Urbanization has brought in the culture of ready-to-eat food along with fast food, especially in developing economies in Asia Pacific. Consumption of such food products have reported to induce nutritional deficiency and other ailments to it. 2Bn world population is estimated to be suffering from deficiency of micro-nutrients like iron, iodine and zinc. Mineral ingredient deficit food makes a significant proportion of in diets of people in regions like America. Major companies in food and health care segment have gained traction in the recent years owing to the growth in demand for natural minerals in food. Companies are making huge investments to come up with mineral induced food and beverages. This generates exciting prospects in mineral ingredients market.
Low processing cost makes powder form cheap
Latest Fact.MR reports states that the value of global market is expected to reach US$ 935 Mn by the end of forecast period 2019-2027. Mineral ingredients are highly popular in powder form and own two-third share of the global market. Powder form is anticipated to continue its presence as attractive option owing to its versatility of being used in variety of food products including malts and flours. Its production time is also less as the time required to process its raw materials is very less. Moreover, the transportation cost of the powder mineral ingredients is also very low which ultimately surges the profit margins gained by the manufacturers.
Major percentage of global population suffers from deficiency of some or the other mineral ingredient, compelling the companies in global market to develop formulations with mineral ingredients to suffice the growing need. Corbion N.V. has introduced a line of mineral ingredients like calcium, magnesium and zinc rich diary-based beverages. Cosmetics and personal care sector is also surfacing as a major sector in the market with companies launching mineral ingredients infused products. Suntribe AB introduced Zinc oxide containing sunscreen in market.
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Europe leads market in demand
Bottled water is also a leading application in mineral ingredients market. A.V. Organics introduced bottled water. This bottled water consumption is expected to witness growth in sale and 5 million units are expected to be sold in India by the end of 2020. Manufacturers are offering numerous products to attract customers. The competitive landscape is highly intense. Major stake holders in global market are Corbion N.V. and Minerals Technologies, Inc.