The global mineral premixes market is expected to reach USD 761.1 Million by 2022, accelerating at a CAGR of 8.6% during the forecast period (2022 to 2032). Mineral premix market sales are likely to account for a part of the demand in the global food premix market.
| Attributes | Key Statistics |
|---|---|
| Mineral Premix Market Estimated Size (2022E) | USD 761.1 Million |
| Market Projected Size (2032F) | USD 1,742.2 Million |
| Value CAGR (2022 to 2032) | 8.6% |
| Top 3 Countries Marketing Share | 27% |
As per the study, mineral premixes market is being driven by rapid urbanization, rising dairy product demand, and expansion of cattle feed market. Increased demand for functional and fortified food products and requirement for food advancement due to high levels of processing of food products will contribute to the rising demand for mineral premixes.
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Future Market Insights (FMI) estimates the global mineral premixes market grew at a CAGR of 6.6% over the historic period (2017 to 2021). Mineral premixes are complex mixtures of mineral additives that are used to supplement feed.
The mineral premix is a dry blend of calcium, iron, phosphorus, magnesium, and other minerals. Rising consumption of mineral-enriched food and beverage products is one of the key factors driving the growth in the market. Also, rising consumption of sports nutrition beverage across the globe will also boos the mineral premixes market.
Rising physical activity among consumers has resulted in an increase in the sales of sports nutrition products. Hence, key manufacturers are taking the initiative to list the ingredients on the label itself, allowing customers to choose products based on their nutritional needs.
On the back of these aforementioned factors, the demand in mineral premixes market is expected to surpass USD 1,742.2 Mn, with sales poised to expand at 8.6% CAGR over the forecast period (2022 to 2032).
According to the study, the expansion of animal feed industry will continue to contribute significantly to the global food supply. As a result, animal feeds have grown in importance as a component of the integrated food chain.
Growing demand for meat, milk, eggs, and other livestock products is expected to aid the growth in the market. Consumers are heavily reliant on the availability of adequate, cost-effective, and safe animal feeds. Another factor to consider alternative, cost-effective, and convenient sources of animal feed is global population growth. One of the most expensive components of feed formulation in livestock diets is appropriate dietary concentration.
Feedstuffs and ingredients such as minerals, antibiotics, amino acids, and colorants are blended in various proportions to produce compound feeds for various animal species. As a result of their concentrated energy source and feed efficiency, demand for mineral premixes is expected to surge in the animal feed industry.
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Increasing Demand for Nutritional Food Products to Propel Mineral Premixes Sales
In terms of value, the USA mineral premixes market is expected to hold the largest share in 2022. As per FMI, the mineral premix market in the USA is expected to grow at a CAGR of 8.4% during the forecasted period 2022 to 2032.
Demand for functional and healthy food products has increased as a result of the low level of exposure to essential nutrients caused by high consumption of processed and convenience foods.
As a result, with increased feed production, demand for mineral premixes is estimated to rise over the forecast period. Mineral premixes are being used in an increasing number of new product applications, including dairy products, cereal to based products, nutritional foods, infant formulas, beverages, and dietary supplements.
India Mineral Premix Market to Gain from Rising Consumption of Functional Food Products
According to FMI, rising demand for food enrichment as a result of the high processing level of food products and consumption of compound feed will drive the growth in India mineral premixes market. The mineral premix market in India is expected to grow at a CAGR of 8.7% during the forecast period (2022 to 2032).
Another factor contributing to the sales is growing awareness of the importance of nutrition intake. This is expected to improve the need for nutritional and functional food products, accelerating the growth in the mineral premixes market during the forecast period.
Powdered Mineral Premixes to Gain Traction through 2022 & beyond
In terms of form, the mineral premix market is sub-segmented into powder and liquid. In 2022, the powder segment is expected to account for the largest share of the mineral premix market. Growth in the segment can be attributed to its benefits over liquid forms, such as ease of handling, better homogeneity, simple transport economics, and better premix stability.
Sales of Mineral Premixes in Poultry Feed Industry will Surge at a Robust Pace
The mineral premixes market is divided into aqua feed, ruminant feed, poultry feed, swine feed, and other feed applications. In 2022, the poultry feed segment is expected to account for the largest share of the mineral premixes market.
