The global fortifying agents market is set to witness growth at a CAGR of 7.7% and is anticipated to reach a valuation of around US$ 168.9 Billion by 2032.
The market for fortifying agents is driven by rising consumer demand for nutritional supplements and healthy foods. Manufacturers are increasingly using fortified agents in their products as consumers become more aware of the benefits of dietary supplements with fortified nutrients for general human body development.
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Additionally, Iron deficiency anemia can be prevented by fortifying wheat and maize flour with zinc, iron, folic acid, and other minerals (IDA). Milk fortification aids in the recovery of micronutrients lost during the milk manufacturing process. The amount of micronutrients in food can be enhanced by fortification. The market demand is also expanding as a result of this.
Furthermore, one of the primary factors driving the growth of the nutritional food industry is the rising popularity of fortifying and nutritious food additives. Another factor driving the growth of the nutritional food market is increased public knowledge of the health advantages of prebiotics and probiotics. Growing demand for dietary supplements, as well as rising personal disposable income, would provide profitable growth prospects in the nutritional food sector.
Key Takeaways from Market Study
- The market is segmented based on agent type, wherein vitamin is anticipated to account for around 21.2% of the market share over the forecast period.
- The North American Fortifying Agents market is expected to witness a lucrative growth rate of 7.0% during the forecast period.
- East Asia is inferred to account for 22.4% of the global fortifying agent’s consumption through 2032.
- Fortifying Agents application in Beverages is expected to hold a market share of over 15.2% in the forecast period
“The market is driven by the multifunctionality of fortifying agents, as well as the increased demand from the food and beverage industry. However, rising raw material costs and rivalry among raw material suppliers, as well as rules governing the manufacture of food fortifying agents, are putting a damper on the market.” says a Future Market Insights analyst.
Competitive Landscape
Joint ventures, mergers & acquisitions, and other strategic initiatives are continually being pursued by market participants. Among the large firms trying to increase their global footprints and capacities are Archer Daniels Midland Company, and Royal DSM. In a fast-growing region like East Asia and South Asia, major firms are likewise attempting to diversify their product lines to get a competitive advantage over their competitors.
Explore More Valuable Insights
Future Market Insights, in its new report, offers an impartial analysis of the global fortifying agents market, presenting historical data (2017-2021) and estimation statistics for the forecast period of 2022-2032.
The study offers compelling insights based on agent type (probiotics, minerals, prebiotics, vitamins, carbohydrates, others), by form (powder, liquid, and granules), by application ((cereals & cereal-based products, dairy & dairy-based products, fats & oils, bulk food items, beverages, infant formula, dietary supplements, others (bakery, confectionery products, pet food, animal feed, and pet nutrition)) across seven major regions of the world.
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