In terms of value, the global food premix market is projected to expand at a CAGR of 5.3% over the forecast period (2016–2026) and reach a value of US$ 2,033 Mn by 2026 end. The nucleotides ingredient type segment is projected to register a CAGR of 7.5% in terms of revenue over the forecast period. This segment is expected to remain dominant and account for 10.7% value share over the forecast period. Vitamins segment is estimated to account for substantial value share in 2016 end, owing to continuous development of new and innovative customised premixes by manufacturers in the global market.
By function type, the weight management segment is estimated to account for 21.0% share of the overall global market revenue by 2016 end, and is expected to contribute significantly high revenue over the forecast period. The energy segment is expected to witness favorable revenue growth, registering a CAGR of 4.1% over the forecast period. This segment is projected to create incremental $ opportunity of US$ 155 Mn between 2016 and 2026.
Markets in North America, Western Europe and Asia Pacific are expected to contribute significantly to overall revenue of the global food premix market. Rising demand for fortified foods coupled with increasing production of customised blends of vitamins and minerals in these regions are factors expected to fuel growth of the global food premix market. In addition, the market in North America is estimated to account for majority revenue share of 35.2% in 2016 end.
North America market is expected to witness comparatively high growth in terms of value over the forecast period. The vitamins segment in markets North America, Western Europe and Asia Pacific is estimated to account for over 70% revenue share of the global food premix market by 2016 end. Vitamin, mineral and amino acid segments are expected to witness significant growth rates over the forecast period in the aforementioned regional markets.
Increasing demand for fortified foods is attributed to addition of essential ingredients such as vitamins, minerals, amino acids and nucleotides. Demand for innovative premix products from the food industry is expected to increase as various companies engaged in production of customised blends of vitamin and mineral premixes that are used in various food applications such as sports and infant nutrition products, dietary supplements and clinical nutrition.
MRRSE offers custom market research services that help clients to get information on their business scenario required where syndicated solutions are not enough.Get A Free Custom Research Quote