Vitamin and Mineral Premixes Market Size

Vitamin and Mineral Premixes Market Size Snapshot

Note – Market size depicts the revenue generated over the financial year

The world market for vitamin and mineral premixes is estimated to be worth $ 4.33 billion in 2023 and is forecast to reach $ 5.8 billion by 2032, growing at a CAGR of 3.31 percent between 2023 and 2032. This steady growth pattern reflects a strong demand for vitamin and mineral premixes, driven by rising consumer awareness about health and nutrition and the growing prevalence of nutritional deficiencies in different populations. The market is also gaining from the increasing trend of fortification of food and beverage products, which has become a common practice among manufacturers seeking to improve the nutritional profile of their products and cater to health-conscious consumers. Several factors are bolstering the market, including technological developments that make it easier to formulate and deliver nutrients and the growing popularity of functional foods and dietary supplements. The major players, such as DSM Nutritional Products, BASF SE, and Archer Daniels Midland Company, are engaging in strategic moves, such as new product launches, to seize a larger share of the market. Also, new collaborations aimed at developing premixes tailored to specific health conditions demonstrate the industry’s commitment to meeting the diverse needs and preferences of consumers.

Regional Market Size

Regional Deep Dive

The vitamin and mineral premixes market is growing dynamically in various regions, owing to the growing health awareness, the rising demand for fortified food, and the growing emphasis on preventive health care. In North America, the market is characterized by a strong emphasis on innovation and regulatory compliance, while Europe is characterized by a growing trend towards organic and natural premixes. The Asia-Pacific region is characterized by rapid urbanization, changing dietary habits, and the rising demand for dietary supplements. The Middle East and Africa region is characterized by a growing demand for government initiatives to combat malnutrition, while Latin America is characterized by a growing demand for fortified products to increase food security.

North America

• The Food and Drug Administration recently published its revised guidelines for dietary supplements, putting the emphasis on the need for transparency in labeling, which is expected to boost the trust of consumers and stimulate the demand for vitamin and mineral mixes.
• DSM and BASF are investing in R&D to develop new premixes for specific health needs, such as immune support and mental performance, which fits in with the trend towards a more individualized nutrition.
• The development of e-commerce has transformed the distribution of products, allowing consumers to have access to a wider range of vitamin and mineral preparations, thereby increasing the market.

Europe

• The European Food Safety Authority (EFSA) has tightened up its regulations on health claims for dietary supplements. This is expected to increase the investment in scientifically proven formulations, which will lead to a higher quality of the products.
• The main trend is the environment. Herbalife and Ginkgo Bioworks are developing plant-based pre-mixes, which fit in with the growing consumer demand for products that are better for the environment.
• With the growing number of life-style diseases, there is a great demand for so-called 'function foods', and manufacturers have begun to mix vitamins and minerals into ordinary products.

Asia-Pacific

• A strong awareness of health has been growing in the Asia-Pacific region, particularly in China and India. This has led to an increase in the consumption of fortified foods, partly due to government policies to combat micronutrient deficiencies.
• The products of the companies Herbalife and Amway are of the most important. They have been diversifying the range of their products, especially in the delivery system, which has a great influence on the younger generations.

MEA

• In the United Arab Emirates, the National Strategy for Nutrition (NSN) is promoting the use of vitamin and mineral premixes in food products, thereby increasing the market for such products.
• In addition, the local manufacturer is increasingly collaborating with the international company to develop its products, such as the Al Ain Food Company and the international nutrition company.
• Culture and its emphasis on the use of local ingredients are also having an effect on the formulation of the premixes.

Latin America

• The region is experiencing a boom in demand for fortified foods, which is the result of a growing awareness of the problem of malnutrition, especially in Brazil and Mexico where the governments are taking steps to promote fortification.
• Local companies are developing unique formulas that meet the needs of the local diet, such as adding superfoods to vitamin and mineral premixes.
• Latin American consumers are looking for affordable nutritional solutions, and the cost of premixes has increased.

Did You Know?

“It is estimated that two billion people in the world suffer from micronutrient deficiencies.” — World Health Organization (WHO)

Segmental Market Size

The vitamin and mineral premix market is a dynamic sub-market of the overall nutritional products industry, and is currently experiencing steady growth. The main drivers of the market are a growing awareness of health and well-being among consumers, which is leading to a demand for fortified foods and dietary supplements, and stricter government regulations promoting the use of essential nutrients in food. Also, technological developments in premixes formulation and production are contributing to the quality and efficacy of the products, which is driving market growth.

The market for vitamin and mineral premixes is already in a mature phase of development. The leaders in this field are DSM and BASF. The most important applications are in the food and drink industry, where they are incorporated into products such as infant formula and dietary supplements, and in animal nutrition. The current trends towards a more plant-based diet and the demand for more sustainable products are driving growth. There are also some interesting developments in the field of encapsulation, which makes nutrients more stable and available.

Future Outlook

The Combined Preparations of Vitamins and Minerals market is expected to grow steadily from 2023 to 2032, with a projected rise in market value from $ 4.33 billion to $ 5.80 billion, indicating a CAGR of 3.31%. This growth is based on rising consumer awareness of the importance of health and nutrition, and the growing demand for fortified foods. The market penetration of vitamins and mineral preparations in various sectors, such as food and beverages, dietary supplements and animal feed, is expected to rise considerably and reach more than 30% in some countries by 2032.

Technological developments such as improved formulation techniques and improved delivery systems are expected to drive innovation in the market. As governments around the world are increasingly promoting nutritional initiatives to combat deficiencies, the market is expected to grow further. Also, the increasing popularity of plant-based diets and the concept of 'personalized nutrition' will shape the market. Consequently, the demand for tailored vitamin and mineral premixes for specific dietary needs is expected to increase. In this evolving market, the players must remain agile and responsive to these trends in order to seize the opportunities offered by the dynamic environment.