Global Food Fortifying Agents market research provides a new perspective into the components and workings of the Food Fortifying Agents market on global as well as regional levels. The report serving as an invaluable source of guidance for readers covers an analysis overview of the industry chain of the global market and discusses key elements associated with it, Food Fortifying Agents market. The report focuses on the global status, future forecast, growth opportunity, key market, and key players.
The Global Food Fortifying Agents market size was estimated at USD 87.15 billion in 2023 and is projected to reach USD 168.75 billion in 2030 at a CAGR of 9.90% during the forecast period 2023-2030.
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Food fortification is the practice of adding micronutrients to food products to improve their nutritional content. This is done to address micronutrient deficiencies in the population, which can lead to a number of health problems, including anaemia, blindness, and impaired cognitive development.
There are a number of different micronutrients that can be added to food, including vitamins, minerals and proteins. The most common micronutrients added to food are vitamin A, iron and iodine.
Delvens Industry Expert's Standpoint
During the COVID-19 pandemic, people became more health conscious and shifted their focus towards selecting food and beverages that provided them with health benefits. This led to an increase in the sales of food fortifying agents and food and beverages that use food fortifying agents. Vitamin sector accounts for a major share in the market due to rise in chronic diseases due to vitamin deficiencies, increase in health care cost, increasing Do It Yourself Trend and increase in ageing population. Overall, the market is set to grow in the forecast years due to increasing awareness of people towards food fortification.
Competitive Landscape of Food Fortifying Agents market:
- Cargill Incorporated
- DSM
- DuPont
- BASF SE
- Arla Foods Amba
- Tate Lyle
- Ingredion Incorporated
- Archer Daniels Midland Company
- Nestle SA
- IFF
- Hansen Holdings A/S
- Kemin Industries, Inc.
- Corbion
- Allied Vitamins
- Prinova Group
- Roquette Frères
- DÖHLER
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Key Findings:
- The type segment is further bifurcated into proteins amino acids, vitamins, lipids, prebiotics probiotics, carbohydrates, minerals, and others. The vitamin segment is the largest segment, accounting for majority of the market share.
- By application, the market is fragmented into infant formula, dairy dairy-based products, cereals cereal-based products, fats oils, beverages, dietary supplements, and others.
- The market is also divided into various regions such as North America, Europe, Asia-Pacific, South America, and Middle East and Africa. North America is estimated to account for the largest market share during the forecast period due to increasing chronic diseases and obesity leading to growing demand of food fortifying agents.
Recent Developments:
- In 2022, a new innovation centre was setup by Cargill in India in lieu of the increasing consumer demand for healthy nutritious food solutions.
- In 2021, Vestkorn milling, the leading producer of pea and bean derived ingredients for plant-based protein products was acquired by DSM for USD 68.4 million.
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