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Mineral Ingredients Market

Mineral Ingredients Market

Mineral Ingredients Market Analysis Report By Type (Micro , Macro Nutrients), By Application (Dairy Products, Infant Formula, Bakery & Confectionery, Functional Food, Food Supplements, Beverages), By Region - Global Market Insights 2019-2027

Mineral Ingredients Market
FACT428MR
  • Mar-2022
  • List of Tables : 111
  • List of Figures : 123
  • 170 Pages
  • Food & Beverage

Mineral Ingredients Market Registers Significant Gains as Sales of Micro-nutrients Skyrocket

With a surge observed in the popularity of fast food and ready-to-eat food, particularly in growing economies of Asia Pacific, nutritional deficiencies and related ailments have also come to fore in increased numbers.

About 2 Bn people across the globe are affected by a micro-nutrient deficiency such as iron, zinc and iodine. Around 31% of the daily caloric intake in an average American diet comes from mineral ingredient-deficient foods.

The demand for swift supplementation of natural minerals has gained immense traction in the past decade with many companies in food and healthcare sectors heavily investing on developing a vast repertoire of mineral ingredients that can be easily delivered through food and beverages.

This has paved the way for exciting prospects for the growth of the mineral ingredients market in the coming years, projected to touch US$ 935 Mn by the end of 2027, according to the newest report by Fact.MR

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Powdered Mineral Ingredients Resurgent as They Capture 2/3rd Market Share

Powder form of mineral ingredients have held more than 2/3rd of the market share for the past 5 years and are projected to continue to be the most attractive form, attributable to its versatile usage in food products like flours and malts.

The production cost of powder form of mineral ingredients is low as the processing time required for raw material is less as compared to other forms. The cost incurred in transportation of mineral ingredients in powder form is also considerably lower, which consequently increases the profit margins of the manufacturers.

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Manufacturers Cashing In as Product Innovations Abound

With a large chunk of global population suffering from deficiency of one or multiple mineral ingredients, the companies in the market have developed a plethora of formulations of mineral ingredients to fulfil the needs of various cross-sections and for numerous applications in the food and beverage industry.

  • 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.

mineral ingredients intensity mapping

With multiple manufacturers offering a plethora of products, their attention towards regional markets is seeing a definite shift over the course of time.

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.

Europe Propels Ahead as Spending Capacity Gains Momentum

  • The high cross section of geriatric population in Europe at about 19%, as compared to global average of 12%, has led to an increased demand for mineral ingredients in food supplements. Europe currently holds 1/3rd of the mineral ingredients market share and is set to continue its lead during the forecast period. This is well supported by the strong spending capacity of European people and presence of key mineral ingredients manufacturers in the region like K+S Aktiengesellschaft, Yara International, Corbion N.V. among others.
  • The market for mineral ingredients in APEJ region is expected to have a substantial growth. It is estimated that the average per-capita spending on bottled water in India has risen by 20% in last couple of years while the same has risen by 15% in China.
  • Along with bottled water, the demand for infant formulation with mineral ingredients is also expected to rise. For instance, Nestle runs an advertisement for its product Ceregrow, which the company claims to be fortified with 15 vitamins and mineral ingredients important for the physical and mental development of new-borns and infants. Owing to these factors, mineral ingredients market in APEJ is projected to expand 1.8x between 2019 and 2027.
  • The market for mineral ingredients in China is expected to expand by 1.8x during 2019 – 2027. Anticipated performance of some key countries is also mapped below

mineral ingredients regional performance image

Emergence of Dietary Restrictions Could Clamp Down Growth of Mineral Ingredients Market

Lack of awareness about the disadvantages of over-consumption of mineral ingredients can lead to serious health issues, which can restrain the growth of the market. Moreover, the emergence of dietary restrictions, like vegan and organic diets, followed by a considerable cross-section of population also restricts the consumption of mineral ingredients as many ingredients do not fall in line with such restrictions. These factors will restrain the mineral ingredients market growth.

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 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.

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.

For instance, Koninklijke DSM N.V. signed a multiyear mineral ingredients supply agreement with Corning in February 2016. These partnerships and agreements not only spread the reach of mineral ingredients manufacturers in the global market, but also ensure regular demand for company’s products on a recurrent basis.

Segmentation

Region
  • North America
  • Latin America
  • Europe
  • Japan
  • APEJ
  • Middle East and Africa
Type
  • Micro Nutrients
  • Macro Nutrients
Form
  • Powder
  • Liquid
  • Other Forms
Application
  • Dairy Products
  • Infant Formula
  • Bakery & Confectionery
  • Functional Food
  • Food Supplements
  • Beverages
  • Other Applications

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