ALBANY, New York, March 21, 2018 /PRNewswire/ --
In a recent report generated by Transparency Market Research (TMR),the global vitamin & mineral premixes market is projected to record a CAGR of 4.8% through 2026. The market was valued at nearly US$ 700 Mn in 2017. Product launches, strategic acquisitions, and partnerships
For instance, Catalyst, a leading manufacturer of specialty products, vitamin and mineral premixes, and microbial blends has entered into partnership with Clear View Enterprises and is investing nearly US$ 1 Mn in two years to update its facilities. In addition, major chemical company, BASF SE has entered into partnership Vital Therapeutics Pvt. Ltd. Through strategic partnership, the companies will focus on developing innovative products for feed industry.
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Also, Chinese diary and infant formula specialist, Feihe International has completed its acquisition with a US retailer, Vitamin World. Vitamin World was acquired by Feihe International from Central Lane Partners, which is a private investment company. The China-based company will focus on strengthening the domestic operations and developing high quality products for optimal health maintenance.
Strategies including product launches, strategic partnerships and acquisitions among market players is likely to impact growth of the global market significantly. Fenchem Biotek Limited, Nutreco, Prinova Group LLC, B&H Biotechnology Co. Ltd., Watson Inc., Hexagon Nutrition Pvt. Ltd., Jubilant Life Sciences, Glanbia Plc, Koninklijke DSM N.V., and Archer Daniels Mildland Company are some of the key players in the global vitamin and minerals premixes market.
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Weight Management to Boost Sales of Vitamin & Mineral Premixes
With the increasing number of obese and diabetic individuals, leading manufacturers in the food industry are concentrating on developing nutrition-dense products. Food manufacturers are diversifying their focus towards production of nutrition-dense and low-fat food products that are central to the specific health requirements of the individuals.
In order to produce low calorie food products and healthier alternatives, leading manufacturers are opting for nutritional premixes such as vitamin and mineral premixes. In addition, manufacturers are utilizing vitamin and mineral premixes as an important ingredient in a range of functional food products, nutritional supplements, and bakery products such as cakes, pies, yoghurt desserts, and muffins. Through offering innovative and low-calorie food products for weight management, major companies are focusing on improving their position in the global market.
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Food and Beverage Industry to Witness Significant Demand
Shift in preferences of health and fitness conscious individuals has led leading manufacturers in the food industry to opt for nutrition-rich ingredients. Health conditions such as malnutrition, cardiovascular diseases, and diabetes has fragmented demand for food products among consumers. Individuals prefer spending on products that supplement the requirements of their health.
To align with the growing health requirements, taste, and preferences, food manufacturers are focusing on utilizing vitamin and mineral premixes as an important ingredient. As vitamin and mineral premixes enhance the flavor, nutritional value, and appeal of the food products, demand is expected to remain high in the food and beverage industry. Also, increasing preference for on-the-go snacks among working professional as an alternative to high cholesterol food products will continue to boost demand.
Vitamin & Mineral Combinations to Represent a Leading Segment
Demand for vitamin & mineral premixes is expected to remain high in production of food and beverage industry. In terms of revenue, food and beverage application is expected to record a value of over US$ 400 Mn by the end of 2026. Sales of vitamin & mineral premixes in powdered form is likely to remain high among food and pharmaceutical manufacturers. Throughout 2026, sales of powdered form is expected to bring in revenues worth more than US$ 800 Mn.
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As demand for low calorie and nutrition rich food products increase, food manufacturers are focusing on developing products for effective weight management. In terms of revenue, weight management function is expected to record robust revenue growth, accounting for more than US$ 270 Mn by the end of 2026. Sales of vitamin & mineral combinations is expected to generate significant revenues attributed to increasing production of low cholesterol food products. By 2026-end, vitamin & mineral combinations is expected to record more than US$ 200 Mn.
North America will continue to represent a dominant market globally. Throughout, North America is expected to witness the fastest growth, accounting for more than US$ 400 Mn. On the other hand, Japan is expected to generate lowest revenues in the global market by the end of 2026.
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