Food Fortification Market Overview:
According to the MRFR report, the global food fortification market will likely grow substantially by the end of the forecasted timeframe ending in 2030.
Food Fortification Market Size is projected to reach USD 234,253.5 million By 2030, growing at a 6.4% CAGR from 2022 to 2030.
Food fortification refers to the method of integrating micronutrients such as proteins, minerals, and vitamins into food and beverage products to enhance the nutritional content. The global market for food fortification has recorded enormous growth in recent years. The market's growth is being driven by the increase in issues regarding micro-nutrient malnutrition and the increase in the demand level of fortified food products. However, stringent regulations and laws are likely to restrict the growth of the food fortification market over the forecasted era.
Segmentations:
The global food fortification market has been fragmented into several segments based on product, nutrients, type, and region.
Based on product, the global market for food fortification is split into infant formulas, bakery products, fats, and oils products, beverages, confectionery products, dairy products, and others.
Based on nutrients, the global food fortification market has been divided into prebiotics and probiotics, minerals, proteins, vitamins, and others.
Based on type, the global market for food fortification is split into ready-to-drink, ready-to-eat, ready-to-mix, frozen, and others.
Regional Analysis:
The global food fortification market is studied across five major regions: Asia-Pacific, Europe, North America, and the rest of the world.
The reports by MRFR suggest that the North American region is projected to dominate the global food fortification market over the forecasted era. The growth of the regional market is being driven by the growing proliferation of health-conscious individuals across the region. Furthermore, factors such as the increased disposable income of the population and rising awareness related to the importance of nutrients in the daily diet are also projected to influence the regional market's growth positively.
The Asia-Pacific region is likely to register the highest growth in the global food fortification market over the assessment period. The major aspect causing an upsurge in the regional market's growth is the growth in emerging economies such as China and India. Moreover, the factors such as growing awareness related to the health benefits of fortified food, increased government funding for supplying fortified food grain in the rural areas, research and development initiatives, and increased consumption of processed food are projected to boost the growth of the regional market.
The European regional market for food fortification is projected to record substantial growth over the forecasted era owing to the increasing consumer awareness and high demand for food products that are rich in nutrients.
Competitive Landscape:
The global food fortification market has an intensely competitive landscape. The presence of plenty of players worldwide is projected to raise the market concentration. The market players are following new approaches and strategies to strengthen their global footprint. The leading players in the global Key Food Fortification Market Players include Campbell Soup Company, Altria Group, Kraft Foods, Dean Foods, General Mills, Kellogg Co., Nestle SA, and several others.
Recent Developments:
- November 2021 – Kerry has announced the launch of Emulgold Fibre, a natural, soluble solution derived from acacia gum that can fortify white bread. At present, less than 20% of consumers achieve their daily target fiber intake. The head of European bakery business development at Kerry, Matthew May, said that consumers understand the connection between digestive health and fiber and the connection between digestive health with well-being and overall health.
- July 2021- LT Foods has announced the expansion of its product portfolio in the health sector with the launch of "Daawat Sehat," a fortified everyday Basmati rice fortified with vitamin and iron.
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