India Food Fortification Premix Market Report Key Insights:
- Market Performance & Price Analysis 2018
- Market Analysis & Outlook 2019-2024
In 2018, the food fortification premix market in India attained a volume of more than 440 metric tons and was valued at more than INR 1.7 billion in 2018 owing to robust demand. The market witnessed a CAGR of 23.2% annually during the period of 2014 to 2018.
Micronutrient deficiency is a serious risk in India, especially for the economically disadvantaged. India was one of the earliest participants for mandatory fortification of salt with iodine, and Vanaspati with Vitamin A. The increasing demand for fortified foods due to greater awareness towards healthier dietary choices and the active government initiatives to fortify food staples to combat malnutrition in India are driving the growth of the market in the country.
With the introduction of FSSAI regulations for fortification in 2017 and their efforts to increase the usage of fortified staples, the demand for premixes for this application in India has increased, thereby propelling the growth of the overall market.
The food fortification premix market is expected to grow significantly in the years to come, owing to changing consumer preferences for functional foods amongst the urban population and significant increase in the fortification of food staples like edible oil, milk, wheat, rice and salt that would be distributed through various government schemes in the country. Indian market is anticipated to grow at a CAGR of approximately 18% between 2019 and 2024.
India Food Fortification Premix Market Analysis
By type, the present report provides a segment-wise analysis of the market on:
- Vitamin Premix
- Mineral Premix
- Other Premixes
Vitamin premixes are the most popular, holding the largest share in the market, followed by mineral premixes. vitamin Bs, vitamin D, vitamin A, iron, calcium and zinc are popular examples of vitamins and minerals used in premixes for food fortification. Other premixes include amino acids, nucleotides and nutritional lipids premixes, etc.
By form, this report provides a segment-wise analysis of the market based on:
- Powder Premix
- Liquid Premix
Further, the report sheds light on the macro and micro aspects of industry performance, recent trends, major challenges and key drivers. SWOT analysis, value chain analysis and Porter’s five forces analysis of the market have been carried out.
Food Fortification Premix Market: Applications
Premixes used for fortification, that enhance the nutritional value of various food commodities, are commonly used in the following sectors:
- Sports Nutrition & Dietary Supplements
- Processed Foods
- Food Staples
- Infants/ Early Nutrition
Functional foods like protein drinks and bars along with growing dependence on sports nutrition for fitness have showcased an increasing demand from people searching for weight management solutions while maintaining a sound lifestyle. Attributing to these reasons, sports nutrition & dietary supplements is the second largest application segment, after food staples, in the market and is expected to grow steadily during the coming years.
In 2012, 45% of the children were diagnosed with varied types of micronutrient deficiencies like that of Vitamin A, B and D, zinc, calcium, iron and iodine, that made up for the top seven. This made infant nutrition an important application segment that aided the growth of the market in India.
The report presents a detailed analysis of the following key players covering their capacities, market share and latest turn of events from the supplier side in the food fortification premix market in India:
- DSM Nutritional Products India Pvt. Ltd.
- Piramal Enterprises Ltd.
- P D Navkar Biochem Pvt. Ltd.
- Hexagon Nutrition Pvt. Ltd.
- Pristine Organics Pvt. Ltd.
- Fuerst Day Lawson (India) Pvt. Ltd.
- Manisha Pharmo-Plast Pvt. Ltd.
- AQC Chem-Lab Pvt. Ltd.
- Global Calcium Pvt. Ltd.