The global food fortifying agents market size is expected to inflate on account of the joint efforts by the government and manufacturers to maintain public health, shares Fortune Business Insights™, in its report, titled, “Food Fortifying Agents Market, 2022-2029.”
The market is primarily driven by the rising health consciousness of consumers assisted by government organizations. For instance, the Food and Agricultural Organization (FAO) and the World Health Organization (WHO) has reported food fortification as one of the prominent strategies to curb the widespread malnutrition, specifically in underdeveloped countries. The food fortifying agents market is estimated to propel due to the surging demand for dietary supplements, nutritional sports supplements, animal care nutrition, and personal care products. The food & beverage industry, pet food producers, pharmaceutics, and baby food formula industry, among many others are the crucial product-users of food fortifying agents.
List of Key Players Covered in the Food Fortifying Agents Market Report
Hansen Holdings A/S
Archer Daniels Midland Company
Evonik Industries AG
Key players in the market have developed food fortifying agents, such as Vitamin C in fruit-based juices, dairy-based products, and other varieties of beverages and cereals. Fortification of Vitamin B complex is utilized for leafy vegetables and high refined cereals, whereas, fortification of calcium and phosphorus is practiced in producing baby food formula. Fortification for maize and wheat flour is beneficial for eradicating iron deficiency anaemia as it is done with zinc, folic acid, iron, and various other micronutrients. This is further expected to stimulate market growth during the forecast period.
On the basis of type, the global food fortifying agents market is divided into probiotic vitamins, proteins and amino acids, lipids prebiotics, carbohydrates, and minerals.
By application, the market is further categorized into infant formulas, cereals and cereals based products, fats and oils, dietary supplements, dairy and dairy based products, bulk food items, and feed.
In terms of region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Highlights of the Report
The report offers a holistic evaluation based on thorough research of the market. It further provides in-depth analysis of the current market trends and future opportunities. It sheds light on the market drivers and restraints. Moreover, key players and their shrewd strategies to prosper in the market and dominate as prominent players are shared in the report. Detailed study of the regional dynamics and how they shape the market is observed in the report.
Increasing Diet Intake Awareness Backed by Government Health Policies to Promote Growth
Various government organizations across the world have initiated health policies related to the addition of beneficial nutrients in meals, staple diet, and dairy products in their respective countries. This shall suggest manufacturers to utilize more food fortifying agents and lead to a decline in dietary deficiency cases. Additionally, a drop in the number of cases related to vitamin deficiency too shall be observed. This is expected to stimulate the market growth.
On the other hand, overdosing of food fortifying agents can have adverse health impacts. For example, vitamin C or zinc overdose could cause nausea, diarrhoea, and stomach cramps. Excessive usage of selenium could result in hair loss, gastrointestinal condition, fatigue, and also mild nerve damage.
While most people consume food fortifying agents through cereal at breakfast, an energy bar between meals, enriched pasta for dinner, and through daily supplement, this too could easily surpass the recommended daily intake of nutrients. Hence, these factors are estimated to hinder the market growth.
North America to Ace the Market Owing to Rising Health Consciousness
North America is expected to hold the majority of the shares in the global food fortifying agents market and maintain the top position. This is owing to the rising awareness about consuming a healthy and nutritional diet. This awareness is backed by major public welfare organizations, such as WHO and FAO. This shall further stimulate the regional market growth.
Asia Pacific is anticipated to portray substantial growth and hold the second-largest share for food fortifying agents in the global market. The growth is owing to the increasing demand and consumption in the food and beverage industry due to the rising population in countries, such as China and India. Moreover, major manufacturers of food fortifying agents present in this region are estimated to further drive the market growth.
Europe is anticipated to showcase decent growth on account of huge expenditures on the food and beverage industry for gaining maximum nutrition in daily intakes of people in this region.
Brand Acquisitions by Key Companies Set to Foster Market Growth
Prominent players are adopting several strategies to bolster their positions in the market as leading companies. One such key strategy is periodically launching innovative products with the detailed study of the market and its target audience. Another essential strategy is acquiring companies to bolster the brand value among users.
For example, in October 2020, Nestle SA, which is a major player in the food industry, announced the acquisition of Freshly, one of the top delivery service providers of fresh-prepared meals in the U.S. This is estimated to further help Nestle SA expand its brand recognition among its users and stay on the top position in the market.
May 2020: Cargill Incorporated, a key player in the market, launched PlantEver, a variety of plant-based products in China, contributing to more quality protein options in the Chinese market. This launch is expected to help boost the market position of Cargill Inc. in the upcoming years.
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