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.
Request a Sample PDF Copy of This Report @ https://www.millioninsights.com/industry-reports/food-fortifying-market/request-sample
The key driving factors responsible for the growth of Food
Fortifying market :
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.
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.
View Full Table of Contents of This Report @ https://www.millioninsights.com/industry-reports/food-fortifying-market
No comments:
Post a Comment