(I-BusinessNews.Com, July 30, 2021 ) The vitamin & mineral premixes market is projected to reach USD 8.93 Billion by 2022, at a CAGR of 5.2% from 2017 to 2022. In terms of volume, the market is projected to reach 1,615.76 thousand KT by 2022. Vitamin & mineral premixes are powdered or liquid custom blends of a wide range of vitamins and minerals that are used in various applications such as feed, food & beverage, and healthcare products for enrichment or fortification purposes with an objective of enhancing the nutritional value of the product. Premixes can also be defined as custom-designed, complex blends of ingredients associated with the health and wellness attributes of products offered under the human nutrition sector.
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The vitamin & mineral premixes market includes players such as DSM (Netherlands), Corbion (Netherlands), Glanbia (Ireland), Vitablend Nederland (Netherlands), Watson (US), SternVitamin (Germany), The Wright Group (US), Zagro Asia (Singapore), Nutreco (Netherlands), Farbest-Tallman Foods Corporation (US), Burkmann Industries (US), and Bar-Magen (Israel).
The key market players adopted investments and strategic alliances-through mergers & acquisitions, expansions, new product launches, agreements & partnerships, collaborations & joint ventures, and investments & divestments-with other players to strengthen their businesses, to explore new and untapped markets, to expand in local areas of emerging markets, and to develop a new customer base for long-term client relationships.
DSM is engaged in nutritional & pharmaceutical ingredients, biomedical materials, thermoplastics, resins, and industrial chemicals. The company operates through four business segments-nutrition, performance materials, innovation center, and corporate activities. It offers its premix products under its broad product line of the nutrition division. The nutrition division of the company comprises DSM Food Specialties and DSM Nutritional Products; DSM Nutritional Products offers premixes for the feed industry. The company also offers customized premix solutions for the pharmaceutical, food, and beverage industries through its Fortitech Premixes brand.
The company consistently focused on expansions and strengthening its R&D capabilities, skillful marketing, and product promotion worldwide with R&D centers in domestic as well as international markets in China, India, the US, Canada, Australia, the UK, and Germany. For instance, in April 2017, DSM expanded its global network of research & development centers by opening a biotechnology center in Delft, Netherlands.
Corbion is a leading company involved in the manufacture of lactic acid, lactic acid derivatives, food ingredients, and biochemicals. The company operates through two major business segments-biobased ingredients and biobased innovations. The biobased ingredients unit consists of two businesses that manufacture food ingredients and biochemical products. The company offers its line of vitamin & mineral premixes through its biobased ingredients segment.
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Corbion has a presence in about 15 countries and markets its products through a wide network of sales offices. The company has manufacturing facilities located in the US, Canada, Spain, the Netherlands, Brazil, and Thailand. The company focuses on organic strategies such as expansions to strengthen its position in the market. For instance, in March 2016, Corbion strengthened its R&D capabilities by opening a new state-of-the-art R&D and applications laboratory in Gorinchem, Netherlands. The new R&D facility will help the company to provide high-quality food ingredients and biochemical products.
Mr. Aashish Mehra