The global fortifying agents market is on a trajectory to reach USD 168.9 billion by 2032, driven by a robust CAGR of 7.7%. Fortifying agents play a crucial role in enhancing the nutritional value of various food products, catering to the increasing consumer demand for healthier and fortified foods.
The market for fortifying agents is driven by rising consumer demand for nutritional supplements and healthy foods. Manufacturers are increasingly using fortified agents in their products as consumers become more aware of the benefits of dietary supplements with fortified nutrients for general human body development.
Demand of the Market:
- Health Consciousness: Growing consumer awareness about health and nutrition is fueling the demand for fortified foods. With rising concerns about chronic diseases and nutritional deficiencies, consumers are seeking food products enriched with essential vitamins, minerals, and nutrients provided by fortifying agents.
- Diverse Applications: Fortifying agents find wide application across various industries, including food and beverage, pharmaceuticals, and pet food manufacturing. From staple foods to dietary supplements, fortifying agents are incorporated to bridge the nutritional gap and improve overall health and well-being.
- Global Expansion: Emerging economies like China and India are witnessing a surge in demand for fortifying agents due to government initiatives promoting fortified foods and increasing health concerns among the population. Additionally, the market is driven by factors such as aging populations, rising healthcare costs, and changing dietary habits.
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Additionally, Iron deficiency anemia can be prevented by fortifying wheat and maize flour with zinc, iron, folic acid, and other minerals (IDA). Milk fortification aids in the recovery of micronutrients lost during the milk manufacturing process. The amount of micronutrients in food can be enhanced by fortification. The market demand is also expanding as a result of this.
Growing Factors:
- Health Benefits: Fortifying agents help in reducing the risk of chronic diseases such as high blood pressure, cardiovascular disease, and osteoporosis by improving the nutritional content of food products. As consumers prioritize health and wellness, the demand for fortified foods containing fortifying agents is expected to increase significantly.
- Regulatory Support: Regulatory bodies like the FDA set standards and requirements for mandatory food fortification, driving market growth. Mandatory fortification of staple foods with essential nutrients ensures adequate intake and helps address nutritional deficiencies, especially in developing countries.
- Diverse Product Offerings: With advancements in technology and product innovation, manufacturers are introducing a wide range of fortified food products containing novel fortifying agents. From cereals to dairy products and infant foods, fortifying agents are incorporated into various food categories to meet consumer preferences and dietary needs.
Key Takeaways from Market Study
- The market is segmented based on agent type, wherein vitamin is anticipated to account for around 21.2% of the market share over the forecast period.
- The North American Fortifying Agents market is expected to witness a lucrative growth rate of 7.0% during the forecast period.
- East Asia is inferred to account for 22.4% of the global fortifying agent’s consumption through 2032.
- Fortifying Agents application in Beverages is expected to hold a market share of over 15.2% in the forecast period
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“The market is driven by the multifunctionality of fortifying agents, as well as the increased demand from the food and beverage industry. However, rising raw material costs and rivalry among raw material suppliers, as well as rules governing the manufacture of food fortifying agents, are putting a damper on the market.” says a Future Market Insights analyst.
Competitive Landscape
Joint ventures, mergers & acquisitions, and other strategic initiatives are continually being pursued by market participants. Among the large firms trying to increase their global footprints and capacities are Archer Daniels Midland Company, and Royal DSM. In a fast-growing region like East Asia and South Asia, major firms are likewise attempting to diversify their product lines to get a competitive advantage over their competitors.
Key Takeaways for Investors:
- Investment Opportunities: The fortifying agent market presents lucrative investment opportunities for investors seeking growth in the B2B industry. With a projected CAGR of 7.7% and a market valuation exceeding USD 168.9 billion by 2032, the market offers significant potential for returns on investment.
- Focus on Innovation: Investing in companies that prioritize research and development to innovate new fortifying agents and fortified food products can drive market competitiveness and growth. Companies leveraging technological advancements to develop novel fortifying agents tailored to specific consumer needs are well-positioned to capture market share and increase profitability.
- Market Expansion Strategies: With increasing demand from emerging economies like China and India, investing in companies that focus on global expansion and market penetration can yield substantial returns. Companies that invest in marketing and distribution channels to reach a wider audience and capitalize on growing health concerns and dietary trends are likely to experience sustained growth in the fortifying agent market.
- Regulatory Compliance: Investing in companies that adhere to regulatory standards and compliance requirements for fortifying agents can mitigate risks and enhance market credibility. Companies that maintain high-quality standards and transparency in manufacturing processes are perceived favorably by consumers and regulatory authorities, driving market trust and loyalty.
Purchase now and gain full access to the Fortifying Agent Industry report, featuring comprehensive Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives.
Explore More Valuable Insights
Future Market Insights, in its new report, offers an impartial analysis of the global fortifying agents market, presenting historical data (2017-2021) and estimation statistics for the forecast period of 2022-2032.
The study offers compelling insights based on agent type (probiotics, minerals, prebiotics, vitamins, carbohydrates, others), by form (powder, liquid, and granules), by application ((cereals & cereal-based products, dairy & dairy-based products, fats & oils, bulk food items, beverages, infant formula, dietary supplements, others (bakery, confectionery products, pet food, animal feed, and pet nutrition)) across seven major regions of the world.
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