Exploring the Dynamic Landscape of the Food Fortifying Agents Market
The food fortifying agents market refers to the industry involved in the production, distribution, and sale of additives or ingredients used to fortify food products with essential nutrients. Food fortification is the process of adding micronutrients such as vitamins, minerals, and amino acids to food items to address deficiencies in diets and improve overall health outcomes.
The global food fortifying agents market is estimated to reach $128.0 billion by 2027, growing at a 10.1% compound annual growth rate (CAGR). The global market size was valued at $79.3 billion in 2022. With such remarkable figures on the horizon, the global market is undoubtedly one to watch out for.The food fortifying agents industry is poised for significant expansion in response to the growing emphasis on health and wellness among consumers. With a surge in demand for products that offer added nutritional benefits, there is a unique opportunity for innovation and growth in the market. As the aging population grows and health concerns become more prevalent, the adoption of food fortifying agents for a variety of applications is expected to increase on a large scale. This trend is set to drive the market forward, creating new avenues for manufacturers and suppliers to cater to the evolving needs of health-conscious consumers.
Key factors driving the growth of the food fortifying agents market include:
- Rising awareness about nutrition: Increased awareness among consumers about the importance of a balanced diet and the role of essential nutrients in preventing diseases has led to a growing demand for fortified food products.
- Government initiatives and regulations: Many governments have implemented regulations mandating the fortification of certain food items with specific nutrients to combat malnutrition and nutrient deficiencies in populations.
- Increasing health consciousness: With a growing focus on health and wellness, consumers are actively seeking out food products that offer added nutritional benefits, driving the demand for fortified foods.
- Technological advancements: Advances in food processing and fortification technologies have made it easier and more cost-effective for food manufacturers to incorporate fortifying agents into their products without compromising taste or texture.
- Expansion of the food industry: The expansion of the food and beverage industry, particularly in emerging markets, is creating opportunities for food fortifying agents manufacturers to cater to the increasing demand for fortified products.
Schedule a call with our Analysts to discuss your business needs:
https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=72061350
North America dominated the food fortifying agents market, and is projected to grow with a CAGR of 9.8% during the forecast period (2022–2027)
The key players in the North American market include Cargill (US) and FMC Corporation (US). Technological advancements have made food fortifying agents available for a wide range of applications in the food & beverage sector, which is estimated to drive the growth of the market in the region. The North American market is witnessing continued growth in sectors such as bulk food items, fats & oils, dietary supplements, and fortified cereals & beverages. Increased consumer demand and innovations in technologies are the key factors driving the market. Fortifying agents are extensively researched and scientifically proven functional food ingredients. In Canada, the situation of food fortification is changing. For many years, food fortification has been tightly regulated. The policy currently being crafted is likely to result in expanded options for food fortification, particularly in the area of discretionary fortification.
In the food fortifying agents market, dietary supplements application segment is registering the highest growth during the forecast period.
Growing incidences of chronic diseases, rise in the aging population, and the growing trend of health & wellness is driving the dietary supplements segment. It is projected to grow at the highest CAGR of 10.2% from 2022 to 2027. Dietary supplements are concentrated sources of nutrients or other substances with nutritional or physiological benefits, either provided alone or in combination, marketed in a pharmaceutical dose form and administered orally. Many European countries have adopted the highly restrictive CODEX standards for the supplements, which eliminate the consumer’s ability to purchase dietary supplements in therapeutic dosages. Codex Alimentarius (Latin for “Food Code”) is the United Nation’s proposed set of international guidelines for nutritional supplements, food handling, production, and nutrients.
Middle-class consumers in Asia are also showing an interest in nutrition and supplements due to urbanization and increasing income levels. This has led to an increase in the demand for omega-3 nutritional supplements due to the numerous health benefits they provide.
Minerals segment is the fastest growing among the various types of food fortifying agents during the forecast period.
Minerals are inorganic elements derived from soil and water and absorbed by plants. Mammals absorb minerals from the plants they consume. This is further segmented into micro minerals and macro minerals. Both are equally important; however, micro minerals are required in smaller amounts than macro minerals. The segment is registering the highest growth in market owing to its use in applications such as mineral supplements, meat products, breakfast cereals, infant foods, and health drinks among others.
To know more get PDF Copy: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=72061350
Major players profiled
Cargill, (US), DSM (Netherlands), Chr. Hansen Holdings A/S (Denmark), DuPont (US), BASF SE (Germany), Arla Foods Amba (Denmark), Tate & Lyle (UK), Ingredion (US), Archer Daniels Midland Company (US), and Nestle SA (Switzerland)
