The food fortifying market is expected to grow globally at a phenomenal CAGR over the forecast period. It is a vertical market catering to various downstream industries – food, beverages, and pharmaceuticals. Key drivers for this market are growing awareness about the health benefits of fortified foods, rising incidence of chronic diseases like cancer, diabetes, blood pressure, Alzheimer’s, vitamin deficiency diseases like osteoporosis and rickets, focus on preventive healthcare, increased demand for fortified food, and dietary supplements diversifying into different markets. As a result of the growing applications of fortifying agents, government aids and initiatives, and demand in developing nations, this market is projected to have a linear growth in foreseeable future.
The global rise in
geriatric population is also driving this market exponentially. On the other
hand, steep costs of fortified foods; compared to non-fortified foods, high
R&D costs for dietary supplements, high costs of raw materials, and
marketing strategies like multi-page labelling are restraining market growth.
Market ecosystem is comprised of raw material suppliers, regulatory
authorities, distributors, and the end user industries. It is a fragmented
market as local players also compete with the established giants on a regional
level. The different downstream industry verticals are spurring market growth.
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Fortified foods are foods
having additional minerals and vitamins, irrespective of whether nutritional
value is lost during processing. They have gradually replaced supplement pills
that were prevalent previously. Bio-fortification increases the nutrient value
of crops. Synthetic biology is another method of food fortification that
implies adding probiotic bacteria to foods. Common cooking foods like rice,
oil, and flour are fortified on a commercial level, while vitamin D drops can
be used on a domestic level.
The food fortifying market
is segmented on the basis of application, type and the geographical region. The
segments based on application are beverages, fats & oils, dairy &
dairy-based products, cereals & cereal-based products, dietary supplements,
infant formula (contains fortified calcium & phosphorus), bulk food items,
confectionary and bakery products, animal feed, pet food, and tea. The segments
based on type of fortifying agents are carbohydrates, proteins & amino
acids, lipids, vitamins, minerals, prebiotics, probiotics, and others. The
geographical regions for the food fortifying market are Asia Pacific, Europe,
North America, and Rest of the World (RoW).
Bulk food items like rice,
whole grain, and flour have so far dominated the market, followed by fats &
oils. This can be attributed to their consumption on a larger amount. Dietary
supplements segment is projected to reach the high-water mark in terms of CAGR
in the forecast period. Prebiotics and probiotics are expected to be in great
demand in the foreseeable future. Meanwhile, minerals like iron salts, and
vitamins like Vitamin B complex and Vitamin C have the largest market share in
terms of volume and value respectively.
This is due to the
clinically evinced benefits of their assistance in overall health improvement.
North America has so far led the market, with US on the forefront. This can be
attributed to the greater spending capacity of consumer base and the prevalence
of latest products. Asia-Pacific region is expected to grow exponentially over
the forecast period due to rising awareness about health benefits of fortified
foods, and prevalence of chronic diseases as well as diseases caused by vitamin
& mineral deficiencies.
Key players in the food
fortifying market are Ingredion, Tate & Layle, Royal DSM, CHR HAnsing
Holdings AS, BASF SE, Cargill Inc, Arla Foods, Nestle SA, Archer Daniels
Midland Company, EI Du Pont De Nemours and Company, The Procter & Gamble
Company, General Mills Inc, Phillip Morris Companies, HJ Heinz Company, Land O’
Lake, Kellogg Company, Hain Food Group.
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