Nutritional Premixes Market to Reach $17.75 Billion by 2031 - Exclusive Report by Meticulous Research - Seite 2

Based on form, the nutritional premixes market is segmented into powder and liquid form. In 2024, the powder form segment is expected to account for the larger share of 86% of the nutritional premixes market. The large market share of this segment is attributed to the benefits of nutritional premixes in powder form, such as better homogeneity, ease of handling & transportation, and lower costs compared to nutritional premixes in liquid form. However, the liquid form segment is projected to register the highest CAGR during the forecast period.

Based on application, the nutritional premixes market is segmented into animal feed, nutrition & health supplements, food & beverages, and other applications. In 2024, the animal feed segment is expected to account for the largest share of 85.3% of the nutritional premixes market. The segment's large market share is mainly attributed to the rapidly growing livestock industry, the increasing adoption of nutritional premixes due to the ban on the use of antibiotic growth promoters in animal feed, increasing global meat consumption, and rising awareness regarding animal welfare.

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However, the food & beverages segment is expected to register the highest CAGR of 6.9% during the forecast period of 2024–2031. The rapid growth of this segment is driven by the multitude of functional benefits offered by nutritional premixes, the rising demand for fortified food & beverages, the increasing adoption of healthy & nutrition-rich diets, and increased investments and expansions in the functional food & beverages industry.

Based on geography, the nutritional premixes market is segmented into five major regions, namely North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2024, Asia-Pacific is expected to account for the largest share of 35.4% of the nutritional premixes market, followed by North America and Europe. The nutritional premixes market in Asia-Pacific is expected to reach $4.46 billion in 2024. Asia-Pacific's major market share is attributed to the region's growing compound animal feed industry, increasing demand for fortified food products, rising investments from major players, and growing health & wellness trends. Moreover, rapid urbanization and economic growth in countries including China, Japan, and India are further expected to support the growth of this market during the forecast period.