Food Fortifying Agents Market by Type (Minerals, Vitamins, Proteins and Amino Acids, Lipids, Probiotics and Prebiotics, and Others), Application (Bakery and Confectionery, Dairy Products, Breakfast Cereals, Infant Formula, Dietary Supplements, Beverages, and Others): Global Market Size Estimates and Forecast (2022–2030)
The market crossed US$ 79.30 billion mark in 2022 and is expected to hit US$ 170.83 billion by 2030, recording a CAGR of 10.1% during the forecast period.
Food fortified agents has been significantly growing with increasing demand in dietary supplements.
Consumer awareness about the health benefits of fortifying agents and increasing focus on preventive healthcare are some of the factors attributing the growth of food fortifying agents’ market. With the increasing application profiling and growing demand from developing economies, the market is expected to witness a significant growth. The vitamins segment is expected to pace up with the rising adoption of vitamin-infused food and beverages. Further, other segments such as minerals, vitamins, proteins and amino acids, lipids, and probiotics and prebiotics is also expected to gain traction during the forecasted year.
Within the report, the market is segmented into product type, application, and geography. By type, the market is further segmented into minerals, vitamins, proteins and amino acids, lipids, probiotics and prebiotics, and others. Based on application, the market is divided into bakery and confectionery, dairy products, breakfast cereals, infant formula, dietary supplements, beverages, and others. Geographically, the market is sub segmented into North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa.
Increasing consumer health consciousness has empowered the growth of futuristic innovations.
Food fortifying agents are used in enhancing the nutritional values of food and beverages by adding vitamins and micronutrients in the products. There are three types of fortifications which are bio-fortification, commercial fortification, and home fortification. Increasing geriatric population has surged the demand for fortified food to various medical conditions like adult malnutrition has surged the demand for the market. Further, the increased health-conscious population with rising prevalence of chronic diseases has expected to enhance the growth of the market during the forecast period.
Rising adoption in various industries is one of the major factors accelerating the market growth.
The industries for food fortifying agents are the bakery and confectionery, dairy products, breakfast cereals, infant formula, dietary supplements, beverages, and others. with these industries, dietary supplements is one such industry, wherein the use of food fortifying agents is increasing owing to consumer awareness about health benefits and consumer shift towards consumption of nutraceuticals such as vitamins and minerals. The beverages are also witnessing the demand for food fortifying agents due to rising demand for sport nutrition beverages and increased consumption of functional beverages. Other industries such as bakery and confectionery, dairy products, breakfast cereals, and infant formula are encouraging use of food fortifying agents.
Recent strategic developments in food fortifying agents market
The food fortifying agents market has undergone several significant developments, and a few of these have been mentioned below:
- In August 2021, Chr. Hansen Holding A/S announced the launch of stable live probiotic for use of pet food and supplements, with an aim to offer every pet’s life stage with good bacteria.
- In December 2021, DSM acquired Vestkorn Milling, one of the Europe’s leading producer of pea- and bean-derived ingredients for plant-based protein products for an enterprise value of €65 million.
The food fortifying agents market is driven by several players by implementing strategic activities such as investments, new launches, mergers & acquisitions, and partnerships. Cargill, Incorporated, DSM, BASF SE, ADM, and Chr. Hansen Holding A/S are among the prominent players operating in the market.
Target audience for the report:
- Raw material providers
- Food fortifying agent’s associations, organizations, forums, and alliances
- Government bodies, such as regulating authorities and policy makers
- Venture capitalists, private equity firms, and start-up companies
- Food fortifying agent’s distributors and sales firms
- End users of food fortifying agents
- Research institutes, organizations, and consulting companies
Scope of the report:
In this report, the market has been segmented on the basis of:
- Type:
- Minerals
- Vitamins
- Proteins and Amino Acids
- Lipids
- Probiotics and Prebiotics
- Others
- Application
- Bakery and Confectionery
- Dairy Products
- Breakfast Cereals
- Infant Formula
- Dietary Supplements
- Beverages
- Others
- Region
- North America
- Europe
- Asia Pacific (APAC)
- South & Central America
- Middle East & Africa
- Companies profiled
- Cargill, Incorporated
- DSM
- BASF SE
- ADM
- Chr. Hansen Holding A/S
- Cargill, Incorporated
- DSM
- BASF SE
- ADM
- Chr. Hansen Holding A/S