According to a new report by Expert Market Research titled ‘India Food Fortification Premix Market Report and Forecast 2020-2025’, the Indian food fortification premix market grew rapidly at a CAGR of 23.2% annually between 2015 to 2019, 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 2020-2025.
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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.
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Market Analysis by Type:
Vitamin and mineral premixes are the main types of food fortification premixes analysed in the report, among others.
Market Analysis by Form:
On the basis of premix form, the market is segmented into powder and liquid premixes.
Market Analysis by Application:
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.
Competitive Landscape & Supplier Analysis:
According to Expert Market Research, 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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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 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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