"Market Intelligence that Adds Flavour to Your Success"
The food premix market size was valued at USD 6.31 billion in 2021 and is projected to grow from USD 6.69 billion in 2022 to USD 10.70 billion by 2029, exhibiting a CAGR of 6.93% during the forecast period. The global COVID-19 pandemic has been unprecedented and staggering, with food premix experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. Based on our analysis, the global market exhibited a growth of 8.45% in 2020 as compared to 2019.
The growth of micronutrient premixes is increasing primarily due to the surging demand for functional food and supplements, rising parental concern for nutritional supplementation of infant foods, as well as the growing customer demand for convenience products. The manufacturers of customized blends are steadily aiming to develop innovative products to fulfill individuals' dietary requirements. Moreover, since the pandemic, consumers have been strongly dedicated to maintaining a healthy diet, which drives global market growth.
Elevated Consumption of Fortified Products or Dietary Supplements to Influence the Food Premix Market Growth Potential
The sudden outburst of the COVID-19 pandemic caused a severe impact on the producers as well as the consumption pattern of individuals. The shutdown of manufacturing facilities and difficulties in logistics have affected the essential commodities industries during the initial phase of the lockdown. But, with the fainting effects of COVID-19, consumption of functional supplements, such as immunity-boosting beverages and nutritionally rich products, has significantly increased among consumers. The fear of the unavailability of products has necessitated the population to panic about buying products, which, in turn, boosted the sales of healthy supplements. Also, the additional health benefits from immunity boosting products further increased the consumption rate along with accelerated food premix sales.
Request a Free sample to learn more about this report.
Increased Consumption of Nutraceuticals to Support Health Mechanism
With evolution, the robust demand for clean-label foods or healthy products has been increasing day by day among consumers. The growing awareness about the importance of health and the rising prevalence of micronutrient deficiencies, especially amongst infants, are some of the crucial factors responsible for surging the demand for customized blends in the market. For instance, according to the World Health Organization (WHO), 2021, approximately 89% of the world's population is consuming iodized salt to combat the occurrence of micronutrient deficiencies. In recent years, individuals have become more health-conscious and are continuously seeking healthy indulgent products that holistically improve their health and wellness. Functional sports drinks, energy drinks, pasta, biscuits, and others fortified with vitamins and minerals are widely popular and thus are consumed on a larger basis. Furthermore, as the modern-day lifestyle of consumers gives rise to the prevalence of numerous lifestyle disorders, such as obesity, cardiovascular ailments, and diabetes, consumption of nutraceuticals has been increasing exponentially.
Surging Demand for Customized Food Premix to Aid Market Growth Performance
In this modern era, where the customers and businesses have become more aware of the nutritional information of various products, the demand for customized food premix to address specific requirements is rising. Consumer choices and demands are paving the way for manufacturers to develop nutrient-enriched products. Over the years, fortified micronutrient ready mixes have gained tremendous popularity due to the mounting demand for vitamin or mineral-based fortified products and soaring need for convenience products amongst individuals. For instance, in November 2021, Minafin Sprl, under its health chemistry division, launched Blendamix, a custom premix for both food and pharma products. These products can help the manufacturers to increase their production capacities to meet the growing demand. Thus, all these factors are contributing to strengthening the market revenue of functional products across the globe.
Growing Incorporation of Food Premix in Nutraceuticals to Favor Growth
The market for functional food ingredients has flourished due to the rising demand for multiple functional supplementation from customers. Functional beverages in recent years have become more appealing to consumers to address their specific wants and desires. As the number of individuals opting for food and beverage products in context with building and supporting a healthy lifestyle increases, they seek nutraceuticals products and brands that enhance their lives. Numerous beverages, which offer several additional nutrient benefits to individuals, such as energy drinks, fortified tea, and coffee, are widely considered beneficial for boosting human performance. Moreover, the prominent players are also investing in fortifying the existing products as well as innovating novel products that are enriched with custom-compounded nutritional ingredients. The usage of food premix is one of the cost-effective strategies that also saves the time and efforts of consumers. Factors, such as rising demand for medical nutrition and a spike in incidences of malnutrition or other health-related disorders, can significantly augment the market growth.
