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Press Release: Food Premix Market to reach around US$ 2.1 Billion by 2027
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Food premix is blended with minerals vitamins, and other functional ingredients and they are used in fortification for food & beverages. Vitamin premixes, mineral premixes, nucleotides premixes, amino acids premixes, and botanicals premixes are some of the major premixes. Premix composed of excipients (carriers, fillers), fortificants (powdered vitamins and minerals), and free-flow agents. They are gaining traction in the nutritional supplements and other food products as they improve the overall quality and texture of the food products. These ingredients can be classified into vitamins, minerals, nucleotides, amino acids, and botanicals. Food premix is available in two different forms i.e. liquid and powder. Food premix helps to improve bone health, immunity, digestion, heart health, and assist in weight management.
The global food premix market is projected to reach around US$ 2.1 billion by the end of 2027, in terms of revenue, growing at CAGR of 5.5% during the forecast period (2019-2027).
Drivers
Growing demand for fortified food is predominantly fueling the market growth of premix. Rising demand for food fortification due to increasing cases of micronutrient deficiency disorders among the global population and lack of micronutrients in food is augmenting the market growth of food premix. Among all the premix vitamins and minerals are the most commonly used premix in fortified foods and are usually added to wheat flour during milling processes to produce fortified rice kernels.
Growing application of nutrient premixes in the production of infant nutrition owing to increasing consumer preference for the nutritional fortification of infant formula is propelling the market growth. Iron and vitamin D along with the DHA (Docosahexaenoic acid) and ARA (arachidonic acid) are the two most premix use during the production of infant formulas. Hence, growing demand for premix from infant nutrition formula is expected to accelerate the market growth of premix.
On basis of the region, North America dominated the global food premix market in 2018, accounting for 36% share in terms of value, followed by Europe and Asia Pacific.
Figure 1. Global Food Premix Market, Revenue Share (%), By Region, 2018
Market Restraints
High costs involved in food fortification processes for large-scale food production is projected to hinder the market growth of food premix. Food fortification requires advanced technologies for which many manufacturers are outsourcing production of premix which increases the cost of production. Hence, the high cost associated with the food fortification is expected to hamper market growth.
The high cost of raw material used in the production of premix is expected to restrict the market growth of premix. Raw materials used in the production of premix are minerals, vitamins, amino acid, and nutraceuticals which are relatively high and this is expected to restrict the consumption of premix which in turn hampering the market growth of food premix.
Market Opportunities
Increasing usage of microencapsulation technology in the food premix product is projected to accelerate the market growth over the forecast period. The objective of microencapsulation is to enhance the solubility and functionality of food premix products. Many producers are introducing gummy vitamin products such as tablets and capsules with the help of use microencapsulation to stabilize and protect the core material of the gummy vitamins particularly used in a tablet.
The introduction of advanced technologies for manufacturing premix-based products has been increased in recent past years. Due to the introduction of advanced blending technologies such as trituration and microencapsulation methods the production food premix has become easier. Therefore, increasing introduction of advanced blending technology is projected to favor the market growth over the forecast timeframe.
Figure 2. Global Food Premix Market– Opportunity Analysis
Market Trends
Rising popularity powder form premixes across both developed and developing countries is projected to augment the market growth of food premix. Powders premix have excellent properties such as easy solubility in water. Premix powder forms are mostly used in infant nutrition, which enhances the nutritional value of products. These include infant formulas, clinical nutrition, and dietary supplement, confectionery, and bakery products.
The growing trend of a customized blend of desired ingredients especially homogeneous premix, vitamin-mineral which are broadly used across the beverage, bakery, dairy, sports nutrition and food supplements industry is projected to propel the market growth. Some of the major vitamins used are A, E, D, and K and important minerals used in the calcium and magnesium as they are beneficial for enhancing the nutritional value of food products.
Figure 3. Global Food Premix Market, Revenue Share (%), By Application, in 2018
On the basis of application in 2018, the food and beverage segment has accounted the largest market share of 48% in terms of value, followed by dietary supplements and early life nutrition/baby food respectively.
Competitive Section:
Key players operating in global food premix are Archer Daniels Midland Company, Koninklijke DSM N.V., Glanbia plc, Jubilant Life Sciences, Hexagon Nutrition Pvt. Ltd., Fenchem, SternVitamin, Lycored, Barentz, WATSON-INC, Prinova Group LLC, Farbest Brands, and B&H Biotechnology Co. Ltd.
Few Recent Developments
Glanbia plc
In February 2019, Glanbia has agreed to acquire Watson a non-dairy ingredient solutions business headquartered in Connecticut (US) for US$ 89 million (€78.65 million). Watson is engaged in the production of bakery ingredients, edible film and material conditioning solutions for the nutrition, food and beverage, personal care and supplement industries.
Food premix is blended with minerals, vitamins, and other functional ingredients and they are used in fortification for food & beverages. Premix is the food product that helps to manage the weight and provide essential nutrition required by the body. These food premixes are used to enhance the content of vitamin D to improve calcium absorption and metabolism.
Market Dynamics
The global food premix market has witnessed significant growth in recent past years, owing to the growing demand for convenient food products and increasing demand for food fortification among consumers. Based on the application, the global food premix market is bifurcated into the early life nutrition/baby food, food & beverages, dietary supplement, pharma OTC, and nutritional improvement program. Among these segments, the food & beverage segment dominated the global food premix market in 2018, owing to the increasing use of food premix in medical nutrition, sport supplements, bakery products and in the fortified dairy & beverages. This factor is estimated to drive growth of the global food premix market during the forecast period.
Moreover, the early life nutrition/baby food application is estimated to grow in the coming years, owing to the consumer preference for the healthy and nutritional food premixes that are used in baby food. This is in turn is fueling the demand for the food premix during the forecast period.
Furthermore, North America region dominated the global food premix market in 2018, owing to the increasing awareness regarding healthy lifestyle among the consumer of this region. As a result, this scenario is estimated to foster the growth of the global food premix market during the forecast timeframe.
Key features of the study:
Market Taxonomy
“*” marked represents similar segmentation in other categories in the respective section
Table of Contents
* Browse 45 market data tables* and 30 figures* on "Global Food Premix Market” – global forecast to 2027
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