As the economic uncertainties due to the COVID-19 pandemic are reflected in nearly every industry sector, globally, custom premix sales will soar as the pandemic has highlighted the need for a healthy life.
According to global tracker Future Market Insights (FMI), global custom premix market revenue will grow 6.37% year-over-year to reach US$8.8 billion in 2020. Market players are expected to capitalize on the ever-increasing consumer health focus to support a healthy lifestyle for employees and shoppers.
Additionally, e-commerce has seen a surge as consumers turn to online channels to shop – a surge that will continue after the COVID-19 pandemic.
Consumption of custom premixes will increase as consumers around the world see products and brands in a new light amid the COVID-19 pandemic. Major consumer trends such as “healthy living” are receiving considerable impetus as purchasing decisions increasingly revolve around the nutritional profile of products and services.
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Consumers of all age groups around the world are embracing healthier diets and placing more emphasis on ingredients, seeking functional ingredients and plant-based alternatives. The COVID-19 crisis is reshaping the custom premix market in real time, triggering long-term fundamental trends within weeks.
A recent Accenture study of more than 3,000 consumers in 15 countries across five continents found that 64% of individuals are placing increasing emphasis on reducing food waste, while around 50% are taking more health-conscious decisions when buying groceries and will continue to follow the same trend. go forward.
IMF says these evolving trends will continue past the COVID-19 lesson and remain key long-term priorities for manufacturers as well as consumers.
Custom Premixes Market – Competitive Intelligence
The global custom premix market is highly fragmented, characterized by several large scale as well as medium and small scale players. Faced with growing competition, players are investing in production developments and innovations to improve their market position. For example,
- Archer Daniels Midland (ADM) has rolled out a new flour blend, which includes premium all-purpose flours, organic flours and organic bread flours, with additional organic ground products.
- Karl Fazer introduced two different bakery products – Fazer Kinuskimarenkileivos and Fazer Suklaamarenkileivos – with the aim of expanding his product portfolio to meet the demands of the baking industry.
- Vitamin premix
- Mineral premix
- Premix of nucleotides
- Amino acid premix
- Multigrain premix
- Omega-3 fatty acids
- Bone health
- Heart health
- weight management
- Visual health
- Brain health and memory
- Food sector
- Early Childhood Nutrition / Baby Foods
- Medical Nutrition
- sports nutrition
- Energy drinks
- Milk and dairy products
- Bakery and confectionery products
- Cereals & Snacks
- Oils and fats
- Staple foods (flour, salt and rice)
- Food supplements
- Over-the-counter pharmaceutical drugs
- pet food
type of product
- Premix Blends / Direct to Consumer Solutions
- Drum-to-hopper formulations
- North America (USA and Canada)
- Latin America (Brazil and Mexico)
- Europe (Germany, United Kingdom, Russia, France and Italy)
- South Asia (India, Indonesia and Thailand)
- East Asia (China, Japan and South Korea)
- Oceania (Australia and New Zealand)
- Middle East and Africa (MEA) (Turkey, GCC countries and South Africa)
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Key Questions Answered by the Report
- How is the custom premix market expected to evolve in the next ten years?
The global custom premix market size will be around US$17.9 billion in 2030. The market revenue pool will grow by 6.37% year-on-year in 2020.
- What is the biggest market for custom premixes?
North America and Europe represent the largest markets for custom premixes globally, given growing health concerns and stringent regulatory standards for food fortification.
- How is the competition structured in the global custom premix market?
The global custom premix market is highly fragmented with the presence of various leading and emerging players including Archer Daniel Midland Company, AQC Chem Lab (P) Ltd and Barentz International BV.
- What type of product will remain in high demand in the global custom premix market?
Among the various product types, the demand for premix mixes will remain high over the coming decade in the global custom premix market. However, market players also rely on direct-to-consumer solutions to ensure relevant returns.
- Which application will remain highly profitable for players in the global Custom Premixes market?
Market players derive substantial revenue from the food sector. In the applications category, the use of custom premixes will remain significant in bakery and confectionery products and cereals and snacks.
Future Market Insights (FMI) is a leading provider of market information and advisory services, serving clients in over 150 countries. FMI is headquartered in Dubai, the financial capital of the world, and has delivery centers in the United States and India. FMI’s latest market research reports and industry analysis help businesses meet challenges and make critical decisions with confidence and clarity amidst fierce competition. Our custom and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of analysts led by FMI experts continuously monitor emerging trends and events across a wide range of industries to ensure our clients are prepared for the changing needs of their consumers.
Future Market Outlook
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