Meticulous Research® has released a report titled “Vitamin & Mineral Premixes Market by Type (Vitamin, Mineral), Form (Liquid), Application (Nutritional & Health Supplements, Food & Beverages, Pharmaceuticals) and Geography – Forecast to 2029.” This study projects that the market for vitamin and mineral premixes will reach $12.13 billion by 2029, growing at a CAGR of 4.8% from 2022 to 2029.
The growth is primarily fueled by the increasing focus on health and wellness, rising demand for compound animal feed, and the fortification of food, beverages, and personal care products. Additionally, the growing popularity of dietary supplements is a significant driver. However, challenges such as stringent regulations regarding food and feed fortification and the high cost of enriched products may impede market growth.
The global vitamin & mineral premixes market is categorized by type (vitamin, mineral, and blends), form (liquid and dry), and application (animal feed, nutritional health supplements, food & beverages, pharmaceuticals). Notably, the vitamin & mineral blend segment is expected to experience the highest growth due to consumer preference for blends offering multiple nutritional benefits. The liquid form of premixes is also predicted to grow rapidly, attributed to its easy absorption, particularly favored by the elderly.
In 2022, the animal feed segment is anticipated to hold the largest market share, driven by the increasing demand for poultry feed in regions like Asia-Pacific and South America. Asia-Pacific is expected to witness the fastest growth during the forecast period, spurred by a booming compound animal feed industry and growing demand for fortified foods.
Key players in this market include Koninklijke DSM N.V., Glanbia, Plc, Corbion N.V., Wright Enrichment Inc., and more.
