NEW YORK, Oct. 17, 2016 /PRNewswire/ -- The customized premixes market is projected to reach USD 1,691.2 million by 2022 at a CAGR of 5.50% from 2016. The market is driven by factors such as growing demand for functional & fortified foods, customized nature and specificity to individual customer requirements, and convenience in usage as a single ingredient over multiple ingredients. The high growth potential in emerging markets and untapped regions provides new opportunities for market players. High costs involved in R&D, and higher costs of fortified and enriched products are the major constraints for this market.
"The vitamins segment expected to be the largest and fastest growing in the customized premixes market by 2022"
The vitamins segment accounted for the largest market share and is projected to grow at the highest CAGR during the forecast period. The high growth of industrial consumption of vitamins is driving this market which can be largely attributed to their deficiency in everyday diets of consumers and also to the fact that they cannot be synthesized by the human body. It is followed by minerals, which is projected to remain the second-largest market by 2022.
"Beverage segment led the market with the largest share in 2015"
The beverage segment accounted for the largest share of the customized premixes market, by application, in 2015. The high growth of industrial consumption of vitamins is driving this market which can be largely attributed to their deficiency in everyday diets of consumers and also due to the fact that they cannot be synthesized by the human body.
"The powder form is projected to be the largest and fastest-growing segment by 2022"
Customized nutrient premixes are widely used in the powdered form, as they are largely considered to be more stable in the powdered form than in the liquid form. Further, convenient packaging reduces complexities in the supply chain processes, resulting in increased popularity of this form. Powdered premixes are largely across an extensive range of food applications, including low-fat milk powders, health drink powders, soup mixes, and desert mixes. Therefore, the powder form is the dominant and fastest-growing segment in the customized premixes market.
"North America led the market with the largest share in 2015"
North America was the largest customized premixes market in 2015. The growth in this market is driven by the increase in demand for health foods and functional food owing to the low level of exposure to essential nutrients caused by high consumption of processed foods due to their busy lifestyles, and growing consumer awareness about the health benefits of fortified food products in the region.
The breakdown of the primaries on the basis of company, designation, and region, conducted during the research study, is as follows:
- By Company type: Tier 1 – 40%, Tier 2 – 35%, and Tier 3 – 25%
- By Designation: C Level – 30%, Director Level – 38%, and Others – 32%
- By Region: North America – 42%, Europe – 26%, Asia-Pacific – 17%, and RoW – 15%
Key players include:
- Royal DSM N.V. (Netherlands)
- Glanbia plc (Ireland)
- Corbion N.V. (Netherlands)
- Chemische Fabrik Budenheim KG (Germany)
- Vitablend Netherlands B.V. (Netherlands)
The above-mentioned companies have collectively accounted for the largest portion of the customized premixes market in 2015. Other players also have a strong presence in this market. These players are as follows:
- Watson Inc. (U.S.)
- Stern Vitamin GmbH & Co. KG (Germany)
- The Wright Group (U.S.)
- DPO International Sdn. Bhd (Malaysia)
- Farbest Brands (U.S.)
The key players in the customized premixes market adopted expansion as their key growth strategy to increase their market share and profits. Expansions accounted for the highest percentage of the total developments, followed by acquisitions.
Reasons to buy this report:
From an insight perspective, this research report has focused on various levels of analyses—supply chain analysis and company profiles, which together comprise and discuss the basic views on the competitive landscape; emerging and high-growth segments of the global customized premixes market; high-growth regions; and market drivers, restraints, and opportunities.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on customized premixes offered by the top players in the global market
- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the customized premixes market
- Market Development: Comprehensive information about lucrative emerging markets—the report analyzes the markets for customized premixes across regions
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the global customized premixes market
Competitive Assessment: In-depth assessment of strategies, products, and manufacturing capabilities of the leading players in the customized premixes market
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