Fortified foods are those foods which are more enriched of vitamins and minerals. Fortification refers to the process which intentionally increases the content of a necessary micronutrient by adding vitamins and minerals to the food. The food fortification need has been identified at various levels in the global economies starting from consumption in homes to government initiatives.
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“Fortified Food Market: Global Demand Analysis & Opportunity Outlook 2021”
The global fortified food market is segmented into food types such as milk products, cereals and cereal based products, confectionaries, infant formulas, fats and oils and others includes tea. Among these segments, cereals and cereal based products segment is projected to lead the overall fortified food market and is anticipated to grab a notable CAGR by 2021.
Likely, rising awareness among the consumer towards health and wellness and increasing penetration of ready to eat food are some of the factors bolstering the growth of global fortified food market.
Global fortified food market is anticipated to showcase a tremendous CAGR of 10.5 % during the forecast period i.e.
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2015-2021. Moreover, the global fortified food market is projected to account exponential sales by the end of 2021. Additionally, the market is riding on the back of growing demand for functional packaged foods.
In terms of regional platform, North America region captured the leading share of global fortified food market in 2014. Further, U.S. holds the dominating share in the fortified food market in this region owing to growing awareness and wide availability of fortified food products through various distribution channels.
Moreover, Asia-Pacific region is believed to be the most lucrative market due to emerging economies such as India and China. In addition to this, growing population coupled with rising disposable income of the consumers has pushed the market of fortified food.
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Favorable Government Initiatives
Various governments have mandated the use of critical macronutrients into foods which is predicted to foster the growth of fortified food market. For instance, according to Global Alliance for Improved Health (GAIN), in 82 countries fortifying flour with critical micronutrients such as iron and folic acid is now mandatory.
Furthermore, over 2 Billion people dearth the essential vitamins and nutrients needed to grow and live healthy lives. These factors are directly impacting the growth of fortified food market.
Increasing Number of Diseases
Nutrients deficiency in the body is the leading cause of impairment of different organs which is believed to augment the demand for fortified food. For instance, iodine deficiency may lead to mental impairment and lost IQ.
Additionally, changing lifestyle of the consumers and increasing penetration of functional food are some of the factors fostering the demand for Fortified Food Market. On the contrary, high cost of fortified food is projected to dampen the growth of global fortified food market.
The report titled “Fortified Food Market: Global Demand Analysis & Opportunity Outlook 2021” delivers detailed overview of the global fortified food market in terms of market segmentation by food type, by basic nutrients and by region. Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
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This report also provides the existing competitive scenario of some of the key players of the global fortified food market which includes company profiling of The Proctor & Gamble Company , Abbott Laboratories ,Land O’Lake , H.J Heinz Company , Kellogg Company , General Mills, Inc. , Philip Morris Companies , Hain Food Group Inc., Nestle SA, Dean Foods.
The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global fortified food market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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Category: Market Research Publishers and RetailersCompany about: Research Nester is a leading service provider for strategic market research and consulting. We aim to provide unbiased, unparalleled market insights and industry analysis to help industries, conglomerates and executives to take wise decisions for their future marketing strategy, expansion and investment etc. We believe every business can expand to its new horizon, provided a right guidance at a right time is available through strategic minds. Our out of box thinking helps our clients to take wis ...