Press release
Food Fortifying Agents Market Predicted to Flourish in the Coming Years
"Food Fortifying Agents Market"
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.
The global food fortifying agents' market can be segmented by type, which includes vitamins, lipids, proteins, amino acids, prebiotics, probiotics, carbohydrates, minerals and others. Based on application the market can be bifurcated into dairy and dairy based products, infant formula, cereals and cereal based products, dietary supplements, fats and oil beverages and others.
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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.
The market is majorly being driven by the increasing awareness of food fortification, growing prevalence of chronic diseases and the rising disposable income of consumers.
The COVID-19 Pandemic had a positive impact on the global food fortifying agents' market as people became more conscious while selecting foods. As people became more health conscious, there was an increase in the demand of plant-based nutrition which is sustainable and regenerative and food and beverages that provide a boost to the immunity which led to the growth of the market during COVID times.
The prominent players in the Global Food Fortifying Agents market are
Cargill Incorporated
DSM
DuPont
BASF SE
Arla Foods Amba
Tate & Lyle
Ingredion Incorporated
Archer Daniels Midland Company
Nestle SA
IFF
Chr. Hansen Holdings A/S
Kemin Industries, Inc.
Corbion
Allied Vitamins
Prinova Group
Roquette Frères
DÖHLER
Food Fortifying Agents Market 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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Scope of the Report:
The Global Food Fortifying Agents Market is segmented into various segments such as Type, application, process and region:
Based on type, the food fortifying agents market is segmented into:
Proteins & amino acids
Vitamins
Lipids
Prebiotics & probiotics
Carbohydrates
Minerals
Others
Based on the application, the food fortifying agents market is segmented into:
Infant formula
Dairy & Dairy-Based Products
Cereals & cereal-based products
Fats & oils
Beverages
Dietary supplements
Others
Based on the process, the food fortifying agents market is segmented into:
Power Enrichment
Premixes and Coatings
Drum Drying
Dusting
Spray Drying under Microencapsulation Process
Others
Based on region, the food fortifying agents market is segmented into:
Asia Pacific
Japan
China
India
Australia
South Korea
Vietnam
New Zealand
Philippines
Thailand
Malaysia
Hong Kong
Taiwan
Singapore
Indonesia
Sri Lanka
Rest of Asia-Pacific
North America
U.S.
Canada
Mexico
Europe
Germany
U.K.
France
Italy
Spain
Sweden
Austria
Finland
Belgium
Turkey
Russia
Poland
Hungary
Czech Republic
Switzerland
Netherlands
Rest of Europe
South America
Brazil
Argentina
Chile
Colombia
Rest of South America
Middle East & Africa
South Africa
U.A.E.
Saudi Arabia
Oman
Qatar
Iran
Egypt
Rest of Middle East and Africa
North America to Dominate the Market
North America is estimated to account for the largest market share during the forecast period. Due to increase in chronic diseases and obesity which has led to increased usage of healthy food additives.
Moreover, there is a growing demand of fortified food and beverage products as well as fortified foods in bakery confectionery in North America.
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