Global Food Premix Market is estimated to be valued at US$ 1.6 Billion in 2021, according to the Global Food Premix Market Report, by Ingredients (Vitamins, Minerals, Nucleotides, Amino, Acids, Botanicals), by Form (Powder, Liquid), by Functions (Bone Health, Immunity, Digestion, Energy, Heart Health, Weight Management, Vision Health, Brain Health & Memory, Others), by Application (Early Life Nutrition/Baby Food, Food & Beverages (Medical Nutrition, Sports Nutrition, Fortified Dairy & Beverages, Bakery Products), Dietary Supplement, Pharma OTC, Nutritional Improvement Program), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East and Africa), published by Coherent Market Insights.
Global food premix market was valued at US$ 1.6 Billion in 2021 and is expected to register a CAGR of 4.6% over the forecast period (2022–2030). Food premix is a mixture of micronutrients such as vitamins, amino acids, minerals, and nutraceuticals that are individually added to the food in order to enhance the nutritional value of the fortified food. Premix in food helps to manage the weight and provide essential nutrition required by the body. In dairy products, it is used to enhance the content of vitamin D to improve calcium absorption and metabolism. Vitamin and mineral serve an innovative nutritional solution for food fortification such as edible oil with important micronutrients. Production of premix is a precise process because the product should meet the highest expectations of applications such as clinical nutrition and infant nutrition products. Early life nutrition/baby food, food & beverages, dietary supplement, pharma OTC, and nutritional improvement program are some of the major application areas of premix.
During the COVID-19 pandemic, large-scale food fortification was done to ensure people consumed enough nutrients for growth, development, and proper health. It aims to support the availability of premix through hubs to stabilize supply and keep fortification program operational, ensure fortified foods reach the most vulnerable through social safety net programs, and adjust advocacy efforts to match the demands of the new COVID-19 context.
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/food-premix-market-3676
Browse 50 market data tables* and 40 figures* on "Global Food Premix Market” - Forecast to 2030.
Key Trends and Analysis of the Global Food Premix Market:
- Continuous innovation in the product by the manufacturer in order to meet the rising demand and expand their presence is expected to accelerate the market growth of food premix. For instance, in February 2020, Society Tea, an Indian tea brand launched a new product – Cleanse, which is made of ingredients known to accelerate metabolism and help build immunity. This tea contains ingredients like turmeric which is known (as per Ayurveda) to be beneficial for skin related problems, common cold, etc.
Key Takeaways of the Global Food Premix Market:
- The rising expense of healthcare, the consistent rise in life expectancy and the desire of aged people for a better quality of life in their later years are the key drivers of food premix demand among health-conscious consumers. Therefore, food and beverage producers are increasingly incorporating food premixes into their products as customer demand for functional and nutrient-rich foods develops, fuelling the expansion of this market.
- Owing to factors like the aging population's rising malnutrition rates and consumers' growing need for nutrient-dense foods, the global food premix market size is anticipated to grow over the forecasted period. Growing food fortification and new born feeding products are two other significant factors increasing demand for the food premix market. Furthermore, an increase in the number of new products launched accelerates the global food premix market size.
- New product launches, merger & acquisitions, strategic partnership expansion, and research & development activities for the food premix industry are key strategies adopted by players in the global food premix market. For instance, in June 2021, Prinova, a worldwide provider of ingredients, flavors, and nutrient premixes, creates a refined e-commerce experience with the launch of its new website. Part of a complete global site launch, the regional experience in the U.S. and Canada features access to live pricing, regulatory documents, and extensive data on 400+ ingredients.
