About Fortified Food
The global fortified foods market has been witnessing strong growth over the past few years on account of increasing consumption of vitamin-enriched foods. Food enrichment or fortification refers to the process of making food more nutritional by adding vitamins and minerals. Various types of food fortification have been identified by governments around the world and international organizations. This method is carried out at an industrial level, community level, and household, level to offer enhanced nutrition to people. The Food and Agricultural Organization (FAO) and the World Health Organization (WHO) have identified food fortification as one of the strategies to reduce the prevalence of malnutrition, particularly in underdeveloped countries. Several organizations have come forward to help people living in backward areas of countries such as India and Nigeria, by bridging the gap between nutrition and agriculture. North America, Japan, and Western Europe are the markets exhibiting maximum opportunities for fortified milk and milk-producing companies.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 10.2% |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that United States Vendors will contribute the maximum growth to Global Fortified Food market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Nestle (Switzerland), Kellogg (United States), Dean Foods (United States), Unilever (United Kingdom), Kraft Foods (United States), Meiji Group (Japan), Red Bull (Austria), The Proctor & Gamble Company (United States), General Mills, Inc (United States) and Hain Food Group Inc. (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Land O’Lake (United States) and H.J Heinz Company (United States).
Segmentation Overview
AMA Research has segmented the market of Global Fortified Food market by Type (Basic Food [Cheese, Butter, Yoghurt, Others], Processed Food, Extruded Products [Pasta, Snacks Food], Powdered Products [Infant Formula and Cereals, Powdered Beverages] and Value added Food [Juice, Condiments]) and Region.
On the basis of geography, the market of Fortified Food has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Asia Pacific region held largest market share in the year 2023. If we see Market by Micronutrients, the sub-segment i.e. Vitamins [Vitamin A, Vitamin B, Vitamin C, Vitamin D, Other ] will boost the Fortified Food market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Raw Material, the sub-segment i.e. Flours [Rice, Wheat, Corn] will boost the Fortified Food market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Technology, the sub-segment i.e. Drying [Oven Drying, Drum Drying, Spray Drying, Extrusion] will boost the Fortified Food market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Sales Channel, the sub-segment i.e. Modern Trade will boost the Fortified Food market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
The strong demand for healthy food products and increasing awareness about the essential nutrients, such as vitamins and minerals among consumers, will accelerate the demand for fortified food products.
Market Growth Drivers:
The rising health consciousness among consumers and The rising willingness among consumers in emerging economies to spend on fortified foods
Challenges:
The increasing supervisory problems from the food safety department and excessive addition of a few minerals and vitamins in the food products
Restraints:
The high cost incurred on the fortification of food
Opportunities:
The strengthening economies of Asia Pacific present huge opportunities for enterprises and Favorable regulations aimed at eradicating malnutrition and the growing awareness among policymakers
Market Leaders and their expansionary development strategies
In August 2023, Kellogg's and Post Holdings announced a potential merger, creating a cereal giant with brands like Frosted Flakes, Raisin Bran, and Honey Bunches of Oats. The deal is still awaiting regulatory approval.
In January 2024, General Mills launched Cheerios Oat Crunch Protein, a new high-protein cereal with 12 grams of protein per serving. The launch of Cheerios Oat Crunch Protein is part of a trend towards high-protein breakfast cereals. This trend is being driven by consumers' increasing demand for protein-rich foods.
Key Target Audience
Government Regulatory Bodies, Government Research Organization, Private Research Organization and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.