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The unprecedented COVID-19 pandemic has affected the global economy to a great extent. Considering the food industry, one of the most important sectors of the economy, a tremendous impact has been witnessed on the entire process from the field to the consumer. The restrictions in the movement of workers, closure of food production facilities, and changes in consumer demand have put excessive pressure on the food industry. The report offers actionable and valuable market insights of Food Premix. The latest report by Fact.MR provides details on the present scenario of the market across various regions along with the historic data and forecast of the market. The report also includes information on the sales and demand of Food Premix Market across various industries and regions.
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The market study done by Fact.MR gives exclusive information about how the market will grow. The study identifies crucial trends that are determining the growth of Food Premix market. This newly published report sheds light on vital dynamics, such as the drivers, restraints, and opportunities for key market players as well as emerging players associated with the production and supply. The latest report by Fact.MR provides detailed Market Analysis of Food Premix
|Market Size (2022)||US$ 1.58 Bn|
|Projected Market Forecast Value by 2032||US$ 2.73 Bn|
|Value CAGR (2022-2032)||5.6%|
This newly published and insightful report sheds light on Market Insights of Food Premix, key dynamics, their impact on the overall value chain from suppliers to end-users and Growth of Food Premix Market.
Key Segments Covered in Food Premix Market Study
- Powdered Food Premix
- Liquid Food Premix
- Vitamin Food Premix
- Mineral Food Premix
- Nucleotides Food Premix
- Amino Acids Food Premix
- Botanical Food Premix
- Food Premix for Bone Health
- Food Premix for Immunity
- Food Premix for Digestion
- Food Premix for Energy
- Food Premix for Heart Health
- Food Premix for Weight Management
- Food Premix for Vision Health
- Food Premix for Brain Health & Memory
- Food Premix for Other Function Types
- Food Premix for Early Life Nutrition/Baby Food
- Food Premix for Food & Beverages
- Food Premix for Dietary Supplements
- Food Premix for Pharma OTC
- Food Premix for Nutritional Improvement Program
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The competitive landscape of the food premix market is shaped by product innovation and strategic mergers & acquisitions. Front Runners are emphasizing capacity enhancements and global footprint expansion to leverage lucrative prospects in developing economies. Some notable developments are as follows:
- In July 2021, Corbion closed an agreement to acquire full ownership of Granolife. With the addition of the footprint, expertise, blending capabilities, and application labs of Granolife, the company expects the capability to make a step-change in the Mexican market.
- In December 2020, Prinova launched a range of premixes for dairy replacement products to help manufacturers respond to the plant-based revolution. In a new white paper, the company highlights the growing prevalence of vegan and other non-dairy diets and their impact on plant-based markets. In line with Innova Market Insights’ “Plant-Forward” trend, the ever-evolving plant-based definition expands vegetarian and vegan NPD into the mainstream.
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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.
Key players profiled by Fact.MR’s report on the global 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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