Regulatory Stringency on Quality and Safety Standards with Premixes to Hinder Growth
The global premixes market is undergoing a gradual shift in regard to different types of products. As the emerging economies in Asia Pacific significantly turn toward functional/fortified eatables and drinks, it poses a significant opportunity for exports due to the wide availability of raw materials and a large manufacturing base. Regulatory agencies across developed regions, such as Europe and the U.S., have strict regulatory guidelines focusing on label-claims validity and overall product efficacy. Also, high investment in the fortification process is also expected to obstruct market growth. Raw materials used in the production of large-scale fortified products are also responsible for hampering the overall market growth. For instance, dietary supplement brands have to undergo rigorous tests for identifying, purifying, and strengthening the composition of the product with the help of advanced technologies. Thus, these factors significantly restrain the market's growth potential.
Hydrocolloids Segment to Dominate the Premix Market Owing to their High Consumption Compared to Other Forms
Based on type, the market is segmented into vitamins, minerals, and hydrocolloids. Out of all, the hydrocolloids segment witnessed a sharp growth, attributed to the mounting demand for clean-label foods or natural ingredients such as thickeners or stabilizers. The growing demand for the products is significantly increasing due to the losses of amino acids, proteins, vitamins, or minerals while processing, escalating numbers of the health-conscious population, as well as its health-promoting properties such as energy dense and weight management attributes. In order to overcome micronutrient deficiencies, custom-based products are formulated in such a way that fulfills the daily requirements of individuals.
Vitamin premixes include two major types of vitamins such as water-soluble vitamins (B1, B2, B3, B6, B12, and C) and fat-soluble vitamins (A, D, E, and K). For instance, dairy products are fortified with Vitamin D to enhance calcium absorption and metabolism. In addition, mineral ready-mixes are also available in the market, consisting of iron, phosphorus, magnesium, and others in dry blended form. For instance, infant milk formulas are fortified with iron as it results in the augmentation of iron stores, which further helps to prevent iron deficiency. The products to be used should be incorporated in the right quantity, further achieving the desired quality of the final product. The ready-mix market has attained large popularity due to its proven health benefits across the globe.
To know how our report can help streamline your business, Speak to Analyst
Dietary Supplements to Exhibit Solid Growth Due to Augmented Demand for Natural Additives & Nutritious Products
On the basis of application, the market is segmented into dietary supplements, beverages, dairy products, bakery products, and others. The others segment comprises fortified cereal & grains, functional RTE, RTC food, meat alternatives/substitutes, and vegan products. The dietary supplements segment held the largest revenue share in 2021 as consumers are more aware of the type of food to be consumed, possibly more than ever. The growth of the dietary supplements segment is supported by the rise in demand for immunity-boosting beverages, which drives the market growth. Also, stevia, coconut sugar, and agar-agar are the most prominent natural nutritional additives in the processing industries.
Asia Pacific Food Premix Market Size, 2021 (USD Billion)
To get more information on the regional analysis of this market, Request a Free sample
Asia Pacific holds the maximum food premix market share of food premix owing to the rising trends of healthy lifestyle among the population. Due to the history of traditional medicine, a surge has been witnessed in demand for herbal supplements or nutritionally-rich products in Japan and China. Factors, such as increased purchasing power of the middle-class population and growing adoption of nutraceuticals in diet, can also boost the market growth momentum.
In North America, the growth of plant-based products has increased significantly. The hike in the ever-growing health-conscious population, as well as increased indispensable income, is expected to contribute to the sales of food premix over the forecast period.
In Europe, the market growth has been attributed to the emerging trend for a healthy lifespan and the rising knowledge of micronutrient-based supplements that aid in digestive health and the aging process. Thus, these factors support the market growth.
