7.0%. This growth trajectory is driven by heightened awareness of nutritional deficiencies, the proliferation of functional foods, global population expansion, the burgeoning food and beverage sector, and governmental initiatives promoting fortification.
Health Awareness Driving Market Expansion
Increasing health consciousness among consumers is a pivotal driver propelling the vitamin and mineral premixes market forward. As individuals become more knowledgeable and conscientious about health-related matters, the demand for products fortified with essential nutrients rises. Vitamin and mineral premixes play a crucial role in meeting these demands efficiently and cost-effectively. For instance, during the COVID-19 pandemic, there was a notable surge in health awareness globally, with many consumers emphasizing the importance of a healthy lifestyle. This trend continues to shape dietary preferences and drive market growth.
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Major Players and Strategic Partnerships
Leading companies in the vitamin and mineral premixes market include Cargill Incorporated, BASF SE, Koninklijke DSM NV, Glanbia PLC, and others. These companies are actively engaged in strategic partnerships aimed at enhancing their product offerings and market reach. For example, BASF SE recently collaborated with EDCEL Limited to launch a vitamin A premix for fortifying edible oils, addressing significant vitamin deficiencies in diets reliant on such oils.
Market Segmentation
The vitamin and mineral premixes market is segmented by:
•Type: Vitamin And Mineral Combination, Vitamin, Mineral
•Form: Dry, Liquid
•Application: Feed, Healthcare, Food And Beverages, Personal Care
Regional Insights
North America dominated the vitamin and mineral premixes market in 2023, driven by high consumer awareness and demand for fortified products. Meanwhile, Asia-Pacific is anticipated to witness the fastest growth during the forecast period, fueled by increasing disposable incomes, changing dietary patterns, and growing health awareness across the region.
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Vitamin And Mineral Premixes Global Market Report 2024 from TBRC covers the following information:
•Market size data for the forecast period: Historical and Future
•Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
•Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Vitamin And Mineral Premixes Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on vitamin and mineral premixes market size, vitamin and mineral premixes market drivers and trends, vitamin and mineral premixes market major players, competitors' revenues, market positioning, and market growth across geographies. The vitamin and mineral premixes market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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