Market Highlights
Global Food Fortification Market 2020 is poised to witness substantial demand over the review period.
The method of applying micronutrients such as vitamins, proteins, minerals to food and beverage products is food fortification in order to supplement them with nutrients. This market is motivated by many reasons, such as increased demand for fortified food goods, increased malnutrition of micro-nutrients (iron, folic acid, iodine, vitamin A and zinc), and an alarming rise in women’s anemia. With rising market awareness and their growing interest in healthier lifestyles, the demand for fortified food from customers is projected to increase during the forecast era. Moreover, in gaining a competitive edge, many food producers worldwide have started to understand the benefits of food fortification ingredients, thus driving greater demand for food fortification agents. The rapid developments in the food fortification industry have also significantly contributed to the growing demand for food fortification agents, as the ease of the diet’s nutritional quality has greatly improved. In addition, it is likely that regular releases of freshly developed products with updated vitamin blends will fuel demand growth.
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However, as the working population has increased and demand for convenience food has increased with hectic schedule in recent years, so main players are investing in R&D for new fortified food product range, for example, breakfast cereals are now fortified with different minerals and vitamins to fulfil the daily nutritional requirement. Trends in healthier diets, healthy habits and improvements in trends of consumption have been expected to fuel growth in the industry. In addition, high investment is necessary for the processing of fortified food, with the economic collapse taking place in many nations; people in these countries find it difficult to afford vitamin-fortified food. Instead, they look for cheaper health foods and various other choices, such as dietary supplements that are available at a more affordable rate that impacts the consumer ground.
Competitive Dashboard
The key players profiled in the Food Fortification Market are as Nestle SA (Switzerland), Kellogg Co. (U.S.), Dean Foods (U.S.), Altria Group (U.S.), Kraft Foods (U.S.), General Mills (U.S.), and Campbell Soup Company (U.S.).
Segment Analysis
The demand for Food Fortification Market was segmented on the basis of milk products, fats and oils, confectionary products, baking products, snacks, infant formulas and other products.
Vitamins, vitamins, minerals, prebiotics & probiotics and others were segmented on the basis of nutrients in food fortification.
Food fortification was segmented on the basis of frozen, ready-to-mix, ready-to-eat, ready-to-drink and other kinds of food fortification.
Regional Overview
North America, Europe, Asia Pacific and the rest of the globe was segmented into the global food fortification industry (ROW). The largest market share has been among these North American regions. In the review period, the market is expected to expand at a higher pace. North America has been the global leader in demand for food fortifying agents due to the rising prevalence of diseases and raising cases of obesity in the region. This along with critical awareness of food fortifying agents and increasing government preference for their use, has collectively contributed to the dominance of North America in the global food fortifying agent industry.
In the food fortification industry, Asia-Pacific will be the fastest growing region and high growth in emerging economies such as India, China, Japan, Australia and Latin America provides enough opportunities for major players to expand. Market development will be underlined by the high consumption of packaged and convenience food items in the increasing Asia-Pacific and Latin American economies and the growing demand for fortified food and beverage products, in particular in China and India. Raising patient consciousness and rising incidences of chronic diseases such as high blood pressure, stroke, cardiovascular disease, Alzheimer’s disease, and others are driving the demand in the region.
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