“Food Fortification Market has been segmented on the basis of Product, Nutrients, and Type, Global Food Fortification Market To Expand At A Significant Growth Rate During The Forecast Period”
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According to the World Health Organization (WHO), cases of deficiencies of various micronutrients are increasing, worldwide. Among them, iron and anemia are the prominent contributors to the preventable disease burden. Food fortification is the process of deliberately increasing the content of essential micronutrients in food products so as to improve the nutritional value of food, providing health benefits and minimizing risk to health.
Considering the colossal growth of this market, Market Research Future (MRFR), in its recently published study report asserts that the global food fortification market would garner exponential accruals by 2022, registering an outstanding CAGR during the review period (2016-2022). Leverage to the heady lifestyle today, the growing working population is increasingly depending on fortified foods.
However, fortification efforts are limited especially in underdeveloped as well as developing countries due to the low iron bioavailability. Furthermore, using high iron fortification supplements may not always be prudent in tropical regions. Hence, The WHO endorses food fortification as a primary means of improving micronutrient health to improve the nutritional quality of the food supply.
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As a commutative result of all these factors, the food fortification market is growing continually. Recent trends such as healthy diets and change in consumption pattern have been benefitting to the growth of the market. Moreover, the growing consumer awareness towards the advantages of fortified foods and the inclination to adopt a healthy lifestyle is escalating the market on the global platform, increasing consumer’s demand for fortified food.
On the other hand, factors such as low-quality food fortification techniques and lack of technological expertise are impeding the growth of the market. Nevertheless, the development of distribution channels of food and beverage products is expected to support market growth, providing a huge impetus.
Additional factors propelling the growth of the market include growing health-centric (health conscious) populaces, growing industrialization, and rapid urbanization. The improving economic conditions, worldwide, is also a key driving force pushing up the market. Substantial investments made by the market players into R&D activities are, in turn, paying off well improving fortifying technologies.
Major Players:
Key players leading the Global Food Fortification Market include-
• Kellogg Co. (U.S.)
• Nestle SA (Switzerland)
• Dean Foods (U.S.)
• Kraft Foods (U.S.)
• Altria Group (U.S.)
• Campbell Soup Company (U.S.)
• General Mills (U.S.)
Global Food Fortification Market – Competitive Analysis
Highly competitive, the Food Fortification Market appears fragmented due to the presence of numerous well-established players. These players are attempting to stand their position through strategic partnerships, acquisitions, expansions, collaborations, and product and technology launches.
High potential growth demonstrated by the market is expected to attract several new entrants which will intensify the competition further. International players who are increasingly expanding their footprint in the growing market are making it difficult for regional vendors to compete with them, especially in terms of quality, technology, and prices.
Industry/Innovation/Related News:
March 22, 2018 – Nestlé SA (Switzerland), a multinational food and drink company announced acquires new fortification technology – Ferri Pro developed by researchers at Massey University (New Zealand) to tackle iron deficiency. Ferri Pro is a new fortification technology that uses food-grade materials and a unique processing method to fortify certain foods without negatively affecting product quality.
The technology provides advantages over other sources of iron present in foods, including ferrous sulphate, the recognized leading iron supplement. Nestlé also looks forward to the possibility of using Ferri Pro use in fortifying other foods and beverages likewise, in personalized or sports nutrition foods/products. The technology’s benefits could boost specific nutrient content for a user’s specific requirements.
Nestlé believes that helping individuals and families meet their daily requirements would contribute to reducing the risk of micronutrient deficiencies at scale. Hence, Nestlé aims to play a key role in support of global efforts to tackle the global burden of micronutrient deficiencies.
Global Food Fortification Market – Segments
For ease of understanding, the analysis has been segmented into four key dynamics:
By Product
• Dairy Products
• Fats & Oils Products
• Confectionary Products
• Bakery Products
• Beverages
• Infant Formulas
By Nutrient
• Vitamins
• Proteins
• Minerals
• Prebiotics & Probiotics
By Type
• Frozen
• Ready-to-mix
• Ready to eat
• Ready-to-drink
Global Food Fortification Market – Regional Analysis
The North American region, heading with its advanced technologies accounts for the leading market in the global food fortification market. Also, the region witnesses rising incidences of micronutrient deficiencies alongside various vitamin deficiencies such as Vitamin D deficiency which is very common.
Moreover, factors such as the spreading consumer awareness and increasing prevalence of chronic diseases such as cancer, high blood pressure, cardiovascular disease, and Alzheimer’s disease among others drive the regional market. Besides factors such as high disposable income and the increasing health eccentric populaces coupled with the influence of media industry provide impetus to the regional market growth.
The Food Fortification Market in the Asia Pacific region is rapidly emerging as a fast-growing and promising market, globally. The advancements in the food fortification technologies in some of the emerging economies such as China, India, Japan, and Australia drive the regional market, offering ample opportunities for expansion to international players.
Besides, the high consumption of processed and convenience food products alongside the growing demand for fortified food and beverages products especially is key factor fostering the growth in the regional market. Moreover, Food Safety and Standards enforced by the government to regulate the provisions regarding fortified food are some of the important factors propelling market growth in the region.
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