While economic uncertainties due to COVID-19 pandemic is reflected in almost every industrial sector, globally, sales of customized premixes will skyrocket, as the pandemic has highlighted the need for healthy living.
According to Future Market Insights (FMI) global tracker, worldwide revenue of customized premix market will rise 6.37% year over year to US$ 8.8 Bn in 2020. Market players must capitalize on consumers’ ever-increasing focus on health to support healthy lifestyle for employees and shoppers.
Moreover, e-commerce has witnessed a surge as consumers are turning to online channels for grocery shopping – a rise that will be sustained post-COVID-19 pandemic.
Consumption of customized premixes will rise as consumers across the globe are viewing products and brands through a new lens amid the COVID-19 pandemic. Mega consumer trends such as ‘Healthy lifestyle’ are receiving huge spur as purchase decisions are increasingly hovering around nutritional profile of products and services.
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Consumers of all age groups, worldwide, are embracing healthier dietary regimens and putting more emphasis on ingredients, seeking functional ingredients and plant-sourced alternatives. The COVID-19 crisis is redefining customized premix market in real time, triggering long-term fundamental trends within few weeks.
Recent research by Accenture of over 3,000 consumers in 15 countries across five continents has revealed that 64% of individuals are increasingly emphasizing on reducing food wastage, while about 50% are making more health-centric decisions during grocery purchasing and will continue to follow the same going forward.
FMI indicates that these evolving trends will endure post COVID-19 lesson and will remain key long-term priorities among manufacturers as well as consumers.
Customized Premix Market – Competitive Intelligence
The global customized premix market is highly fragmented, characterized by several large-scale as well as medium- and small-scale players. Given rising competition, players are investing in production developments and innovations in order to improve their market position. For instance,
- Archer Daniels Midland (ADM) Company has rolled out new assembly of flours, which all-purpose flours, organic flours, and organic premium bread flours, with additional organic milled products.
- Karl Fazer has introduced two different bakery products – Fazer Kinuskimarenkileivos and Fazer Suklaamarenkileivos – in an effort to expand its product portfolio to meet requirements in bakery industry.
Key Segment
Ingredient Type
- Vitamin Premix
- Mineral Premix
- Nucleotides Premix
- Amino Acids Premix
- Enzymes
- Coccidiostats
- Probiotics
- Prebiotics
- Multigrain Premix
- Omega 3 Fatty Acids
- Excipients
- Gums
- Botanicals
- Sweeteners
- Flavours
- Proteins
- Color
Form
- Powder
- Liquid
Function
- Bone Health
- Immunity
- Digestion
- Energy
- Heart Health
- Weight Management
- Vision Health
- Brain Health & Memory
- Resistance
- Others
Application
- Food Sector
- Early Life Nutrition/ Baby Food
- Medical Nutrition
- Sports Nutrition
- Energy Drinks
- Milk and Milk products
- Bakery and Confectionery Products
- Cereals & Snacks
- Oils and fats
- Staple foods (Flour, Salt and Rice)
- Dietary Supplements
- Pharma OTC Drugs
- Pet Food
Product Type
- Premix blends/ Direct-to-consumer Solutions
- Drum-to-hopper Formulations
Regional Outlook
- North America (US, and Canada)
- Latin America (Brazil, and Mexico)
- Europe (Germany, UK, Russia, France, and Italy)
- South Asia (India, Indonesia, and Thailand)
- East Asia (China, Japan, and South Korea)
- Oceania (Australia and New Zealand)
- Middle East & Africa (MEA) (Turkey, GCC Countries, and South Africa)
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Key Questions Answered in the Report
- How the market for customized premix is expected to shape up in coming ten years?
The global customized premix market size will value around US$ 17.9 Bn in 2030. Market revenue pool will expand 6.37% year over year in 2020.
- Which is the largest market for customized premixes?
North America and Europe represent the largest markets for customized premixes, globally, given heightening health concerns as well as strict regulatory norms regarding food fortification.
- How the competition is structured in global customized premix market?
The global customized premix market is highly fragmented with presence of various leading and emerging players including, Archer Daniel Midland Company, AQC Chem Lab (P) Ltd, and Barentz International B.V..
- Which product type will remain high in demand in global customized premix market?
Among various product types, demand for premix blends will remain high over decade ahead in global customized premix market. However, market players are also tapping into direct-to-consumer solutions to ensure relevant returns.
- Which application will remain highly profitable for players in global customized premix market?
Market players are reaping substantial revenue from food sector. Under the application category, usage of customized premixes will remain prominent in bakery and confectionery products and cereals & snacks.
About FMI:
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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