(EMAILWIRE.COM, August 13, 2022 ) According to this latest publication from Meticulous Research, the global nutritional premixes market is expected to be valued at USD 12,397.8 million by 2023, growing at a CAGR of 4.0% from 2018.
This market is mainly driven by growing health and wellness trend, changing food landscape, increasing demand for fortified food products, convenience in usage as a single ingredient over multiple ingredients, and increasing demand for compound animal feed. Also, expanding middle class population in emerging economies with growing awareness of nutrition provides significant opportunities in this market, Meticulous Research notes in a press release today.
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The global nutritional premixes market is mainly segmented by type (vitamin premixes, mineral premixes, amino acid premixes, nucleotide premixes, fiber premixes, nutraceutical premixes, and others), form (powder and liquid), and application (animal feed, nutrition and health supplements, food and beverages, pharmaceuticals, and others)
The report notes that, Vitamin premixes commanded the largest share of the global nutritional premixes market in 2017, mainly attributed to increasing consumer preferences for blends of different functional ingredients, multiple nutritional benefits of vitamins to humans and animals, growing consumption of vitamin supplements, and increasing demand for vitamin fortified feed and food products. However, the nucleotide premixes market is expected to witness a rapid growth during the forecast period, primarily due to increasing demand from infant nutrition and nutraceutical sectors.
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On the basis of application, animal feed segment accounted for the largest share of the global nutritional premixes market in 2017, primarily due to growing livestock industry with the increasing meat consumption, ban on antibiotics, and increasing importance for animal health and wellness.
The report notes that Asia-Pacific dominated the nutritional premixes market in 2017, mainly due to growing compound animal feed industry, growing economy, increasing demand of fortified food products, and rising investments from major players in the region.
The key players operating in this market are Koninklijke DSM N.V., Glanbia Plc, BASF SE, Corbion N.V., Watson Foods Co., Inc., Archer Daniels Midland Company, Cargill, Incorporated, SternVitamin GmbH & Co. KG, Vitablend Nederland B.V., Hellay Australia Pty. Ltd., Nutreco N.V., InVivo Agrosciences, Farbest-Tallman Foods Corporation, Jubilant Life Sciences Ltd., and Koninklijke Coöperatie Agrifirm U.A.
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