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26
Nov-2019
Facts About Customized Premix Market
Customized Premixes Market is valued at around USD 1.5 Billion in 2019. It is expected to grow at a CAGR of 4.85% over the forecast period to reach a valuation of USD 1.9 Billion by 2024
Introduction:
Customized premixes are mixtures of vitamins, minerals, amino acids, nutraceuticals, nucleotides, fibers and others. These are convenient to use as a single ingredient instead of several components and are a better alternative to provide the necessary nutrients. The elements combine all macro and micronutrients with improving the nutritional value of the final product based on consumer demand.
Custom premixes are used as soil because they are considered mainly as more stable in powder form than in liquid form.
Insufficient nutrients from the food source and lifestyle changes lead to a deficiency of essential nutrients in the body. With the increasing incidence of multiple chronic diseases, custom premixes have become the best option for providing the necessary nutrients. Custom premixes are a mixture of the desired functional components. They include ingredients such as vitamins, amino acids, minerals, nutraceuticals, nucleotides and herbs. Many elements are mixed in these premixes to increase the food value of the product according to the user's demand. Custom premixes offer a unique blend of all desired macro and micronutrients, enhancing the nutritional value of the product.
Growth factors
Customers are more attracted to prepared foods and convenience foods, which in turn are a determining factor in the customized premix market. They prefer several ingredients rather than just one ingredient from a nutritional point of view. As a result of active living, consumers prefer processed foods, which should help grow the global custom premix market. Advertising and promotional activities also improve the global market for custom premixes
Factors such as the growing demand for functional and fortified foods, the increasing need for food fortification due to high levels of food processing, the personalized nature and convenience of use are the main drivers of market growth.
Dynamics
Increasing demand for fortified and functional foods due to increasing consumer awareness of the different nutritional products used to provide taste, color, texture, etc. This is an essential factor that should stimulate the growth of the global custom premix market. In addition, the growing consumption of prepared foods, as well as the increasing demand for packaged foods around the world due to healthy and nutritious meals, are other factors that should stimulate the growth of the target market. The increase in the consumption of processed and ready-to-eat foods in developed and developing countries, increasing urbanization, as well as the rise in disposable income, busy lifestyle, etc., are some of the other factors that should, to a certain extent, stimulate the growth of the target market.
However, the high cost of fortified products and the incorrect labeling of food products are essential factors that may hinder the growth of the target market to some extent.
The growing inclination of consumers for food-based food products and increased investment in R&D in the food sector should create new revenue opportunities for manufacturers operating in the target market.
Recent developments:
On March 20, 2019, DSM launched Vitafoods Europe 2019, which is a personalized innovation focused on the consumer. At booth F10, product designers and marketers will propose ideas on the shape of the product and a range of natural nutrient premixes.
On February 20, 2019, Glanbia Nutritionals, a wholly-owned subsidiary of Glanbia PLC acquired Watson Inc., a manufacturer and supplier of a premix of custom nutrients, bakery ingredients, edible films and packaging solutions for nutrition, food and beverage, personal care and Supplements
Regional Analysis:
The market for custom premixes in North America is expected to be the most significant contributor in terms of revenue share, and the global market for custom premixes is expected to dominate. This domain is due to the growing adoption of custom premixes in the food sector, along with an increasing awareness of healthy eating, increased consumption of processed foods due to hectic lifestyles, particularly in the United States, in the region. The European market for custom premixes is expected to show moderate growth in sales in the target market, followed by the Asia-Pacific. With the increased consumer awareness of health benefits, along with the growing demand for fortified and healthy food products in developing countries, the Asia-Pacific market is expected to grow faster in the next ten years. Rapid urbanization, hectic lifestyles and increased disposable income also propel this region.
Key Stakeholders:
• Suppliers of raw materials.
• Traders, distributors, manufacturers and suppliers of custom premixes.
• Food processors and manufacturers
• Government and research organizations.
• Professional associations and industry organizations.
• Regulatory bodies such as the Food and Drug Organization (FDA), the European Commission, the European Food Safety Authority (EFSA) and Food Standards Australia New Zealand, among others.
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