Food Premix Market to be Worth $2.93 Billion by 2030

According to a new market research report titled, 'Food Premix Market by Type (Multiple Micronutrient Premixes, Vitamin Premixes, Mineral Premixes, Amino Acid Premixes), Form (Powder, Liquid), Application (Health Supplements, Food & Beverages, Pharmaceutical) - Global Forecast to 2030,' the food premix market is expected to reach $2.93 billion by 2030, at a CAGR of 6.9% from 2023 to 2030.

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The growth of the food premix market is driven by the growing health and wellness trend and changing dietary patterns globally. Food consumption habits and preferences have changed considerably in the last few years. Factors such as changing demographics, increasing health concerns, growing disposable incomes, rising adoption of vegetarianism, and food customization have brought numerous changes to the food industry. Further, convenience in usage as a single ingredient over multiple ingredients increases the demand for food premixes from foods, beverages, supplements, and pharmaceutical industries.

Moreover, the demand for nutrition from emerging economies, particularly Southeast Asia, Latin America, and Africa, drive the growth of the food premix market. Over the recent years, many emerging economies in Southeast Asia, the Middle East & Africa, and Latin America have seen fast and significant changes in food consumption levels and patterns. The increasing urbanization and population growth in Asia and Africa contribute significantly to the demand for food premixes in these emerging markets. However, regulatory structure & intervention and technical problems during storage and handling restrain the growth of this market.

The food premix market is segmented based on type, form, application, and geography. The study also evaluates industry competitors and analyses the market at the regional and country levels.

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Key Findings in the Food Premix Market Study:

Based on type, the food premix market is segmented into multiple micronutrients premixes, vitamin premixes, mineral premixes, amino acid premixes, nucleotide premixes, fiber premixes, nutraceutical premixes, and other food premixes. In 2023, the multiple micronutrients premixes segment is expected to account for the largest share of the food premix market. The large market share of this segment is attributed to factors such as the increasing demand for processed food and health supplements to reduce nutritional deficiencies and the rising number of people with nutritional deficiencies. This segment is also slated to register the highest CAGR during the forecast period.

Based on form, the food premix market is segmented into powder and liquid. In 2023, the powder segment is expected to account for the largest share of the food premix market. However, the liquid segment is expected to register the highest CAGR during the forecast period due to the increasing demand from beverage manufacturers. Liquid premix blends help to create new products with greater ease. In product manufacturing, liquid food premixes help to improve viscosity, mouthfeel, product stability, texture, shelf life, taste, and visual aspect.

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Based on application, the food premix market is segmented into nutrition and health supplements, food & beverages, pharmaceuticals, and other applications. In 2023, the nutrition and health supplements segment is expected to account for the largest share of the food premix market. The large market share of this segment is attributed to the increasing demand for food premixes in nutrition and health supplements driven by the aging population, health & wellness trend, and high prevalence of diseases. However, the food & beverages segment is projected to register the highest CAGR during the forecast period.

Based on geography, in 2023, North America is expected to account for the largest share of the food premix market. North America's major market share is attributed to the well-established food & beverages sector, increasing focus on food safety, rising prevalence of chronic diseases, increasing consumer expectations for innovation and healthy food products, strong economic growth, and the presence of major market players in the region. However, Asia-Pacific is projected to register the highest CAGR during the forecast period.

Some of the key players operating in the food premix market 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.).

To gain more insights into the market with a detailed table of content and figures, click here: https://www.meticulousresearch.com/product/food-premix-market-4236

Scope of the report

Food Premix Market, by Type

Multiple Micronutrients Premixes
Vitamin Premixes
Mineral Premixes
Amino Acid Premixes
Nucleotide Premixes
Fiber Premixes
Nutraceutical Premixes
Other Food Premixes

Food Premix Market, by Form

Powder
Liquid

Food Premix Market, by Application

Nutrition and Health Supplements
Dietary Supplements
Infant Nutrition
Sports Nutrition
Clinical Nutrition
Food & Beverages
Beverages
Milk and Milk Products
Bakery & Confectionary
Cereals & Snacks
Other Food & Beverages
Pharmaceuticals
Other Applications

Food Premix Market, by Geography

North America
U.S.
Canada
Europe
Germany
France
U.K.
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
Rest of Asia-Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle East & Africa

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This release was published on openPR.