The food premix market size was USD 7.13 billion in 2023. The market is projected to grow from USD 7.62 billion in 2024 to USD 13.32 billion by 2032 at a CAGR of 7.23% during the 2024-2032 period. This vital information is presented by Fortune Business Insights™, in its report titled, “Food Premix Market, 2024-2032.” Factors such as rising consumer demand for maintaining their health & wellness and the emerging trend of preventing lifestyle-related diseases will boost the growth of the market during the forecast period. Additionally, the rising consumption of nutraceuticals will increase the footprint of the market.

Information Source: https://www.fortunebusinessinsights.com/food-premix-market-102456

COVID-19 Impact

Rising Sales During Pandemic owing to Increasing Health Concerns to Bolster Market Share

The COVID-19 pandemic has yielded some benefits for the food premix industry, as customers globally have become more health-conscious. Throughout the planned forecast period, the market's footprint is anticipated to grow due to the growing need for immunity-boosting products. The market's top companies are also concentrated on expanding their product offerings, which spurs additional market expansion. Increased concerns about the virus and rising infection risks will increase sales of nutraceutical supplements.

Segments

Type, Application, and Region are Studied

Based on type, the market is divided into vitamins, minerals, amino acids/proteins, and others.

By application, the market is broken down into dietary supplements, beverages, dairy products, bakery products, and others.

In terms of geography, the market is categorized into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.

Report Coverage

The market report provides a thorough overview of the sector by highlighting important elements including the top brands, product categories, and applications. The research also provides an overview of the major developments in the industry and current market trends. The study also covers a number of factors that are anticipated to have an impact on the market—both positively and negatively—during the period of the projected projection.

Drivers & Restraints

Rising Utilization of Premixes for Increased Nutraceutical Manufacturing to Drive Market Growth

The demand for functional foods and drinks, dietary supplements, and nutraceuticals in a variety of formats is expected to rise, which would propel the expansion of the food premix market over the projected period. The market's footprint will also grow as a result of shifting consumer demand and supplements becoming an essential component of normal diets. The market will develop as a result of rising government attention on raising knowledge about the advantages of supplements and growing demand for customized premixes.

Strict regulatory requirements, however, will restrict market expansion during the projected period.

Regional Insights

Asia Pacific Will Dominate Market due to Rising Trend of Extending Lifespans Among Consumers