Indian Food Fortification Premix Market Report till 2024
Added: (Wed Feb 27 2019)
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According to a new report by EMR titled ‘India Food Fortification Premix Market Report and Forecast 2019-2024’, the Indian food fortification premix market grew rapidly at a CAGR of 23.2% annually between 2014 to 2018, reaching a value of more than INR 1.7 billion. The market will continue to show an impressive growth over the next five years with a projected CAGR of around 18% for the period 2019-2024.
Based on a recent report by the Food Safety and Standards Authority of India (FSSAI), almost half of India’s population suffers from some form of micronutrient deficiency. Micronutrients like vitamins and minerals, although required in small amounts by the human body, are essential for maintaining optimum health as they help in forming hormones and enzymes. Deficiency of micronutrients can cause acute anemia, cognitive delays, decreased immunity and might result in the increase of birth defects.
In India, the economically weaker sections of the society are at a particular risk of micronutrient deficiencies. To counter this rise of micronutrient malnutrition, India was one the first countries to mandatorily fortify ‘Vanaspati’ with Vitamin A and salt with iodine in the 1950s and 1980s respectively. FSSAI has been encouraging the increased use of fortified food staples, with new regulations for fortification introduced in 2017. These steps by the government along with a growing preference of the consumers towards a healthier diet has provided a positive impetus for the Indian food fortification premix market by EMR.
Market Analysis by Type, Form and Application:
* Vitamin and mineral premixes are the main types of food fortification premixes analysed in the report, among others.
* On the basis of premix form, the market is segmented into powder and liquid premixes.
* Food fortification premixes find their application in sports nutrition and dietary supplements, infants or early nutrition, processed foods, beverages, and food staples industries in India.
* This report provides in-depth analysis of the food staples fortification premix market, including historical demand and forecast for edible oil, milk, wheat flour, double fortified salt and rice fortification.
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Key Findings of the Report:
* Increasing preference for functional foods in the urban population of India will aid the growth of Indian food fortification premix market.
* Fortified food staples like edible oil, milk, wheat, rice and salt distributed through various government initiatives have helped the segment to attain the largest application share in the Indian market.
* The sports supplements and dietary sector follows food staples in the application of food fortification premix with a growing demand for functional foods like protein bars and drinks from people seeking a healthy lifestyle along with solutions for weight management.
* In 2012, nearly 45% of Indian children were diagnosed with deficiency in various micronutrients, leading to the infant and early nutrition sector being an important focus for food fortification, with government initiatives such as the Integrated Child Development Scheme (ICDS).
To view the report summary and Table of Contents, click on: https://www.expertmarketresearch.com/reports/india-food-fortification-premix-market
Key Offerings of the Report:
* The EMR report explores the historical (2014-2018) and forecasted (2019-2024) market of Indian food fortification premix industry according to its type, form and applications.
* The report presents a detailed analysis of the trade data for the food fortification premixes and identifies the major importing and export countries by value and volume for India in 2018.
* It presents the historical (2014-2018) price trends for vitamin and mineral premixes as well as forecast for the same for the period 2019-2024.
* It offers detailed analysis of the food staples fortification premix market by giving historical (2014-2018) and future (2019-2024) market insight into edible oil, milk, wheat flour, double fortified salt and rice fortification, along with their respective price trends.
According to EMR, the key players in the Indian food fortification premix market are 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., and Global Calcium Pvt. Ltd. The report provides information about the latest supplier developments as well as the updated market share, and capacities of these major players in the Indian food fortification market.
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