Food Premix Market Size
|Study Period:||2018 - 2028|
|Fastest Growing Market:||Asia Pacific|
|Largest Market:||North America|
*Disclaimer: Major Players sorted in no particular order
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Food Premix Market Analysis
The global food premix market is projected to grow at a CAGR of 5.6% during the forecast period (2022 - 2027).
During the COVID pandemic, large-scale food fortification was done to ensure people consumed enough nutrients for growth, development, and proper health. It aims to support the availability of premix through hubs to stabilise supply and keep fortification programmes operational, ensure fortified foods reach the most vulnerable through social safety net programs, and adjust advocacy efforts to match the demands of the new COVID-19 context. The premix market also benefits from the sports nutrition sector, thanks to expanding consumer health awareness and a growing number of South Africans suffering from hypertension and type-2 diabetes. Obesity and micronutrient shortages are rising in the country, aiding the food premix business.
Consumer demand for convenience products and a stable composition that tastes good and with health benefits have influenced the growth of fortified/functional products. Customized micronutrients blend provides cost-effective solutions while considering the premium quality raw ingredients are likely to drive the evolution of food premixes in the food and beverage industry
The rising exports of animal-based products from Asia-Pacific markets and the stringent import regulations of the developed markets have led to an increased focus on premixes' high quality, safety, and tractability. Growing awareness among farmers about the advantages of feed ingredients is likely to drive the growth of the feed premixes market. Feed premixes have been gaining popularity over time, owing to the accelerated demand for animal-based products.
Food Premix Industry Segmentation
There are several food premixes available for applications in human and animal nutrition. The global food premix market is segmented into vitamins, minerals, amino acids, antibiotics, and others. The market has been classified into food, feed, and pharmaceutical industries. The food segment has been further sub-segmented into dairy products, baked goods, dietary supplements, beverages, etc. Also, the market is studied for different potential markets in each region across the globe, including North America, Europe, Asia-Pacific, South America, and Middle East& Africa. The report offers market size and forecast value (USD million) for all the above segments.
Food Premix Market Trends
This section covers the major market trends shaping the Food Premix Market according to our research experts:
Growing Demand For Fortified Food Products
Increasing consumer preference for fortified foods is attributed to adding essential ingredients such as amino acids, minerals, vitamins, and nucleotides. Innovative and developed premix products from food manufacturing are used in various applications such as dietary supplements, clinical nutrition, and infant nutrition products. Research conducted by the International Food Information Council Foundation on Food and Health revealed that 47% of consumers prefer food with additional nutrients. Fortified foods are primarily used for balancing nutrient loss and filling nutritional gaps. Moreover, the manufacturers are coming up with their fortified premixes with additional nutrient features. Fortification of dairy and bakery products is likely to be a driving factor for the evolution of the food premixes market globally.
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Asia-Pacific Emerges As Fastest Growing Region
The robust food fortification initiatives, coupled with rising exports of animal-based food products, have led to the demand for various premixes in Asian countries like India, Australia, China, and others. The exponential growth in compound feed production wherein the premixes acts as a key ingredient is also aiding the growth of the Asian premix industry. The large poultry integrators are increasingly seeking high-quality and stable premixes. In line with such market developments, companies like Cargill have expanded their manufacturing and distribution bases in India. The rising middle-class income, an increasing number of double-income families, and growing urbanization have led to increased meat consumption and consequently higher demands for feed premixes since poultry is the most preferred segment for meat consumption in India. The rising cost of essential raw materials for livestock production and competition from the food and biofuel industry is forcing the farmers to use premix in the feed to increase productivity at cheaper costs.
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Food Premix Industry Overview
The global food premix market is competitive, especially with the increase in regional players and the changing consumer preferences for fortified food, beverages, and feed. The prominent players in the global premix market include Cargill Incorporated, Archer Daniel Midlands Company, and DSM. For instance, Cargill Incorporated invested in a new premix facility that offers innovative feed solutions to expand its animal nutrition capabilities in North America. DSM recently acquired a Dutch premix company named Twilmij to strengthen its animal and nutrition business. Some other key players in the global premix market are Associated British Foods, BASF, and Stern Vitamin, among others.
Food Premix Market Leaders
Koninklijke DSM N.V.
Archer Daniel Midlands Company
*Disclaimer: Major Players sorted in no particular order
Food Premix Market News
· In September 2021, CargillAnimal Nutrition announced its strategic partnership with Dutch family-owned animal nutrition group Fuite to build a state-of-the-art premix, concentrate, and young animal nutrition production facility in Hasselt, the Netherlands.
· In January 2021, Cargill opened a new premix animal nutrition facility in Lewisburg. The facility produces non-medicated feed and supports Cargill and Provimi branded animal nutrition premixes and products, along with additives, specialty, and custom blends.
· In December 2020, Prinova announced the launch of its plant-based premixes for alternative dairy products. This factor will allow the organization to fulfill the increasing demand for functional foods for its vegan consumer base.
Food Premix Market Report - Table of Contents
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Ingredeints
5.1.3 Amino Acids
5.2 By Application
5.2.1 Food and Beverage
188.8.131.52 Dairy Products
184.108.40.206 Baked Products
220.127.116.11 Dietary Supplements
5.2.2 Animal Nutrition
5.3.1 North America
18.104.22.168 United States
22.214.171.124 Rest of North America
126.96.36.199 United Kingdom
188.8.131.52 Rest of Europe
184.108.40.206 Rest of Asia-Pacific
5.3.4 South America
220.127.116.11 Rest of South America
5.3.5 Middle-East and Africa
18.104.22.168 South Africa
22.214.171.124 United Arab Emirates
126.96.36.199 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Most Active Companies
6.2 Most Adopted Strategies
6.3 Market Share Analysis
6.4 Company Profiles
6.4.1 Koninklijke DSM N.V.
6.4.2 Cargill Incorporated
6.4.3 Archer Daniel Midlands Company
6.4.4 BASF SE
6.4.5 Corbion N.V
6.4.6 Glanbia PLC
6.4.7 Associated British Foods plc (AB Agri Ltd)
6.4.8 Watson Inc
6.4.9 Jubilant Life Sciences
6.4.10 Sternvitamin GmbH & Co. KG
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. IMPACT OF COVID-19 ON THE MARKET
Food Premix Market Research FAQs
What is the study period of this market?
The Food Premix Market is studied from 2018 - 2028.
What is the growth rate of Food Premix Market?
The Food Premix Market is growing at a CAGR of 5.6% over the next 5 years.
What is Food Premix Market size in 2018?
The Food Premix Market is valued at 2 Billion USD in 2018.
Which region has highest growth rate in Food Premix Market?
Asia Pacific is growing at the highest CAGR over 2018 - 2028.
Which region has largest share in Food Premix Market?
North America holds highest share in 2021.
Who are the key players in Food Premix Market?
Koninklijke DSM N.V., Cargill Incorporated, Archer Daniel Midlands Company, BASF SE, Corbion N.V. are the major companies operating in Food Premix Market.
Food Premix Industry Report
Statistics for the 2023 Food Premix market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Food Premix analysis includes a market forecast outlook to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.