Fortified Foods Market to Attain a Valuation of US$ 257,715 million by 2033 | Future Market Insights Inc.

The global fortified food market is projected to reach a value of US$ 257,715 million by 2033, growing at a positive CAGR of 6.2% for the forecast period. Consumers in industrialized economies are increasingly aware of the health benefits of fortified foods, which is a driving force behind the market for these products.

A significant amount of progress has been achieved in the area of food fortification across Africa. In order to prevent and control micronutrient deficiencies, more countries are supporting staple food fortification, in addition to capacity building and system strengthening.

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A fortified food or condiment is that which contains one or more micronutrients intentionally added to improve health and nutritional quality, while posing minimal health risks. The addition of micronutrients can increase the nutritional value of staple foods as well as help restore micronutrients lost during processing.

The World Health Organization (WHO) and the Food and Agriculture Organization (FAO) define food fortification as the deliberate addition of necessary micronutrients and vitamins to food to make it more nutritious. Business owners, however, have the opportunity to tap into the growing economies of Asia and the Pacific. North America and other developed regions are also predicted to continue to drive demand for these products.

With the prevalence of chronic diseases and nutrient deficiencies, consumers are increasingly seeking foods that contain essential nutrients and support specific health goals. As fortified foods are highly convenient, marketable, and strategically positioned, modern trade outlets are valuable drivers of growth.

A variety of fortified foods are being developed by manufacturers that meet the various preferences and dietary restrictions of consumers, such as vegan, gluten-free, and dairy-free diets. Fortified foods are increasingly containing functional ingredients such as probiotics, prebiotics, antioxidants, and botanical extracts to make them more nutritious, functional, and tasty. A number of health benefits have been linked to these ingredients, including improving gut health, boosting immunity, and preventing disease.

With the continual advancements in drying technology, including freeze-drying, spray drying, and vacuum drying, it is anticipated that these advances will lead to improving efficiency, cost-effectiveness, and better retention of the nutrient content of the crops. There is a possibility that consumers will find it more appealing to consume fortified foods produced through these methods.

Key Takeaways from the Market Study

The fortified foods market is estimated to reach US$ 207,352.6 million by 2032.
A CAGR of 2.5% was recorded between 2018 and 2022 for fortified foods.
Japanese sales accounted for 5% of the global market in 2022.
According to analysts, the market for fortified foods in the United Kingdom grew by 2.5% in 2022.
The micronutrient market for vitamin D is forecast to dominate during the forecast period.
Yogurt with added vitamins is expected to gain popularity in the coming years.

"Innovation and the development of new products will fuel fortified food market growth. A rising number of government initiatives and research and development activities are expected to drive growth in the market," says an FMI analyst.

Competitive Landscape

More companies are collaborating and establishing strategic partnerships in the fortified foods industry.

Fortified food companies conduct research and development, innovate, develop products, expand geographically, and establish strategic partnerships.

In July 2023, Big G breakfast cereals will contain double the amount of vitamin D as they currently do, providing 20% of the daily dose of vitamin D. The first cereals to include the vitamin boost are Cinnamon Toast Crunch and Cheerios; later this summer, Cocoa Puffs, Lucky Charms, Trix, and Cookie Crisp will follow. By the end of this year, the company plans to offer a full line of vitamin D-fortified cereals nationwide.
In August 2023, the Directorate of Food and Civil Supplies will collaborate with PATH, its technical partner, to raise awareness about plastic rice circulating on social media.
Know More about What the Fortified Foods Market Report Covers

Future Market Insights offers an unbiased analysis of the global fortified foods market, providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033.

To understand opportunities in the fortified foods market, the market is segmented based on raw material, micronutrients, application, technology, and sales channel industry type across six major regions.

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Fortified Foods Market by Category

By Raw Material:

Flours
Rice Flour
Wheat Flour
Corn Flour
Rice
Salt
Milk
Oil
Sugar

By Micronutrients:

Vitamins
Vitamin A
Vitamin B
Vitamin C
Vitamin D
Other Vitamins
Minerals
Calcium
Iron
Zinc
Iodine
Other Minerals
Ther Fortifying Nutrients

By Application:

Basic Food
Cheese
Butter
Yoghurt
Others
Processed Food
Extruded Products
Powdered Products
Value added Food
Condiments
Juice

By Technology:

Drying
Oven Drying
Drum Drying
Spray Drying
Extrusion
Coating & Encapsulation
Others

By Sales Channel:

Modern Trade
Online Sales
Neighborhood Stores
Other Retail Format

By Region:

North America
Latin America
Western Europe
Eastern Europe
South Asia & Pacific
East Asia
The Middle East & Africa

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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

This release was published on openPR.