Food fortification, which involves the incorporation of micronutrients such as vitamins and minerals into foods and condiments, has been practiced by American food companies for almost a century. With the current consumer demographic being highly aware of the benefits of nutritionally dense foods, companies are fortifying their food formulations with vitamin and mineral premixes. This demand is expected to continue through the next eight years with an estimated $1 billion or more in global sales of vitamin and mineral premixes by the end of 2026.
Food fortification through adding essential vitamins and minerals has been noted to be one of the most cost effective, fastest and efficient methods used to increase the nutritional value of food products. This practice is becoming so commonplace that the global vitamin and mineral premixes market is projected to increase at a CAGR of 4.6 percent through 2026 and was valued at almost $700 million in 2017. This continuous growth is reflected by the consumer demand for added nutrition in their daily meals and snacks.
“With the increasing number of obese and diabetic individuals, leading manufacturers in the food industry are concentrating on developing nutrition-dense products. Food manufacturers are diversifying their focus towards production of nutrition-dense and low-fat food products that are central to the specific health requirements of the individuals,” said a recent press release about the report.
Vitamin and mineral premixes provide manufacturers with the ability to formulate low-calorie food products with added nutrition. Through offering these low-calorie and nutrient dense products, food companies are able to appeal to the health-conscious consumer demographic that is currently dominating the food industry. With diabetes and obesity becoming serious and common health issues in the world, manufacturers are able to assist in the weight loss goals of many consumers. Vitamin and mineral premixes can be utilized in a variety of food products such as functional foods, bakery items, yogurts and desserts.
“Shift in preferences of health and fitness conscious individuals has led leading manufacturers in the food industry to opt for nutrition-rich ingredients. Health conditions such as malnutrition, cardiovascular diseases, and diabetes has fragmented demand for food products among consumers. Individuals prefer spending on products that supplement the requirements of their health,” said the press release.
Prior to this growing health food trend, busy consumers used to opt for calorie and cholesterol dense on-the-go foods. As health concerns became more apparent, the food industry was disrupted by this growing demand for healthier food options. In terms of revenue, the weight management category is expected to be the most profitable, accounting for $270 million by the end of 2026.
Currently, North America is dominating the demand for this growth in vitamin and mineral premixes, accounting for more that $400 million. Alternatively, Japan has been estimated to generate the lowest revenues for this market. However, with the global market for fortified and functional foods totaled at over $12 billion annually, food fortification has been proven to catch the attention of health focused consumers.