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Food Fortifying Agents Market Share, Forecast 2024-2033
Food Fortifying Agents
Food Fortifying Agents Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $7.54 billion In 2028 At A CAGR Of 13.1% :
The food fortifying agents market size has grown rapidly in recent years. It will grow from $96.19 billion in 2023 to $109.24 billion in 2024 at a compound annual growth rate (CAGR) of 13.6%. The growth in the historic period can be attributed to nutritional deficiency awareness, government mandates and regulations, health and wellness trends, increased consumer awareness, global malnutrition concerns.
The food fortifying agents market size is expected to see rapid growth in the next few years. It will grow to $185.12 billion in 2028 at a compound annual growth rate (CAGR) of 14.1%. The growth in the forecast period can be attributed to economic development goals, sustainable fortification practices, customization and personalization, global food supply chain integration, nutritional deficiency awareness. Major trends in the forecast period include advanced fortification technologies, fortification of convenience foods, global nutrition initiatives, sports nutrition and performance enhancement.
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Food Fortifying Agents Market Major Segments
The food fortifying agents market covered in this report is segmented -
1) By Type: Minerals, Vitamins, Lipids, Carbohydrates, Proteins And Amino Acids, Prebiotics, Probiotics, Other Types
2) By Process: Powder Enrichment, Premixes And Coatings, Drum Drying, Dusting, Spray Drying Under Microencapsulation Process
3) By Application: Cereals And Cereal-Based Products, Dairy And Dairy-Based Products, Fats And Oils, Bulk Food Items, Beverages, Infant Formula, Ditetary Supplements, Other Applications
Key Driver - Surge In Chronic Diseases Drives Growth In The Food Fortifying Agents Market
The increasing prevalence of chronic diseases is driving the food fortifying agents market going forward. Chronic diseases are ongoing illnesses or conditions, such as heart disease, cancer, asthma, and diabetes that can be managed through early detection, exercise, improved diet, and treatment therapy. With the rising chronic diseases, the consumer demand for healthy food is increasing, which leads to propelling the food fortifying agents market. For instance, according to the Partnership to Fight Chronic Disease (PFCD), a US-based, internationally recognized organization, chronic diseases are expected to affect nearly 49% of the total population, an estimated 164 million Americans by 2025. Therefore, the increasing prevalence of chronic diseases will promote the food-fortifying agents market.
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Prominent Trend - Nestlé Health Science Introduces Innovative Probiotics In Solid Beverage Form To Support Child Growth
Product innovation is a key trend in the food fortifying agents market. Major players in the market are focusing on launching innovative products to increase their product portfolio and consumer base. For instance, in September 2022, Nestlé Health Science, a Switzerland-based leader in the field of nutritional science launched two new probiotics in the form of solid beverages in China to support growth and address allergies in kids. The probiotic strains added include Lacticaseibacillus rhamnosus GG, Bifidobacterium animalis BB-12, Lacticaseibacillus rhamnosus HN001, and Bifidobacterium lactis HN019. These contain prebiotics, the higher number of live bacteria at 20bn Colony Forming Units (CFU), vitamin C, and zinc. These probiotics do not contain common allergens such as dairy, fragrances, lactose, and preservatives.
Food Fortifying Agents Market Players
Major companies operating in the food fortifying agents market report are Koninklijke DSM N.V., Chr. Hansen A/S, BASF SE, DuPont de Nemours Inc., Tate & Lyle Plc., Ingredion Incorporated, Archer Daniels Midland Company, Nestle SA, The Kellogg Company, Advanced Organic Materials, A&B Ingredients Inc., Royal Cosun, Stratum Nutrition, Wenda Ingredients LLC, ABF Ingredients, Biothera Pharmaceuticals Inc., Cargill Incorporated, FMC Corporation., Glanbia plc., Zhejiang Garden Biochemical High-tech Co. Ltd, Kerry Group plc., Koninklijke DSM N.V., Lonza Group AG, Nutralliance Inc., Nutrifusion LLC, Prinova Group LLC, Sensus B.V., SternVitamin GmbH & Co. KG, Roquette Frères, The Wright Group
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Largest And Fastest Growing Region In The Market
North America was the largest region in the food fortifying agents market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the food fortifying agents market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Food Fortifying Agents Market Report Structure
3. Food Fortifying Agents Market Trends And Strategies
4. Food Fortifying Agents Market - Macro Economic Scenario
5. Food Fortifying Agents Market Size And Growth
…..
27. Food Fortifying Agents Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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