The Food Fortifying Agents Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2024-2033).
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In accordance with The Business Research Company’s Food Fortifying Agents Global Market Report 2024, the exponential growth trajectory of the food fortifying agents market has been remarkable in recent times. Projections indicate a robust ascent from $96.19 billion in 2024 to an impressive $109.24 billion in the same year, reflecting a notable compound annual growth rate (CAGR) of 13.6%. The upswing during the historical period is ascribed to heightened awareness regarding nutritional deficiencies, stringent government mandates, health and wellness trends, escalating consumer consciousness, and global malnutrition concerns.
Anticipating a continued surge, the food fortifying agents market is poised for substantial expansion, reaching an estimated $185.12 billion by 2028, exhibiting a commendable CAGR of 14.1%. This growth trajectory in the forecast period can be linked to overarching economic development goals, the adoption of sustainable fortification practices, a surge in customization and personalization trends, seamless integration into the global food supply chain, and sustained awareness regarding nutritional deficiencies. Noteworthy trends in the forecast period encompass cutting-edge fortification technologies, the fortification of convenience foods, global nutrition initiatives, and the prominence of sports nutrition and performance enhancement.
The increasing prevalence of chronic diseases is driving the food fortifying agents market going forward. Chronic diseases are ongoing illnesses or conditions, such as heart disease, cancer, asthma, and diabetes that can be managed through early detection, exercise, improved diet, and treatment therapy. With the rising chronic diseases, the consumer demand for healthy food is increasing, which leads to propelling the food fortifying agents market. For instance, according to the Partnership to Fight Chronic Disease (PFCD), a US-based, internationally recognized organization, chronic diseases are expected to affect nearly 49% of the total population, an estimated 164 million Americans by 2025. Therefore, the increasing prevalence of chronic diseases will promote the food-fortifying agents market.
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The food fortifying agents market covered in this report is segmented –
1) By Type: Minerals, Vitamins, Lipids, Carbohydrates, Proteins And Amino Acids, Prebiotics, Probiotics, Other Types
2) By Process: Powder Enrichment, Premixes And Coatings, Drum Drying, Dusting, Spray Drying Under Microencapsulation Process
3) By Application: Cereals And Cereal-Based Products, Dairy And Dairy-Based Products, Fats And Oils, Bulk Food Items, Beverages, Infant Formula, Ditetary Supplements, Other Applications
Top 5 major Players:
A pivotal trend in the food fortifying agents market is the emphasis on product innovation. Leading market players are strategically launching innovative products to broaden their product portfolio and capture a wider consumer base. A case in point is Nestlé Health Science, a Switzerland-based trailblazer in nutritional science. In September 2022, the company unveiled two groundbreaking probiotics in the form of solid beverages in China, aimed at fostering growth and addressing allergies in children. These probiotics boast strains such as Lacticaseibacillus rhamnosus GG, Bifidobacterium animalis BB-12, Lacticaseibacillus rhamnosus HN001, and Bifidobacterium lactis HN019. With a substantial count of live bacteria at 20 billion Colony Forming Units (CFU), these probiotics are enriched with vitamin C and zinc, while being free from common allergens like dairy, fragrances, lactose, and preservatives. This strategic move exemplifies a concerted effort towards meeting evolving consumer needs and maintaining a competitive edge in the dynamic food fortifying agents market.
The food fortifying agents market report table of contents includes:
1. Executive Summary
2. Food Fortifying Agents Market Characteristics
3. Food Fortifying Agents Market Trends And Strategies
4. Food Fortifying Agents Market – Macro Economic Scenario
5. Global Food Fortifying Agents Market Size and Growth
…..
31. Global Food Fortifying Agents Market Competitive Benchmarking
32. Global Food Fortifying Agents Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Food Fortifying Agents Market
34. Food Fortifying Agents Market Future Outlook and Potential Analysis
35. Appendix
List Of Tables:
Table 1: Global Historic Market Growth, 2018-2023, $ Billion
Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
Table 3: Global Food Fortifying Agents Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 4: Global Food Fortifying Agents Market, Segmentation By Process, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 5: Global Food Fortifying Agents Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
….
Table 74: Koninklijke DSM N.V. Financial Performance
Table 75: Chr. Hansen A/S Financial Performance
Table 76: BASF SE Financial Performance
Table 77: DuPont de Nemours Inc. Financial Performance
Table 78: Tate & Lyle Plc. Financial Performance
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