Food Premix Market Value to Grow by Almost USD 3.2 Bn during 2022 - 2032: Future Market Insights
PUNE, INDIA--(Korea Newswire) March 23, 2022 -- In this report, Future Market Insights (FMI) delivers key insights on the global food premix market in its recently published report, titled “Global Food Premix Market: Industry Analysis and Opportunity Assessment, 2022-2032.” In terms of revenue, the global food premix market is estimated to expand at a CAGR of 5.4% over the forecast period, owing to numerous factors, about which FMI offers thorough insights and forecasts in this report.
The increasing demand for food fortification backed by growing demand for fortified custom premixes across the regions by various manufacturers is expected to be the key factors driving the market growth for food premixes. The demand for food fortification has increased significantly in the recent past due to the high rate of micronutrient deficiency disorders among the global population, and the lack of micronutrients in food could lead to severe forms of malnutrition. Thus, foods such as wheat, maize, flour, sugar, and vegetable oils are fortified with vitamins and minerals to ensure the better health of the consumers.
The market is segmented based on form, ingredient type, application type, function type, and regions. On the basis of form the market is segmented into powder and liquid. Based on form the segmentation includes powder and liquid food premixes. The powdered segment is expected to grow at a CAGR of 5.6% over the forecast period.
By Ingredient type global food premix market is segmented into vitamins, minerals, amino acids, nucleotides, and others (botanicals). Vitamins as a premix in various applications are expected to contribute towards maximum revenue growth in the overall food premix market by form. The segment is being expected to be valued at US$ 802.6 Mn by 2027.
By application type, the market for food premix is segmented into, early life nutrition/ baby food, food & beverages, dietary supplements, pharma OTC drugs, and nutritional improvement programs. The food & beverage segment is further sub-segmented into medical nutrition, sports nutrition, fortified dairy & beverages, and bakery products.
The food & beverage segment is expected to contribute towards maximum revenue growth of the food premix market over the forecast period. By function type global food premix market is segmented into bone health, immunity, digestion, weight management, vision health, heart health, energy, brain health & memory, and others. Premixes for weight management are expected to contribute towards maximum revenue growth in the overall food premix market by function type. The segment is being expected to be valued at US$ 515.5 Mn by 2027.
The next section of the report highlights the food premix market, by region, and provides the market outlook for 2022-2032. Main regions assessed in this report include North America, Latin America, Western Europe, Eastern Europe, Asia Pacific Excluding China (APEC), China, and the Middle East & Africa (MEA).
North American market has been estimated to dominate the food premix market, accounting for a maximum revenue share of the market by 2017 end. Collectively, North America, Western Europe & APEC, and China are expected to account for 78.9% revenue share of the global food premix market by 2017 end. However, China is estimated to exhibit a significant CAGR of 7.2% over the forecast period.
Key Segments Covered
By Form :
By Ingredient Type :
· Amino Acids
· Others (botanicals)
By Application Type :
· Early Life Nutrition/ Baby Food
· Food & Beverages
- Medical Nutrition
- Sports Nutrition
- Fortified Dairy & Beverages
- Bakery Products
· Pharma OTC Drugs
· Dietary Supplements
· Nutritional Improvement Programmes
By Function Type :
· Bone Health
· Vision Health
· Weight Management
· Heart Health
· Brain Health & Memory
Some of the key players in the global food premix market include Glanbia plc, Archer Daniels Midland Company, Koninklijke DSM N.V., BASF SE, Jubilant Life Sciences, Fenchem Biotek Ltd., Prinova Group LLC, Watson Inc., Barentz International B.V., LycoRed Limited, SternVitamin GmbH & Co. KG, Farbest Brands and Hexagon Nutrition Pvt. Ltd., and others. The report discusses individual strategies of companies adopted for enhancing their product portfolio, creating new marketing techniques, product offerings, mergers, and acquisitions. The ‘competitive landscape is included to provide report audiences with a dashboard view and company share collectively.
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