The increased consumption of nutraceuticals and dietary supplements has significantly increased the demand for vitamin Premix in the global vitamin premix market. The demand for vitamin premix in the global nutraceutical market is increasing at a healthy rate in the food and beverage industry, nutraceutical, and dietary supplements. Furthermore, the feed industry is seeing an increase in the demand for vitamin Premix.
According to a recent report by Future Market Insights, market research and competitive intelligence provider, sales of vitamin Premix are estimated to reach a value of USD 2.54 Billion by 2032, surging at 7.9% CAGR through the decade.
The vitamin Premix market is being driven primarily by rising consumer demand for various functional foods and beverages, as well as dietary supplements.
These nutraceuticals, which include sports drinks, protein shakes, fortified snacks, beverages, and vitamin supplements, are becoming an increasingly important part of consumers’ daily diets. The shift in consumption habits has compelled nutritional food manufacturers to create new products impacting the vitamin Premix market key trends and opportunities.
In recent years, vitamin Premix market manufacturers have increasingly used micronutrient Premix to create nutrient-rich foods and supplements. Premix are becoming more popular due to their simple inclusion technique and efficient mixing in food products influencing vitamin Premix market future trends.
Due to the increased consumption of convenience foods, the prevalence of vitamin and mineral deficiencies has increased among people which boost the vitamin Premix market adoption trends.
To combat nutrient deficiencies, governments around the world are focusing on raising awareness about nutrient-rich diets and providing fortified foods as vitamin Premix to escalate the vitamin Premix market key trends and opportunities.
These elements are expected to boost demand for vitamin Premix. Growing research and development activities to introduce innovative nutraceutical products are also driving vitamin Premix market growth.
Key Takeaways from Market Study
- The vitamin Premix market in China is expected to grow at a CAGR of 6.7% during the forecasted period and is expected to reach a market value of USD 168.3 Mn by 2032.
- The vitamin Premix market in the U.S is expected to grow at a CAGR of 7.9% and is expected to reach a market value of USD 590.4 Mn by 2032.
- Vitamin premix is also widely used in the nutraceutical industry because it is one of the most important ingredients in nutraceuticals. The growing geriatric population has increased the demand for nutraceuticals, which has fueled the demand for vitamin premix.
- The global increase in demand for animal feed is being hampered by the COVID-19 pandemic, which has resulted in supply chain disruption; limiting vitamin Premix market trends and forecast. Supply chain disruptions pose the most immediate threat to the vitamin Premix market.
- The powder segment of the vitamin Premix market is expected to grow at the fastest CAGR of 7.7%.
Who is winning?
The major vitamin Premix market players use a variety of vitamin Premix market growth strategies, such as acquisitions, product launches, collaborations, and contributing to the global vitamin Premix market growth.
- DSM acquired Glycom, a Danish biotechnology company, for approximately USD 836 million in February 2020.
Some of the key players in the vitamin Premix market include DSM, Glanbia plc, Vitablend, SternVitamin GmbH & Co, Watson Inc., Wright Enrichment Inc., Zagro, Trouw Nutrition.
Frequently Asked Questions
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