Customized Premixes Market Growth & Trends
The global customized premixes market size is expected to reach USD 2.28 billion by 2027, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 6.4% from 2020 to 2027. The market growth is primarily attributed to growing consumer inclination towards consuming nutritious products to overcome the existing health issues or ward off illness and maintain a healthy lifestyle.
Fortified foods possess medical properties that provide healing benefits apart from energy and essential nutrients. Additionally, various awareness campaigns run by government agencies, non-governmental organizations, and key market players have boosted consumer understanding pertaining to the nutritional benefits of the customized premixes, which, in turn, is projected to fuel the market growth. For instance, in November 2019, Koninklijke DSM N.V. launched a campaign in Chennai to increase awareness among the consumers about health issues caused by iron deficiency and promote the consumption of fortified foods.
Vitamins and minerals are the most widely consumed premixes globally as these nutrients are essential to maintain a healthy lifestyle. Vitamins such as vitamin A, C, and D as well as minerals such as potassium, calcium, selenium, and manganese are used in various applications, including food and beverages, dietary supplements, and nutrition products, due to their superior benefits, such as improved bone health, skin health, immune system, and energy metabolism.
The popularity of products positioned around improved functioning of the immune system and physical and mental well-being is rising worldwide. The demand for immunity boosting products increased at a significant rate amid the COVID-19 pandemic. Additionally, a growing emphasis on weight management is likely to fuel the demand for customized premixes.
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Customized Premixes Market Report
Customized Premixes Market Report Highlights
- By form, powder-based customized premixes accounted for a share of over 57.0% in terms of revenue in 2019 and are likely to witness substantial growth over the forecast owing to its superior benefits, including cost-effectiveness, convenient packaging, stability, and flexibility
- The vitamins-based nutrient segment accounted for more than 36.0% share of the global revenue in 2019. The rapidly expanding wellness industry and the rising demand for healthier and nutritional foods are likely to increase the consumption of vitamins in food and beverages application substantially
- The demand for products blended with multiple nutrients, such as vitamins, minerals, amino acids, and nucleotides, is increasing as they provide multiple health benefits and reduce the need to spend on each ingredient separately. Additionally, growing initiatives by the government to promote food fortification are fueling the demand for customized premixes, particularly in developing countries
- In August 2019, Prinova Group LLC established a new sales office in Sydney, Australia to supply nutritional premixes in the Australia and New Zealand markets from its China facility. The demand for nutritional premixes in the Australia and New Zealand markets is driven by the applications, including supplements, dairy, and sports nutrition
