According to the latest research report by Future Market Insight, Europe food premix sales are estimated to total a valuation of US$ 599 million in 2023. The market size in the region is projected to expand at 9.5% CAGR between 2023 and 2033, reaching around US$ 1,489 million by 2033.
Rising application of food premixes in industries such as food & beverage, dietary supplements, and pharmaceuticals along with growing health awareness and increasing demand for fortified food is a key factor driving Europe’s food premix market forward.
Food premixes have been scientifically shown to reduce fat and increase health, and vision. They are an obvious choice for sports nutrition businesses as they help in boosting focus & vision, and cognitive function.
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Thanks to numerous health and nutritional benefits of food premixes they are being increasingly utilized in products such as food & beverages, baby nutrition, dietary supplements, and OTC drugs. Rising consumption of these products due to increasing population, changing lifestyles, and growing focus on health and fitness will eventually boost Europe’s food premix industry during the assessment period.
Premix food development requires a thorough process of balancing the metabolically active mixture of micronutrients and components with minimal influence on the final formulation. As manufacturers are focused on providing customized food premixes to fulfill the needs of individual users, the market is set to thrive at a robust pace over the next decade.
The booming nutrition sector across Europe is another factor boosting food premix sales. Food premixes, especially protein/amino acid premixes are being increasingly used in dietary supplements to improve their nutritional content.
Similarly, increasing usage of food premixes in baked goods industry and high spending on bakery items will create lucrative opportunities for food premix manufacturers over the projection period.
Despite these promising developments, the industry is still likely to face several obstacles, such as changing customer demand, strict rules and regulations, and a lack of security in the supply of raw materials and other manufacturing inputs.
Key Takeaways from Market Study
- Europe’s food premix market is estimated to be valued at US$ 599 million in 2023.
- By ingredient type, the vitamins segment holds a prominent share of the market and it is expected to progress at a significant pace over the next ten years.
- Based on end use application, the food & beverages segment will continue to dominate Europe’s food premix market during the forecast period.
- Demand for food premixes across the United Kingdom is slated to rise at 4.1% CAGR between 2023 and 2033.
- Spain’s food premix market is forecast to expand at 3.3% CAGR throughout the forecast period.
“Growing demand for fortified foods to meet their nutritional requirements as well as to reduce chances of disease development will act as a catalyst for facilitating development of Europe’s food premix market during the forecast period. Besides this, penetration of new players will bode well for the market,” says a principal analyst of Future Market Insights.
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Competitive Landscape
Leading food premix companies operating in the market include Glanbia, SternVitamin, DSM, Jubilant Life Sciences, Fenchem, Prinova Group, B&H Biotechnology, Watson Inc, Hexagon Nutrition, and Farbest Brands,
These key players are constantly introducing novel premixes for specific applications to increase their revenue share. Further, expansion of manufacturing facilities in high-growth countries, advancements in food premix products, partnerships, joint ventures, collaborations, mergers, and acquisitions are few of the frequently adopted strategies by companies to gain a competitive edge in the market.
Get More Valuable Insights
Future Market Insights, in its new offering, provides an unbiased analysis of Europe Food Premix presenting historical demand data (2018 to 2022) and forecast statistics for the period from 2023 to 2033.
The study incorporates compelling insights on the Europe Food Premix Market based on form (powder, liquid), ingredient type (vitamins, minerals, amino acids, nucleotides), end use application (pharma OTC drugs, food & beverages, dietary supplements, early life nutrition/baby food,), and function type (bone health, immunity, digestion, vision health, energy, weight management, heart health, brain health & memory immunity, bone health) across European countries.
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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