The global fortified food market is poised for significant expansion, with forecasts indicating a valuation of US$ 257.7 billion by 2033. This robust growth is fueled by increasing consumer awareness about nutrition and health consciousness, presenting lucrative opportunities. Consumers in industrialized economies are increasingly aware of the health benefits of fortified foods, which is a driving force behind the market for these products.
Fortified foods, enriched with essential vitamins and minerals, are witnessing a surge in demand globally. With an estimated Compound Annual Growth Rate (CAGR) of 6.2% from 2023 to 2033, the market is experiencing rapid growth, driven by the rising prevalence of chronic conditions and the growing emphasis on balanced diets.
The demand for fortified foods is propelled by changing consumer lifestyles, increasing awareness about health benefits, and government initiatives aimed at eliminating malnutrition. As consumers seek convenient and nutritious food options, fortified foods have emerged as a preferred choice, driving market growth.
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Several factors contribute to the growth of the fortified foods market, including the rising incidence of nutritional deficiencies, growing awareness about the importance of nutrition, and advancements in food technology. Additionally, government support for food fortification programs and the increasing popularity of functional foods are driving market expansion.
With the prevalence of chronic diseases and nutrient deficiencies, consumers are increasingly seeking foods that contain essential nutrients and support specific health goals. As fortified foods are highly convenient, marketable, and strategically positioned, modern trade outlets are valuable drivers of growth.
A variety of fortified foods are being developed by manufacturers that meet the various preferences and dietary restrictions of consumers, such as vegan, gluten-free, and dairy-free diets. Fortified foods are increasingly containing functional ingredients such as probiotics, prebiotics, antioxidants, and botanical extracts to make them more nutritious, functional, and tasty. A number of health benefits have been linked to these ingredients, including improving gut health, boosting immunity, and preventing disease.
With the continual advancements in drying technology, including freeze-drying, spray drying, and vacuum drying, it is anticipated that these advances will lead to improving efficiency, cost-effectiveness, and better retention of the nutrient content of the crops. There is a possibility that consumers will find it more appealing to consume fortified foods produced through these methods.
Key Takeaways from the Market Study
- The fortified foods market is estimated to reach US$ 207,352.6 million by 2032.
- A CAGR of 2.5% was recorded between 2018 and 2022 for fortified foods.
- Japanese sales accounted for 5% of the global market in 2022.
- According to analysts, the market for fortified foods in the United Kingdom grew by 2.5% in 2022.
- The micronutrient market for vitamin D is forecast to dominate during the forecast period.
- Yogurt with added vitamins is expected to gain popularity in the coming years.
“Innovation and the development of new products will fuel fortified food market growth. A rising number of government initiatives and research and development activities are expected to drive growth in the market,” says an FMI analyst.
Business Growth Headlines:
- Fortified Foods Market Set to Exceed US$ 257.7 Billion by 2033: Forecasts indicate substantial growth prospects for investors in the B2B industry as the fortified foods market continues to expand globally.
- Rising Health Consciousness Drives Market Growth: Increasing consumer awareness about nutrition and health benefits is fueling the demand for fortified foods, driving market growth at a CAGR of 6.2% from 2023 to 2033.
- Government Initiatives Support Market Expansion: Government policies and programs aimed at eliminating malnutrition and promoting public health are driving the adoption of fortified foods, further contributing to market growth.
- Investment Opportunities in Research and Development: Strategic partnerships and investments in research and development are key to unlocking growth opportunities in the fortified foods market, offering investors avenues for innovation and product differentiation.
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Competitive Landscape
More companies are collaborating and establishing strategic partnerships in the fortified foods industry.
Fortified food companies conduct research and development, innovate, develop products, expand geographically, and establish strategic partnerships.
- In July 2023, Big G breakfast cereals will contain double the amount of vitamin D as they currently do, providing 20% of the daily dose of vitamin D. The first cereals to include the vitamin boost are Cinnamon Toast Crunch and Cheerios; later this summer, Cocoa Puffs, Lucky Charms, Trix, and Cookie Crisp will follow. By the end of this year, the company plans to offer a full line of vitamin D-fortified cereals nationwide.
- In August 2023, the Directorate of Food and Civil Supplies will collaborate with PATH, its technical partner, to raise awareness about plastic rice circulating on social media.
Know More about What the Fortified Foods Market Report Covers
Future Market Insights offers an unbiased analysis of the global fortified foods market, providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033.
To understand opportunities in the fortified foods market, the market is segmented based on raw material, micronutrients, application, technology, and sales channel industry type across six major regions.
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Fortified Foods Market by Category
By Raw Material:
- Flours
- Rice Flour
- Wheat Flour
- Corn Flour
- Rice
- Salt
- Milk
- Oil
- Sugar
By Micronutrients:
- Vitamins
- Vitamin A
- Vitamin B
- Vitamin C
- Vitamin D
- Other Vitamins
- Minerals
- Calcium
- Iron
- Zinc
- Iodine
- Other Minerals
- Ther Fortifying Nutrients
By Application:
- Basic Food
- Cheese
- Butter
- Yoghurt
- Others
- Processed Food
- Extruded Products
- Powdered Products
- Value added Food
- Condiments
- Juice
By Technology:
- Drying
- Oven Drying
- Drum Drying
- Spray Drying
- Extrusion
- Coating & Encapsulation
- Others
By Sales Channel:
- Modern Trade
- Online Sales
- Neighborhood Stores
- Other Retail Format
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia & Pacific
- East Asia
- The Middle East & Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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