Food Fortifying Agents Market Growth Factors, Segmentation, Trends, Opportunities, Key Players and Forecast | Evolve Business Intelligence

Key Highlights:
• The global Food Fortifying Agents Market size was valued at USD 11.54 billion in 2023 growing at a CAGR of 7.58% from 2023 to 2033.
• North America dominated the market in 2023
• Asia Pacific is expected to grow at the highest CAGR from 2023 to 2033

As per the study initiated by Evolve Business Intelligence, the global Food Fortifying Agents Market size accounted for USD 11.54 Billion in 2023, growing at a CAGR of 7.58% from 2023 to 2033. Food fortifying agents are substances added to food products with the purpose of increasing their nutritional content by enhancing the levels of essential vitamins, minerals, or other beneficial compounds. These agents are employed to address and prevent nutritional deficiencies in the population, contributing to improved public health. Common examples of food fortifying agents include vitamins like vitamin D, vitamin B12, and folic acid, as well as minerals such as iron and calcium. Fortification is often done in staple foods like cereals, flour, milk, and edible oils to ensure that individuals receive adequate amounts of key nutrients, especially in populations where certain nutritional deficiencies are prevalent. The process of fortification is carefully regulated to maintain the safety and efficacy of the added nutrients in the food supply.

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The Food Fortifying Agents market is primarily driven by increasing awareness of nutritional deficiencies, a rising focus on preventive healthcare, and government initiatives promoting fortification as a cost-effective strategy to address micronutrient deficiencies in the population.

Key Players
Some of the major Food Fortifying Agents Market players holding high market shares include BASF SE, Koninklijke DSM N.V., Archer Daniels Midland Company (ADM), FMC Corporation, Nestlé S.A. These players use partnership and collaboration as a key strategy to gain significant market share to compete with market leaders. Some of the other major market players include Cargill, Incorporated, Tate & Lyle PLC, Ingredion Incorporated, Glanbia plc, DuPont de Nemours, Inc.

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Segmental Analysis
Based on Type, the Food Fortifying Agents market is segmented into Proteins & Amino Acids, Vitamins, Lipids, Prebiotics & Probiotics, Carbohydrates, Minerals, and Others. The dominance of the Proteins & Amino Acids segment in the Food Fortifying Agents market is attributed to the growing consumer emphasis on protein-rich diets, coupled with increased awareness of the importance of amino acids in supporting overall health and well-being, driving the demand for fortified food products.
Based on End Users, the Food Fortifying Agents market is Infant Formula, Dairy & Dairy-based Products, Cereals & Cereal-based Products, Fats & oils, Beverages, Dietary supplements, and Others. The projected high CAGR in the Infant Formula segment is attributed to rising global birth rates, increased awareness of the importance of early nutrition, and the growing trend of incorporating essential vitamins, minerals, and other fortifying agents in infant formula to ensure optimal infant development and health.

Key Region/ Countries Covered
• North America (US, Canada, Mexico)
• Europe (Germany, U.K., France, Italy, Spain, Russia, Nordic Countries, BeNeLux, Rest of Europe)
• Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Rest of Asia Pacific)
• Middle East and Africa (Saudi Arabia, UAE, Egypt, South Africa, Rest of MEA)
• Latin America (Mexico, Brazil, Argentina, Rest of Latin America)

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