Published: May, 2019
The dynamics of global vitamin and mineral premixes market are set to move upwards from 2018 to 2026. This is because of the constant launching of new product lines along with strategic mergers, partnerships, and acquisitions. Catalyst, a leading producer of specialty products, vitamin and mineral premixes products is investing a fortune in research and development for enhancing its product quality. Many other businesses are investing their time and resources in strategies such as lavish product launch. They also take steps to impart knowledge about their products so as to expand their customer base. Companies that have a prominent presence in global vitamin and mineral premixes market are Fenchem Biotek Limited, B&H Biotechnology Co. Ltd, Watson Inc., and Hexagon Nutrition Pvt. Ltd.
Currently the global vitamin and mineral premixes market stand strong at astonishing USD $ 700 million. The market is projected to hit the point of USD$ 1billion by the end of 2026. The growth will be attributed to the CAGR hike of 4.8% in the period from 2017 to 2026. The growth will be the result of increased health and fitness awareness in various regions across the globe.
Global vitamin and mineral premixes market are fragmented on the basis of ingredient, form, functions, and applications. Out of the above-mentioned segments, the application has the highest potential to excel in global vitamin and mineral premixes market during the forecast period. This accelerated growth of the application segment can be attributed to sedentary professions and lifestyles. Such lifestyles lead to multiple nutritional disorders in people, especially young ones. Also, as a result of immense work pressure, fatigue is quite common among people. It is because of these health awareness reasons, the global vitamin and mineral premixes market tends to show growth in the forecast period.
Geographically, the vitamin and mineral market is segregated in North America, Asia Pacific, and Europe. Among these regions, the region of North America shall rise faster than the other regions in the forecast tenure. The U.S market alone is expected to gain revenue worth $400 million by the end of 2026. This growth shall be the result of raising awareness of fitness and a wide presence of various pharmaceuticals companies in the U.S market.
Driving Factors of Global Vitamin and Mineral Premixes Market
Global vitamin and Mineral premixes market is majorly driven by the rising demands of health supplement products. As a result of exhausting work culture and an unhealthy lifestyle, people are facing fatigues very often. This as results strengthens the market of energy tonics, pills or syrup, further helping in the growth of global vitamin and mineral premixes market. Also, the rising awareness of people towards their health and also promotes the growth of vitamin and mineral market globally.
Restraints Hampering the Growth of Vitamin and Mineral Premixes Market
In order to have an optimum vitamin and mineral premix product, the organization must have extensive research and development. However, the R&D is not that easy and requires a huge investment of time and money. It is the high cost involved in R&D, purchasing raw materials, and even expensive equipment that may hamper the growth of global vitamin and mineral premixes market. However, the rising demands of health and fitness supplements along with ever-rising fitness awareness, global vitamin and mineral premixes market will likely to grow substantially in the forecast period.
The study presented here is based on a report by Transparency Market Research (TMR) titled “Vitamin & Mineral Premixes Market (Ingredient Type - Vitamin & Mineral Combinations, Vitamins, and Minerals; Form - Powder Form and Liquid Form; Application - Food & Beverages, Dietary Supplement, Early Life Nutrition/Baby Food, Pharma OTC, and Other Applications; Function - Energy, Weight Management, Bone Health, Digestion, Heart Health Vision Health, Brain Health & Memory, Immunity, and Others) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2026”.
The global vitamin and mineral premixes market can be segmented into:
- Ingredient Type
- Vitamin and mineral combination
- Powder form
- Liquid form
- Food and Beverages
- Dietary Supplements
- Early life Nutrition/Baby Food
- Pharma OTC
- Weight Management
- Bone Health
- Heart Health
- Vision Health
- Brain Health & Memory
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