Food Premix Market by Type and Application – Global Opportunity Analysis and Industry Forecast 2018–2023
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| Food Premix Market |
According to this latest publication from Meticulous Research®, the global food premix market size is expected to grow at a CAGR of 6.5% from 2018 to 2023 to reach USD 1,906.5 million by 2023.
The 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 Industry to some extent.
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Key Findings in the Food Premix Market Study:
• Vitamin Premixes Dominate the Global Food Premix Market
The increasing intake of processed foods along with losses of naturally occurring vitamins in these foods during their processing and storage have led to the practice of adding vitamin premixes to processed foods so as to reduce nutritional deficiencies in the population. Vitamin premixes accounted for the largest share of the global food premix market in 2017. The growth of this segment is mainly attributed to increasing consumer preferences for blends of different functional ingredients, multiple nutritional benefits to humans, growing consumption of vitamin supplements due to rising number of vitamin deficiency cases, and increasing demand for vitamin fortified food products. However, the nucleotide food premixes projected to grow at a comparatively higher CAGR than the vitamin premixes during the forecast period owing to its increasing demand to fortify infant food products.
• Liquid Food Premixes to Witness Highest Growth during the Forecast Period
Food premixes are available in solid and liquid form. Liquid form premixes are witnessing a huge demand from beverage manufacturers as they help to improve viscosity, mouthfeel, product stability, texture, shelf life, taste, and visual aspect of the product.
• Food and Beverages Industry Provides Many Opportunities Through 2023
Food premixes are one of the important functional ingredients for several food products. They are increasingly gaining an attention from food manufacturers owing to their contribution to palatability, satisfaction, and nutrition. Food premixes offer tremendous number of functional benefits for food; it is mainly used to enhance flavour & texture, boost nutrient content, improve appearance, and add nutritional stability to finished products.
• North America Led the Global Food Premix Market
North America dominated the market in 2017. The major share of this region is mainly attributed to well established food and beverages sector, increasing focus on food safety, increasing prevalence of chronic diseases, growing consumer expectations for innovation and healthy food products, strong economic growth, and presence of some leading players. However, Asia-Pacific (APAC) is estimated to be the fastest growing region due to growing food and beverages industry, growing economy, improving healthy lifestyle, and increasing demand for fortified food products in developing Asian countries.
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Food Premix Market Key Players
The key players 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.).
Key questions answered in the report:
• Which are the high growth market segments in terms of type, form, application, and region/countries?
• What was the historical market for food premix across the globe?
• What are the market forecasts and estimates for the period 2018-2023?
• What are the major drivers, restraints, opportunities, and challenges in the global food premix market?
• Who are the major players in the global food premix market?
• How is the competitive landscape and who are the market leaders in the global food premix market?
• What are the recent developments in the global food premix market?
• What are the different strategies adopted by the major players in the global food premix market?
• What are the geographical trends and high growth regions/ countries?
• Who are the local emerging players in the global food premix market and how do they compete with the global players?
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