- Press Release -

A recently published report by Fact.MR reveals that the global food premix market is projected to grow at a modest CAGR of 5.6% during the forecast period (2022-2032), surpassing nearly US$ 2.73 Bn by 2032.

Mounting instances of appetite loss among the aging population has led them to spend more on fortified and functional food. The growing requirement for nutrition-rich food among health-conscious consumers has led manufacturers to incorporate health-benefiting ingredients such as vitamin premixes. Food manufacturers are utilizing various ingredients to enhance the appeal, flavor, and functionality of food products.

Key Takeaways from the Market Study

• Global market to surpass US$ 1.58 Bn by 2022.
• U.S to be a highly lucrative market, registering a CAGR of 6% through 2032
• 3/5th of global food premix revenue to be generated by Germany
• India to register a CAGR of 5.5% with respect to food premix sales until 2032
• Revenues from sales of powdered food premixes will remain considerably larger.
• Amino acids will endure as the preferred ingredient type, with an envisaged market revenue share of over 33%.
• Weight management and energy will remain preferred functions among consumers.

“Increasing demand for nutritional supplements, owing to insufficient food intake, especially among children, is supplementing demand for food premixes, with increased emphasis on point-of-use food fortification with micronutrient powders,” says a Fact.MR analyst.

Competitive Landscape

Major players in the global market of food premix are Hexagon Nutrition Pvt. Ltd., SternVitamin GmbH & Co. KG, Lycored Ltd., Barentz International, WATSON-INC, Prinova Group LLC, Fenchem Biotek Ltd., Farbest Brands, BASF SE, Jubilant Life Sciences, Koninklijke DSM N.V., Archer Daniels Midland Company, and Glanbia plc. Frontrunners are emphasizing capacity enhancements and global footprint expansion to leverage lucrative prospects in developing economies. Some notable developments are as follows:

• In July 2021, Corbion closed an agreement to acquire full ownership of Granolife. With the addition of the footprint, expertise, blending capabilities, and application labs of Granolife, the company expects the capability to make a step-change in the Mexican market.

• In December 2020, Prinova launched a range of premixes for dairy replacement products to help manufacturers respond to the plant-based revolution. In a new white paper, the company highlights the growing prevalence of vegan and other non-dairy diets and their impact on plant-based markets. In line with Innova Market Insights’ “Plant-Forward” trend, the ever-evolving plant-based definition expands vegetarian and vegan NPD into the mainstream.

More Insights Available

In its latest report, Fact.MR offers an unbiased analysis of the food premix market, providing historical data for the period of 2016-2020 and forecast statistics for the period of 2021-2031.

The global market for food premix is segmented on the basis of form type (powder and liquid), ingredients type (vitamins, minerals, nucleotides, amino acids and botanicals), function type (bone health, immunity, digestion, energy, heart health, weight management, vision health, brain health & memory and other function types) and application (early life nutrition/baby food, food & beverages, dietary supplements, pharma OTC and nutritional improvement program), across seven regions (North America, Latin America, Europe, East Asia, South Asia, Oceania and Middle East & Africa).

Fact.MR’s Domain Knowledge in Food & Beverages

Our food and beverages consulting team guides organizations at each step of their business strategy by helping you understand how the latest influencers account for operational and strategic transformation in the food and beverages sector. Our expertise in recognizing the challenges and trends impacting the global food and beverages industry provides indispensable insights and support – encasing a strategic perspective that helps you identify critical issues and devise appropriate solutions.

For more information, refer to our market research report or contact the PR author.

Nandini Roy Choudhury

Fact.MR

Sr. Consultant – Food and Beverages

E-mail: nandini@factmr.com