Food fortifying agents Market Research, Revenue Analysis, Company Revenue Share, Global Forecast Report by Market Research Future (MRFR)
Market Insights
Fortification of food has become an increasing trend due to several vital factors. Market Research Future has recorded and analyzed these factors in its latest report on the global food fortifying agents market for the forecast period from 2022 to 2030. Food fortification is a process by which various nutrients essential to good health are added to food products in an effort to increase the overall nutritional value of the food product. Various applications for food fortifying agents exist.
Food manufacturers are looking to increase demand for their product use food fortifying agents to enhance the final nutritional content. A prime example of this can be found in cereal and other breakfast products for children. Flavored cereal often has a bad reputation for being too sugary. However, manufacturers are increasingly adding various micronutrients to their products to increase demand. Moreover, government support for the same in various raw ingredients to help reduce deficiencies and increased the overall health of the population under the public health policy also drives the growth of the food fortifying agents market. For example, the UK government has backed up the recommendation of the NHS to fortify flour with folic acid in an effort to reduce birth defects and improve the health of expectant mothers. Increasing health consciousness combined with rigorous schedules has increased demand for convenient food, which in turn has resulted in the increasing use of food fortifying agents as the demand for functional foods has grown and is projected to continue on its growth trajectory during the assessment period. An increasing number of deficiencies among the global population as well as the demand for healthier convenient foods has prompted F&B manufacturers to use food fortifying agents for product differentiation and to add value to their product offerings.
These factors among others are expected to drive the market and promote various new opportunities that are likely to crop up during the forecast period.
Market Segmentation
The global food fortifying agents market has been segmented in MRFR's report on the basis of various vital market components which include type, application, and region. Types of food fortifying agents include vitamins, lipids, minerals, proteins & amino acids, carbohydrates, and others. The vitamins segment is expected to lead the market due to the high occurrence of vitamin deficiencies and their resulting diseases.
Applications of food fortifying agents have been segmented into pulses & cereals, dairy, beverages, fats & oils, dietary supplements, and infant formula. Among these dietary supplements dominate market growth as the increasing health consciousness among consumers has increased the demand for dietary supplements.
Regional Analysis
Regions covered in the global Food Fortifying Agents Market Report include Europe, Asia Pacific, North America, and the Rest of the World. Among these key regions, the North American food fortifying agents market has captured the largest share, establishing it as a global leader in the market. The increasing health consciousness in the region due to the high obesity rates in the region as well as the high prevalence of various diseases caused by deficiencies have been found to be responsible for the increasing demand for food fortifying agents in North America.
Meanwhile, the Asia Pacific is expected to grow at a substantial growth rate due to the increasing disposable income in the region as well as the presence of large population which in increasingly aware and demanding of fortified food products. Rapid urbanization and changing lifestyles are also expected to contribute to market growth over the assessment period.
According to the MRFR reports, the global Food Fortifying Agents Market Research report Size is likely to attain a over USD 41.47 Billion by the end of 2030 while flourishing at a healthy CAGR of over 16.7% during the forecasted era.
Key Players
Market players included in MRFR’s report on the global food fortifying agents market are E. I. du Pont de Nemours and Company, Döhler GmbH, Nestle SA, Chr. Hansen Holdings A/S, Arla Foods, Koninklijke DSM NV, The Archer Daniels Midland Company, Tate & Lyle, Cargill, Incorporated, Ingredion, BASF SE, and Kerry Group Plc. These players have been recorded in the report along with their respective market shares, market contributions and various strategies employed to induce growth in their market share.
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