Premix market growth is being driven primarily by rising demand for fortified foods. Increasing demand for food fortification due to an increase in micronutrient deficiency illnesses among the worldwide population and a shortage of micronutrients in food is driving food premix market expansion. The increased use of nutrient premixes in the preparation of newborn nutrition as a result of rising customer demand for nutritional fortification of infant formula is fueling market expansion. The high costs associated with food fortification techniques for large-scale food manufacturing are expected to stymie the expansion of the food premix industry. Food fortification necessitates sophisticated technology, which many producers outsource manufacturing of premix, which raises the production cost. As a result, the high cost of food fortification is projected to stifle market expansion.
According to Coherent Market Insigths, Global Food Premix Market was valued at US$ 1.6 Billion in 2021 in terms of revenue, exhibiting a CAGR of 4.6% during the forecast period (2022 to 2030).
Prominent Players in the Food Premix Industry:
1. Archer Daniels Midland Company
Archer-Daniels-Midland Company procures, transports, stores, processes, and merchandises agricultural commodities, products, and ingredients in the United States, Switzerland, the Cayman Islands, Brazil, Mexico, Canada, the United Kingdom, and internationally. The company operates in three segments: Ag Services and Oilseeds, Carbohydrate Solutions, and Nutrition. The company was founded in 1902 and is headquartered in Chicago, Illinois.
2. Koninklijke DSM N.V.
Koninklijke DSM N.V., a science-based company, engages in health and nutrition businesses in the Netherlands, Switzerland, rest of Europe, North America, Latin America, China, rest of Asia, and internationally. It operates through Animal Nutrition & Health (ANH); Health, Nutrition & Care (HNC); and Food & Beverage segments. The company was founded in 1902 and is headquartered in Heerlen, the Netherlands. In September 2022, DSM, announced the completion of its acquisition of Prodap, by harnessing the power of Prodap’s digital solutions, DSM will take another step forward in its precision & personalization journey.
3. Glanbia plc
Glanbia plc operates as a nutrition company worldwide. The company manufactures and sells sports nutrition and lifestyle nutrition products in various formats, including powders, ready-to-eat bars and snacking foods, and ready-to-drink beverages. It operates a portfolio of brands, including Optimum Nutrition, BSN, Isopure, Nutramino, SlimFast, think!, Amazing Grass, Body & Fit, and LevlUp brands. Glanbia plc was founded in 1964 and is headquartered in Kilkenny, Ireland.
4. Jubilant Life Sciences
Jubilant Life Sciences Limited, is an integrated global pharmaceutical and life sciences company.Jubilant Life Sciences Limited is an integrated global pharmaceutical and life sciences Company engaged in Pharmaceuticals, The Life Science Ingredients segment, is engaged in Specialty Intermediates, Nutritional Products and Life Science Chemicals through 5 manufacturing facilities in India. The Company is well recognized as a ‘Partner of Choice’ by leading pharmaceuticals and life sciences companies globally. The company was established in 1978, headquartered in Uttar Pradesh, India.
5. Hexagon Nutrition Pvt. Ltd.
The company was founded in 1993, headquartered in Mumbai, India. It is manufacturer of nutritional supplements intended to combat the ill effects of malnutrition. The company's nutraceuticals include micronutrient premixes, ready-to-use therapeutic food, clinical nutrition, animal nutrition, flour enzymes and home fortification food, supplied to hospitals and over-the-counter centers
6. Fenchem
Fenchem is a producer and marketer of ingredients for the nutrition and health, food and beverage, cosmetics and personal care, feed and pet food, API and agro chemistry, and coatings and construction sectors. The company was founded in 1995, headquartered in Jiangsu, China.
7. SternVitamin
The company was founded in 2016, headquartered in Ahrens burg, Germany. SternVitamin’s is a manufacturing company that specializes in the development of high-quality vitamin and mineral premixes.
8. Lycored
Lycored develops added-value nutrients for use in dietary supplements, functional food and beverages, and nutricosmetics. Its products include natural carotenoids sucas lycopene, vitamins, and minerals, as well as other functional ingredients. It is part of the ADAMA Group. The company was founded in 1995, headquartered in Israel. In January 2022, Lycored opened a new processing facility in Branchburg for its carotenoids, vitamins, minerals, amino acids and food ingredients.
9. Barentz
Barentz is a global provider of ingredients for the life sciences markets. Representing world-class suppliers, Barentz offers customers a comprehensive portfolio of speciality ingredients, including unique specialty ingredients and blends from Barentz-owned production companies. The company was founded in 1953, headquartered in Netherlands. Barentz is growing through acquisition, having completed the purchase of Pestell Nutrition in Ontario and its USA affiliate, Origination LLC. The deal closed on July 30, 2021.
*Definition- Food premix is a mixture of minerals, vitamins, and other functional substances that is used to fortify food and beverages.
