Food Fortifying Agents Market is expected to expand with an impressive CAGR over the forecast period
The prime factor driving the demand for food fortifying agents are rising consumer awareness coupled with the increasing cases of chronic diseases such as cardiovascular diseases, Alzheimer disease, high blood pressure, and many others. Moreover, there has been a record increase in cases of vitamin deficiency which has been another prime factor fuelling revenues in the global food fortifying agents market. Furthermore, globally many food producers have started recognizing the benefits of food fortification in gaining competitive advantage, thus driving more demand for food fortifying agents. Rapid innovations in the food fortifying industry has also contributed significantly to the increasing demand for food fortifying agents, as they immensely improve the ease of increasing the nutrient value of the diet. Apart from this, due to increasing awareness regarding consumption of high quality healthy foods coupled with alteration in health trends are elevating the global food fortifying agents market. High cost of food fortifying agents can be considered as the prime factor restraining the growth in the global food fortifying agents market.
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The global food fortifying agents market is divided into seven regions, namely North America, Latin America, Asia Pacific excluding Japan (APEJ), Western Europe, Eastern Europe, Japan and Middle East and Africa (MEA). Historically, North America has been the global leaders in demand for food fortifying agents, amid increasing prevalence of diseases and rising obesity cases in the region. This coupled with significant awareness about food fortifying agents and government increasing preference towards its usage have together contributed towards the dominance of North America in the global food fortifying agents market. Asia Pacific Exc. Japan (APEJ) is another prominent region which is contributing significantly to the rapid growth in the global food fortifying agents market. Rapidly increasing prevalence of chronic diseases in China and India is prominently fuelling revenues in the APEJ's food fortifying agents market. Western Europe is also a prominent region in terms of consumption for food fortifying agents, but due to rising awareness about healthy food, the region is anticipated to execute a sluggish growth over the forecast period. Governments of MEA and Latin America have been sluggish in adopting food fortifying agents and defining laws regarding the same, thus the regions are expected to account for a niche market share in the overall global food fortifying agents market. Japan struggling with its aging population presents a lucrative demand for fortifying agents aimed towards the nutrient supply for the higher age groups.
Global Food Fortifying Agents: Key Players
Some of the key players identified in the global Food Fortifying Agents Market includes:
I. du Pont de Nemours and Company
Archer Daniels Midland Company
Hansen Holdings A/S
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry's value chain.
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