This is due to rising compound feed consumption, demand for mineral-enriched foods, and rising awareness about pet nutrition.
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Industry players are working on developing strategies for expanding their existing product portfolios, acquiring industry-related players, to maintain their position in the market.
They are also focusing on new product manufacturing developments and innovations to gain competitive edge.
| Attribute | Details |
|---|---|
| Market Estimated Size (2022E) | USD 761.1 Million |
| Market Projected Size (2032F) | USD 1,742.2 Million |
| Value CAGR (2022 to 2032) | 8.6% |
| Forecast Period | 2022 to 2032 |
| Historical Data Available for | 2017 to 2022 |
| Market Analysis | USD Million for Value and Million. Sq. M. for Volume |
| Key Regions Covered | North America; Latin America; Europe; East Asia; South Asia; and the Middle East & Africa |
| Key Countries Covered | USA, Brazil, Mexico, Germany, U.K., China, India, Japan, Australia, and GCC Countries |
| Key Segments Covered | Form, Function, Application, and Region |
| Key Companies Profiled | Corbion N.V.; Farbest to Tallman Foods Corporation; Glanbia plc; Koninklijke DSM N.V.,; Nutreco N.V.; SternVitamin GmbH & Co. KG,; Vitablend Nederland BV; Watson Foods Co., Inc.; Wright Enrichment Inc.; Zagro Asia Ltd. |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
The global mineral premix market is expected to grow at a CAGR of 8.6% over the forecast period (2022-2032).
By 2032, the mineral premix market is expected to be worth USD 1,742.2 Mn.
Demand for healthy food supplements has created a plethora of opportunities for mineral premix market players across nutraceuticals, and food & beverage sectors.
Asia-Pacific is expected to be one of the most lucrative mineral premix market over the forecast period.
Some of the key players in the mineral premix market include Corbion N.V., Farbest-Tallman Foods Corporation, Glanbia plc, Koninklijke, DSM N.V., Nutreco N.V., SternVitamin GmbH & Co. KG, Vitablend Nederland BV, Watson Foods Co., Inc., Wright Enrichment Inc., Zagro Asia Ltd.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Mineral Premix Market Analysis 2017 to 2021 and Forecast, 2022 to 2032 5. Global Mineral Premix Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Form 5.1. Powder 5.2. Liquid 6. Global Mineral Premix Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Function 6.1. Bone Health 6.2. Immunity 6.3. Digestion 6.4. Energy 6.5. Heart Health 6.6. Weight Management 6.7. Vision Health 6.8. Brain Health & Memory 6.9. Resistance 6.10. Others 7. Global Mineral Premix Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Application 7.1. Food Sector 7.1.1. Early Life Nutrition/Baby Food 7.1.2. Medical Nutrition 7.1.3. Sports Nutrition & Energy Drink 7.1.4. Milk & Milk Products 7.1.5. Bakery & Confectionary Products 7.1.6. Cereals & Snacks 7.1.7. Oils and Fats 7.1.8. Staple Foods 7.2. Dietary Supplement 7.3. Pharma OTC Drugs 7.4. Pet Food 8. Global Mineral Premix Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Region 8.1. North America 8.2. Latin America 8.3. Europe 8.4. East Asia 8.5. South Asia 8.6. Oceania 8.7. MEA 9. North America Mineral Premix Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 10. Latin America Mineral Premix Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 11. Europe Mineral Premix Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 12. East Asia Mineral Premix Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 13. South Asia Mineral Premix Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 14. Oceania Mineral Premix Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 15. MEA Mineral Premix Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 16. Key Countries Mineral Premix Market Analysis 17. Market Structure Analysis 18. Competition Analysis 18.1. DSM 18.2. Corbion 18.3. Glanbia PLC 18.4. Nutreco 18.5. Zagro Asia 18.6. Nutreco 18.7. Farbest to Tallman Foods Corporation 18.8. Burkmann Industries 18.9. Bar to Magen 18.10. Burkmann Industries 18.11. The Wright Group 18.12. Vitablend Nederland 18.13. SternVitamin 18.14. Others (on additional request) 19. Assumptions & Acronyms Used 20. Research Methodology
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Mineral Premix Market
