The global mineral premixes market size is experiencing robust growth and is projected to reach an impressive US$ 1,742.2 million by 2032, according to recent forecasts. This significant rise, from an estimated US$ 761.1 million in 2022, represents a steady compound annual growth rate (CAGR) of 8.6% over the forecast period (2022-2032). The market’s expansion is being driven by several key factors, including rapid urbanization, increased demand for dairy products, and the burgeoning cattle feed market.
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Key Drivers of Growth
Urbanization and Dairy Demand
The accelerating pace of urbanization has led to changing dietary patterns, with an increasing preference for nutrient-rich food products. This trend is particularly evident in the rising demand for dairy products, which are often fortified with essential minerals.
Expansion of the Cattle Feed Market
The cattle feed market is expanding rapidly, driven by the growing demand for meat, milk, eggs, and other livestock products. Mineral premixes, which are complex mixtures of essential minerals like calcium, iron, phosphorus, and magnesium, play a crucial role in enhancing the nutritional value of animal feed. As the global population continues to grow, the importance of cost-effective and safe animal feeds has become more pronounced, further boosting the demand for mineral premixes.
Market Segmentation and Insights
Form: Powder vs. Liquid
In terms of form, powdered mineral premixes are expected to dominate the market, thanks to their ease of handling, better homogeneity, and superior stability compared to liquid forms. This segment’s benefits, such as simple transport economics and better premix stability, make powdered mineral premixes the preferred choice for many applications.
Application: Poultry Feed Leads
Among various applications, the poultry feed segment is anticipated to hold the largest share of the mineral premixes market. The rising consumption of compound feed, along with the increasing awareness of pet nutrition, is driving the demand for mineral-enriched foods in this segment. Additionally, the use of mineral premixes in new product applications, including dairy products, cereal-based products, nutritional foods, infant formulas, beverages, and dietary supplements, is on the rise.
Competitive Landscape
Industry players are actively developing strategies to expand their existing product portfolios and acquire industry-related companies to maintain their market positions. Innovations and new product developments are also a focal point for gaining a competitive edge.
For instance, Royal DSM, a global science-based company in Nutrition, Health, and Sustainable Living, acquired Glycom A/S, the world’s leading supplier of Human Milk Oligosaccharides (HMO), for an enterprise value of €765 million in April 2020. This acquisition aimed to expand early life nutrition solutions in the human nutrition business segment.
Mineral Premix Market By Category
By Form:
- Powder
- Liquid
By Function:
- Bone Health
- Immunity
- Digestion
- Energy
- Heart Health
- Weight Management
- Vision Health
- Brain Health & Memory, Resistance, Others
By Application:
- Food Sector
- Dietary Supplement
- Pharma OTC Drugs
- Pet Food
By Region:
- North America
- Latin America
- Europe
- Middle east and Africa
- East Asia
- South Asia
- Oceania
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