Fact.MR, in its latest business intelligence study, depicts the nuts and bolts of the global mineral ingredients market. The report presents detailed information regarding the drivers, restraints, opportunities and trends affecting market growth.
Each segment along with its sub-segment is analyzed in terms of value and volume. Further, the report elaborates the market behavior of each vendor operating in the mineral ingredients market.
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Key findings of the Mineral ingredients market study:
- Regional breakdown of the Mineral ingredients market based on predefined taxonomy.
- Innovative manufacturing processes implemented by Mineral ingredients vendors in detail.
- Region-wise and country-wise fragmentation of the Mineral ingredients market to grasp the revenue, and growth outlook in these areas.
- Changing preferences among consumers across various regions and countries.
- Factors (Positive and Negative) impacting the growth of the global Mineral ingredients market.
Merger of Traditional Businesses with Novel Businesses Get an Uptick
The market for mineral ingredients has become fragmented with a multitude of multinational and regional players entering the market with a plethora of mineral ingredients offerings. Some of the key companies competing in the market are Corbion N.V., Haifa Chemicals, Dupont De Nemours and Company, K+S Akteingesellschaft etc. The mineral ingredients market frontrunners are currently focusing on building and expanding their business portfolio with investments in multiple other verticals.
- In September 2019, Corbion N.V., a prominent player in the mineral ingredients market, acquired Granotec do Brazil, to foray into production of functional blends for the bakery industry.
- DuPont, after its separation from the DowDuPont collaboration in April 2019, has slowly started to spread its mineral ingredients businesses with strategic acquisitions and collaborations. It acquired the membrane business of Evoqua Water Technologies Corp and ultrafiltration membrane business from BASF in October 2019.
- Corbion N.V. for instance, has developed a line of Pura formulations of mineral ingredients, targeting Calcium, Zinc and Magnesium enrichment of dairy-based beverages. Companies also offer specially formulated mineral ingredients, though in smaller quantities, for cosmetics and personal care industry, which adds an uptick to the growth of the market. For example Suntribe AB launched a sunscreen which included mineral ingredient, Zinc oxide, as a natural alternative to chemical UV-filters
- Premium bottled water is another vertical where mineral ingredients are utilized and with the growth in consumption of bottled water the demand for mineral ingredients is projected to grow.
- In October 2019, An Indian firm, A.V. Organics launched ‘Evocus’ which are bottles containing black-colored alkaline mineral water, and projects the sale of these bottles to grow to 5 million bottles in India by 2020.
While the frontrunners in mineral ingredients market are looking to diversify their product portfolios, follower companies are eyeing to capture the white space created by collaborations and supply partnerships.
Top Companies in Mineral ingredients Market
Mineral ingredients market is characterized by high competition, where regional footprint of individual players varies among regions. Players such as Haifa Chemicals Ltd., Yara International ASA, and Koninklijke DSM N.V. have high global footprint, while Corbion N.V., Dupont De Nemours, Inc. and Minerals Technologies, Inc. have a moderate global footprint.
Market Trends
- Growing demand for fortified and functional food: There has been an increasing consumer demand for foods and beverages that provide added nutritional benefits. Mineral ingredients, such as iron, calcium, zinc, and magnesium, are being used to fortify various food and beverage products to enhance their nutritional profile. This trend is driven by the rising awareness of health and wellness among consumers.
- Rise in vegan and vegetarian diets: The shift towards plant-based diets, including vegan and vegetarian lifestyles, has influenced the mineral ingredients market. Plant-based sources of minerals, such as iron from legumes and calcium from plant-based milk alternatives, are gaining popularity. Manufacturers are incorporating these plant-based mineral ingredients into their products to cater to the growing vegan and vegetarian consumer base.
- Increased focus on clean label products: Consumers are becoming more conscious of the ingredients used in their food and beverages. They are seeking products with clean label claims, which means minimal or no artificial additives or ingredients. Mineral ingredients that are naturally derived or have clean label attributes, such as natural colors and flavors, are in high demand. This trend is driving the use of mineral-rich natural ingredients, like sea salt and mineral-rich plant extracts.
- Growing importance of personalized nutrition: Personalized nutrition is gaining traction as consumers look for customized dietary solutions to meet their specific nutritional needs. Mineral ingredients are being utilized in personalized nutrition programs to address nutrient deficiencies or support specific health goals. This trend is facilitated by advancements in technology and data analysis, enabling personalized recommendations based on individual characteristics, such as age, gender, and health conditions.
- Increasing application in the beauty and personal care industry: Mineral ingredients have found applications beyond the food and beverage sector and are increasingly used in the beauty and personal care industry. Minerals like zinc oxide, titanium dioxide, and iron oxide are used in sunscreen, skincare, and cosmetics due to their UV protection and coloring properties. The growing demand for natural and organic personal care products has further fueled the use of mineral ingredients in this industry.
Segmentation
The mineral ingredients market can be segmented based on various factors. Here are some common segmentation approaches used in the industry:
- By Type of Mineral:
- Macro Minerals: This includes minerals required in larger quantities by the body, such as calcium, magnesium, sodium, potassium, and phosphorus.
- Trace Minerals: This includes minerals required in smaller quantities by the body, such as iron, zinc, copper, selenium, iodine, and chromium.
- By Source:
- Synthetic: Minerals produced through chemical synthesis or manufacturing processes.
- Natural: Minerals derived from natural sources, such as plants, animals, or mineral deposits.
- By Form:
- Powders: Mineral ingredients available in powdered form, which are often used in food and beverage applications or as dietary supplements.
- Liquids: Mineral ingredients in liquid form, commonly used in liquid dietary supplements, functional beverages, and pharmaceutical products.
- Capsules and Tablets: Mineral ingredients formulated into solid dosage forms, typically used in dietary supplements and nutraceuticals.
- By Application:
- Food and Beverages: Mineral ingredients used in fortification, functional foods, beverages, and nutritional supplements.
- Pharmaceuticals: Minerals incorporated into pharmaceutical formulations, including tablets, capsules, and liquid medications.
- Personal Care and Cosmetics: Mineral ingredients used in skincare products, cosmetics, hair care, and oral care products.
- Animal Nutrition: Minerals added to animal feed for improved nutrition and health of livestock and pets.
- Agriculture: Minerals used as fertilizers or soil amendments to enhance crop growth and quality.
- By End-User:
- Consumers: Mineral ingredients consumed directly by individuals as part of their diet or through dietary supplements.
- Food and Beverage Manufacturers: Mineral ingredients used by companies in the food and beverage industry to fortify their products.
- Pharmaceutical and Nutraceutical Companies: Mineral ingredients used in the formulation of pharmaceuticals and nutraceutical products.
- Animal Feed Producers: Mineral ingredients used in the production of animal feed for livestock and pets.
Queries addressed in the Mineral ingredients market report:
- Why are the Mineral ingredients market players targeting region for increased product sales?
- What patented technologies are the players utilizing in the global Mineral ingredients market?
- Which regions are displaying the fastest growth in the Mineral ingredients market?
- What are the underlying micro- macroeconomic factors affecting the global Mineral ingredients market?
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