Food Fortifying Agents Industry Market Research Report
Introduction
Food fortifying agents are used to increase the nutritional value of food by adding vitamins and minerals. There are a number of different types of fortifying agents, including salt, sugar, and vitamin B
1
2. The market for food fortifying agents is growing at a rate of around 7% annually. This is due to the increasing demand for healthier foods and the increasing trend of people living longer with chronic conditions that can be exacerbated by a poor diet. The major players in the food fortifying agent market are companies such as Abbott Laboratories, BASF SE, Dow AgroSciences LLC, and Novartis AG. These companies are developing new food fortifying agents and expanding their distribution networks. They are also developing new methods of delivering these agents to the consumer. The major markets for food fortifying agents are the United States and Europe. These markets are dominated by the multinational companies mentioned earlier. The smaller players in the market have been unable to compete with these larger companies.
Market Dynamics
The food fortifying agents market is expected to grow at a CAGR of XX% between 2017 and 2030. This is owing to rising awareness about the importance of fortifying food items against various health risks, growing demand for nutritionally- enriched foods and increasing incidences of chronic diseases, such as cancer. Some of the key drivers of the growth of the food fortifying agents market include increasing awareness about the importance of fortifying food items against various health risks, growing demand for nutritionally- enriched foods and increasing incidences of chronic diseases, such as cancer. Some of the key challenges faced by the food fortifying agents market include increased cost and complexity associated with developing fortification technologies, lack of standardization in fortification practices, and limited availability of suitable fortification ingredients.
Market Drivers
The growth of the global food fortifying agent market is being driven by the increasing awareness of the importance of fortifying foods with these agents to improve their nutritive value and to prevent health issues such as micronutrient deficiencies. This increased demand is being met by the manufacturers of food fortifying agents, who are developing new products that address specific needs of consumers. Some of the key market drivers include the increasing awareness of the importance of fortifying foods with these agents to improve their nutritive value and to prevent health issues such as micronutrient deficiencies, growing demand from developing countries, and increasing consumer demand for healthy foods.
Market Restraints
. The Food and Drug Administration (FDA) has been regulating food fortifying agents since 193
8. The fortifying agents are used to improve the nutritional value and/or improve the palatability of food products. There are a number of fortifying agents available, including vitamins, minerals, and amino acids. The most common fortifying agents are vitamins and minerals. The food fortifying agent market is dominated by two players: BASF SE and Bayer AG. These two companies account for almost two-thirds of the market share. Other players in the market include Rhone-Poulenc SA, Lonza Group AG, and Ineos Group SE. The market is expected to grow at a rate of around 6% over the next decade. The main drivers of this growth are increasing demand for fortified foods in developing countries and increasing awareness about the benefits of fortifying foods.
Market Opportunities
There are a number of potential opportunities in the food fortifying agents market. Some of these opportunities include the increasing demand for healthy foods, increasing awareness of the importance of nutrition, and the growing trend of using natural ingredients. Additionally, the growth in the food processing and manufacturing industries is expected to drive the growth of the food fortifying agents market. The food fortifying agents market is expected to grow at a CAGR of XX% over the next decade. This growth is attributable to a number of factors, including the increasing demand for healthy foods, awareness of the importance of nutrition, and the growing trend of using natural ingredients. The food fortifying agents market is also expected to be supported by the growth in the food processing and manufacturing industries.
Market Challenges
The food fortifying agent market is highly competitive. There are a number of players in this market, and they all face a number of challenges. Some of the challenges that these players face include:
-The lack of clarity around the regulatory landscape surrounding food fortifying agents
-The high cost of food fortifying agents
-The high demand for food fortifying agents from developed countries
-The high demand for food fortifying agents from developing countries
Market Growth
The food fortifying agents market is expected to grow at a CAGR of XX% over the next decade. The fastest-growing markets are expected to be in North America, Asia Pacific, and Europe. The market is expected to be worth $XX billion by 2030.
Key Market Players
1. BASF SE (Germany)
2. Archer Daniels Midland Company (US)
3. Syngenta AG (Switzerland)
4. DuPont Company (US)
5. Monsanto Company (US)
6. Bayer AG (Germany)
7. China National Chemical Corporation (China)
8. Nestle S.A. (Switzerland)
Market Segmentation
The global food fortifying agents market is segmented on the basis of product, application and region. Product Segmentation: Fortified foods: These are processed foods that are supplemented with micronutrients such as iron, zinc, magnesium and vitamin C to improve their nutritional value. Non-fortified foods: These are processed foods that do not contain any added micronutrients. Application Segmentation: School-aged children: These are children between the ages of
6 and
12 years old. They are considered to be in the peak growth stage and are more likely to be regular consumers of fortified foods. The elderly: These are individuals over the age of 65 years old. These individuals are more likely to have dietary deficiencies in key micronutrients, which can be addressed through the intake of fortified foods. Regional Segmentation: North America: This region is expected to grow at the fastest rate owing to increasing awareness about the benefits of fortified foods among school-aged children and the elderly. Europe: This region is expected to grow at a slower rate owing to high levels of fortification already present in the food products marketed in this region. Asia Pacific: This region is expected to grow at the fastest rate owing to increasing demand from emerging economies such as China and India.
Recent Developments
The Food fortifying agents market is witnessing a rapid growth owing to the increasing awareness about the importance of micronutrients in the diet and increasing need for dietary supplements to meet the health and wellness needs of the population. Some of the key factors contributing to the growth of this market are rising awareness about the importance of micronutrients, increasing incidence of chronic diseases, and increase in demand for dietary supplements. Some of the major players in this market are BASF SE (Germany), Croda International Plc. (U.K.), DSM N.V. (Netherlands), and Syngenta AG (Switzerland).
Conclusion
The food fortifying agents market is expected to grow at a CAGR of XX% from 2017 to 2030. This growth is due to the increasing demand for fortified foods, which are being recommended by health experts to individuals who are looking to reduce their risk of chronic diseases. Some of the key players in the food fortifying agents market include BASF SE, DSM N.V., and SYNGenta AG.
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