"Market Intelligence that Adds Flavour to Your Success"
The global food premix market size was USD 1.32 billion in 2020. The market is projected to grow from USD 1.43 billion in 2021 to USD 2.18 billion by 2028 at a CAGR of 6.21% during the 2021-2028 period. The global impact of COVID-19 has been unprecedented and staggering, with food premix witnessing positive impact on demand across all regions amid the pandemic. Based on our analysis, the global market exhibited a growth of 3.24% in 2020 as compared to the average year-on-year growth during 2017-2019. The sudden fall in CAGR is attributable to this market’s demand and growth, returning to pre-pandemic levels once the pandemic is over.
The micronutrient premix industry is witnessing substantial growth across the world. The demand for functional food & beverages and dietary supplements increases among consumers to maintain their health and wellness. These factors have significantly amplified the demand for premixes across the nutraceutical industry. The emerging trend of preventing lifestyle-related diseases by consuming nutrient-enriched foods or supplements is anticipated to fuel the food premix market growth in the coming years.
Rise in Sales of Premixes to Drive Market Growth during COVID-19 Pandemic
The spread of COVID-19 has positively impacted the premix demand worldwide in various ways. Consumers across the globe are becoming more cautious of their health and wellbeing to reduce the risk of infection. These factors have contributed to the increased demand for immunity-boosting products worldwide in various forms. The augmented demand for nutraceuticals during the pandemic has significantly increased the sales of micronutrient premixes across supplements and the functional food industry. The companies are seeking to increase the number of micronutrients for fortification.
According to the Council for Responsible Nutrition (CRN), the sales of dietary supplements and nutraceuticals increased by 44% in 2020 as compared to only 5% in 2019. The growing concerns related to health and immunity among consumers are expected to drive the growth of the nutraceuticals market, which propels the growth of the market during the forecast period.
Request a Free sample to learn more about this report.
Emerging Trend of Consuming Nutraceuticals to Improve Health Fuels Market Growth
There has been a considerable evolution in purchasing patterns among consumers. Consumers nowadays seek indulgent healthy products to improve health and wellness. The modern-day lifestyle of consumers has increased the prevalence of lifestyle-related health conditions such as obesity, diabetes, and cardiovascular disorders. Buying nutrient-enriched food products and beverages to reduce the risk of these conditions has presented many opportunities for manufacturers to invest in the creation of innovative products. Food premix is becoming widely popular across the nutraceutical industry to manufacture dietary supplements and functional food & beverages.
In recent years, the trend has evolved to increase the demand for plant-based nutrition among consumers. The increasing demand for herbal supplements and plant-derived micronutrients will fuel the utilization of plant-based premixes in the coming years. Government bodies across the globe are taking initiatives to incorporate fortified foods in consumer diets to tackle several health issues. This enables the countries to tackle with micronutrient deficiencies among people. Therefore, government intervention is projected to amplify the growth of the market during the forecast period.
Increasing Utilization of Premixes to Manufacture Nutraceuticals to Drive Market Growth
The global food premix market is primarily propelled by the increasing demand for various functional food & beverages and dietary supplements among consumers worldwide. These nutraceuticals ranging from sports drinks, protein shakes, fortified snacks, beverages, and vitamin supplements are increasingly becoming an essential part of a regular diet of consumers. This evolution in consumption patterns has necessitated various nutritional food manufacturers to develop novel products. In recent years, micronutrient premixes have become popular among manufacturers to develop nutrient-enriched foods and supplements. The utilization of premixes has been increasing due to their easy inclusion technique and efficient mixing in food products, beverages, and supplement forms.
The prevalence of vitamin and mineral deficiencies has increased among people due to the increased consumption of convenience foods. Governments of various countries are focused on spreading the awareness of nutrient-enriched diets and supplying fortified foods to tackle nutrient deficiencies. These factors are expected to increase the demand for micronutrient premixes. The increasing research and development activities to introduce innovative nutraceutical products are also responsible for driving the market growth.
Rising Demand for Customized Premixes to Further Fuel Market Growth
Consumers nowadays seek personalized nutrition to reduce the risk of certain health conditions such as obesity and cardiovascular disorders. Many consumers take extra supplements to improve their bone health, muscle health, and heart health. The nutraceutical manufacturers are developing custom-compounded micronutrient premixes that target different age groups and health conditions. A custom premix is a blend of multiple nutrients that can fortify any food & beverage product to improve a particular health condition.
The utilization of custom premix saves the expense of sourcing and qualifying multiple ingredients for manufacturers. Simplifying operation is also one of the significant benefits of using a custom premix rather than numerous ingredients. Using custom premix minimizes nutrient loss and flavor impact, which retains the quality of that product. The increasing use of such customized micronutrient premixes is expected to drive the market growth in the foreseeable years.
Rigorous Quality and Safety Standards to Act as a Key Restraint for Market Growth
The global food premix industry has witnessed a decisive shift concerning different types of products. As Western markets are inclining heavily in favor of dietary supplements, functional/fortified foods and drinks, the developing markets of Asia Pacific stand an opportunity for export due to the wide availability of raw materials and huge manufacturing base. Regulatory agencies in Europe, the U.S., and Canada are making their quality standards efficient with a higher focus toward label-claims validity, sufficient scientific background, and overall product efficacy.
Micronutrients, such as vitamins, minerals, amino acids, novel ingredients, and active ingredients from botanical extracts, face stringent quality standards that hamper the growth. The complex regulatory scenario of nutraceutical products is expected to act as a restraining factor for market growth.
