People are persistently dealing with dissipations that lead to specific health problems such as high blood pressure, high cholesterol, and obesity. This resulted in the demand for products that fulfill the multiple-nutrient requirement. Food premix is an ideal food fortified to address population-level mineral and vitamin deficiency as for given nutritional values profile it provides ingredients in the right form and right combination.
An increase in demand for nutrition-rich food owing to growing focus on healthy lifestyle has led to the need for food premixes which is driving the growth of the global food premix market. Further, micronutrient deficiency is a critical global health issue and as per the estimate by WHO, over 2 billion people suffer from micronutrient deficiency globally. Thus, to prevent micronutrient deficiencies several programs are conducted which include the fortification of foods with micronutrients and iron & folic acid supplementation. This is fostering the growth of the global market. Additionally, expanding application of food premix in dietary supplements, baby food, and food & beverages is equally contributing to the growth of the market. Moreover, growing consumption of food premix for weight management and obtaining energy is driving the growth of the global market. Furthermore, increase in the use of complex blends of pre-scaled ingredients for use in pharma OTC drugs may have several opportunities for the growth of the global market.
The global food premix market is fragmented based on form, product type, application, and region. Based on the form, the global market is classified into liquid and powder. The product type segment is divided into nutraceutical, amino acids, minerals, vitamins, and others. The application segment comprises food & beverages, pharma OTC drugs, dietary supplements, early life nutrition/baby food, and others.
North America is estimated to generate largest revenue among the regions in the global food premix market during the forecast period. Increase in aging population, growing demand for dietary supplements, and nutrition-rich baby food are the factors that are driving the growth of the global market. Asia Pacific is predicted to grow at a rapid rate with the highest CAGR over the forecast period. Growing health concerns and increasing micronutrient deficiency rate in underdeveloped countries has led to the increase in consumption of food premix thereby contributing to the growth of the market in this region. The market in the European region is expected to show a healthy growth rate owing to increase in focus towards self-care and healthy lifestyle.
Farbest Brands, LycoRed Limited, Jubilant Life Sciences, Archer Daniels Midland, Barentz International, BASF, SternVitamin GmbH, Hexagon Nutrition, Prinova Group, and Koninklijke DSM are the predominant players that are operating in the global food premix market.
Key Development: In January 2021, Prinova Group launched a wide range of premixes for replacement of dairy products. The corporation provides premixes optimized for vegan oat-based yogurt and vegan milk alternatives.