Pune, India, Oct. 20, 2022 (GLOBE NEWSWIRE) -- The global food premix market size was USD 6.31 billion in 2021. The market is projected to grow from USD 6.69 billion in 2022 to USD 10.70 billion by 2029, exhibiting a CAGR of 6.93% during the 2022-2029 period.
This information is stated by Fortune Business Insights, in its report titled, “Food Premix Market, 2022-2029.”
COVID-19 Impacts:
Increased Ingestion of Immunity-Boosting Products and Dietary Supplements during Pandemic to Sway Market Growth
The sudden outburst of the COVID-19 pandemic has instigated an adverse influence on the producers as well as the ingestion pattern of individuals. The shutdown of production units and problems in logistics have impacted the food & beverage industry during the preliminary phase of lockdown. But, with the fading influences of COVID-19, ingestion of functional foods, such as immunity-boosting beverages and nutritionally boosted products, has substantially augmented among consumers.
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List of Key Players Mentioned in Food Premix Market the Report:
- SternVitamin GmbH (Germany)
- Koninklijke DSM N.V. (Netherlands)
- Barentz International B.V. (Netherlands)
- Hexagon Nutrition Pvt. Ltd. (India)
- Farbest-Tallman Foods Corporation (U.S.)
- Archer Daniels Midland Company (U.S.)
- Cargill, Incorporated (U.S.)
- BASF SE (Germany)
- Glanbia Plc (Ireland)
- Corbion NV (Netherlands)
Report Scope & Segmentation:
| Report Coverage | Details |
| Forecast Period | 2022-2029 |
| Forecast CAGR | 6.93% |
| 2029 Value Projection | USD 10.70 Billion |
| Base Year | 2021 |
| Food Premix Market Size in 2021 | USD 6.31 Billion |
| Historical Data | 2018-2020 |
| No. of Pages | 206 |
| Segments Covered | By Type, By Application, By Geography |
| Food Premix Market Growth Drivers | Increasing Demand for Tailored Premixes to Help Market Growth Performance |
Segments:
Hydrocolloids Segment to Lead Market Owing to High Ingestion than Other Forms
Based on type, the market is segmented into vitamins, minerals, and hydrocolloids. Out of all, the hydrocolloids segment observed a sharp growth, attributed to the mounting demand for clean-label foods or natural ingredients such as thickeners or stabilizers.
Dietary Supplements to Display Solid Growth Due to Amplified Demand for Natural Food Additives & Nutritious Food Products
On the basis of application, the market is segmented into dietary supplements, beverages, dairy products, bakery products, and others. The others segment comprises fortified cereal & grains, functional RTE, RTC food, meat alternatives/substitutes, and vegan products. The dietary supplements segment held the largest revenue share in 2021 as consumers are more aware of the type of food to be consumed.
Geographically, the market is segregated into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
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Report Coverage:
The report presents a holistic study of the market for food premix along with current trends and future anticipations to establish proximate investment gains. An in-depth analysis of any upcoming opportunities, threats, competitions or driving factors is also mentioned in the report.
Drivers and Restraints:
Increasing Demand for Tailored Premixes to Help Market Growth Performance
In today’s world, where clients and companies have become more conscious of the nutritional data of numerous products, the demand for altered products to address their particular necessities is increasing. Consumer selections and demands are paving a path for producers to develop nutrient-boosted products. Over the past few years, micronutrient premixes have attained extreme popularity owing to the increasing demand for vitamin or mineral-based fortified products and rising requirements for convenience products among individuals.
Regional Insights:
Asia Pacific to Lead Stoked by Augmented Demand for Herbal Supplements
Asia Pacific holds the maximum food premix market share owing to the growing trends of healthy lifestyles among the population. Owing to the history of traditional medicine, an increase has been observed in demand for herbal supplements or nutritionally-rich products in countries such as Japan and China.
In North America, the growth of plant-based products has augmented notably. The hike in the ever-rising health-mindful population as well as the amplified flexible income is predicted to contribute to the sales of the products over the forecast period.
In Europe, the market growth has been attributed to the developing trend for a healthy lifetime and increasing knowledge of micronutrient-based supplements that assist with digestive health and the aging procedure. Therefore, these aspects propel the food premix market growth.
Competitive Landscape:
Innovative Product Launch Announcement by Key Players to Bolster Market Growth
Prominent food premix companies adopt several strategies to bolster their position in the market as leading companies. One such key strategy is acquiring companies to bolster the brand value among users. Another essential strategy is periodically launching innovative products with a detailed study of the market and its target audience.
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Major Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Emerging Trends
- Key Insights
- Overview of the Parent/Related Markets
- Industry SWOT Analysis
- Regulatory Analysis
- Recent Industry Developments - Policies, Partnerships, New Product Launches, and Mergers & Acquisitions
- Qualitative Analysis Related to COVID-19
- Impact of COVID-19 on the Market
- Supply Chain Challenges amidst Pandemic
- Potential Opportunities due to this Global Crisis
- Global Food Premix Market Analysis, Insights and Forecast, 2017-2028
- Key Findings / Summary
- Market Size Estimates and Forecast
- By Type
- Vitamins
- Minerals
- Amino Acids/Proteins
- Others
- By Application
- Dietary Supplements
- Beverages
- Dairy Products
- Bakery Products
- Others
- By Region
- North America
- Europe
- Asia Pacific
- South America
- Middle East & Africa
- By Type
TOC Continued…!
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Key Industry Development:
October 2021: Glanbia Nutritionals unveiled OvenPro, a novel series of ingredient solutions, to improve the sensory attributes of baked products. The product has effortless addition methods and offers extra protein and fiber content to bakery goods.
Read Related Insights:
Food Ingredients Market Size, Share, Industry & Forecast 2029
Customized Premixes Market Size, Share, Industry Forecast 2029
Functional Food Ingredients Market Size, Industry Share | Forecast 2029
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