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What is the Customized Premixes Market Size in 2024 and its Growth Rate?
The customized premixes market size is growing at a strong pace, set to escalate from $1.86 billion in 2023 to $2.01 billion in 2024, with a compound annual growth rate CAGR of 7.7%. The surge in the market during the historic period can be attributed to rising health awareness, changes in dietary habits, an increase in disposable income, an aging global population, and the prevalence of nutrition deficiencies.
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Customized Premixes Market: What is the Projected Growth Forecast?
The size of the customized premixes market is projected to continue its robust growth, forecast to reach $2.76 billion by 2028, with a compound annual growth rate CAGR of 8.3%. The market during the forecast period is likely to be driven by factors such as the need for personalized nutrition, growth in functional foods and beverages, global population expansion, the rising e-commerce sector, and favorable government support. Major market trends in the forecast period include demand for products with clean labels and natural ingredients, plant-based and vegan solutions, immunity-boosting nutrients, as well as convenience, and on-the-go products.
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Who are the Key Industry Players in the Customized Premixes Market?
Significant industry players contributing to the growth of the customized premixes market include Archer Daniel Midland Company, Koninklijke DSM N.V., Vitablend Netherland B.V., Stern Vitamin GmbH & Co. Kg, Wright Enrichment Inc., Glanbia plc, Corbion N.V., Prinova Group LLC, Jubilant Life Sciences Limited, Provimi Animal Nutrition India Pvt. Ltd, Utrix SAL, ADM Animal Nutrition Co., Pristine Organics Private Limited, BI Nutraceuticals, Farbest Brands Corp., Piramal Enterprises Limited., BASF SE, Cargill Incorporated, Archer Daniels Midland Company, Koninklijke FrieslandCampina N.V., Glanbia Nutritionals Plc, Nutreco N.V., Kemin Industries Inc., Watson Inc., Hexagon Nutrition Pvt. Ltd., Barentz International B.V., Stern Ingredients India Pvt. Ltd., Prinova Europe Limited, Farbest-Tallman Foods Corporation.
What are the Emerging Trends in the Customized Premixes Market?
Major brands operating in the customized premix market are increasingly focusing on launching innovative product units such as Blendamix to better cater to their consumer base. Blendamix is a specialized business unit overseeing the creation of customized powder premix services, which range from pharma applications to on-demand powdered ingredient mixes for food manufacturers. For instance, in November 2021, Minafin Group, a Belgium-based manufacturing company of chemicals and customized premixes, launched Blendamix, which is primarily invested in creating intravenous and intestinal nutrition products. Blendamix boasts a 750-ton/year manufacturing capacity for high-quality customized powder premixes which allows it to produce a broad range of batch weights of homogeneous ready-to-use blends in a sanitary manner. This serves to aid food and pharmaceutical businesses aiming to upscale their capacity while maximizing the simplification of operations and supply chains to boost market potential.
How is the Customized Premixes Market Segmented?
The customized premixes market covered in this report is segmented as follows:
1 By Nutrient: Vitamins, Minerals, Amino Acids, Nucleotides, Nutraceuticals, Other Nutrients
2 By Form: Powder, Liquid
3 By Application: Beverages, Dairy, Cereals, Bakery and Confectionery, Nutrition Products, Dietary Supplements
Regional Insights: Dominance of North America and Fast-Paced Growth in Asia-Pacific
In 2023, North America emerged as the largest region in the customized premixes market and Asia-Pacific is projected to be the fastest-growing region during the forecast period. The report covers various regions across the globe including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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