Food Premix Market (2023-2030)
The Food Premix Market is expected to reach $2.93 billion by 2030, at a CAGR of 6.9% during the forecast period of 2023 to 2030.
- Published
- Feb 2023
- Pages
- 225
- Format
- PDF + Excel
- Report ID
- MRFB - 10447
- Base year
- 2022
- 2030 · FORECAST
- $2.93B
- 2030
- $2.93B
- CAGR 2023–2030
- 6.9%
2022 baseline · 2023–2030 forecast at 6.9% CAGR · hover a bar for the value
Key highlights
The Food Premix Market is expected to reach $2.93 billion by 2030, at a CAGR of 6.9% during the forecast period of 2023 to 2030.
The nutrition and health supplement segment is expected to account for the largest share of the food premix market.
However, Asia-Pacific is projected to register the highest CAGR during the forecast period. The growth of this regional market is attributed to the growth in the food & beverage industry, rapid economic growth, rising health awareness among consumers, and the increasing demand for fortified food products from emerging and developing countries, such as India, China, Indonesia, and Thailand.
North America’s major market share is attributed to the well-established food & beverage sector, increasing focus on food safety, rising prevalence of chronic diseases, increasing consumer expectations for innovation and healthy food products, strong economic growth, and the presence of major market players in the region.
Report summary
| Particulars | Details |
|---|---|
| Base Year | 2022 |
| Estimated Year | 2023 |
| Forecast Period | 2023–2030 |
| Market Size (2030) | USD 2.93 billion |
| CAGR (2023–2030) | 6.9% |
| Format | PDF, Excel & Cloud Portal · 225 pages |
| Segments Covered | By Type: Multiple Micronutrients Premixes, Vitamin Premixes, Mineral Premixes, Amino Acid Premixes, Nucleotide Premixes, Fiber Premixes, Nutraceutical Premixes, Other Food Premixes · By Form: Powder, Liquid · By Application: Nutrition and Health Supplements Dietary Supplements, Infant Nutrition, Sports Nutrition, Clinical Nutrition, Beverages, Milk and Milk Products, Bakery & Confectionary, Cereals & Snacks, Other Food & Beverages |
| Countries Covered | North America (Canada), Europe (Germany, France, U.K., Italy, Spain, Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Rest of Asia-Pacific), Latin America (Brazil) |
| Key Companies | Koninklijke DSM N.V., BASF SE, Corbion N.V., Watson Foods Co., Inc., SternVitamin GmbH, Hellay Australia Pty. Ltd, Farbest-Tallman Foods Corporation, Jubilant Life Sciences Ltd., Wright Enrichment Inc. |
Report overview
Segments covered: type, form, application. Regions: North America, Europe, Asia-Pacific, Latin America.
The growth of this market is attributed to the rising health & wellness trend, the increasing demand for fortified food products, the convenience in usage offered by food premixes as a single ingredient over multiple ingredients, and the increasing number of individuals with micronutrient deficiencies. Additionally, the growing demand for nutrition from the expanding middle-class population in emerging economies offers significant growth opportunities for food premix manufacturers. However, regulatory structure & intervention and technical problems during storage and handling restrain the market’s growth.
Report infographic
Market dynamics
2 factors across 2 forcesDemand for Nutrition from Expanding Middle-Class Population in Emerging Economies to Drive Market Growth
Over the recent years, many emerging economies in Southeast Asia, the Middle East & Africa, and Latin America have seen fast and significant changes in food consumption levels and patterns. The increasing urbanization and population growth in Asia and Africa contribute significantly to the demand for food premixes in these emerging markets. Due to urbanization, consumers in urban areas are exposed to a much wider choice and better availability of nutritional or functional food products than those living in rural areas. According to the UN DESA’s (United Nations Department of Economic and Social Affairs) population division, India, China, and Nigeria are expected to register the largest urban growth. These three countries are expected to account for 37% of the projected growth of the world’s urban population between 2014 and 2050. By 2050, India is projected to add 404 million urban dwellers, China (292 million), and Nigeria (212 million). In addition, factors such as increasing health & wellness trend, the growing popularity of western culture, rising living standards, demand for functional food, and increased per capita income are expected to drive the demand for food premixes in these countries.
