Food Premix Market expected to grow at a CAGR of 5.3% during 2016 to 2026
Rising demand for fortified food and increasing adoption of food fortification processes by food manufacturers is expected to continue to drive production of customised premixes. As a result, the global food premix market is estimated to reach market value of US$ 1,213 Mn in 2016 end, registering a Y-o-Y growth rate of 4.7% over 2015. Growing demand for customized food premixes is prompting manufacturers to further develop enhanced premixes to target the premium customer segment in the global food premix market. In a new report titled, “Food Premix Market: Global Industry Analysis and Opportunity Assessment, 2016-2026”, Future Market Insights offers in-depth analysis on the forces that will shape up the global market in the next decade.
Rising awareness regarding the various health benefits offered by fortified food products with nutritional premixes is expected to continue to fuel global demand for food premixes over the forecast period. Reducing conditions related to micronutrient deficiencies is also another key factor influencing higher consumption of food premixes globally. Moreover, increasing preference for consuming staple foods with amino acids, minerals, nucleotides and other essential ingredients is expected to bolster demand for multi-nutrient premixes globally. However, adopting conventional nutrient systems by global food manufacturers is expected to hamper growth of the global food premix market to some extent over the forecast period.
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- Based on the various type of nutritional functions, consumption of food premixes that offer weight management benefits is predicted to be comparatively higher, and is estimated to account for 21.0% share of the overall global market revenue by the end of 2016. Function-based segments such as brain memory, vision improvement and digestion are expected to witness moderate growth. However, demand for food premixes that enhance immunity functions and offer benefits for cardiac health will continue to escalate over the forecast period.
- Vitamin-mineral ingredients are expected to witness higher adoption in sports foods and infant nutrition products. In 2016 end, the vitamins segment is expected to be valued at US$ 402 Mn, and continue to register a significantly high CAGR over the forecast period.
- By the end of 2016, the dietary supplements segment is estimated to account for over 18.4% revenue share in the global food premix market. While food & beverages segment is expected to continue to dominate the global market in terms of end use application, early life nutrition sub-segment in the food and beverage segment is expected to register significant growth over the forecast period, owing to projected extensive use of nutrient premixes in various food products.
Regional segmentation of the global food premix market indicates higher contribution by North America, Western Europe and Asia Pacific. Collectively, the markets in these three regions are estimated to account for approximately three-fourths of the overall global revenue in 2016 end. Increasing consumption of vitamins and fortified food products will significantly influence the food premix market in North America, and the market in the region is estimated to account for over 35% share of the global market revenue by 2016 end.
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Archer Daniels Midland Company, Farbest Brands, SternVitamin GmbH & Co. KG, Hexagon Nutrition Pvt. Ltd., Jubilant Life Sciences, Glanbia plc., Koninklijke DSM N.V., B&H Biotechnology Co. Ltd., Prinova Group LLC., Barentz, Fenchem, Lycored and WATSON-INC among others, are some of the key players in the global market for food premixes.
Long-term Outlook: In terms of value, the global food premix market is projected to register a CAGR of 5.3% and reach US$ 2,033 Mn during forecast period 2016–2026. In terms of revenue share, North America is expected to be a leading region, expected to reach value of US$ 732 Mn by the end of forecast period.