Vitamin Premix Market Segment Holds Largest Share due to Increasing Demand
By type, the market is divided into vitamins, minerals, amino acids/proteins, and others.
Vitamin deficiencies are becoming a major concern in various regions due to multiple reasons such as lack of food, malnourishment, and increased consumption of convenience products that are nutrient deficient. These factors, in turn, increased the demand for vitamin supplements among consumers. Governments of various countries are making it compulsory to fortify certain foods with vitamins to eradicate these vitamin deficiencies. Vitamin premixes are also widely used in fortified beverages that are sold commercially.
Mineral and amino acid or protein premixes are prevalent among supplements and functional food manufacturers. Furthermore, the emerging trend of plant-based products has increased the demand for herbal supplements and micronutrients sourced from plants, which drives the growth of all types of premixes during the forecast period.
To know how our report can help streamline your business, Speak to Analyst
Dietary Supplements Hold Major Market Share due to their Demand in Western Countries
By application, the market is fragmented into dietary supplements, beverages, dairy products, bakery products, and others.
Dietary supplements are witnessing significant sales amidst the growing popularity of sports-based and athletic performance-enhancement supplements. However, consumers in the developed markets of North America and Western Europe are turning their attention toward holistic health management wherein functional foods are proving more suitable than isolated and purified nutrients in the form of supplements. Moreover, the robust trend of healthy hydration has brought considerable innovations in functional beverages.
Emerging markets of Asia Pacific and South America have long recognized the benefits of functional foods in overall health and wellness. The recent sales traction in this category has encouraged manufacturers and processors to fortify a wide variety of food matrices with many nutrients to create healthy-indulgence products. Concepts such as probiotic drinks, infant nutrition, plant-based fortified beverages, and energy-dense nutrition bars are expected to further the growth of premixes in the foreseeable future.
Asia Pacific Food Premix Market Size, 2020 (USD Billion)
To get more information on the regional analysis of this market, Request a Free sample
Asia Pacific is the Leading Region Attributed to Rising Discretionary Incomes among Consumers
In terms of geography, the market is categorized into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
Asia Pacific dominates the global market due to the growing trend of extending healthy lifespan among the aging population. Consumers seek supplements and nutrient-enriched foods to improve their health. The region poses tremendous opportunities for herbal dietary supplements due to its history of traditional medicine, with Japan and China dominating the market. The market growth in Asia Pacific is driven by the rising middle-class purchasing power, with more educated consumers concerned about maintaining a healthy lifestyle throughout their entire life.
The primary product impacting the growth of the North America market is probiotic supplements. Probiotic supplements are perceived to be beneficial for digestion and immunity, enabling broader prevention. The U.S. is projected to witness high growth in protein supplements and omega fatty acids. The growing demand for probiotics is due to rising consumer awareness of gut health, irritable bowel syndrome (IBS), and food sensitivities. Furthermore, increasing marketing activities by cardiovascular health associations and developing innovative products such as gummies, plant-based, and non-GMO fatty acids have amplified the demand for omega fatty acids.
The market growth in Europe is attributed to increase in aging population, growing knowledge regarding disease prevention, and growing interest in nutraceuticals. The region poses multiple opportunities for micronutrient dietary supplements and probiotic supplements to support healthy aging and digestive health. The emerging trend of veganism and vegetarianism is anticipated to fuel the region's demand for herbal and plant-based premixes.
To know how our report can help streamline your business, Speak to Analyst
Dietary supplements and functional foods are an emerging market in the Middle East and Africa. Increasing health awareness, growing knowledge regarding disease prevention, and expansion of distribution networks fuel the market growth. This region offers extensive opportunities for vitamins and mineral premixes as consumers willingly include such products as part of their daily lives. As the number of nutraceutical manufacturers in the region increases, there is increasing access to vitamins and dietary supplements, thus aiding further market growth.
DSM is Focused on Facility Expansion to Strengthen its Geographical Presence
Major players such as Glanbia plc, BASF SE, Corbion NV, and SternVitamin GmbH and Co. are focusing on new product developments, mergers, and acquisitions to consolidate the market. The arrival of small players in the market significantly contributes to the competition, which positively impacts the market growth.
Koninklijke DSM N.V. is a leading nutrition company focused on expanding its premix business to strengthen its geographical presence. For instance, in June 2021, the company announced the opening of its newly extended premix manufacturing facility in Poland. These factors will enable the company to increase its premix production, which will allow the company to capitalize on the growing demand for micronutrient premixes among manufacturers.
An Infographic Representation of Food Premix Market
To get information on various segments, share your queries with us
The global food premix market research report provides a detailed analysis of the market and focuses on key aspects such as leading companies, types, and leading applications of the product. Besides this, the report offers insights into the market trends and highlights key industry developments. In addition to the aforementioned factors, the report encompasses several factors that have contributed to the market's growth over recent years.
Value (USD Billion)
Fortune Business Insights says that the value of the market was USD 1.32 billion in 2020 and is projected to reach USD 2.18 billion by 2028.
In 2020, the Asia Pacific market value stood at USD 0.50 billion.
The market will exhibit a steady growth of 6.21% CAGR during the forecast period (2021-2028).
The vitamin premix segment is expected to be the leading segment based on type in the global market during the forecast period.
Rising demand for functional foods and dietary supplements among consumers is the key factor driving the growth of the market
DSM, Glanbia plc, and SternVitamin Co. are the top players in the global market
Asia Pacific is expected to hold the highest market share in 2020.
The major factor driving food premix adoption is the emerging trend of improving health and wellness by consuming nutrient-enriched foods or supplements.
“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