Latin America Customized Premix Market was worth USD 185.61 million in 2022 and estimated to be growing at a CAGR of 5.48%, to reach USD 242.36 million by 2028. Latin America is a highly industrial region for an evolving market like customized premix market.
Usually, premixes are supposed to contain only vitamins and minerals. Manufacturers are now formulating premixes to contain functional ingredients such as proteins, amino acids, fibers, gums and botanicals. Formulation of the products is done so that maximum benefits can be derived from combining multiple ingredients into a single blend.
Growth is mainly driven by the increasing purchasing power of households. Growing disposable incomes and consumer acceptance of health and wellness trends are among the factors pushing the market growth. Certain aspects such as need to transform packaging design to appeal consumers and distinguish their products from other products in the saturated product class have become essential for a brand’s long term attainment. Lack of awareness among consumers regarding the benefits of customized premix is hindering the market growth.
Latin America market for Customized Premix is segmented by nutrient into Vitamins, Minerals, Amino Acids, Nutraceuticals and Nucleotides. On the basis of form the market is divided into Powder and Liquid. Based on application customized premix market is bifurcated among Beverages, Dairy Products, Cereals, Bakery & Confectionery, Nutritional Products and Dietary Supplements. By functionality the market is segregated into Bone Health, Skin Health, Energy, Immunity and Digestion. The vitamins segment is having the highest market value and is expected to continue to register a considerably high CAGR over the forecast period. Food & beverages segment is projected to continue its dominance over the market in terms of application.
Geographically the Latin America Customized Premix Market is segmented into Brazil, Mexico, Argentina, Chile and Rest of Latin America. Mexico is the dominating market in Latin America region and is predicted to continue its dominance over the forecast period.
Key Players in the Market:
Major Key Players in the Latin America Customized Premix Market are
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