The Europe Food Premix Market is poised for robust growth, projecting a healthy CAGR of 9.5% from 2023 to 2033. Estimated at US$ 599 million in 2023, it is expected to reach US$ 1,489 million by 2033. Vitamin-based premixes currently dominate with a 31% market share. Key drivers include rising health consciousness, demand across industries like dietary supplements, and a growing trend of fortification.
The Europe Food Premix Market is witnessing substantial growth driven by health-conscious consumers, demand across diverse industries, and a focus on fortification. Vitamin-based premixes, particularly in the United Kingdom and Germany, are pivotal in this trajectory. The market landscape is competitive, with key players strategically innovating to meet evolving consumer preferences.
In summary, Europe’s food premix market presents lucrative opportunities for investors, driven by dynamic consumer trends and a growing market for functional and fortified foods. The focus on plant-based solutions adds a distinctive edge, positioning the region as a significant player in the global food premix industry.
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Key Growing Factor: Increasing consumer spending on functional foods and beverages propels the market forward.
- Market Dynamics:
- Drivers: Growing demand, health awareness, customized premixes.
- Restraints: Stringent regulations, raw material supply insecurity.
- Opportunities: Plant-based premixes, consumer spending on functional foods.
- Country-wise Insights:
- United Kingdom: Exhibiting a 4.1% CAGR, driven by demand for fortified foods.
- Germany: Steady growth attributed to high-nutritional packaged foods and sports nutrition industry expansion.
- Category-wise Insights:
- Ingredient Type: Vitamins lead, driven by their use in supplements, food & beverages.
- End Use Application: Food & beverages segment to dominate due to nutritional content improvement.
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.
Recent Developments:
- In December 2020, to meet growing demand for plant-based foods, a new range of premixes for dairy replacements products was launched by Prinova Europe.
- In 2021, new micronutrient premixes were developed by SternVitamin, a subsidiary of Stern-Wywiol Gruppe, for the fortification of plant-based items.
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Europe Food Premix Industry by Category
By Form:
- Powder
- Liquid
By Ingredient Type:
- Vitamins
- Minerals
- Amino Acids
- Nucleotides
By End Use Application:
- Early Life Nutrition/ Baby Food
- Pharma OTC Drugs
- Food & Beverages
- Dietary Supplements
By Function Type:
- Bone Health
- Immunity
- Digestion
- Vision Health
- Energy
- Weight Management
- Heart Health
- Brain Health & Memory
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 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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