India Food Fortification Premix Market to be Driven by Changing Consumer Preferences in the Forecast Period of 2021-2026
The new report by Expert Market Research titled, ‘India Food Fortification Premix Market Report and Forecast 2021-2026’, gives an in-depth analysis of the India food fortification premix market, assessing the market based on its segments like type, form, and application. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2016-2026)
- Historical Market Size (2020): INR 2 billion
- Historical CAGR (2016-2020): 23.2%
In India, micronutrient deficiency is a serious problem, especially among the poor. India was one of the first countries to require the addition of iodine to salt and Vitamin A to Vanaspati. The market in India is growing due to the rising demand for fortified foods as people become more conscious of healthy nutritional options and aggressive government efforts to fortify food staples to tackle malnutrition. The demand for premixes for this application in India has increased as a result of the implementation of FSSAI regulations for fortification in 2017 and their attempts to expand the use of fortified staples, propelling the overall market development. Due to shifting consumer tastes for functional foods among the urban population and a major increase in the fortification of food staples that will be distributed through various government schemes in the region, the food fortification premix market is expected to expand in the coming years.
Industry Definition and Major Segments
The method of adding micronutrients (essential trace elements and vitamins) to food is known as food fortification or enrichment. Food makers should do that, or policymakers can do that as part of a public health policy to reduce the number of individuals with nutritional disorders in a population.
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The food fortification premix market can be differentiated by type into:
By form, this report provides a segment-wise analysis of the market based on:
- Powder
- Liquid
Premixes used for fortification, that enhance the nutritional value of various food commodities, are commonly used in the following application sectors:
- Sports Nutrition and Dietary Supplements
- Processed Foods
- Food Staples
- Infants/ Early Nutrition
- Beverages
- Others
Market Trends
People looking for weight loss options and keeping a healthy lifestyle are increasingly turning to functional foods like protein shakes and bars, as well as a growing reliance on sports supplements for exercise. Due to these factors, sports nutrition and dietary supplements are the second-largest application category in the industry, after food staples, and are projected to continue to expand steadily in the coming years. In 2012, a significant percentage of children were diagnosed with micronutrient deficiency, including Vitamin A, B, and D, zinc, calcium, iron, and iodine, which accounted for the top seven. This has led to an increased demand for food fortification premix in India, consequently boosting the market growth.
Key Market Players
The major players in the market are DSM Nutritional Products India Pvt Ltd., Piramal Enterprises Ltd., P D Navkar Biochem Pvt Ltd., Pristine Organics Pvt. Ltd., Fuerst Day Lawson (India) Pvt Ltd., Manisha Pharmo-Plast Pvt Ltd., AQC Chem-Lab Pvt. Ltd., Hexagon Nutrition, and Global Calcium Pvt Ltd., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
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