Fortified Food Market size is estimated to reach $112.25 billion in 2019, growing at a CAGR of 6.3% during the forecast period 2020-2025. Foods enriched with additional nutrients like vitamins and minerals to meet nutrient-rich diet are Fortified foods. It is done by using a process called fortification. Fortification involves intentional increase of a necessary micronutrient by adding vitamins and minerals to the food. With change in nutrition intake, many healthcare personnel recommend patients/consumers to consume fortified foods in order to meet daily nutrition requirements. The food fortification need is identified, at various levels in the global economies starting from consumption in homes to government initiatives.
Key Takeaways
- Geographically, North America accounted for the highest revenue share in 2019 owing to the high intake of fortified foods across the region.
- Fortified Food based on Nutrient type has vitamins segment leading the market share in 2019.
- Detailed analysis on the Strength, Weakness and Opportunities of the prominent players operating in the market will be provided in the Fortified food Market report.
- The production of fortified food requires high investment, which is set to act as a challenge to hamper the growth for the forecast period 2020-2025.
By Nutrient Type - Segment Analysis
The Application segment of Fortified Food Market has proteins & amino acids, vitamins, carbohydrates, prebiotics & probiotics, lipids, minerals, and others. The vitamins is sub segmented into Vitamin A, C, D, Riboflavin and others. The Vitamins segment register for the highest market share in 2019, and is set to grow during the forecast period (2020-2025). The increase in revenue is with rise in diseases such as osteoporosis and rickets owing to vitamin deficiency, and the increasing healthcare cost. The probiotics segment is set to grow with a CAGR of 5.7% during the forecast period 2020-2025. The increase in chronic diseases are the reason for this sudden growth.
By Application - Segment Analysis
The global Fortified Food Market based on application, has infant formula, dairy & dairy-based products, cereals & cereal-based products, fats & oils, beverages, dietary supplements and others. The dietary supplements segment registers for the highest market share in 2019 and is set to continue for the forecast period (2020-2025). The reason for growth is owing to the health benefits that the supplements offer. The growth of population who are concentrating on fitness is also driving the supplements segment.
By Geography - Segment Analysis
The global Fortified Food Market by geography covers North America, Europe, Asia Pacific and Rest of the World. The global Fortified Food Market has the dominant share in North America, in terms of revenue in 2019. North America holds largest market share of 48% owing to the strong demand from consumers for processed foods and healthy eating habits in the region. The market in Asia-Pacific is set to grow with highest CAGR during the forecast period 2020-2025. The growth is owing to the increase in demand of nutrition rich foods. The growing awareness of nutrition awareness in countries like China and India is set to drive the market.
Drivers – Fortified Food Market
The Fortified Food is better source of nutrition that are required to every day work. The Food and Agricultural Organization (FAO) and the World Health Organization (WHO) has recognized food fortification as one of the key strategies to reduce the widespread malnutrition, particularly in underdeveloped countries. Besides, the increase in the health consciousness among consumers and the support of government organizations is driving the demand for Fortified Food in the forecast period 2020-2025.
Challenges – Fortified Food Market
The issues related to license, and Increase in supervisory from the food safety department and health risks owing to excessive addition of a few minerals and vitamins in the food products are the challenges for the growth of the global fortified food market for the forecast period 2020-2025.
Fortified Food Industry outlook:
Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Fortified Food Market. Key companies of this market are Dean Foods Company, Kraft Foods Inc., Kellogg Company, Meiji Holdings Company, Ltd., Nestlé S.A., Unilever Company, BASF SE, General Mills Inc., Tata Chemicals Limited, Mondelez International, and Cargill Incorporated.
Acquisitions/Product Launches:
- In 2019, Nestle S.A. acquired a new food fortification technology from researchers to address the nutritional deficiency in New Zealand.
- In 2018, Nestle S.A. opened a production unit to expand its range of fortified powdered milk in Cameroon.
