Lack of time to focus on diet, exercise, and physical activity has led to several people fall prey for nutritional disorders. At the same time, with the easy access to fast food products and junk food, children and youth have become less immune to microbes and infections. All these lifestyle issues call for nutritional products to help people meet their dietary requirements. The global vitamins & mineral premixes market has been growing at a steady pace in the past few years, and is predicted to attain a higher CAGR in the forecast period.
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The global vitamin & mineral premixes market was valued at US$ 700mn by the end of 2017. Analysts state that the market could attain an overall value of US$ 1bn by the end of 2026. This is expected to happen due to a steady CAGR of 4.8% between 2018 and 2026. Several factors like increased health and fitness consciousness, impetus on healthcare in developed and developing nations, and rising literacy levels among people are fueling demand for vitamin & mineral premixes. Further, internet and social media also play a crucial role in creating awareness about vitamin & mineral premixes.
The global vitamin & mineral premixes market is segmented based on ingredient, form, application, and function. Among these the application sector is expected to hold the highest share in the global vitamin & mineral premixes market.
Sedentary lifestyle had led to several nutritional disorders among people, especially young population across the world. It has become a common trend to consume nutritional supplements either in the form of pills, syrup, or food items. The growing consciousness towards health is fueling demand in the vitamin & mineral premixes market.
Many people due to immense work pressure and long working hours are unable to take care of their dietary requirements. This leads to fatigue and other lifestyle problems. Hence, many young professionals are starting to take nutritional supplements on the go. Food products which are rich in nutrition and can be consumed on the go are shooting up consumption in the vitamin & mineral premixes market.
At the same time the growing fitness interest among young people across the globe is paving way for nutritional products. To achieve stringent fitness targets, sportspersons and fitness enthusiasts consume vitamin & mineral premixes.
North America to Remain the Dominant Region in Vitamin & Mineral Premixes Market
Geographically, the global vitamin & mineral premixes market is divided into North America, Asia Pacific, Europe, and Rest of the World. Among these, North America has held the highest share so far, and is predicted to maintain the status by the end of 2026. U.S. market alone is expected to stand at a total value of US$ 400mn by 2026. The high awareness levels among people about their health and the wide presence of pharmaceutical companies in the U.S. are key factors for growth in the vitamin & mineral premixes market.
Meanwhile Europe will follow North America in growth in the coming years. Asia Pacific will emerge as a key market for players in the vitamin & mineral premixes market. The rise in corporate organizations, rapidly developing economies like India and China, and a health conscious population will propel consumption of vitamin & mineral premixes in the future