Food Premix Market to Reach USD 10.70 Billion by 2029; ProTab Laboratories Announces Expansion of Multimillion Dollar Plant to Gain Lucrative Edge

The global food premix market size was USD 6.31 billion in 2021. The market 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 2022-2029 period.

This information is stated by Fortune Business Insights, in their report titled, “Food Premix Market Size, Share & COVID-19 Impact Analysis, By Type (Vitamins, Minerals, and Hydrocolloids), By Application (Dietary Supplements, Beverages, Dairy Products, Bakery Products, and Others), and Regional Forecast, 2022-2029.”

The demand for micronutrient premixes is rising chiefly owing to the increasing demand for functional food and supplements, growing parental apprehension for nutritional supplementation of infant foods, as well as the mounting customer demand for easy to cook foods. The producers of modified blends are progressively directing toward developing inventive products to satisfy the dietary needs of any individual.

Boosted Intake of Fortified Products and Dietary Supplements Amid COVID-19 to Sway Food Premix Market Growth

The abrupt outbreak of the COVID-19 pandemic has triggered an obstructed effect on the players as well as the intake pattern of individuals. Shutdown of production divisions and complications in logistics have impacted the food & beverage industries during the primary stage of lockdown. Nonetheless, with the declining impacts of COVID-19, ingestion of functional foods, such as immunity-encouraging beverages and nutritionally loaded products, has remarkably increased among the consumers.

SternVitamin Unveils Individual Micronutrient Premixes

SternVitamin, a corporation that provides complete service in micronutrient premixes, is offering individual micronutrient premixes for several consumer usages in the Vitafoods Event at Europe.

These products empower food and beverage producers to sustain the mental performance and well-being of their consumers and to participate in the serviceable food market.

In order to evade nutritional deficits for customers on a plant-based or vegan diets, numerous plant-based goods are loaded with micronutrients. SternVitamin is making an effort to climb a higher step with food premixes, which not only avoid shortages of nutrients but also satisfy target-group-particular requirements such as gut health, heart health, mental power, bone or immune health.

Surging Amalgamation of Premixes in Nutraceuticals to Foster Growth

The market for functional foods ingredient is expansively thriving, owing to the surging demand for numerous functional foods and beverages among consumers. Functional beverages in the past years have become more pleasing to the users to address their precise needs and cravings. As the amount of individuals rooting for food and beverage products in context with building and sustaining a healthy lifestyle augments, they pursue products and brands that improve their lives. Various beverages that provide multiple additional nutrient advantages to individuals, such as fortified tea, energy drinks, and coffee, are expansively being measured as favorable for bolstering human performance.

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/food-premix-market-102456

Competitive Landscape:

Important Business-related Announcements by Key Players to Influence Market Dynamics

Fundamental companies of food premix often make crucial announcements regarding some business moves, which, in turn, affect the market either positively or negatively. Players acquire companies, launch new products, engage in partnership deals, sign contracts with government organizations, and so on.

Key Industry Development:

• October 2021: ProTab Laboratories, a dominating South California contract producer, declared the achievement of a multimillion-dollar plant extension, which will further rise the production competency of premixes in the West Coast.

List of Key Players Mentioned in the Report:

• SternVitamin GmbH (Germany)
• Koninklijke DSM N.V. (Netherlands)
• Barentz International B.V. (Netherlands)
• Hexagon Nutrition Pvt. Ltd. (India)
• Farbest-Tallman Foods Corporation (U.S.)
• Archer Daniels Midland Company (U.S.)
• Cargill, Incorporated (U.S.)
• BASF SE (Germany)
• Glanbia Plc (Ireland)
• Corbion NV (Netherlands)

Further Report Findings

Asia Pacific holds the maximum food premix market share 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.

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.

Table of Segmentation