Meticulous Research® – leading market research company published a research report titled “Food Premix Market by Type (Vitamin Premix, Mineral Premix, Amino Acid Premix, Nucleotide Premix, Fiber Premix) and by Application (Health Supplements, Food and Beverage, Pharmaceutical) – Global Opportunity Analysis and Industry Forecast (2018–2023)”.
According to this latest publication from Meticulous Research®, the global food premix market is expected to grow at a CAGR of 6.5% from 2018 to 2023 to reach USD 1,906.5 million by 2023.
The global food premix market is majorly driven by the growing health and wellness trend, changing food landscape, and increasing demand for fortified food products. In addition, convenience in usage as a single ingredient over multiple ingredients increases the demand for food premixes from food, beverage, supplement, and pharmaceutical industries. Moreover, emerging economies, particularly Southeast Asia, Latin America, and Africa are boosting the growth of food premixes market and hold huge potential for future growth. The increasing urbanization and population growth in Asia and Africa regions are primarily responsible for the growing demand of food premix in these markets. However, regulatory structure and intervention and technical problems during storage and handling procedures hinder the growth of global food premix market to some extent.
The food premix market study presents historical market data in terms of value (2016 and 2017), estimated current data (2018), and forecasts for 2023 – by type (vitamin premix, mineral premix, amino acid premix, nucleotide premix, fiber premix, nutraceutical premix, and others), form (powder and liquid), and application (nutrition and health supplements, food and beverages, pharmaceuticals, and others). The study also evaluates industry competitors and analyzes the market at regional and country level.
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On the basis of type, vitamin premixes accounted for the largest share in the global food premixes market in 2017. The large market share of this segment is mainly attributed to increasing consumer preferences for blends of different functional ingredients, growing consumption of vitamin supplements due to rising number of vitamin deficiency cases, and increasing demand for vitamin fortified food products. However, nucleotide premixes are set to be the emerging and rapidly growing type primarily due to the increasing demand from infant products.
On the basis of form, powder food premixes comprised the major market share in 2017. The large share of this segment is mainly attributed to its advantages over liquid form, such as better homogeneity, ease of handling, simple transport economics, and better stability of a premix.
On the basis of application, nutrition and health supplements segment captured a major share of global food premix market in 2017. The growing application of food premixes in nutrition and health supplements is mainly fueled by ageing population, health and wellness trend, increasing birth rates, and increasing prevalence of various diseases. However, food and beverages segment anticipated to grow at a lucrative rate due to large number of functional benefits offered by food premixes to food product and rising demand of fortified food and beverage products.
This research report also analyzes major geographies and provides comprehensive analysis of North America (U.S. and Canada), Europe (Germany, France, U.K., Italy, Spain, and RoE), Asia-Pacific (China, India, Japan, Australia, and RoAPAC), and Rest of World (Latin America and Middle East & Africa). North America captured a significant share in 2017, mainly due to well established food and beverages sector, growing focus on food safety, increasing prevalence of chronic diseases, strong economic growth, rising consumer expectations for innovation and healthy food products, and presence of some leading players.
The key players operating in the global food premix market are Koninklijke DSM N.V. (The Netherlands), Glanbia Plc (Ireland), BASF SE (Germany), Corbion N.V. (The Netherlands), Watson Foods Co., Inc. (U.S.), SternVitamin GmbH & Co. KG (Germany), Vitablend Nederland B.V. (The Netherlands), Hellay Australia Pty. Ltd (Australia), Farbest-Tallman Foods Corporation (U.S.), Jubilant Life Sciences Ltd. (India), and Wright Enrichment Inc. (U.S.) among others.
Key questions answered in the report-
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