Food Premix Market Outlook Highlights Major Opportunities Likely to Steer Demand during Forecast Per
The sales of food premix around the world are foreseen to exceed US$ 2,000 Mn in revenues by 2026-end.
[UKPRwire, Wed Apr 24 2019] A recent analytical research report of Fact.MR provides estimations and forecasts on the food premix market at a global, regional, and country level. This report offers growth prospects of the market for the historical (2012-2016) and forecast (2017-2026) period. In its initiating chapter that offers an executive summary of the food premix market, the report offers insights on every market segments along with a quick introduction to key market dynamics and imperative numbers that indicate the global food premix market’s growth potential. The succeeding chapter, titled overview, imparts a comprehensive introduction of the food premix market coupled with a formal definition of the target product “food premix”.
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Mounting instances of appetite loss among the aging population has led them to spend more on fortified and functional food. Growing requirement for nutrition-rich food among health conscious consumers have led manufacturers to incorporate health benefiting ingredients such as vitamin premixes. Food manufacturers are utilizing various ingredients to enhance the appeal, flavor, and functionality of food products.
Food premixes are witnessing a gradual surge in popularity worldwide, and according to a recent Fact.MR report, the global market for food premix will register a steady 5.6% value CAGR during the period of forecast 2017 to 2026. Nearly 735,000 tons of food premix is estimated to sold globally by 2026-end.
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.
According to the research, point-of-use food fortification with micronutrient powders that comprise iron has the potential to alleviate iron deficiency and anemia in children. Focus of future research regarding the same is being directed toward increasing the evidence on adverse effects, developmental outcomes, morbidity, and mortality. Developments such as this are likely to significantly influence growth of the global food premix market in the upcoming years.
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Market Players adopting Expansion Strategies to Increase their Market Footprint
Leading players in the market are adopting key strategies such as acquisitions, mergers and new product launches, in a bid to boost their sales and increase their market footprint. In mid-2017, Prinova, a U.S. food ingredients supplier, acquired the premix operations of Lycored based at the U.K. and China. The acquisition has enhanced the premix supply capacity of Prinova over 2x times, meanwhile providing the company with a global footprint. According to Prinova’s president, Don Thorp, the acquisition will benefit their company’s already made investment in dry and liquid nutrient & flavor premix blend operations based at North America.
Fact.MR’s report has identified key players supporting expansion of the global food premix market, which include Glanbia plc, Koninklijke DSM N.V., BASF SE, Fenchem Biotek Ltd., Lycored Ltd., and Prinova Group LLC.
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