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Market Overview:
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.
According to the MRFR report, the food fortification market will likely grow substantially by the end of the forecasted timeframe ending in 2023.
The upsurge in the demand for fortified food products and increase in cases of micro-nutrient malnutrition for iron, iodine, folic acid, zinc, and vitamin A, are other causes that can prompt the food fortification market growth. The surge in a number of women with anemia is creating the need for iron-fortified food, thus their increasing sales can favor the food fortification market in the approaching years. an alarming number.
Segment Analysis
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.
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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.
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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 Analysis
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 food fortification market include Campbell Soup Company, Altria Group, Kraft Foods, Dean Foods, General Mills, Kellogg Co., Nestle SA, and several others.
Recent Developments
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Market Research Future (MRFR) is a world-renowned market research company that offers a wide range of services, complete with accurate and precise analysis about diverse markets, sub-markets and target consumers. Our approach is a combination of extensive information and multiple data sources that help provide an exhaustive comprehension about the latest major developments to the client, in addition to future events and what measures and decisions to take on the basis of the same.
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