Global Customized Premixes Market - 2021-2028
Global Customized Premixes Overview
The global customized premixes size was worth US$ XX million in 2020 and is estimated to reach US$ XX million by 2028, growing at a CAGR of XX% during the forecast period (2021-2028).
Customized premixes are defined as dry or liquid custom blends of a wide array of nutrients, such as minerals, vitamins, nutraceuticals, amino acids, nucleotides and fibers. Customized premixes with desired vitamins and minerals are blended in several single, efficient, homogenous forms require for food and beverages industries. Customized premixes are substantially used in personal care, cosmetics, nutraceuticals, pharmaceuticals and others.
Customized Premixes Market Dynamics
The global customized premixes are driven by rising demand for the formation of various animal feed and personal care products with increasing consumer spending on healthcare and pharmaceutical industry. Also, increasing demand for fortified foods, nutritional supplements, and food products in food industry has propelled the growth of the customized premixes market. Customized premixes have several health benefits for highly skilled nutritionists, athletes, & industry professionals globally.
Rising nutritional supplements and fortification products for nutrition in food industry have products with maximum demand by the urban populations globally
The market is driven by a surge in demand for nutraceutical products and dietary supplements due to the growing urban population and rising spending on healthcare globally. For instance, as per the Council for Responsible Nutrition Organization report, in U.S., the dietary supplement industry was valued at US$ 122 billion in 2016 and is increasing continuously due to growing consumer awareness. Customized premixes consist of nutritional products with several healthy vitamins and minerals used in the food and beverages industry.
Growing demand for animal feeds and personal care products with growing consumer's spending on healthcare
Growing demand for animal feed to enhance the nutritional value of the seeds in animals is impacting customized premix market positively. As per the IFEEDER report in 2016, around 236.3 million tons of animal feeds were produced for nine animal species, including 74.7 million tons to cattle on feed, 56.3 million tons to broilers, and 46.3 million tons to hogs globally. It created a massive demand for the customized premixes market.
Strict rules and regulations and requirement of FDA approvals for the sale and production of customized premixes may hamper the growth of the market
Strengthening rules and regulations for the production and sale of customized premixes-based dietary supplements products globally may hamper the market's growth. Manufacturers and distributors of dietary supplements and dietary ingredients need FDA approvals and should avoid false marketing of the products, which can be adulterated or misbranded. The manufacturers are responsible for evaluating the safety and labeling of supplementary products before marketing and ensuring specific FDA regulations. U.S. FDA has right to take action against any adulterated or misbranded dietary supplement product before and after it reaches the market.
COVID-19 Impact Analysis
The global customized premixes market declined due to the Covid-19 pandemic, as several leading manufacturing industries were closed. Several countries have restricted production activities during the covid-19 pandemic. Further, the demand for milk-based sweets declined during lockdown, which reduced demand for milk in commercial application and eventually decreased customized premix demand due to lower animal feed consumption for cattle. Similarly, demand for poultry and goat meat also declined during the pandemic period, reducing animal feed demand globally. Further increasing demand for the immunity booster products during the covid-19 pandemic has propelled the market growth.
Customized Premixes Market Segment Analysis
The global customized premixes are segmented on type, product, category, function, application and region.
Rising demand for the vitamins with surge in the global sale of cosmetics and personal care products that contains necessary vitamins have propelled the customized premixes market
The global customized premixes are segmented into vitamins, nucleotides, minerals, amino acids, nutraceuticals, and others in terms of product. Among these, vitamins have the highest market share in 2020, owing to rising demand with growing healthcare spending globally. Also, vitamins help to improve health and complete the human nutritional demand. New products launches and development due to rising demand for skincare and hair care products.
Depending upon the type, the global customized premixes market is segmented into original and blended/fortified. The blended/fortified segment had the highest market share in 2020, primarily due to rising demand for commercial animal feed. For instance, as per the International Feed Industry Federation Organization, globally, the annual turnover of commercial feed manufacturing was valued at over US$ 400 billion. It created a massive demand for the blended/fortified segmental growth in the animal feed industry.
