Vitamin and Mineral Premixes Market Size, Share & Trends Analysis Report By Type (Vitamin & Mineral Combinations, Vitamin, Minerals), By Form (Powder Form, Liquid Form), By Functionality (Bone Health, Skin Health, Energy, Immunity, Digestion, Others), By Application (Feed, Food & Beverages, Healthcare, Pharma OTC, Other Application) and By Region(North America, Europe, APAC, Middle East and Africa, LATAM) Forecasts, 2023-2031

Market Overview

The global vitamin and mineral premixes market size was valued at USD 8.56 billion in 2022. It is projected to reach USD 13.01 billion by 2031, growing at a CAGR of 5.1% during the forecast period (2023–2031).

A vitamin-mineral premix combines vitamins and minerals in food for humans and animals as dietary supplements. Food fortification, also known as food enrichment, is the process of incorporating vitamins and minerals to increase the nutritional value of food. This includes several initiatives where foods must satisfy consumer preferences and needs and adhere to technical, dietary, legal, and regulatory requirements. Governments from several nations and international organizations have identified various types of food fortification. The animal feed industry uses premixes to create complete and balanced pet food products. The global expansion of the animal husbandry sector propels the market for vitamin and mineral premixes. One of the least risky and most economical ways to increase the nutritional value of food is food fortification. Giving simple, inexpensive staple foods more value has improved the nutritional status of target populations in several countries. People concerned about their health are remarkably increasing the demand for fortified foods.

Market Dynamics

What Are the Key Factors Driving Industry Growth?

Escalating Demand for Feed Additives in The Poultry Industry

To optimize diet compositions and meet the demands of contemporary poultry production, a balance of minerals and vitamins is frequently grown in poultry intakes. While vitamins and minerals only make up a small portion of a balanced diet for poultry, they are crucial to their health and support vital bodily processes like reproduction, performance, growth, and immunity. All animal production systems require a regular and accurate assessment of vitamin and mineral nutrition due to the constant rise in production and performance levels, husbandry difficulties, environmental demands, feedstuffs, and animal welfare. Only small amounts of vitamins in the feed are necessary to maintain physiological processes because they are active, organic compounds essential for body functions. By including feed premixes, poultry premixes may provide benefits beyond nutrition. Feed premixes can be included in the mineral feed or premix or added to a finished feed diet. Modern poultry husbandry frequently involves challenges; farmers can support, protect, and rehabilitate their poultry flocks by providing vitamin and mineral premixes.

Demand to Be Driven by Food and Pharmaceutical Sectors

Numerous nutritional disorders have been linked to sedentary lifestyles among people, particularly among young people worldwide. Consuming nutritional supplements in the form of pills, syrup, or food products has become widespread. The market for vitamin and mineral premixes is experiencing strong demand due to rising health consciousness. Due to the intense workload and lengthy workdays, many people struggle to meet their nutritional needs. Fatigue and other lifestyle issues result from this. Thus, a growing number of young professionals are starting to consume nutritional supplements while on the go. The demand for vitamin & mineral premixes is skyrocketing due to nutrient-dense and portable food products.

Why Are Vitamin and Mineral Premixes Limiting the Market?

The General Lack of Knowledge About the Advantages

Even though there is growing awareness of premixes, the market is challenged by the lack of widespread knowledge regarding the advantages of vitamin and mineral premixes in the food and supplement industries. Most developed nations are seeing an increase in awareness. Still, rural areas in developing nations, where there is a high demand for nutritional supplements, are unaware of the advantages and accessibility of vitamin and mineral premixes. Age, gender, good eating habits, education level, income, and physical activity are sociodemographic and lifestyle factors that impact DS consumption. However, research on these factors has focused primarily on adult populations, and there is little to no evidence linking them to DS use in children and adolescents.

What Are the Future Prospects of Vitamin and Mineral Premixes?

An Increase in The Use of Dietary Supplements

Due to the superior health benefits of premixed vitamins and minerals, there has been an increase in demand for them due to the surge in dietary supplement consumption brought on by the rising prevalence of chronic diseases and rising healthcare costs. Vitamins and minerals are necessary for several bodily processes, including regulating metabolism, preserving a healthy immune system and hormonal equilibrium, and promoting bone and tissue growth. Additionally, because nutritional deficiency differs from person to person, there is a greater demand for a customized blend of nutrients according to the individual's needs. Additionally, consumers are used to having access to customized and on-demand services.

Regional Analysis

The global vitamin and mineral premixes market is bifurcated into four regions: North America, Europe, Asia-Pacific, and LAMEA.

Asia Pacific Dominates the Global Market.

Asia Pacific is the most significant shareholder in the global vitamin and mineral premixes market and is expected to grow at a CAGR of 4.6% during the forecast period. China, India, Japan, Australia, and the rest of Asia-Pacific are all included in the Asia-Pacific vitamin and mineral premixes market analysis. China produces and consumes much feed, and the market is driven by the rising demand for fortified feed additives and ingredients. The demand for vitamin and mineral premixes in the region is also anticipated to increase as a result of the region's expanding compound animal feed industry, expanding economy, and rising demand for fortified food products in emerging and developing nations like India, Indonesia, and Thailand, as well as rising investments from significant regional players.

