The new report by Expert Market Research titled, ‘Global Food Fortification Premix Market Trends, Price, Share, Size, Report and Forecast 2023-2028’, gives an in-depth analysis of the food fortification premix market, assessing the market based on its segments like Type, Application, and Regional market among others.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Consumption Size (2022): 43.69 MMT
- Forecast CAGR (2023-2028): 5.8%
- Forecast Market Consumption Size (2028): 61.27 MMT
Due to the growing popularity of functional foods, North America was the leading region for food fortification premix in 2018. The increased demand for functional foods in North America is attributed to a decrease in key nutrient intake as a result of increased processed food consumption and busy lives. The Americas account for 39% of the market for food fortification premix, with Europe, Asia Pacific, and the Middle East and Africa following closely behind.
The mandated fortification of food staples required in various countries around the world is driving the food fortification premix industry, with 86 countries having mandatory cereal fortification programmes. Wheat flour fortification is now required in 85 nations, whereas maize flour and oil fortification are required in 16 and 29 countries, respectively. In 108 nations, salt fortification is now required. Only six nations need the fortification of rice, which accounts for less than 1% of all industrially milled rice worldwide.
Food Fortification Premix Industry Definition and Major Segments
Food fortification premixes are used to add micronutrients such as vitamins and minerals to food items. Minerals, vitamins, amino acids, and antibiotics are among the ingredients in food premix. It’s utilised 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 contained in the meal premix, improves metabolism and calcium absorption in the body.
On the basis of Type, the food fortification premix market is segmented into:
- Other Premixes
Based on Application, the food fortification premix market is divided into:
- Sports Nutrition & Dietary Supplements
- Infant and Early Nutrition
- Processed Foods
- Food Staples
The major regional markets of the food fortification premix market are:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa regions
Food Fortification Premix Market Trends
With a huge percentage of the world’s population suffering from ‘hidden hunger’ or micronutrient malnutrition, governments throughout the globe are increasingly supporting food fortification as a cost-effective way to alleviate micronutrient deficiencies. Global organisations such as UNICEF, the World Health Organization (WHO), the World Food Programme (WFP), the Global Alliance for Improved Nutrition (GAIN), and Nutrition International, among others, have supported nations in their efforts to address nutritional inadequacies.
The worldwide food fortification premix market has grown as a result of the growing fortification of food items such as milk, rice, and other dietary staples, particularly in emerging nations. Growing consumer awareness of health and nutrition has resulted in an increase in demand for food items with additional vitamins and minerals, giving the food fortification premix industry a boost. The market is also being fueled by rising demand in the pharmaceutical and sports nutrition sectors, as consumers become more mindful of their health and seek for effective weight-loss treatments while maintaining a healthy lifestyle.
Key Market Players
The major players in the market are Royal DSM N.V. (Fortitech Premixes), Glanbia, Plc, SternVitamin GmbH & Co. KG, Vitablend Nederland B.V., Watson Inc., Jubilant Life Sciences, The Wright Group, Farbest-Tallman Foods Corporation, Prinova Europe Limited, Piramal Pharma Solutions, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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