Latin America Customized Premix Market size was worth USD 0.16 billion in 2024 and estimated to be growing at a CAGR of 8.06%, to reach USD 0.30 billion by 2032. Latin America is a highly industrial region for an evolving market like customized premix market.
Usually, premixes are supposed to contain only vitamins and minerals. Manufacturers are now formulating premixes to contain functional ingredients such as proteins, amino acids, fibers, gums and botanicals. Formulation of the products is done so that maximum benefits can be derived from combining multiple ingredients into a single blend.
Growth is mainly driven by the increasing purchasing power of households. Growing disposable incomes and consumer acceptance of health and wellness trends are among the factors pushing the market growth. Certain aspects such as need to transform packaging design to appeal consumers and distinguish their products from other products in the saturated product class have become essential for a brand’s long term attainment.
Lack of awareness among consumers regarding the benefits of customized premix is hindering the market growth.
The vitamins segment is having the highest market value and is expected to continue to register a considerably high CAGR over the forecast period.
Food & beverages segment is projected to continue its dominance over the market in terms of application.
Mexico is the dominating market in Latin America region and is predicted to continue its dominance over the forecast period.
Major Key Players in the Latin America Customized Premix Market are Prinova Group LLC, SternVitamin GmbH & Co. KG, Koninklijke DSM N.V, Jubilant Life Sciences, Archer Daniels Midland Company, Fenchem, Glanbia plc, B&H Biotechnology Co. Ltd, Barentz, Farbest Brands, Lycored, Hexagon Nutrition Pvt. Ltd, Archer Daniels Midland Company, and WATSON-INC
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