Increasing eco-friendly and natural personal care products demand with surge in consumer spending on healthcare have propelled clean labeled ingredient segmental growth for this market
Based on the product, the global customized premixes market is segmented into clean labeled ingredients and conventional. Among these, clean labeled ingredient segment had the highest market share in 2020; this is primarily due to rising strict government rules and regulations regarding the labeling of personal care products. Also, rising demand and launching of personal care products containing customized premixes have propelled segmental growth of clean labeled ingredients. For instance, on 26th June 2020, Colorsmith launched personalized at-home hair color for men with options for gray coverage. The company Colorsmith's made men's hair colors which professional licensed colorist crafts. It has clean labeled ingredients.
Rising prevalence of the Covid-19 infection cases globally have propelled the segmental immunity growth globally for the customized premixes market
In terms of function, the global customized premixes market is segmented into immunity, digestion, skin health, energy, bone health, weight management and others. The immunity segment had the highest market share in 2020, primarily due to increasing demand for the immunity booster products due to prevalence of the Covid-19 pandemic have propelled the customized premixes market. For instance, as of 4th January 2021, the global Covid-19 infection cases reached more than 85.89 million, causing 1.85 million deaths. It created a massive demand for the immunity segment to prevent the ill effects of the coronavirus during the covid-19 pandemic in 2020.
Increasing health awareness and consumer spending on healthcare products have propelled the demand for the dietary supplements segmental growth for the market
The global customized premixes market is segmented into dietary supplements, animal feed, pharmaceuticals, food products, beverages, and others based on the application. The dietary supplements segment had the highest market share in 2020, primarily due to rising consumer spending on healthcare with growing health awareness among people globally.
Customized Premixes Market Geographical Analysis
Asia-Pacific region holds the largest market share global customized premixes Market
Asia-Pacific region is dominating the global customized premixes market accounted for the largest market share in 2020, due to presence of several manufacturing companies, growing industrialization and rising investment by the leading players in this region, followed by North America and Europe. Further increasing government and private companies related to food and beverages investment in the Asia-Pacific region for several projects have propelled the demand. For instance, on 21st May 2020, Nestle, a Swiss food processing company, invested more than US$ 103 million in Asia-Pacific region in China country for the strengthening of its footprint input food and plant-based food factories.
Similarly, North America is also growing at fastest speed owing to presence of the pharmaceutical and personal care industry with growing consumer spending on healthcare. For instance, as per the personal care council organization in 2020, the United States personal care and cosmetics products market was valued at around US$ 48 billion due to growing consumer spending. It created a massive demand for the customized premixes market in this region.
Customized Premixes Market Competitive Landscape
The customized premixes market is moderately competitive with the presence of local as well as global companies. Some of the key players which are contributing to the growth of the market include DSM, Prinova Group LLC, Puratos, Buddy Nutrition, SternVitamin GmbH & Co. KG, Wright Enrichment Inc, Fenchem, Royal Agrifirm Group, Pristinepremixes, Jubilant life sciences Pvt Ltd, Provimi Animal Nutrition India Pvt. Ltd., Vitablend, Corbion, DPO International, Budenheim, Hexagon Nutrition Pvt. Ltd, Farbest Brands, Oy Karl Fazer Ab., Glanbia plc, ADM and among others.
The major players are adopting several growth strategies such as product launches, acquisitions and collaborations, contributing to the growth of the Customized Premixes Market globally. For instance, on 6th August 2020, Cargill, one of the leading refined oils, food ingredients, grain and oilseeds, as well as customized premixes manufacturer, has invested around US$ 15 million in India for a new bio-industrial plant. It created a massive demand for the customized premixes market.
Overview: Hexagon Nutrition was founded in 1991 and headquartered in Mumbai, Maharashtra. The company supplies its nutritional products such as micronutrient powders to universities, governments and NGOs. The company operates in 3 segments, including micronutrient premixes with custom blends of vitamins and nutrients required in food products, clinical nutrition products and therapeutic products.
Product Portfolio: The company has a product portfolio of electrical coating insulation that includes: custom blends of vitamins and nutrients, micronutrients premixes etc.
Key Development: For instance, on 17th July 2020, Hexagon Nutrition signed an agreement with Nutriset Group to manufacture and distribute nutritional solutions designed by Nutriset
The global customized premixes market report would provide an access to an approx. 92 market data table, 88 figures and 180 pages.
Target Audience 2022
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