USD 6.31 billion
Report ID:
SQMIG15A2137 |
Region:
Global |
Published Date: July, 2024
Pages:
157
|Tables:
121
|Figures:
77
Food Premixes Market size was valued at USD 6.31 billion in 2019 and is poised to grow from USD 6.69 billion in 2023 to USD 10.7 billion by 2031, growing at a CAGR of 6.93% in the forecast period (2024-2031).
Premixes are prepared commercial formulae that contain each nutrient—such as amino acids, antibiotics, vitamins, minerals, proteins, nucleotides, and others—carefully balanced into and mixed into one another. Food premix is used to fortify foods and beverages by blending it with minerals, vitamins, and other useful substances. Some of the most common premixes are vitamin premixes, mineral premixes, nucleotide premixes, amino acid premixes, and botanical premixes. Premixes have gained popularity in the nutritional supplement and food products sectors due to their proven advantages, such as reduced component inventories and quality expenditures without adding ingredients that might impair the final product's flavour or texture. Due to an increase in cases of appetite loss, aging people are spending more on enriched and functional food. Due to the increased demand for nutrient-rich foods from consumers who are worried about their health, manufacturers now include beneficial additives such as vitamin premixes. To enhance the flavour and appearance of food, companies utilize a number of chemicals.
The emergence of fortified/functional goods has been impacted by consumer desire for items that are convenient, have a consistent composition, taste good, and offer health advantages. The growth of food premixes in the food and beverage sector is expected to be fueled by customised micronutrient blends, which provide affordable solutions while taking high quality raw materials into account.
US Food Premixes Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 6.31 billion
Largest Segment
Vitamins
Fastest Growth
Vitamins
Growth Rate
6.93% CAGR
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The Global Food Premixes Market is segmented on the basis of form, ingredients, functions, application and region. According to the form the Market is bifurcated into Powdered food premixes and Liquid food premixes. On the basis of ingredients, it is sub segmented into Vitamins, Minerals, Amino Acids, Nucleotides and others. Based on the function the market is sub segmented into Bone Health, Immunity, Digestion, Vision Health, Energy, Weight Management, Heart Health, Brain Health & Memory and others. According to application the market is sub segmented into Early Life Nutrition/ Baby Food, Food & Beverages Pharma OTC Drugs, Dietary Supplements and Nutritional Improvement Programmes. Based on the region the Market is categorized into North America, Europe, Asia-Pacific, South America, and MEA.
Food Premixes Market Analysis by Ingredients
The Vitamin premixes segment occupied the highest market share in 2021. The practice of adding vitamin premixes to processed meals to prevent nutritional deficiencies in the populace has arisen as a result of the rising consumption of processed foods and the loss of naturally occurring vitamins in these foods during processing and storage. This market's expansion is primarily attributed to consumers' growing preferences for combinations of various functional ingredients, the fact that humans can benefit from a variety of nutrients, the rising prevalence of vitamin deficiency cases, and the rising demand for food products fortified with vitamins.
The nucleotide food premix segment is expected to grow significantly during the forecast period. This can be attributed to its increasing demand to fortify infant food products.
Food Premixes Market Analysis by Function
The energy segment registered the highest market share in 2021. Energy from the consumption of fortified food and beverage items is used for both physical activity and the maintenance of bodily processes like breathing, blood transport, and cell development and repair. To increase and maintain energy levels in the body, dietary supplements containing vitamin B12, iron, calcium, chromium, and magnesium are commonly eaten.
Bone health management segment is expected to show substantial growth during the forecast period. Widespread consumption of functional foods supplemented with minerals and vitamins has been shown to improve bone and joint health. The demand for the product is projected to increase due to a growing customer preference for using bone health supplements from a young age in order to avoid and/or lessen issues in the future. The addition of vital components including amino acids, minerals, vitamins, and nucleotides is responsible for the rise in customer preference for fortified meals.
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North America had the highest share in the Global Food Premixes Market in 2021.Due to the high incidence of chronic illnesses including diabetes, cancer, and osteoporosis, there is a high demand for food items enhanced with micronutrients, which is the main driver of regional market growth. The need for customized premixes in the dietary supplement application is projected to increase as the ageing population in North America consumes more nutritional supplements. The demand for novel and cutting-edge functional items has also greatly grown due to the nation's expanding elderly population, which is expected to have a beneficial impact on the market growth in North America.
The Asia Pacific region is expected to register a substantially high growth rate during the forecast period. The market is flourishing due to rising per capita disposable income, rising health awareness, and rising usage of nutritional supplements and nutritious foods. Numerous premixes are in demand in Asian nations including India, Australia, China, and others because to the strong food fortification activities and increased exports of animal-based food products. The premix market in Asia is expanding as a result of the compound feed industry's explosive growth, which uses premixes as a crucial element. Large poultry integrators are looking for dependable, high-quality premixes more and more.
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Food Premixes Market Drivers
Demand for Micronutrients to Bolster Market Demand
Food Premixes Market Restraints
Stringent Regulations to Hinder Market Growth
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The global food premixes market is competitive with increasing regional players and shifting consumer preferences for fortified food and beverages. These players are involved in strategies like mergers and acquisition to maintain their market share. Key players include Koninklijke DSM N.V., Cargill Incorporated, Archer Daniel Midlands Company, BASF SE and Corbion N.V. Companies are emphasizing on new product developments using natural ingredients.
Food Premixes Market Key players company profiles
Food Premixes Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our Global Food Premixes Market analysis, because of the rising expense of healthcare, the steadily rising life expectancy, and the desire of older people for a better quality of life in their later years, the demand for fortified foods is rising significantly among health-conscious consumers. Therefore, as customer demand for goods that are functional and nutrient-rich develops, food and beverage producers are increasingly adding food premixes into their products, which is fueling the expansion of this market. Due to growing consumer awareness of health issues, the premix market also benefits from the sports nutrition industry.
Report Metric | Details |
---|---|
Market size value in 2023 | USD 6.31 billion |
Market size value in 2031 | USD 10.7 billion |
Growth Rate | 6.93% |
Forecast period | 2024-2031 |
Forecast Unit (Value) | USD Billion |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Customization scope | Free report customization with purchase. Customization includes:-
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Historical Year | 2019 |
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Food Premixes Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Food Premixes Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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REQUEST FREE CUSTOMIZATIONFood Premixes Market size was valued at USD 6.31 billion in 2019 and is poised to grow from USD 6.69 billion in 2023 to USD 10.7 billion by 2031, growing at a CAGR of 6.93% in the forecast period (2024-2031).
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Report ID: SQMIG15A2137