The Europe Vitamin & Mineral Premixes Market would witness market growth of 5.7% CAGR during the forecast period (2022-2028).
Food fortification is one of the safest and most cost-effective measures to improve the nutritional value of food. It has been applied to improve the nutritional status of target populations in various countries by adding value to simple, affordable staple foods. The demand for fortified foods is exceptionally growing among health-conscious people. In the last decade, consumer demands in food production have changed considerably.
Consumers more and more believe that foods contribute directly to their health. Foods are not only intended to satisfy hunger and provide necessary nutrients for humans but also to prevent nutrition-related diseases and improve consumers' physical and mental well-being. Hence, the increasing demand for fortified food is expected to boost the demand for vitamin and mineral premixes.
The increasing intake of processed foods along with losses of naturally occurring vitamins in these foods during their processing and storage have led to the practice of adding vitamin premixes to processed foods so as to reduce nutritional deficiencies in the population. Vitamin premixes accounted for the largest food premix market share in 2017. The growth of this segment is mainly attributed to increasing consumer preferences for blends of different functional ingredients, multiple nutritional benefits to humans, growing consumption of vitamin supplements due to rising number of vitamin deficiency cases, and increasing demand for vitamin fortified food products.
In 2021, the total number of cattle and calves was 9.6 million, a decrease of 0.1% from 2020.The beef and dairy herds have remained largely unchanged in recent years at approximately 1.5 and 1.9 million animals respectively. The total number of poultry in the UK increased by 4.4% to 190 million birds in 2021 compared to 182 million in 2020. With this flourishing industry, the need for vitamin and mineral premixes is rising in the region to provide optimum nutrition for Poultry during their entire productive life through feeds. Furthermore, various manufacturers are focusing on including an expansive line of functional ingredients like flavors, and nutraceuticals, which offer good taste and are also healthy for the human body. All these factors would support the expansion for vitamin & mineral premixes market in Europe.
The Germany market dominated the Europe Vitamin & Mineral Premixes Market by Country in 2021; thereby, achieving a market value of $701.2 Million by 2028. The UK market is exhibiting a CAGR of 4.9% during (2022 - 2028). Additionally, The France market would experience a CAGR of 6.5% during (2022 - 2028).
Based on Type, the market is segmented into Vitamin, Vitamin & Mineral Combination and Mineral. Based on Form, the market is segmented into Dry and Liquid. Based on Application, the market is segmented into Feed, Healthcare, Food & Beverages and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Vitamin & Mineral Premixes Market will Hit $10.4 Billion by 2028, at a CAGR of 6.2%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include BASF SE, Glanbia PLC, Archer-Daniels-Midland Company, Koninklijke DSM N.V., Corbion N.V., Nutreco N.V. (SHV Holdings N.V.), SternVitamin GmbH & Co. KG (Stern-Wywiol Gruppe GmbH & Co. KG), Vitablend Nederland B.V., Wright Enrichment, Inc. and Farbest Brands
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