DUBLIN–(BUSINESS WIRE)–The “Food Fortifying Agents Market by Type (Minerals, Vitamins, Carbohydrates, Prebiotics, Probiotics), Application (Cereal & Cereal-based Products, Bulk Food Items), Process (Drum Drying, Dusting) and Region – Global Forecast to 2027” report has been added to ResearchAndMarkets.com’s offering.
The food fortifying agents market is projected to reach USD 128.0 Billion by 2027 growing at a CAGR of 10.1% from 2022 to 2027. Increasing consumer awareness with respect to the health benefits associated with fortifying agents and growing preventive healthcare measures undertaken by the consumers is proliferating the demand for food fortifying agents market.
The vitamins segment dominates the market with 26.0% of total market share in terms of value
Vitamins, also known as vital amines, are essential in micro quantities to ensure normal metabolism and growth of the body. They are classified as micronutrients because they are normally required in small amounts; usually a few milligrams (mg) or micrograms (?g) per day. A total of 13 vitamins have been identified, namely, vitamin A & provitamin A, vitamin B (B1, B2, B3, B5, B6, B9, and B12), vitamin C, vitamin D, vitamin E, and vitamin K.
Most vitamins cannot be synthesized by the body, as a result of which, they must be obtained through external sources. An exception is vitamin D, which can be synthesized by the action of sunlight on the skin. The segment held the largest share owing to rising risks of chronic diseases and consumer awareness regarding benefits of vitamins.
Food fortifying agents have high demand in bulk food items industry
The dominance of this application can be attributed due to the increasing demand for high-quality food products and changing health trends, which in turn increases the demand for food fortifying agents. The market is driven by the growing health awareness among consumers, urging companies to offer various food fortifying agents for various applications, such as functional foods, beverages, dietary supplements, infant formula, and dairy, due to their health benefits.
Fortification of bulk food items is an appropriate vehicle for the micronutrient and is widely consumed by the general population; it is intended for intervention programs to address the deficiency in a specific target population.
Asia Pacific is projected to witness the growth of 10.8% during the forecast period
The food fortifying agents market in Asia Pacific is growing at a CAGR of 10.8% due to the increasing health-consciousness among the consumers and the multi-benefits of food fortifying agents. The Asia Pacific food fortifying agent market is competitive in nature having a large number of domestic and multinational players competing for market share.
Emphasis is given on the merger, expansion, acquisition, and partnership of the companies along with new product development as strategic approaches adopted by the leading companies to boost their brand presence among consumers.
Market Dynamics
Drivers
- Consumer Awareness About the Health Benefits of Fortifying Agents and Increasing Focus on Preventive Healthcare
- Increasing Demand for Fortifying Agents in Dietary Supplements
- Increase in Application Profiling and Existing Applications Finding New Markets
- Increasing Cases of Chronic Diseases
Restraints
- High Cost Involved in R&D Activities
Opportunities
- Growing Applications of Food Fortifying Agents
- Technical Assistance by Governments
- Growing Demand from Emerging Economies
Challenges
- Price Differences in Fortified Vs. Non-Fortified Products
- Multi-Page Labeling on the Rise
Companies Mentioned
- A&B Ingredients, Inc
- Archer Daniels Midland Company
- Arla Foods Amba
- Basf Se
- Cargill
- Chr Hansen Holding A/S
- Dsm
- Dupont
- Ingredion
- Nestle Sa
- Royal Cosun
- Stratum Nutrition
- Tate & Lyle
- Wenda Ingredients, LLC
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