PUBLISHER: The Business Research Company | PRODUCT CODE: 1425481
PUBLISHER: The Business Research Company | PRODUCT CODE: 1425481
Food Fortifying Agents Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on food fortifying agents market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for food fortifying agents? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The food fortifying agents market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Food fortifying agents play a pivotal role in enhancing the nutritional content of food by incorporating essential micronutrients. This proactive measure of fortifying food is not only safe but also cost-effective, serving as an efficient method to improve diets and address micronutrient deficiencies.
The primary categories of food fortifying agents include minerals, vitamins, lipids, carbohydrates, proteins and amino acids, prebiotics, probiotics, and various others. Minerals are particularly instrumental in fortifying foods that may lack these essential nutrients. Key minerals like calcium, phosphorus, potassium, sodium, and others are crucial for promoting healthy growth and development in the human body. The incorporation of food fortifying agents involves diverse methods such as powder enrichment, premixes and coatings, drum drying, dusting, and spray drying, often utilizing microencapsulation processes. These agents find application in a wide array of food categories, spanning cereals and cereal-based products, dairy and dairy-based items, fats and oils, bulk food items, beverages, infant formula, dietary supplements, and various other food applications. This strategic use of fortifying agents contributes to elevating the nutritional quality of food products across diverse segments of the food industry.
The food fortifying agents market research report is one of a series of new reports from The Business Research Company that provides food fortifying agents market statistics, including food fortifying agents industry global market size, regional shares, competitors with a food fortifying agents market share, detailed food fortifying agents market segments, market trends and opportunities, and any further data you may need to thrive in the food fortifying agents industry. This food fortifying agents market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The food fortifying agents market size has grown rapidly in recent years. It will grow from $96.19 billion in 2023 to $109.24 billion in 2024 at a compound annual growth rate (CAGR) of 13.6%. The expansion observed in the historical period can be credited to the heightened awareness of nutritional deficiencies, government mandates and regulations, prevailing health and wellness trends, increased consumer awareness, and global concerns regarding malnutrition.
The food fortifying agents market size is expected to see rapid growth in the next few years. It will grow to $185.12 billion in 2028 at a compound annual growth rate (CAGR) of 14.1%. The anticipated growth during the forecast period is ascribed to economic development objectives, the adoption of sustainable fortification practices, a focus on customization and personalization, the integration of the global food supply chain, and heightened awareness of nutritional deficiencies. Prominent trends expected in the forecast period encompass the application of advanced fortification technologies, the fortification of convenience foods, global initiatives addressing nutrition, and the emphasis on sports nutrition and performance enhancement.
The upward trajectory of chronic diseases is a driving force behind the food fortifying agents market's growth. Chronic diseases, encompassing conditions like heart disease, cancer, asthma, and diabetes, can be managed through early detection, improved diet, exercise, and treatment therapy. As these diseases become more prevalent, there is a corresponding increase in consumer demand for healthy food, propelling the market for food fortifying agents. Notably, the Partnership to Fight Chronic Disease (PFCD) projects that chronic diseases will impact nearly 49% of the U.S. population, approximately 164 million Americans, by 2025, reinforcing the market's expansion.
The surge in sports activities is anticipated to be a significant driver for the growth of the food fortifying agents market. Sports activities, involving physical effort and skill, play a crucial role in maintaining and improving physical abilities. Food fortifying agents contribute to supporting athletic performance by incorporating essential nutrients, vitamins, minerals, and amino acids into food products. This is particularly vital for athletes and individuals engaged in sports activities. With over 90% of Australian adults participating in sports, and millions involved in athletics annually, the demand for fortified foods to enhance nutritional intake is on the rise, fueling the growth of the food fortifying agents market.
Product innovation stands out as a prominent trend in the food fortifying agents market, with major players actively launching innovative products to diversify their portfolios and attract a broader consumer base. For example, Nestle Health Science introduced two new probiotics in solid beverage form in China in September 2022. These probiotics, containing specific strains and additional components like prebiotics, vitamin C, and zInc., aim to support growth and address allergies in children. The absence of common allergens further enhances the appeal of these innovative products, showcasing the industry's commitment to meeting evolving consumer needs.
Strategic collaborations are a focal point for major companies operating in the food fortifying agents market, aiming to secure a competitive edge. These collaborations extend beyond partnerships between companies within the food fortifying agents production sector to include alliances with regulatory bodies, healthcare organizations, and food manufacturers. GNC Holdings LLC's collaboration with Nuritas in August 2023, resulting in the launch of Beyond Raw Dynamic Whey High-Tech Protein, exemplifies this trend. This fortified agent, enriched with the plant peptide PeptiStrong, demonstrates clinical benefits such as increased muscle protein synthesis and reduced signs of muscle breakdown and inflammation post-exercise. The strategic collaboration positions the product to outperform standard whey protein, emphasizing the industry's commitment to advancing nutritional science for enhanced consumer well-being.
In December 2021, Royal DSM, a leading chemical company headquartered in the Netherlands with a focus on health, nutrition, and materials, completed the acquisition of Vestkorn Milling for a total consideration of $65.06 million (€65 million). This strategic move was undertaken by DSM to strategically advance its position in the alternative proteins market and augment its existing product portfolio. Vestkorn Milling, based in Norway, is recognized for its expertise in producing ingredients, particularly textured vegetable proteins derived from peas and faba beans.
Major companies operating in the food fortifying agents market report are Koninklijke DSM N.V., Chr. Hansen A/S, BASF SE, DuPont de Nemours Inc., Tate & Lyle Plc., Ingredion Incorporated, Archer Daniels Midland Company, Nestle SA, The Kellogg Company, Advanced Organic Materials, A&B Ingredients Inc., Royal Cosun, Stratum Nutrition, Wenda Ingredients LLC, ABF Ingredients, Biothera Pharmaceuticals Inc., Cargill Incorporated, FMC Corporation., Glanbia plc., Zhejiang Garden Biochemical High-tech Co. Ltd., Kerry Group plc., Koninklijke DSM N.V., Lonza Group AG, Nutralliance Inc., Nutrifusion LLC, Prinova Group LLC, Sensus B.V., SternVitamin GmbH & Co. KG, Roquette Freres, and The Wright Group.
North America was the largest region in the food fortifying agents market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the food fortifying agents market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the food fortifying agents market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The food fortifying agents market consists of sales of micronutrients and dietary fiber. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.