Market Insights
Market Research Future study predicted that the global Food Fortification industry is likely to attend a noteworthy growth over the forecast period, 2017-2023.
The growing acceptance of prepared meals in developed and developing regions and awareness of the health benefits of fortified foods have created many opportunities to expand the global Food Fortification industry. The introduction of innovative food products enriched with essential nutrients such as vitamins, proteins, and others help increase the popularity of fortified foods among the urban population, which in turn fuels the growth of the global food market. Government initiatives and campaigns to raise public awareness about the health benefits of food grains towards food fortification for the development and distribution of fortified food grains in rural areas might uplift the market growth. Enhanced foods are also expected to contribute to the global growth of food fortification during the evaluation period.
Various quality assurance and control standards that help to maintain the core nutrients intact are introduced by the regulatory to sustain the superiority of the product. Targeted fortification is also one of the key driving factors responsible for the growth of the global Food Fortification industry.
With increasing consumer awareness and a growing interest in healthy living, consumer demand for fortified foods is anticipated to spur during the forecast period. With the increase in workforce and busy hours, however, the demand for ready meals has increased in recent years. The most important players, therefore, invest in the research and development of a new range of enriched food products. For example, breakfast cereals are fortified with various minerals and vitamins to meet daily nutrient needs.
Key Players
Key players that are operating the global Food Fortification industry include Altria Group, Dean Foods, Nestle SA, Campbell Soup Company, Kraft Foods, Kellogg Co., and General Mills. Manufacturers focusing on market-driven fortification that are aligned with regulatory limits with a goal to enhance micronutrients and profitability is estimated to create intense competition in the global market.
Market Segmentation:
The global Food Fortification industry is broadly segmented into type, nutrients, and product.
On the basis of type, the global Food Fortification industry is diversified into confectionery products, dairy products, fats, and oil products, beverages, bakery products, and infant formulas.
Based on nutrients, the global Food Fortification industry has been vitamins, prebiotics & probiotics, proteins, and minerals.
The type segment of the global market is bifurcated into frozen, ready-to-drink, ready-to-mix, and ready to eat.
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Regional Analysis
Geographically, the global Food Fortification industry is segmented into four major regions, North America, Europe, Asia Pacific, and the rest of the world. North America occupies the majority of the share in the global Food Fortification industry through the proliferation of health-conscious individuals, increased awareness of the importance of nutrients in the daily diet, and increased disposable income of the region's population.
Increased consumption of processed foods, research and development initiatives for the introduction of enriched grains with higher nutritional value than other grains, increased public funding for the supply of enriched grains in rural areas, and greater awareness of the benefits to fortified food health drives the growth of the Food Fortification industry in the Asia Pacific region. Strong demand for nutrient-rich food products and increased consumer awareness have created lucrative opportunities to expand the Food Fortification industry in the European region.
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