The Global Fortifying Agent Market size is forecast to reach $37.81 billion by 2025, growing at a CAGR of 5.68% during the forecast period 2020-2025. The growing demand for healthy food, along with the increasing health awareness among consumers is the major factor driving the growth of the market. The rapid adoption of fortifying agents in the food processing industry for better functional and nutritious attributes is set to further enhance the overall market demand for the Global Fortifying Agent Market during the forecast period 2020-2025.
Global Fortifying Agent Market Segment Analysis - By Type
The Amino Acid held the largest share in the Global Fortifying Agent Market in 2019 and is estimated to grow at a CAGR of 6.27% during the forecast period 2020-2025. Amino acids are the structural units that makeup protein. They join to form short polymer chains called peptides or longer chains called either polypeptides or proteins. These polymers are linear and unbranched, with each amino acid within the chain attached to two neighbouring amino acids. Vitamins are organic compounds that are needed in small quantities to sustain life. Most vitamins need to come from food as the human body either does not produce enough of them, or it does not produce any at all. Each organism has different vitamin requirements. The Amino Acid is set to be the highest growing segment and is estimated to register the highest CAGR during the forecast period 2020-2025.
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Global Fortifying Agent Market Segment Analysis - By Applications
Dairy & Dairy-Based Products held the largest share in the Global Fortifying Agent Market in 2019. Dairy products are generally defined as food products that are produced from milk. They are rich sources of energy. Dairy products and alternatives such as calcium-fortified soy products are nutritious foods and provide benefits when consumed as part of a nutritionally balanced diet. Cereals and cereal products are significant and important human food resources and livestock feeds worldwide. The main cereal grains used for foods include corn (maize), wheat, barley, rice, oats, rye, millet, and sorghum. Dairy & Dairy-Based Products is set to be the highest growing segment and is estimated to register the highest CAGR during the forecast period 2020-2025.
Global Fortifying Agent Market Segment Analysis - Geography
North America dominated the Global Fortifying Agent Market in 2019 with a share of more than 37.40%, followed by the Asia Pacific owing to the rise in chronic diseases and obesity problem consumer prefers healthy food.
However, Asia Pacific is estimated to grow at a higher CAGR during the forecast period 2020-2025 owing to the increasing awareness among consumers that dietary supplements with fortified nutrients are highly beneficial for the overall development of the human body is leading manufacturers to use fortified agents in their products.
Global Fortifying Agent Market Drivers
Rapid innovations in the food fortifying industry and increasing awareness regarding consumption of high quality healthy foods
Rapid innovations in the food fortifying industry and increasing awareness regarding the consumption of high-quality healthy foods are increasing the growth of the Global Fortifying Agent Market. High-quality foods include unrefined, minimally processed foods such as vegetables and fruits, whole grains, healthy fats, and healthy sources of protein. Losing weight can help to reduce the risk of chronic conditions. If a person is overweight or obese, they have a higher risk of developing heart disease, poor bone density, and cancers. Whole vegetables and fruits are lower in calories than most processed foods. A person looking to lose weight should reduce their calorie intake to no more than what they require each day. Maintaining a healthful diet free from processed foods can help a person to stay within their daily limit without having to count calories. Thus, increasing the growth of the Global Fortifying Agent Market during the forecast period 2020-2025.
Consumer prefer healthy food owing to the rise in chronic diseases and obesity problem
Consumer prefers healthy food owing to the rise in chronic diseases and obesity problem is increasing the growth of the Global Fortifying Agent Market. Coronary artery disease (CAD), ischemic stroke, diabetes, and some specific cancers, which until recently were common only in high-income countries, are now becoming the dominant sources of morbidity and mortality worldwide. Chronic diseases are largely preventable through a healthy lifestyle involving a balanced diet and regular physical activity, fat intake should represent 15 to 30% of total dietary energy intake, free sugars, such as those found in soft drinks and many processed foods, should account for less than 10% of total energy intake. In general, a lifestyle combining physical activity with food variety and social interaction is the best way to reduce the risk of developing chronic diseases. Thus, increasing the growth of the Global Fortifying Agent Market during the forecast period 2020-2025.
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Global Fortifying Agent Market Challenges
The high cost of food fortifying agents
Some of the factors that are set to impede the growth of the Global Fortifying Agent Market are the high cost of food fortifying agents.
Global Fortifying Agent Market Industry Outlook
Product launches, mergers and acquisitions, joint ventures, and R&D activities are key strategies adopted by players in the Global Fortifying Agent Market. In 2019, the Global Fortifying Agent Market share is consolidated by the top ten players present in the market. Global Fortifying Agent Market, the top 10 companies are DuPont, Kerry Group PLC, Associated British Foods PLC, Wiberg GmbH, Proliant Non-Meat Ingredients, Campus SRL, Wenda Ingredients, Laird Superfood, Advanced Food Systems, Inc., Aliseia SRL, and Redbrook Ingredient Services Limited among others.
Acquisitions/Product Launches
In November 2017, Laird Superfood has launched a powdered creamer, enriched with mineral complex Aquamin that compensates for tannin-induced absorption concerns.
Key Takeaways
North America dominated the Global Fortifying Agent Market in 2019 owing to the low health-index and increasing spending pattern of consumers for fortified food items.
Rapid innovations in the food fortifying industry and increasing awareness regarding the consumption of high-quality healthy foods coupled with alteration in health trends are likely to aid in the market growth of the Global Fortifying Agent Market.
Detailed analysis of the Strength, Weakness, and Opportunities of the prominent players operating in the market will be provided in the Global Fortifying Agent Market report.
The high cost of food fortifying agents is poised to create hurdles for the Global Fortifying Agent Market.
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