According to Future Market Insights (FMI), the global mineral fortification market is set to witness growth at a CAGR of 7.1% and is anticipated to reach a valuation of around US$ 137.2 Bn by 2032.
The technique of adding minerals to regularly consumed foods to boost their nutritional value is known as a mineral fortification. It’s a tried-and-true, safe, and cost-effective strategy for improving diets and avoiding and treating micronutrient deficiencies.
The global mineral fortification sector has seen significant growth in recent years as a result of the growing consumption of mineral-enriched meals. Rising health concerns and an increase in illness rates are the key drivers of the mineral fortification market throughout the forecast period. According to FMI, between 2017 and 2021, the market grew at a CAGR of 6.7%.
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In response to the rising prevalence of nutritional deficiencies, particularly in developing countries, food fortification programs have evolved as public health initiatives. In statistical investigations, iodine fortification has been demonstrated to reduce the incidence of goiter by approximately 90%.
Mineral fortification is a cost-effective technique for improving population nutrition, and it has significant economic benefits. Micronutrients are repeatedly scored as the most cost-effective development intervention, with huge returns for a modest cost, according to reviews such as the Copenhagen Consensus.
Key Takeaways from Market Study
- Based on mineral type, the calcium mineral fortification is anticipated to account for around 28.9% of the market share over the forecast period.
- North America mineral fortification market is expected to witness a lucrative growth rate of 6.8% CAGR during the forecast period.
- East Asia is projected to account for 19.3% of the global mineral fortification consumption through 2032.
- Based on end-use, the food segment is anticipated to account for around 39.8% of the market share over the forecast period.
“Key manufacturers are adopting strategies such as product branding and positioning to gain revenue. They are capitalizing on growing preference for healthy and staple food products. This is expected to create remunerative growth opportunities for the mineral fortification market.” says a Future Market Insights analyst.
Competitive Landscape
Some of the leading players operating in the global mineral fortification market include, Koninklijke DSM NV, The Archer Daniels Midland Company, BASF SE, Cargill Incorporated, Merck & Co. Inc., DuPont de Nemours Inc., DSM Nutritional Products, ABBOTT LABORATORIES, General Mills, Albion Minerals., The Proctor and Gamble Company, Specialty Minerals Inc., Heinz, Kellogg’s., Pestell Nutrition Inc, Wright Group, And Fortitech Inc., among others.
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Explore More Valuable Insights
Future Market Insights, in its new report, offers an impartial analysis of the global Mineral Fortification market, presenting historical data (2017-2021) and estimation statistics for the forecast period of 2022-2032.
Mineral Fortification Market by Category
By Mineral Type:
- Calcium
- Iron
- Zinc
- Iodine
- Other Minerals
By End-use Application:
- Food
- Beverage
- Dietary Supplement
- Animal Feed
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- The Middle East and Africa
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About FMI
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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