The demand for fortified food has been growing across the world owing to the rising awareness about micronutrients and diseases that can be caused by their deficiency. The global food grade vitamin and mineral premixes market was valued at USD 5,263 million in 2018 and is anticipated to grow at a CAGR of 5.1% during 2019 to 2027.
The growth of the global food grade vitamin and mineral premixes market will be driven by the rising consumption of vitamin-and mineral-enriched food & beverage products. The awareness about the importance of eating balanced diets has been growing across the world.The awareness about the importance of micronutrients like iron, zinc, folic acid, iodine, etc. is also rising among the population. A deficiency ofvitamins and minerals can cause several diseases. This has increased the demand for fortified food and beverages and thus, the demand for food grade vitamin and mineral premixes as well.
The rising demand for sports drinks due to increasing participation in sports and physical activity will also give a major boost to the global food grade vitamin and mineral premixes market. Other factors that will give a major boost to the growth of the global market are government fortification programs in many countries of the world, increasing incidence of vitamin D deficiency, and growing demand for dietary supplements.
Due to increasing incidence of vitamin D deficiency, food fortification has gained much importance. Further, the demand for dietary supplements is also growing to prevent chronic ailments. Chronic ailments can be prevented or managed to a great extent by leading a healthy lifestyle and following a healthy and balanced diet. Apart from these, increasing disposable income and rising demand for personalized treatment will support the growth of the global market for food grade vitamin and mineral premixes.
The demand for dietary and nutritional supplements has been growing significantly after the global coronavirus outbreak. Although supplements cannot treat or cure diseases, they can help promote good health and strengthen the immune system. This is the reason why the demand for supplements of vitamin C, D, and zinc, among others, has seen a sharp increase after the Covid-19 pandemic.
The increasing demand for nutritional supplements is expected to have a positive effect on the global food grade vitamin and mineral premixes market. However, on the supply side, the supplement market is currently facing disruptions in the supply chain, as many ingredients used in supplements come from China. This is putting a strain on the supply chain and thus, can have a negative impact on the global market. However, manufacturers are trying to ease the strain on the supply chain and neutralize the effects of the global coronavirus pandemic.
North America has been a major market for food grade vitamin and mineral premixes, as the region has been witnessing growing consumption of dietary supplements. The demand and preference for calcium and vitamin D supplements has been increasing in the region, as these supplements help increase bone mineral density and prevent fractures, especially in postmenopausal women.
The Asia-Pacific food grade vitamin and mineral premixes market is also expected to grow at a decent rate due to increasing income of consumers, changing lifestyle of people, increasing demand for nutritional supplements and healthy food, and growing participation in sports and physical activities.The major players or manufacturers of food grade vitamin and mineral premixes are DSM, Glanbia Nutritionals, SternVitamin, Vitablend, and Hexagon Nutrition, among others.
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