A brief of Mineral Ingredients market report
The business intelligence report for the Mineral Ingredients market offers a comprehensive outline of essential aspects regarding the product classification, crucial definitions, and other industry-specific parameters.
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The Mineral Ingredients market report also covers the key factors associated with the current events such as mergers and acquisition, partnerships and new product launches. Further, the research hands over a strong foundation for gathering a plethora of insights that potential customers can use to improve their returns and decrease costs. The depiction of data on Mineral Ingredients market segmentation by type, application, and geography offers a critical viewpoint of, what manufacturers are looking for the foreseeable timeframe.
The concept of functional foods is providing a paradigm shift to the mineral ingredients market. The demand for functional foods has increased by leaps and bounds in the past half-decade, which in turn has been creating lucrative avenues for the mineral ingredients manufacturers.
The growth of other industries where mineral ingredients are finding extensive application such as dairy products and infant formula, have created a conducive environment for growth of mineral ingredients market. Amid safety concerns, companies are channelizing research and development initiatives to scour novel sources of mineral ingredients from seeds and barks of plants, vis-a-vis mineral ingredients traditionally obtained from mining salts.
On this backdrop, the global market for mineral ingredients is expected to reach ~ US$ 935 Mn by the end of 2027, growing at a moderate CAGR of about 5.5%.
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Key Takeaways from Mineral Ingredients Market
- Iron, Magnesium, Zinc and Calcium will emerge as widely consumed mineral ingredients, as the deficiency of these minerals is observed to be at a higher degree amongst consumers. Iron deficiency is observed in 25% of the global population while the other three range from 12-20%.
- The dietary supplement market is estimated to create an incremental $ opportunity of US$ 92.1 Bn between 2019 and 2027, which is projected to translate into an incremental $ opportunity of about US$ 88.3 Mn for mineral ingredients market.
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- Mineral Ingredients in functional food and food supplements together account for 40% of the market share, whereas ingredients used in dairy products, infant formula, and beverages account for a combined market share of around 30%.
- The U.S., with around one fourth of the market share, leads the demand for mineral ingredients, followed by China. With 55% share in APEJ, China holds a prominent share in the regional mineral ingredients market.
Market Players Dedicated Towards Product Innovation Aimed at Providing Additional Benefits
Clusters of market players present in major regions make this market a highly fragmented one. However, some of the major stakeholders include Corbion N.V., DuPont De Nemours Company, Royal DSM etc. These market players are focusing on organic as well as inorganic growth strategies to maintain a competitive edge in the mineral ingredients market. Expansion of R&D capabilities along with significant acquisitions are the primary strategies opted by major market giants.
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