SAN FRANCISCO, A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled “Customized Premixes – Global Market Trajectory & Analytics”. The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
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ABSTRACT-
Global Customized Premixes Market to Reach $2 Billion by 2026
Customized premix is defined as a customized nutritional blend in which every nutrient component is pre-scaled to enhance nutrient composition in food & beverages. Customized premixes feature a mix of vitamins, amino acids, minerals, botanicals, nutraceuticals, colors, flavors, and other ingredients in a customized way for the purpose of enriching or fortifying foods and beverages. Customized premixes are aimed at enriching or fortifying foods with the aim to improve nutritional value of the food product. These blends include right proportions of macro- and micro-nutrients designed to suit certain food products. Using customized nutrient premixes saves time and money, reduces wastage, simplifies and streamlines production.
Custom premixes enable the manufacturers to optimize their products by combining various ingredients into a single blend and offer products with maximum benefits. The customized premixes market is gaining popularity owing to the rising awareness of proper nutrition, and adhering to recommended dietary allowance for healthy living. In addition, the COVID-19 pandemic has provided a boost for health and functional foods, translating into demand for customized premixes. Owing to the widespread recognition of immunity boosting as a shield against the Covid-19 virus, demand for foods with immunity boosting claims garnered huge demand from consumers, resulting in increased demand for customized premixes. Moreover, new iterations with flavors, colors, and taster profiles are creating additional demand for customized premixes.
Amid the COVID-19 crisis, the global market for Customized Premixes estimated at US$1.6 Billion in the year 2022, is projected to reach a revised size of US$2 Billion by 2026, growing at a CAGR of 5.7% over the analysis period. Vitamins, one of the segments analyzed in the report, is projected to grow at a 6.3% CAGR to reach US$837 Million by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Minerals segment is readjusted to a revised 5.2% CAGR for the next 7-year period. This segment currently accounts for a 22.3% share of the global Customized Premixes market.
The U.S. Market is Estimated at $553.5 Million in 2022, While China is Forecast to Reach $249.4 Million by 2026
The Customized Premixes market in the U.S. is estimated at US$553.5 Million in the year 2022. The country currently accounts for a 33.61% share in the global market. China, the world’s second largest economy, is forecast to reach an estimated market size of US$249.4 Million in the year 2026 trailing a CAGR of 7.5% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.4% and 5.4% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 4.7% CAGR while Rest of European market (as defined in the study) will reach US$264.2 Million by the end the analysis period.
North America and Europe are large markets supported by the popularity of functional food products such as health drinks and fortified foods. Moreover, consumer awareness is also high in these markets will consumers willing to pay a premium for products with health benefits. In addition, fortification is mandatory for some products in North America. For instance, some states in the US mandate the fortification of rice. Fortification is voluntary within the European Union (EU), except for the mandates for fortification with select vitamins and minerals. In addition, the COVID-19 pandemic has provided a boost for health and functional foods, translating into demand for customized premixes. Owing to the widespread recognition of immunity boosting as a shield against the Covid-19 virus, demand for foods with immunity boosting claims garnered huge demand from consumers, resulting in increased demand for customized premixes.
Amino Acids Segment to Reach $335.1 Million by 2026
Amino acid premixes contain amino acids, and are designed for replacing proteins. Amino acid premixes generally find application in hypoallergenic food products that are targeted at people with protein allergy. In the global Amino Acids segment, USA, Canada, Japan, China and Europe will drive the 5.3% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$192.7 Million will reach a projected size of US$276.1 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$34 Million by the year 2026. More
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