Global Food Premix Market - 2022-2029

Global Food Premix Market - 2022-2029

Market Overview

The global food premixes market was valued at USD XX million in 2021. It is forecasted to reach USD XX million by 2029, growing at a CAGR of XX% during the forecast period (2022-2029).

A premix is a customized mixture that has been commercially made with each nutrition component rescaled and precisely blended. Food premixes are a complex blend of vitamins, minerals, and other vital nutrients that are custom designed for use in food fortification and supplement products. It's utilized in food fortification and as a supplement. The lack of micronutrients in the diet leads to malnutrition and serious health problems. It improves the nutritional content of food and beverages while also providing the body with critical nutrients. It also aids with weight loss. Vitamin D, which is present in the food premix, improves metabolism and calcium absorption in the body. The primary drivers driving the market's growth are rising demand for convenient food products and rising demand for food premix in medical nutrition.

Market Dynamics:

Increasing demand for fortified food products drive the food premix market growth

According to the World Health Organization, globally, over 2 billion people lack the essential vitamins and nutrients needed to grow and live healthy lives. Simultaneously, nearly 1.4 billion people worldwide are overweight or obese, owing to diets based on starchy staples that offer calories but not nutrition. Fortified and functional foods are particularly important in this regard. The demand for fortified foods is skyrocketing among health-conscious consumers, fueled by rising healthcare costs, rising life expectancy, and older people's desire for a better quality of life in their later years. As customer demand for functional and nutrient-dense products rises, food and beverage producers are increasingly adding food premixes into their products, fueling market expansion.

According to a study done by the International Food Information Council Foundation on Food and Health, 47 percent of customers choose foods that have additional nutrients. Fortified foods are largely used to compensate for nutrient deficiency and to bridge nutritional gaps. Furthermore, businesses are developing their own fortified premixes with added nutritional benefits. Fortification of dairy and pastry goods is projected to be one of the major driving forces behind the global growth of the food premixes industry.

Market Segmentation:

Vitamin premixes segment accounted for the highest share in global food premix market

The rising consumption of processed foods, combined with the loss of naturally occurring vitamins in these foods during processing and storage, has led to adding vitamin premixes to processed foods to combat nutritional deficiencies among the population. In 2021, vitamin premixes held the highest percentage of the food premix industry. Increased consumer preferences for blends of different functional ingredients, multiple nutritional benefits to humans, rising consumption of vitamin supplements due to an increase in vitamin deficiency cases, and rising demand for vitamin-fortified food products contribute to this segment's growth. Increased consumer preferences for blends of different functional ingredients, multiple nutritional benefits to humans, rising consumption of vitamin supplements due to an increase in vitamin deficiency cases, and rising demand for vitamin-fortified food products contribute to this segment's growth. However, because of the growing demand to fortify infant food products, nucleotide food premixes are expected to increase faster than vitamin premixes over the projection period.

Due to easy handling and storability, use in a wide range of livestock applications, and cheaper manufacturing costs, the dry segment accounted for the greatest market share and growth rate in the global market by form. Feed premixes in the dry form are easier to mix with feed and have a longer shelf life than those in the liquid form, so feed makers prefer them.

Geographical Penetration:

Asia-Pacific is the dominating region during the forecast period

Due to the growing tendency of extending healthy lifespan among the older population, Asia Pacific now dominates the global food premixes market. Supplements and nutrient-rich meals are popular among consumers who want to improve their health. Due to its heritage of traditional medicine, the region presents significant prospects for herbal dietary supplements, with Japan and China dominating the market. The expanding middle-class purchasing power in Asia Pacific is driving market expansion, with more educated customers concerned about maintaining a healthy lifestyle throughout their lives.

In 2021, North America dominated the food premix market. The well-established food and beverage sector, increased focus on food safety, rising prevalence of chronic diseases, growing consumer expectations for innovation and healthy food products, strong economic growth, and the presence of some leading players are all factors that contribute to this region's large share.

Competitive Landscape:

The global food premix industry is competitive, particularly with the rise of regional companies and shifting customer preferences for fortified foods, beverages, and feed. Cargill Incorporated, Archer Daniel Midlands Company, and DSM are the leading participants in the global food premix market. Cargill Incorporated, for example, has invested in a new premix facility that will enhance its animal nutrition capabilities in North America by providing novel feed solutions. DSM recently bought Twilmij, a Dutch premix manufacturer, to bolster its livestock and nutrition division. Cargill Animal Nutrition and Fuite, a Dutch family-owned animal nutrition company, established a strategic alliance in September 2021 to build a state-of-the-art premix, concentrate, and young animal nutrition production facility in Hasselt, the Netherlands.

COVID-19 Impact: Positive impact on the global food premix market

Large-scale food fortification was carried out during the COVID pandemic to guarantee that individuals got enough nutrients for growth, development, and good health. Its objective is to help the availability of premix through hubs to stabilize supply and keep fortification programs operational and ensure that fortified foods reach the most vulnerable through social safety net programs, all while adjusting advocacy efforts to meet the demands of the new COVID-19 context. The premix industry also benefits from the sports nutrition sector because of rising consumer health awareness and an increasing number of South Africans suffering from hypertension and type-2 diabetes. Obesity and micronutrient deficiencies are on the rise, which is good news for the food premix industry. There have been many market shifts resulting from the pandemic's market disruption, which a shift in consumer purchase patterns has triggered. Food premix use has expanded dramatically among these customers, owing to the health benefits provided by food premixes. Customers are focused on keeping their health in the face of the COVID-19 epidemic, likely to boost sales of healthy products globally. In addition, the market shift toward immunity-boosting nutrition and supplements is impacting the creation of food premixes.