North America is expected to grow at a CAGR of 5.7% during the forecast period. The U.S. and Canada have been included in North America's vitamin and mineral premixes market analysis. The main driver of the regional market growth is the high demand for micronutrient-enriched food products due to the prevalence of chronic diseases like diabetes, cancer, and osteoporosis. ADM Animal Nutrition and Prinova Group LLC are two significant premixes manufacturers in the area, and their presence is another important factor driving the industry's expansion there. The demand for customized premixes in the dietary supplement application is likely to be driven by the growing consumption of nutritional supplements among the aging population in North America. In addition, the country's rapidly aging population has significantly increased demand for novel and functional products, which is expected to impact market growth in North America positively.

Segmental Analysis

The market is segmented by type, form, functionality, and application.

Based on type, the global vitamin and mineral premixes market is bifurcated into vitamin & mineral combinations, vitamin, minerals.

The minerals segment is the highest contributor to the market and is expected to grow at a CAGR of 5.2% during the forecast period. As osteoporosis rates rise, there will likely be greater demand for calcium and vitamin D supplements. The demand for premixes that combine vitamins and minerals is also anticipated to increase. The demand for combined vitamin and mineral premixes is growing as awareness of micronutrient deficiencies in human and animal nutrition grows. Among the frequent nutritional deficiencies in people are deficiencies in iron, vitamin D, calcium, vitamin B, and vitamin A.

Based on form,  the global vitamin and mineral premixes market is bifurcated into powder form and liquid form.

The powder segment is the highest contributor to the market and is expected to grow at a CAGR of 4.9% during the forecast period. Due to their superior advantages over their liquid counterpart, such as affordability, convenient packaging, stability, and flexibility, premixes are frequently used in powdered form. For supplements that are consumed frequently, powder premixes are also preferred. The end-user industries, like food and beverage and dietary supplements, prefer powdered premixes because they are simple to handle and pack. Powder premixes are typically created through the processes of spraying and freeze-drying.

Based on functionality, the global vitamin and mineral premixes market is bifurcated into bone health, skin health, energy, immunity, digestion, and others.

The immunity segment is the highest contributor to the market and is expected to grow at a CAGR of 5.43% during the forecast period. Because more people are using the product to feed livestock. The premixes are created to satisfy the dietary requirements of various livestock species at various stages of production. Studies have shown that for the body to have a robust immune system, it needs adequate levels of the vitamins A, B, C, D, and E, as well as the minerals iron, zinc, silver, gold, and selenium. When these minerals and vitamins were artificially induced in the form of pills to boost immunity, tests were, however, inconclusive.

The global vitamin and mineral premixes market is bifurcated into feed, food & beverages, healthcare, pharma OTC, and other application based on application. Food and beverages are further sub-segmented into bakery products, beverages, dairy products, and cereals.

The feed segment is the highest contributor to the market and is expected to grow at a CAGR of 4.85% during the forecast period. Due to the product's increasing use as animal feed and the presence of various nutrients. Due to the increasing global preference for nutrient-rich food, the healthcare sector is anticipated to expand significantly over time. Roughage concentrates and mixed feeds are the three main categories into which we can conveniently divide feeds. Roughages are high-fiber byproduct feeds like pasture forages, hays, silages, and pasture forages. When it's dry or wet outside, grazing animals can receive phosphate, calcium, and trace mineral mixtures as feed supplements.

Impact of covid-19

The Covid-19 pandemic has significantly affected the total tile market, with demand remaining subdued for 6 months in 2020. End-use industries such as construction, manufacturing, and chemical, among others, have seen substantial expansion in the market. For example, the United States has a well-established building industry. Until 2019, the construction industry contributed over USD 2 trillion to the American economy. Due to the pandemic, the figure fell to USD 1.3 trillion in 2020. As a result, the expansion of all related industries has been impeded. Several ongoing projects have been canceled or postponed.

The usage of fluorosilicic acid for aluminum production in the automotive sector had dropped by more than 20%. The demand for aluminum in this industry is directly related to the entire vehicle output. As a result, the acid market experienced the same influence on demand. This was caused by, among other things, the entire and partial suspension of manufacturing facilities, limited transportation of commodities, a prohibition on import and export activities, and the closure of showrooms.

Key Impacts of COVID-19

• Large oil, gas, and chemical firms are reducing capital and operational expenditures.
• Companies with high debt and insufficient cash flow are more prone to encounter liquidity difficulties, and some may be forced to close their doors permanently.

Market Recovery Timeline and Challenges

The global fluorosilicic acid market research study emphasizes possible recovery scenarios during the forecast period. Fluorosilicic acid is created as a byproduct of the production of phosphate fertilizers and from phosphate rock that includes fluoride and silica and is processed with sulfuric acid. It is a dry salt additive that must be dissolved in a solution before it can be added to water. Rising ground and surface water contamination raise the need for water treatment, which raises the demand for fluorosilicic acid.

Recent Developments

• In November 2022, De Heus opened a facility in Vietnam that produces feed premix. This facility will be the first in Asia to distribute De Heus' vitamins and dietary supplements to Vietnam.
• In September 2022, Premix introduces a novel purging substance to the market; the new PRE-PRG, based on natural fiber, enables more environmentally friendly cleaning of machine lines.