Food Fortifying Agents Market Outlook 2031
The global food fortifying agents market size was valued at USD 58.15 Billion in 2022 and is likely to reach USD 284.65 Billion by 2031, expanding at a CAGR of 19.3% during the forecast period, 2023–2031. The growth of the market is attributed to consumers' increased health consciousness and maladies caused due to the vitamin deficiencies.
Food fortifying agents are used to boost the nutrients in dietary meals and cereals through addition of micronutrients to these food items. Commercial fortification, bio-fortification, and home fortification are the three types of food fortification processes available in the market. Several manufacturers and governments are working together to decrease nutritional deficiencies among their population as part of public health policy.
Food fortification has been identified by the Food and Agricultural Organization (FAO) and the World Health Organization (WHO) as one of the important measures for reducing widespread malnutrition, particularly in developing countries. BASF SE launched a tailored nutrition solution for cardiovascular health in March 2018 in order to lower the health risks associated with chronic illnesses.
However, as per studies, nutrients must be ingested in an effective yet safe level and for healthy life, a calculated amount of nutrient should be ingested every day.
The market for food fortifying chemicals is gradually reaching to its pre-COVID-19 operation levels, with a strong support for the growth from various factors, owing to most emerging nations' V-shaped recovery. Vitamin fortification of foods has been considered to be a useful means for addressing nutritional deficits in the general population.
Food Fortifying Agents Market Trends, Drivers, Restraints, and Opportunities
- Wide involvement of government agencies and their encouraging policies to increase nutritious foods among their people is a key factor propelling the market.
- Growing number of the elderly population globally has boosted the need for fortified foods due to numerous medical conditions such as adult malnutrition is anticipated to boost the market.
- Risk of overconsumption of a certain nutrient and its harmful health consequences are expected to hinder the market growth during the forecast period.
- Significant level of investment by key manufacture to develop highly nutritious fortified food products presents a key aspect for the market expansion.
- Entry of regular debuts of newly manufacturers providing products such as modified vitamin blends foods fortifying agents is creating lucrative opportunities for the market.
Scope of The Food Fortifying Agents Market Report
The report on the global food fortifying agents market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Food Fortifying Agents Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Applications (Dairy & Dairy-based Products, Cereals & Cereal-based Products, Fats & Oils, Beverages, Infant Formula, Dietary Supplements, and Others), and Types (Lipids, Prebiotics & Probiotics, Carbohydrates, Minerals, Proteins & Amino Acids, Vitamins, and Others)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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DuPont; BASF SE; Advanced Organic Materials S.A.; Cargill Incorporated; and Archer Daniels Midland Company
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Food Fortifying Agents Market Segment Insights
Dietary Supplements segment to expand at a considerable CAGR
On the basis of applications, the food fortifying agents market is segmented into dairy & dairy-based products, cereals & cereal-based products, fats & oils, beverages, infant formula, dietary supplements, and others. The dietary supplements segment is projected to expand at a considerable CAGR during the forecast period owing to wide consumption of supplement dietaries among a large number of the global population due its health advantages.
It is primarily focused towards the ageing population and increased interest in personal fitness. On the other hand, the cereals & cereal-based products segment is anticipated to account for a major market share during the forecast period due to the rising demand for high-quality food products and shifting health trends towards the consumption of these products.
Vitamins segment to hold a significant share of the market
In terms of types, the market is divided into lipids, prebiotics & probiotics, carbohydrates, minerals, proteins & amino acids, vitamins, and others. The vitamins segment is expected to hold a significant share of the market during the forecast period due to wide prevalence of illnesses caused by vitamin deficiencies such as osteoporosis and rickets, as well as rising healthcare costs, and rising ageing population.
However, the prebiotics & probiotics segment accounts for a significant market share as the increasing needs for vital nutrients among patients suffering from chronic illnesses.
North America is anticipated to constitute a key market share
In terms of regions, the food fortifying agents market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is expected to constitute a key share of the market during the projected period owing to urbanized lifestyle of the population and expansion of key global companies in the region.
However, the market of Asia Pacific is anticipated to expand at a rapid pace during the forecast period due to disposable income of a large number of the population and rising demand for nutritious foods. A number of experiments in China have been carried out to determine the efficacy, effectiveness, and practicality of fortifying soy sauce with iron.
Segments
The global food fortifying agents market has been segmented on the basis of
Applications
- Dairy & Dairy-based Products
- Cereals & Cereal-based Products
- Fats & Oils
- Beverages
- Infant Formula
- Dietary Supplements
- Others
Types
- Lipids
- Prebiotics & Probiotics
- Carbohydrates
- Minerals
- Proteins & Amino Acids
- Vitamins
- Others
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
Competitive Landscape
Key players competing in the global food fortifying agents market are DuPont; BASF SE; Advanced Organic Materials S.A.; Cargill Incorporated; and Archer Daniels Midland Company.
The worldwide market for food fortifying agents is diversified due to the existence of big regional and local companies in several countries. Acquisitions, mergers, expansions, and collaborations, as well as introduction of new products are some key strategies focused by major firms to improve brand awareness among customers.
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