Furthermore, rising industrialization in Asian countries has driven investments from multinational companies. Food premixes manufacturers are interested in expanding their businesses in Asia due to the availability of cheap labor, increasing foreign investments, abundant availability of raw material, and increasing adoption of food premixes for various applications in food, beverages, feed, and health supplement industries. Thus, growing health consciousness, urbanization, population growth, and increasing industrialization in Asia, Africa, and Latin America are expected to offer significant growth opportunities for companies operating in the food premix market.
Table of contents
11 chapters · 243 sections · 225 pages · click to expandSegmental analysis
| Segment | Largest share (2023) | Fastest growth (2023–2030) |
|---|---|---|
| By Type | Multiple micronutrients premixes | Rapid growth of this |
| By Form | Powder | Liquid |
| By Application | Nutrition and health supplement | Food & beverages |
By Type
- The food premix market is segmented into multiple micronutrients premixes, vitamin premixes, mineral premixes, amino acid premixes, nucleotide premixes, fiber premixes, nutraceutical premixes, and other food premixes.
- The multiple micronutrients premixes segment is expected to account for the largest share of the food premix market.
- The large market share of this segment is attributed to factors such as the increasing demand for processed food and health supplements to reduce nutritional deficiencies and the rising number of people with nutritional deficiencies.
- This segment is also slated to register the highest CAGR during the forecast period.
- The rapid growth of this segment is attributed to the increasing demand for multiple micronutrients premixes from the infant food products and dietary supplement industries.
By Form
- The food premix market is segmented into powder and liquid.
- The powder segment is expected to account for the largest share of the food premix market.
- The large market share of this segment is attributed to the benefits offered by powdered premixes over liquid premixes, such as better homogeneity, ease of use & transportation, and better stability.
- However, the liquid segment is expected to register the highest CAGR during the forecast period due to the increasing demand from beverage manufacturers.
- Liquid premix blends help to create new products with greater ease.
- In product manufacturing, liquid food premixes help to improve viscosity, mouthfeel, product stability, texture, shelf life, taste, and visual aspect.
By Application
- The nutrition and health supplement segment is expected to account for the largest share of the food premix market.
- The large market share of this segment is attributed to the increasing demand for food premixes in nutrition and health supplements driven by the aging population, health & wellness trend, and high prevalence of diseases.
- However, the food & beverages segment is projected to register the highest CAGR during the forecast period due to the functional benefits offered by food premixes and the rising demand for fortified food and beverage products.
Geographic analysis
Asia-Pacific
Fastest growthHowever, Asia-Pacific is projected to register the highest CAGR during the forecast period. The growth of this regional market is attributed to the growth in the food & beverage industry, rapid economic growth, rising health awareness among consumers, and the increasing demand for fortified food products from emerging and developing countries, such as India, China, Indonesia, and Thailand. Asia-Pacific: Fastest-growing Regional Market
North America
North America’s major market share is attributed to the well-established food & beverage sector, increasing focus on food safety, rising prevalence of chronic diseases, increasing consumer expectations for innovation and healthy food products, strong economic growth, and the presence of major market players in the region.
Competitive landscape
- Koninklijke DSM N.V.
- BASF SE
- Corbion N.V.
- Watson Foods Co., Inc.
- SternVitamin GmbH
- Hellay Australia Pty. Ltd
- Farbest-Tallman Foods Corporation
- Jubilant Life Sciences Ltd.
- Wright Enrichment Inc.
Frequently asked questions
The food premix market is projected to reach $2.93 billion by 2030, at a CAGR of 6.9% during the forecast period.
Cite this report
Meticulous Research. (2023). Food Premix Market - Global Opportunity Analysis And Industry Forecast (2023-2030) (Report No. MRFB - 10447). Meticulous Market Research Pvt. Ltd. https://www.meticulousresearch.com/product/food-premix-market-4236