Global Food Premix Market to Record an Above-Average 4.8% Volume CAGR Through the Forecast Period, 2017 to 2026
Dublin, Ireland -- (SBWire) -- 07/11/2019 --A new report of Fact.MR has envisaged the food premix market to record an above-average 4.8% volume CAGR through the forecast period, 2017 to 2026. The sales of food premix around the world are foreseen to exceed US$ 2,000 Mn in revenues by 2026-end.
Rising Demand for Food Fortification to Impact Growth of Food Premix Market
Demand for food fortification is on a significant rise, driven high prevalence rate of the micronutrient deficiency diseases among the population worldwide, which in turn has propelled the cases of malnutrition. Food products such as sugar, flour, maize, vegetable oils, and wheat are generally fortified with minerals and vitamins for ensuring better health, which in turn has been driving demand for food premix over the past few years.
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Consumption of nutrient premix, such as amino acid-based infant formula, is also showcasing a surge, driven by growing preference of consumers for nutritional fortification of baby food products and infant formula. In addition, Ingredients such as arachidonic acid (ARA) and docosahexaenoic acid (DHA) are also being added to food premix along with vitamins and iron, which in turn has proliferated adoption of food premixes.
7 Key Takeaways from Fact.MR's Report on Food Premix Market for the Forecast Period 2017-2026
- North America is expected to prevail as the largest market for food premix, trailed by Europe, in terms of both value and volume. Aging population across the Western economies that include the U.S., Germany, Italy, and the U.K., coupled with their focus on leading active & healthy lifestyles, regular exercising, and maintaining a nutrition-rich diet will sustain demand for food premix in these nations.
- Revenues from sales of food premix in North America and Europe will collectively account for over three-fifth market share over the period of forecast. In addition, the market in APEJ is set to register a relatively faster expansion than that in Europe, although accounting for a comparatively lower market revenue share.
- Rapid urbanization, rise in middle-class population with higher GHDI, soaring focus on fitness & health, and western influence on diets of people in APEJ countries, such as India and China, will continue to impact growth of food premix market in the region.
- Powder form of food premix are expected to be sought-after among consumers worldwide in the upcoming years, on account of their ease-of-use and storage convenience. Revenues from sales of powdered food premixes will remain considerably larger than those procured from liquid food premixes.
- Amino acids will endure as preferred ingredient type in food premix, with an envisaged market revenue share of over 33% during 2017 to 2026. Revenue shares of vitamins and minerals in the market will also remain significant. Sales of nucleotides will record the fastest sales expansion in the market, in terms of value, through 2026.
- Food & beverages are likely to remain dominant applications of food premix. Sales of food premix in nutritional improvement programs will record a similar CAGR as that in food & beverage application, although estimated to account for the least market revenue share during the forecast period.
- Weight management and energy will continue to be preferred functions in food premix among consumers, so as to curtail challenges related to obesity and overweight, highly prevalent pandemic ailments.
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Key players profiled by Fact.MR's report on the food premix market are Hexagon Nutrition Pvt. Ltd., SternVitamin GmbH & Co. KG, Lycored Ltd., Barentz International, WATSON-INC, Prinova Group LLC, Fenchem Biotek Ltd., Farbest Brands, BASF SE, Jubilant Life Sciences, Koninklijke DSM N.V., Archer Daniels Midland Company, and Glanbia plc.
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