About Food Premix
Food premix is the customized blend of precise and balanced nutrient components in the powdered or liquid form which includes vitamins, minerals, nucleotides, and amino-acids with some other functional ingredients. Its formulation is regulated by the recommended dietary allowance (RDA). Its consumption in developing countries is high because of growing disposable income. Food premix is used for animal nutrition, human nutrition, personal care etc. Inorganically made premixes may find it difficult to survive in the market.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Competition among existing players is due to the Food Premix market share occupied by leading players. The industry leader is engaged in offering innovative and superior quality products to cater to the ever-growing demand for Food Premix market. The companies are implementing strategic activities such as acquisitions and mergers along with collaboration with companies in other industries to aid them in improving sustenance and maintaining their competitive advantage. Analyst at AMA Research estimates that United States Vendors will contribute the maximum growth to Global Food Premix market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Glanbia plc (Ireland), Archer Daniels Midland (ADM) (United States), Prinova (United States), Barentz (Netherlands), Cargill (United States), Food Valley (Netherlands), Jubilant Lifescience (India), Fenchem Biotek (China), Watson Inc. (United States) and SternVitamin (Germany) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Farbest (United States).
Segmentation Overview
AMA Research has segmented the market of Global Food Premix market by Type (Vitamins, Minerals, Amino Acids, Nutraceuticals, Customized and Others), Application (Human Nutrition, Animal Nutrition, Pharma, Personal Care and Agrochemical) and Region.
On the basis of geography, the market of Food Premix has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Form, the sub-segment i.e. Powder will boost the Food Premix market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Distribution Channels, the sub-segment i.e. Supermarket will boost the Food Premix market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Adoption of Food Premix in Cosmetics and Personal Care Products and Increasing Prevalence of Nutrient Deficiency
Market Growth Drivers:
Growing Health Awareness among People, Increasing use of Premixes for Infants Nutrition and Growing Disposable Income and Changes in Lifestyle
Challenges:
Availability of Inorganic Food Premix will hinder the Market Growth
Restraints:
Lack of Awareness about the Fortified Food Premixes will hinder the Market Growth and Risk of Side effects Associated with the Food Premix
Opportunities:
Increasing use of Food Premix in the Pharmaceutical and Animal Feeding and Growing Prevalence of E-commerce market will boost the Market
Market Leaders and their expansionary development strategies
In February 2019, Glanbia Nutritionals has agreed to acquire Watson, a US-based producer of custom nutrient premixes, expanding Glanbia’s premix portfolio. Connecticut-headquartered Watson also produces a range of bakery ingredients, edible film and material conditioning solutions for the nutrition, food and beverages industries, as well as the supplement segment.
In September 2022, Indimix, a ready-to-cook food range from the House of Pansari, has been recently launched in the market. Along with the vast majority of FMGC brands, New Delhi-based Pansari Group is aware of and taking note of the shifting preferences of the general public. They are making an effort to cater to the converging markets of breakfast and snacking by introducing packaged foods that are both ready-to-cook and healthy snacking options.
In 2018, FSSAI conducted a training programme regarding the licensing of premix. It was informed that any intermediary products or premixes that are not consumed directly are to be added for the final consumption fall under Food Code Category 99.
Key Target Audience
Food Premix Providers, Food Premix Distributors and Suppliers, International Traders, Research and Development Institutes, Potential Investors, Regulatory Bodies and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.