Global Vitamin and Mineral Ingredients Market Overview:
The increase in cases of loss of appetite has led individuals to spend on functional and fortified food products. With the growing need for nutrient-rich food products, manufacturers are focusing on the development of functional food products combined with health-enhancing ingredients, such as vitamins and minerals. In addition, food manufacturers use vitamins and minerals as an important ingredient because they improve the taste, functionality and attractiveness of food products.
Global Vitamin and Mineral Ingredients Market Drivers and Restraints:
Vitamin and mineral ingredients worth more than USD 1 Billion are expected to be sold by the end of 2026. Changing health-conscious consumer preferences for high-nutrient foods while prospects for ingredients of vitamins and minerals appear positive and growing concerns about side effects, such as allergic reactions, can hamper market growth during the forecast period.
Linked to the fast lifestyle, consumers end up spending on high-calorie foods. Due to the increasing consumption of foods high in cholesterol, consumers are prone to various diseases, such as heart problems, diabetes and obesity. Based on the growing health needs of the people, the main manufacturers focused on the development of innovative and healthy snacks. To complement the health requirements of customers, manufacturers use an adequate amount of vitamin and mineral ingredients in food products.
It is also expected that the demand for ingredients of vitamins and minerals will remain high in the feed industry. With the increasing adoption of pets in people, the demand for animal feed products such as compound foods will remain high throughout the world. The increase in the production of compound feed for pets, farm animals and marine animals have led manufacturers to use nutritional ingredients as an important ingredient. Given these factors, growth in the global market should remain positive.
In addition to the food industry, the main manufacturers of the pharmaceutical industry are increasingly using vitamin and mineral ingredients. Pharmaceutical manufacturers are increasingly using vitamin and mineral premixes in a variety of medications as they can help repair cell damage, heal wounds and boost the immune system. The pharmaceutical manufacturers use these nutritional premixes to produce medications for organ transplants, heart disease, and other severe diseases.
In addition, the increase in the production of veterinary drugs in the pharmaceutical industry has driven the demand for nutritional ingredients. Veterinary drug manufacturers use vitamin and mineral ingredients to develop products such as DRC medications, disinfectants, anti-biotic food supplements and liver tonic. In addition, the demand for ingredients vitamins and minerals is expected to increase production of performance microbes to improve livestock efficiency.
Global Vitamin and Mineral Ingredients Market Key players:
Cargill, BASF, Lonza, DuPont, Pfizer, DSM, and Cognis are the major players of the global vitamin and mineral ingredients market.
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