Biofortifications Market 2024-2031: Industry Size, Share, Growth Trends, Leading Players Forecast by 2031 - HarvestPlus, International Rice Research Institute

DataM Intelligence has released a new research report on the Biofortifications market. The report provides a detailed analysis of current and emerging trends, offering insights into the market dynamics. It utilizes Porter's Five Forces model to assess key factors such as supplier and customer relationships, risks from various agents, competitive intensity, and opportunities for new entrants. The study also includes research data from various companies, analyzing factors like benefits, gross margins, and strategic decisions in the global market. The report is enriched with tables, charts, and infographics for a clear presentation of the findings.

The Global Biofortifications Market reached US$ 110.2 million in 2022 and is expected to reach US$ 221.5 million by 2031, growing with a CAGR of 9.1% during the forecast period 2024-2031.

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Biofortification is the process of increasing the nutritional value of crops through biological means, such as selective breeding or genetic modification. The goal is to enhance the concentration of essential vitamins and minerals, such as iron, zinc, and vitamin A, in staple foods like rice, wheat, maize, and legumes. This agricultural technique is aimed at improving the nutritional content of food at the source, thereby addressing micronutrient deficiencies in populations, particularly in regions with limited access to diverse diets. Biofortification helps combat malnutrition by providing more nutrient-rich food options without the need for external fortification during processing.

List of the Key Players in the Biofortifications Market:

HarvestPlus, International Rice Research Institute

Key Developments:

In February 2023, HarvestPlus Nigeria introduced its first national recipe book, titled Biofortified Crops on My Plate, featuring nutrient-enhanced foods. The goal of these programs is to scale up biofortified crop varieties through Krishi Vigyan Kendras (KVKs).

In April 2022, through KVKs, the Indian Council of Agricultural Research (ICAR) launched two programs: Sustainable Approaches for Nutritional Security and Nutritional Security and Health Promotion of Farm Families, aimed at advancing nutritional security.

In December 2022, Norwich Research Park launched an innovation hub for biofortification research, focused on raising the nutritional content of crops and food in the UK.

Also in December 2022, HarvestPlus and the Syngenta Foundation collaborated to develop biofortified crop value chains. The initiative aims to increase the availability of biofortified seeds and empower women to become key drivers of change throughout the value chain.

In October 2020, the Tanzanian government released the National Biofortification Guidelines, reaffirming its commitment to combat malnutrition and prevent nutrient deficiencies. These guidelines, developed in collaboration with Nutrition International, offer stakeholders guidance on managing agricultural value chain activities and were launched by the Ministry of Agriculture (MOA).

In September 2020, India's Bihar state launched the nation's first pilot project for community cultivation of biofortified wheat. The Rural Development Council (RDC) of Bihar selected Kurkribigha as the country's first model village for growing biofortified wheat.

Research Process:

Both primary and secondary data sources have been used in the global Biofortifications Market research report. During the research process, a wide range of industry-affecting factors are examined, including governmental regulations, market conditions, competitive levels, historical data, market situation, technological advancements, upcoming developments, in related businesses, as well as market volatility, prospects, potential barriers, and challenges.

Segment Covered in the Biofortifications Market:

By Crop: Sweet Potato, Cassava, Rice, Corn, Wheat, Beans, Pearl Millet, Others

By Targeted Nutrient: Iron, Zinc, Vitamins, Amino Acid, Others

By Gene Pool: Primary, Secondary, Tertiary

By Technique: Conventional Plant Breeding, Agronomy, Genetic Technology

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Regional Analysis:

➣ North America (US, Canada, Mexico)

➣ Europe (Germany, Russia, UK, France, Italy, Spain, Rest of Europe)

➣ Asia-Pacific (China, India, Japan, Australia, Rest of Asia Pacific)

➣ South America (Brazil, Argentina, Rest of South America)

➣ Middle East and Africa

**The full version of the report includes an in-depth analysis of emerging players and startups, which will provide valuable insights into the evolving market landscape and key strategies being adopted**

Chapter Outline:

⏩ Market Overview: It contains five chapters, as well as information about the research scope, major manufacturers covered, market segments, Biofortifications market segments, study objectives, and years considered.

⏩ Market Landscape: The competition in the Global Biofortifications Market is evaluated here in terms of value, turnover, revenues, and market share by organization, as well as market rate, competitive landscape, and recent developments, transaction, growth, sale, and market shares of top companies.

⏩ Companies Profiles: The global Biofortifications market's leading players are studied based on sales, main products, gross profit margin, revenue, price, and growth production.

⏩ Market Outlook by Region: The report goes through gross margin, sales, income, supply, market share, CAGR, and market size by region in this segment. North America, Europe, Asia Pacific, Middle East & Africa, and South America are among the regions and countries studied in depth in this study.

⏩ Market Segments: It contains the deep research study which interprets how different end-user/application/type segments contribute to the Biofortifications Market.

⏩ Market Forecast: Production Side: In this part of the report, the authors have focused on production and production value forecast, key producers forecast, and production and production value forecast by type.

⏩ Research Findings: This section of the report showcases the findings and analysis of the report.

⏩ Conclusion: This portion of the report is the last section of the report where the conclusion of the research study is provided.

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The Research Report Offers Answers To The Following Questions:

☛ What is the expected growth rate of the global market for the forecast period?

☛ What are the key driving factors that are responsible to shape the fate of the Biofortifications market during the forecast period?

☛ What will be the overall size of the market during the analysis period?

☛ What are the prominent market trends which influence the development of the Biofortifications market across various regions?

☛ Who are the key market players and the market strategies that have helped them to secure the leading position in the global market?

☛ What are the challenges and threats that are likely to act as a barrier to the growth of the Biofortifications market?

☛ What are the major opportunities that the companies can get to attain success in the world?

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