Food Grade Vitamin & Mineral Premixes Market will Reach US$ 7,751.4 Mn by 2026

In terms of revenue, the global food grade vitamin & mineral premixes market was valued at US$ 5,263.0 Mn in 2018 and is expected to reach US$ 7,751.4 Mn by the end of the forecast period, expanding at a CAGR of 5.1% during the forecast period.

Growing demand for fortified foods:

Awareness about the deficiency of micronutrients such as folic acid, iron, vitamins, iodine, and zinc has resulted in a rise in demand for fortified food products. Iron deficiency is highest, especially among pregnant women and children. Consumers are seeking fortified food and beverage products such as cheese, dairy-based drinks, ice creams, and yogurt.

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In order to meet the growing demand for these products, companies such as Nestle are focussing upon introducing new products. For instance, the company introduced Nesquik Super Breakfast protein drink for children which are fortified with vitamin A and D, milk protein concentrate, as well as calcium. This will further help the global food grade vitamin & mineral premixes market to propel during the forecast year.

 Government fortification programs in developed regions such as Europe and North America have been strong owing to the efforts backing fortification. Developing economies such as Asia Pacific, Middle East & Africa are also adopting the same path due to the promotional programs conducted by organizations such as UNICEF and WHO towards food fortification. For instance, in 2019, the Indian government prepared a detailed roadmap for the distribution of fortified rice in all states. Under this scheme, rice is fortified with iron, folic acid, and vitamin B12. The Pilot Scheme has been approved for a period of coming three years. The increasing number of pilot schemes across developing countries further propelling the food-grade vitamin & mineral premixes market growth.

Key Findings:

• Asia Pacific region dominated the global food grade vitamin & mineral premixes market in 2018 and accounted for a market share of 34.9% in 2018 and expected to show similar trends during the forecast period.
• The Indian government mandated the mid-day meal program in schools to fight malnutrition. This initiative is expected to augment the market growth of food-grade vitamin & mineral premixes market in the country in the coming years.

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Recent News:

• In 2019, Prinova Group LLC was acquired by Nagase & Co. Ltd. This acquisition will help Prinova expand its portfolio in food and nutrition ingredients value chain in North America, Europe, and Asia.
• In 2019, Nestlé Health Science Launched New BOOST, a nutritional drink for oncology patients. This product was developed in collaboration with oncology centers and cancer patients. This product is for Providing nutritional support for patients who experience certain side effects of cancer treatment.

• In 2019, Hexagon Nutrition Premix SBU TEAM and Nashik Plant Team partnered for a wonderful brainstorming session on transactional analysis on nutrition premix. This will help both the companies in future product development of nutrition premixes.
• In 2019, Abbott introduced Similac Pro-Advance and Pro-Sensitive with 2'-FL HMO, which are the only formulas available with an added HMO. This addition of HMO in the premix will help infants get those nutrients that are found in breastmilk. This unique product launch gave rise to company’s revenue and extended company product portfolio.
• In 2019, BASF and Glycosyn signed a strategic partnership for the commercialization of human milk oligosaccharides. The strategic partnership included an exclusive license of Glycosyn´s patent portfolio for gut health beyond infant nutrition to BASF. BASF will extend its offering for nutrition food and premixes after this partnership.

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