Rising Demand for Food Fortification to Impact Growth of Food Premix Market

Posted on 2019-03-22 by Mark Hub in Food & Beverage // 0 Comments

Rockville, USA, 2019-Mar-22 — /EPR Network/ — A new report of Fact.MR has envisaged the food premix market to record an above-average 4.8% volume CAGR through the forecast period, 2017 to 2026. The sales of food premix around the world are foreseen to exceed US$ 2,000 Mn in revenues by 2026-end.

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.

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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.

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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.

Revenues from sales of food premix in North America and Europe will collectively account for over three-fifth market share over the period of forecast. In addition, the market in APEJ is set to register a relatively faster expansion than that in Europe, although accounting for a comparatively lower market revenue share.

Rapid urbanization, rise in middle-class population with higher GHDI, soaring focus on fitness & health, and western influence on diets of people in APEJ countries, such as India and China, will continue to impact growth of food premix market in the region.

Powder form of food premix are expected to be sought-after among consumers worldwide in the upcoming years, on account of their ease-of-use and storage convenience. Revenues from sales of powdered food premixes will remain considerably larger than those procured from liquid food premixes.

Amino acids will endure as preferred ingredient type in food premix, with an envisaged market revenue share of over 33% during 2017 to 2026. Revenue shares of vitamins and minerals in the market will also remain significant. Sales of nucleotides will record the fastest sales expansion in the market, in terms of value, through 2026.

Key players profiled by Fact.MR’s report on the global food premix market are Hexagon Nutrition Pvt. Ltd., SternVitamin GmbH & Co. KG, Lycored Ltd., Barentz International, WATSON-INC, Prinova Group LLC, Fenchem Biotek Ltd., Farbest Brands, BASF SE, Jubilant Life Sciences, Koninklijke DSM N.V., Archer Daniels Midland Company, and Glanbia plc.

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