Meticulous Research®—a leading global market research company, published a research report titled, ‘Food Premix Market by Type (Multiple Micronutrient Premixes, Vitamin Premixes, Mineral Premixes, Amino Acid Premixes), Form (Powder, Liquid), Application (Health Supplements, Food & Beverages, Pharmaceutical) - Global Forecast to 2030.’
According to this latest publication from Meticulous Research®, the food premix market is expected to grow at a CAGR of 6.9% from 2023 to 2030 to reach $2.93 billion by 2030. The growth of this market is attributed to the rising health & wellness trend, the increasing demand for fortified food products, the convenience in usage offered by food premixes as a single ingredient over multiple ingredients, and the increasing number of individuals with micronutrient deficiencies. Additionally, the growing demand for nutrition from the expanding middle-class population in emerging economies offers significant growth opportunities for food premix manufacturers. However, regulatory structure & intervention and technical problems during storage and handling restrain the market’s growth.
The food premix market is segmented based on type, form, application, and geography. The study also evaluates industry competitors and analyses the market at the regional and country levels.
Based on type, the food premix market is segmented into multiple micronutrients premixes, vitamin premixes, mineral premixes, amino acid premixes, nucleotide premixes, fiber premixes, nutraceutical premixes, and other food premixes. In 2023, the multiple micronutrients segment is expected to account for the largest share of the food premix market. The large market share of this segment is attributed to factors such as the increasing demand for processed food and health supplements to reduce nutritional deficiencies and the rising number of people with nutritional deficiencies. This segment is also slated to register the highest CAGR during the forecast period. The rapid growth of this segment is attributed to the increasing demand from the infant food products and dietary supplement industries.
Based on form, the food premix market is segmented into powder and liquid. In 2023, the powder segment is expected to account for the largest share of the overall food premix market. The large market share of this segment is attributed to the benefits offered by powdered premixes over liquid premixes, such as better homogeneity, ease of use & transportation, and better stability. However, the liquid segment is expected to register the highest CAGR during the forecast period due to the increasing demand from beverage manufacturers. Liquid premix blends help to create new products with greater ease. In product manufacturing, liquid food premixes help to improve viscosity, mouthfeel, product stability, texture, shelf life, taste, and visual aspect.
Based on application, the food premix market is segmented into nutrition and health supplements, food & beverages, pharmaceuticals, and other applications. In 2023, the nutrition and health supplement segment is expected to account for the largest share of the food premix market. The large market share of this segment is attributed to the increasing demand for food premixes in nutrition and health supplements driven by the aging population, health & wellness trend, and high prevalence of diseases. However, the food & beverages segment is projected to register the highest CAGR during the forecast period due to the functional benefits offered by food premixes and the rising demand for fortified food and beverage products.
Based on geography, in 2023, North America is expected to account for the largest share of the overall food premix market. North America’s major market share is attributed to the well-established food & beverages sector, increasing focus on food safety, rising prevalence of chronic diseases, increasing consumer expectations for innovation and healthy food products, strong economic growth, and the presence of major market players in the region. However, Asia-Pacific is projected to register the highest CAGR during the forecast period. The growth of this regional market is attributed to the growth in the food &t beverages industry, rapid economic growth, rising health awareness among consumers, and the increasing demand for fortified food products from emerging and developing countries, such as India, China, Indonesia, and Thailand.
The key players operating in the food premix market are Koninklijke DSM N.V. (The Netherlands), Glanbia Plc (Ireland), BASF SE (Germany), Corbion N.V. (The Netherlands), Watson Foods Co., Inc. (U.S.), SternVitamin GmbH & Co. KG (Germany), Vitablend Nederland B.V. (The Netherlands), Hellay Australia Pty. Ltd (Australia), Farbest-Tallman Foods Corporation (U.S.), Jubilant Life Sciences Ltd. (India), and Wright Enrichment Inc. (U.S.).
Download Free Sample Report Here: https://www.meticulousresearch.com/download-sample-report/cp_id=4236
Key questions answered in the report-
Contact Sales- +1-646-781-8004
Connect with us on LinkedIn- https://www.linkedin.com/company/meticulous-research