Overview of Food Premix Market: Size, Trends, Share and Growth Forecast till 2026
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Mounting instances of appetite loss among the aging population has led them to spend more on fortified and functional food. Growing requirement for nutrition-rich food among health conscious consumers have led manufacturers to incorporate health benefiting ingredients such as vitamin premixes. Food manufacturers are utilizing various ingredients to enhance the appeal, flavor, and functionality of food products.
In 2017 Food Ingredients Europe, SternVitamin illustrated the opportunity for food, beverage, and food supplement manufacturers in generating new value-adding potential through special product concepts. An example of SternVitamin’s wide array of products is new premix dedicated to “healthy bones & a healthy heart”. This micronutrient mix complies with one of the major current beverage trends, i.e. water-based fortified products, as growth potential in drinks segment is highest across the globe. SternVitamin has proved how EU-authorized health claims can be effectively leveraged for marketing of finished drinks’ retail packs.
Food premixes are witnessing a gradual surge in popularity worldwide, and according to a recent Fact.MR report, the global market for food premix will register a steady 5.6% value CAGR during the period of forecast 2017 to 2026. Nearly 735,000 tons of food premix is estimated to sold globally by 2026-end.
Food added with Powdered Vitamins & Minerals to Reduce Anemia & Iron Deficiency in Children
A large number of pre-school and school-going children between the age group 2 and 12 years old are affected with anemia, with a majority among them suffering from iron deficiency. Point-of-use food fortification with micronutrient powders has been recommended for trimming the prevalence of pediatric anemia. In order to assess its effectiveness, researchers as Micronutrient initiative in Canada, WHO, and Centers for Disease Control and Prevention (CDC) in the U.S., have conducted a review of quasi-RCT and RCT trials.
According to the research, point-of-use food fortification with micronutrient powders that comprise iron has the potential to alleviate iron deficiency and anemia in children. Focus of future research regarding the same is being directed toward increasing the evidence on adverse effects, developmental outcomes, morbidity, and mortality. Developments such as this are likely to significantly influence growth of the global food premix market in the upcoming years.
Rising Demand for Food Fortification to Impact Growth of Food Premix Market
Demand for food fortification is on a significant rise, driven high prevalence rate of the micronutrient deficiency diseases among the population worldwide, which in turn has propelled the cases of malnutrition. Food products such as sugar, flour, maize, vegetable oils, and wheat are generally fortified with minerals and vitamins for ensuring better health, which in turn has been driving demand for food premix over the past few years.
Consumption of nutrient premix, such as amino acid-based infant formula, is also showcasing a surge, driven by growing preference of consumers for nutritional fortification of baby food products and infant formula. In addition, Ingredients such as arachidonic acid (ARA) and docosahexaenoic acid (DHA) are also being added to food premix along with vitamins and iron, which in turn has proliferated adoption of food premixes.
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Market Players adopting Expansion Strategies to Increase their Market Footprint
Leading players in the market are adopting key strategies such as acquisitions, mergers and new product launches, in a bid to boost their sales and increase their market footprint. In mid-2017, Prinova, a U.S. food ingredients supplier, acquired the premix operations of Lycored based at the U.K. and China. The acquisition has enhanced the premix supply capacity of Prinova over 2x times, meanwhile providing the company with a global footprint. According to Prinova’s president, Don Thorp, the acquisition will benefit their company’s already made investment in dry and liquid nutrient & flavor premix blend operations based at North America.
Montreal-based Lallemand, in the previous year, launched a new range of vitamin D premixes, called Instaferm VitaD premixes, blends of dried VitaD yeast and wheat flour for use in fine bakery products, rolls, and bread. This premix range, vitamin D2 baker’s yeast, has been approved by the U.S. FDA for use in yeast-leavened baked snacks and baking mixes, 400 International Units (I.U.s) being the maximum level.
Fact.MR’s report has identified key players supporting expansion of the global food premix market, which include Glanbia plc, Koninklijke DSM N.V., BASF SE, Fenchem Biotek Ltd., Lycored Ltd., and Prinova Group LLC.
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