Biofortification Market Grow By Leading Industry Players Syngenta, DowDuPont, Bayer, BASF

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Top Companies profiled in the Biofortification Market include:
• Syngenta
• DowDuPont
• Bayer
• BASF
• Monsanto
• Charles River
• LemnaTec
• Intertek
• Agro BioSciences Inc.

The Biofortification Market is estimated at US$ 78 Million in 2018,and projected to grow at a CAGR of 8.6%, to reach US$ 118 Million by 2023. The growth of the biofortification market is driven by the rise in funds for agronomic practices and technological advancements. A key driver for the market’s growth is the increasing use of high nutritional content in foods due to increasing consumer awareness about healthy diets. Africa is projected to be the fastest-growing regional market.

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“The Sweet potato segment is estimated to account for the largest share in 2018”
Based on Crop, the sweet potato segment is estimated to account for the largest share of the biofortification market in 2018. The demand for biofortified crops such as sweet potato and cassava has increased with the rising technological advancements to increase the nutrient content, particularly in orange-fleshed sweet potato (OFSP). Africa is projected to be the fastest-growing market in the sweet potato segment due to the ease of biofortifying sweet potato with nutrients such as iron, zinc, and vitamins.

“Vitamins to be the fastest growing target nutrient of biofortification”
Based on Target nutrient, the vitamins segment is expected to be the fastest-growing during the forecast period. Growth in demand for functional and enriched processed food products, prevalence of vitamin deficiencies, and feed fortification due to the rise in global meat and dairy product consumption are some of the driving factors for the biofortification market.

“High Growth is expected in the African biofortification market”
Africa is projected to be the fastest-growing market for the period considered for this study due to the rising disposable income and increase in demand for nutritional food products, along with the growing technology base, leading to increased demand for biofortificationin the region. Africa has rich biodiversity in terms of crops. The development and introduction of agro-innovation across Africa resulted in the adoption of various new technologies in the agriculture industry.

Report Highlights:
• To profile key players and comprehensively analyze their core competencies

• To define, segment, and project the global market size for biofortification

• To understand the structure of the biofortification market by identifying its various subsegments

• To provide detailed information about the key factors influencing the growth of the market (drivers, restraints, opportunities, and industry-specific challenges)

• To analyze the micromarkets with respect to individual growth trends, future prospects, and their contribution to the total market

• To analyze the competitive developments such as expansions & investments, new product launches, mergers & acquisitions, joint ventures, and agreements

• To project the size of the market and its submarkets, in terms of value, with respect to the regions (along with their respective key countries)

• To understand the competitive landscape and identify major growth strategies adopted by players across key regions

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This release was published on openPR.