Vitamins and Minerals Market - Global Industry Dynamics 2019-2020, Trends and Forecast 2021-2028

The human body requires vitamins and minerals to function efficiently. Food is the best source of minerals and vitamins. Each of these elements allows the body to stay competitive with the immune system and protect it from different diseases. The human body needs trace and macro minerals, and vitamins, which are very essential minerals. Calcium, magnesium, chloride, sodium, and potassium are the ingredients that are known as the minerals in essential food. The lack of nutrient-rich food is rising the need for these minerals and vitamins. Therefore, this rising demand drives the market for minerals and vitamins. Vitamins and minerals provide livestock with nutritional needs. The segment of vitamins and minerals includes over-the-counter organic and inorganic food supplements such as vitamins, minerals, multivitamin preparations, and tonics. Vitamins and minerals include capsular preparations, tablets, dragees, liquids, granulates, powders, ampoules, and oral syrups.

Driving and Restraining Factors:

  • One of the key factors driving the vitamins and minerals market is the rising demand for functional and fortifies food

  • An increase in population and health concerns over food and safety is anticipated to propel the vitamins and minerals market globally. In addition, factors, such as continuous growth in the use of compound feed and a rise in awareness about food and hygiene are expected to fuel market growth.

  • Need for food enhancement due to the high rate of food processing expected to drive the market

  • According to customer needs, customizability and accuracy in ingredients is a major factor, which can be beneficial to customers

  • The major restraining factor is the high cost incurred for research and development activities, which can hinder the growth of the vitamins and minerals market

  • Despite the high costs, a substantial number of customers belonging to the middle-income community hesitate to buy fortified and enriched products. This may hamper the adoption rate of the vitamins and minerals market in the upcoming years.

Trends & Opportunities:

  • In several countries, the fortified/functional packaged food sector is rising strongly due to the high rate of disposable income. Moreover, this aspect allows other customers to include goods with added value.

Market Segmentation:

  • The global vitamins and minerals market can be segmented based on application, type of source, functionality process, distribution channel, and region

  • Based on application, the global vitamins and minerals market can be classified into food & beverages, healthcare, feed, and personal care. Furthermore, the food & beverages segment is sub-segmented into beverages, bakery products, dairy products, cereals, and others. The healthcare segment is sub-divided into dietary supplements and nutritional products.

  • Based on the type of source, the global vitamins and minerals market can be split into vitamins, minerals, the combination of both vitamins & minerals, and others

  • Based on the functionality process, the global vitamins and minerals market can be segregated into skin health, bone health, immunity, digestion, energy, and others

  • In terms of the distribution channel, the global vitamins and minerals market can be bifurcated into online and offline. The offline segment can be further divided into specialty stores, supermarkets/hypermarkets, and others. The online segment can be sub-divided segmented into e-Commerce websites and company websites.

  • In terms of region, the global vitamins and minerals market can be divided into North America (U.S., Canada, and Rest of North America), Europe (U.K., Germany, France, Italy, and Rest of Europe), Asia Pacific (China, India, Japan, and Rest of Asia Pacific), Middle East & Africa (GCC Countries, South Africa, and Rest of the Middle East & Africa), and South America (Brazil and Rest of South America)

Competition Landscape:

  • Prominent players operating in the global vitamins and minerals market include Glanbia plc, DSM, SternVitamin GmbH & Co. KG, Corbion, Wright Enrichment Inc., Watson Inc., Zagro, Farbest Brands., Burkmann, Magen LTD, Coalescence LLC., Hexagon Nutrition Pvt. Ltd., MirPain Food Ingredients., Prinova Group LLC, AQC Chem Lab Pvt. Ltd., Nutreco N.V., etc.

Segments:

  • By Application:

    • Food & Beverages

    • Healthcare

    • Feed

    • Personal care

    • Others

  • By Type of source:

    • Vitamins

    • Minerals

    • Combination of both vitamins & minerals

    • Others

  • By Functionality process:

    • Skin health

    • Bone health

    • Immunity

    • Digestion

    • Energy

    • Others

  • By Distribution channel:

    • Online

    • Offline

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