To know how our report can help streamline your business, Speak to Analyst
In the Middle East & Africa, the demand for functional ingredients rich-products is propelled by the rising distribution network across the region. Also, due to the increasing number of nutraceuticals manufacturers, the production and the distribution rate have also increased. Such factors, in turn, fuel the availability of vitamins & minerals in the Middle East market.
Key Players are Launching Innovative Products to Attract High Consumer Base
Some of the prominent players operating in the market include Glanbia Plc, Cargill, Incorporated, and Koninklijke DSM N.V., among others. These companies are widely focusing on expanding their business capacity by introducing products or strengthening their production facilities via mergers or acquisitions. Also, by collaborating with other small market players, the market can enhance its business revenue globally. New strategies, such as promotional activities or other schemes, can also help in gaining consumer attention, which aids in improving the growth potential of the global market.
An Infographic Representation of Food Premix Market
To get information on various segments, share your queries with us
The global food premix industry report includes quantitative and qualitative insights into the market. It also offers a detailed analysis of the market size and growth rate for all possible market segments. Various key insights presented in the report are an overview of related markets, competitive landscape, recent industry developments such as mergers & acquisitions, regulatory scenario in critical countries, and key industry trends.
Value (USD Billion)
Fortune Business Insights says that the global market size was valued at USD 6.31 billion in 2021 and is projected to reach USD 10.70 billion by 2029.
The market is projected to grow at a CAGR of 6.93% during the forecast period (2022-2029).
The dietary supplements segment is expected to be the leading application segment in the global market.
Rise in health-conscious population causing a surge in demand for functional dietary supplements is driving the market growth.
Cargill Incorporated, Glanbia Plc., and Koninklijke DSM N.V. are a few of the top players in the global market.
Asia Pacific is expected to hold the highest market share over the forecast period.
Strict government regulations act as one of the major market restraint.
“This report is really well done and we really appreciate it! Again, I may have questions as we dig in deeper. Thanks again for some really good work.”- U.S.-based biotechnology company focussing on treatment of chronic pain.
“Kudos to your team. Thank you very much for your support and agility to answer our questions.”- Europe-based provider of solutions to automate data centre operations.
“We appreciate you and your team taking out time to share the report and data file with us, and we are grateful for the flexibility provided to modify the document as per request. This does help us in our business decision making. We would be pleased to work with you again, and hope to continue our business relationship long into the future.”- India-based manufacturer of industrial and specialty intermediates with a strong global presence.
“I want to first congratulate you on the great work done on the Medical Platforms project. Thank you so much for all your efforts.”- One of the largest cosmetics company in the world.
“Thank you very much. I really appreciate the work your team has done. I feel very comfortable recommending your services to some of the other startups that I’m working with, and will likely establish a good long partnership with you.”- U.S. based startup operating in the cultivated meat market.
“We received the below report on the U.S. market from you. We were very satisfied with the report.”- UGlobal hearing aids manufacturer.
“I just finished my first pass-through of the report. Great work! Thank you!”- U.S. based solar racking solutions provider.
“Thanks again for the great work on our last partnership. We are ramping up a new project to understand the imaging and imaging service and distribution market in the U.S.”- World’s leading advisory firm.
“We feel positive about the results. Based on the presented results, we will do strategic review of this new information and might commission a detailed study on some of the modules included in the report after end of the year. Overall we are very satisfied and please pass on the praise to the team. Thank you for the co-operation!”- Germany based machine construction company.
“Thank you very much for the very good report. I have another requirement on cutting tools, paper crafts and decorative items.”- Japanese manufacturing company of stationery products.
“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”- One of the Leading Food Companies in Germany
“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”- Intuitive Surgical
“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”- Major Food Company in Japan
“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”- Ziering Medical
“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”- Major Manufacturer of Precision Machine Parts in India
“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”- Hewlett-Packard
“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”- Global Management Consulting Firm
“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”- UK-based Start-up in the Medical Devices Sector
“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”- One of the Largest Companies in the Defence Industry