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Customized Premixes Global Market Navigating Trends, Share Report, Growth Drivers, Market Size And Future Outlook 2024-2033 | Glanbia plc, Corbion N.V., Prinova Group LLC, BASF SE, Cargill Incorporated
Customized Premixes Market
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According to The Business Research Company's, The customized premixes market size has grown strongly in recent years. It will grow from $1.86 billion in 2023 to $2.01 billion in 2024 at a compound annual growth rate (CAGR) of 7.7%. The growth in the historic period can be attributed to increase in health awareness, change in dietary patterns, rise in disposable income, aging population, rise in nutrition deficiencies.
The customized premixes market size is expected to see strong growth in the next few years. It will grow to $2.76 billion in 2028 at a compound annual growth rate (CAGR) of 8.3%. The growth in the forecast period can be attributed to rising personalized nutrition, growth in functional foods and beverages, global population growth, rising e-commerce sector, favorable governmnet support. Major trends in the forecast period include clean label and natural ingredients, plant-based and vegan solutions, immunity-boosting nutrients, convenience and on-the-go products.
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Market Drivers and Trends:
The increasing demand for vitamin and mineral-enriched foods is expected to propel the growth of the customized premixes market going forward. Vitamin and mineral-enriched foods refer to foods that are loaded with minerals and vitamins, such as eggs, vegetables, milk, meat, and many more. Vitamins and minerals mixture help in customized premixes based on their product requirements and to fulfill nutritional requirements and overcome nutrient deficiencies. For instance, in February 2022, according to the report published by Agriculture and Agri-Food Canada, a department of the Government of Canada, the retail sales value of fortified or functional foods and beverages in the United States increased to $68.9 billion in 2021, compared to $67.9 billion in 2020. In addition, they are projected to reach $79.1 billion in 2025, up 3.5% compared to 2021. Therefore, the increasing demand for vitamin and mineral-enriched foods is driving the growth of the customized premixes market.
Major companies operating in the customized premix market are focusing on launching new product innovation units such as Blendamix to better meet the needs of their existing consumers. Blendamix is a business units to oversee customized powder premix service, which ranges from pharma applications to on-demand powdered ingredient mixes for food makers. For instance, in November 2021, Minafin Group, a Belgium-based manufacturing company of chemicals and customized premixes, launched Blendamix, primarily interested in making intravenous and intestinal nutrition products. Blendamix's strength is its 750-ton/year manufacturing capacity for high-quality customized powder premixes, which permits it to provide manufacturers with a broad variety of batch weights (250kg to 2000kg) of very homogeneous ready-to-use blends manufactured under sanitary circumstances. The Blendamix customized powder premix service is designed to assist food and pharmaceutical businesses aiming to increase capacity while also simplifying the operations and supply chain to maximize market potential.
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Major Key Players of the Market:
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
Customized Premixes Market 2024 Key Insights:
• The customized premixes market size is expected to see strong growth in the next few years. It will grow to $2.76 billion in 2028 at a compound annual growth rate (CAGR) of 8.3%.
• Elevated Demand For Vitamin And Mineral-Enriched Foods Boosts The Customized Premixes Market
• Market Expansion Through Specialized Business Units Blendamix's Tailored Powder Premix Service In Food And Pharma Sectors
• North America was the largest region in the customized premixes market in 2023
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