Newark, NJ, Aug. 09, 2021 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the global customized premixes market is expected to grow from USD 1553.35 million in 2020 to USD 2466.47 million by 2028, at a CAGR of 5.95% during the forecast period 2021-2028
Certain factors are boosting the growth of the global customized premixes market. Some of them include the awareness regarding healthy lifestyle, rising healthcare costs, customized nature and specificity to individual customer requirements, convenience in usage as a single ingredient over multiple ingredients, and growing demand for fortified & functional foods. In addition to this, increasing consumption of convenience foods and increasing demand for packaged food worldwide is due to healthy and nutritious food. Customized premixes demand is growing significantly, owing to increased consumption of strong beverages among sports athletes worldwide. Further, the popularity of products positioned around improved functioning of the immune system and physical and mental wellbeing is rising worldwide. So, the demand for immunity-boosting products grew at a significant rate amid the COVID-19 pandemic.
Customized premixes are a mixture of amino acids, minerals, fibers, vitamins, nucleotides, nutraceuticals, and others. These are convenient to use as a single ingredient instead of multiple components and are the best alternative to provide required nutrients. Nutrient deficiency often leads to several illnesses. At this juncture, customized premixes step in to provide enough nutrients for busy individuals. These premixes have come up as the best solution for such nutrient deficit busybodies. These customized premixes blend macro and micronutrient, which enhances the nutrition content of a food product.
The global customized premixes market is expected to witness significant growth due to a growing emphasis on weight management. However, there is a rising need for enhancement of food due to nutrient losses. Moreover, food processing coupled with the convenience linked with using a single blend of ingredients compared to many components will further propel the market's growth. The factors restraining the market growth are the high costs of canned and fortified foods. The inaccurate labelling is also a significant factor acting as an inhibitor to their growing market. The increasing inclination towards health-based food products among consumers and increasing investment for R&D activities in the food sector are opportunities for market growth. Additionally, with the issue of the COVID-19 epidemic, people have become health-conscious. The epidemic shapes the future of the global customized premix market with higher supplements and vitamin intake than ever before. The proliferation of COVID-19 has led to a significant rise in the consumption of nutritional products to boost immunity. The demand for fortified food products increased distinctly amidst the outbreak of COVID-19 in several countries.
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Key players operating in the customized premixes market include Vitablend Netherland B.V., Jubilant Life Sciences Limited, SternVitamin GmbH & Co. KG, Utrix S.A.L, Wright Enrichment Inc, Provimi Animal Nutrition India Pvt. Ltd., Piramal Group, Pristine premixes, ADM Animal Nutrition, BI Nutraceuticals, Koninklijke DSM N.V, Corbion N.V., Glanbia plc, Farbest Brands, and Prinova Group LLC. To gain a significant market share in the global customized premixes market, the key players are now focusing on adopting product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships. Koninklijke DSM N.V. is a vital manufacturer operating in the customized premixes market.
- For instance, in August 2019, a US-based provider of nutritional supplements and custom food, Buddy Nutrition, launched a brand new solution of protein premix. This custom powder comes with seven various flavors, covering 17 macro ingredients and ten promoter supplements and with both paleo and vegan options.
- For example, in November 2019, Koninklijke DSM N.V. began a campaign in Chennai to enhance awareness among the consumers regarding health issues caused by iron deficiency and improve the consumption of fortified foods.
The powder segment dominated the market and held the largest market share of 58.15% in 2020.
Based on form, the global customized premixes market is segmented into liquid and powder. The powder segment dominated the market and held the largest market share of 58.15% in 2020. This growth is attributed to the choice of the premixes in dried form with improved shelf-life, and convenience in their handling has accelerated powder form premixes' utilization.
The vitamins segment dominated the market and held the largest market share of 27.12% in 2020.
Based on nutrients, the global customized premixes market is segmented into amino acids, minerals, vitamins, nucleotides, and nutraceuticals. The vitamins segment dominated the market and held the largest market share of 27.12% in 2020. This growth is attributed to vitamins enhancing the well-being of fulfilling and health improvement of nutrition and rising trends of new product development due to their preferences for hair care and skincare.
The beverages segment dominated the market and held the largest market share of 20.19% in 2020.
Based on application, the global customized premixes market is segmented into dietary supplements, nutrition products, cereals, dairy, beverages, bakery & confectionery. The beverages segment dominated the market and held the largest market share of 20.19% in 2020. This growth is attributed to the growing demand for highly fortified products such as sports drinks, fruit juices, vitamin water, energy drinks, isotonic beverages, and other noncarbonated beverages.
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Regional Segment Analysis of the Customized Premixes Market
- North America (U.S, Canada, Mexico)
- Europe (Germany, France, U.K, Italy, Russia, Rest of Europe)
- Asia-Pacific (China, Japan, India, Rest of APAC)
- Latin America (Brazil)
- The Middle East and Africa (South Africa, Saudi Arabia and the Rest of MEA)
Based on geography, the customized premixes market has been classified into North America, Europe, Latin America, Asia Pacific, and the Middle East and Africa. North America region held the largest market share of 28.13% in the year 2020. This growth is attributed to growing innovation and promotion along with the awareness program of the region. The U.S. is dominating the market and leading the increase in North America due to increasing testing laws and regulations to support animal health in the region with a favorable growth rate during the forecast period. On the other hand, the Asia-Pacific region is witnessing significant growth due to the emerging opportunities in China for animal nutrition and wellbeing. Asia-Pacific is known as the production hub of animal feed products. A wide range of customer premixes for animal feed and increasing consumption of it in the region, and increased awareness regarding feed intake capacity of animal is leading the growth in the market.
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About the report:
The global customized premixes market is analyzed on the basis of value (USD Million). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining key insight of the market. The study includes porter's five forces model, attractiveness analysis, raw material analysis, and competitor position grid analysis.
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