Assessing the COVID-19 Impact: Demand for Customized Premixes Decelerates Due to Altered Production and Logistical Challenges - Future Market Insights
Tuesday, May 19, 2020 10:30 AM
Demand for customized premixes is rising during the global pandemic driven by the need for high-nutrition foods for bolstering immune responses. Manufacturers leverage consumer habits for wider scope of end products.
DUBAI, UAE / ACCESSWIRE / May 19, 2020 / The global COVID-19 pandemic has resulted in consumers choosing healthier food choices, with focus on mitigating deficiencies of essential minerals and vitamins. In addition, retailers are increasingly taking measures to prevent hoarding, which will aid in maintaining adequate inventories. On the other hand, the pandemic has also resulted in substantial disruptions in terms of procuring essential raw materials, which will limit market growth, by hindering production abilities during this period as projected by a new study of Future Market Insights (FMI). The global customized premixes market is anticipated to witness healthy growth on the back of strong demand for functional foods and surpass the projected revenue of US$ 2 Bn through 2030.
"Currently, customized premixes manufacturers are working on optimizing their resource and supply chain networks in a bid to minimize wastage. Key strategies such as collaborations with local suppliers to maintain business amidst ongoing COVID-19 crisis will allow growth in the market in the years ahead," says the FMI study.
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Customized Premixes Market - Key Takeaways
- Powdered customized premixes will continue to remain highly sought-after owing to easier packaging, logistics, and a wide variety of food applications.
- Vitamin and amino acid-based premixes will retain their lead over, driven by the demand from the health and fitness sector.
- Food & beverages sector applications are anticipated to experience a boom during the forecast period, while health supplement applications are rapidly gaining ground.
- North America is a leading regional market driven by high consumption of processed food and the resultant deficiencies of essential nutrients. Asia Pacific offers a number of remunerative opportunities through the forecast period.
Customized Premixes Market - Key Driving Factors
- Growing demand for health supplements and functional foods have resulted in development of healthy customized premixes variants, aiding market growth.
- Demand for easier production processes of processed foods with single mixes instead of multiple ingredients, is key to the adoption of customized premixes.
- New remunerative opportunities for customized premixes have arisen from applications in ready to eat and convenience foods.
- Growing investments in the food and beverage market towards research and development activities will create new opportunities.
Customized Premixes Market - Key Restraints
- Lack of scientific consensus on the benefits of consuming customized premixes remain a key obstacle for market players.
- Misleading claims about product ingredients and associated applications by manufacturers restrict adoption of conventional dressings in the market.
COVID-19 Impact on Customized Premixes Market
Hectic lifestyles of consumers have made a major impact on eating habits, often resulting in nutritional deficiencies, raising the risk of disease. Customized premixes have become a viable substitute for the nutritional demands, supporting market growth.
However, social distancing and nationwide lockdowns have caused the closure of production facilities, which will hamper market growth. Also, retailers around the world are taking measures to prevent panic buying, aiding adequate supplies for the coming months. Manufacturers are seeking guidance and monetary assistance from governments to mitigate losses during this time.
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Major players are seeking to leverage local collaborations to support the changing consumer lifestyles and incomes. Further, manufacturers are seeking to diversify products for a wider range of consumer demographics. Farbest Brands, Glanbia plc, The Wright Group, Vitablend, Watson, Cargill, Corbion, Arla, DSM, and Stern Vitamins GmbH are some of the leading customized premixes producers in the global market.
About the Report
This study offers readers a comprehensive market forecast of the customized premixes market. Global, regional and country-level analysis of the latest industry trends impacting the customized premixes market is covered in this Future Market Insight (FMI) study. The report offers compelling insights on customized premixes market on the basis of nutrient (vitamins, minerals, amino acids, nutraceuticals, and nucleotides), application (beverages, dairy, cereals, bakery & confectionary, nutrition products, and dietary supplements), form (powder and liquid), and functionality (bone health, skin health, energy, immunity, and digestion) across six regions (North America, Latin America, Europe, Asia, Oceania, and MEA).
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SOURCE: Future Market Insights