Fortified Foods Market Size & Share Analysis Report, 2027

 

Fortified Food Market

The Fortified Food Market was valued around USD 163 million in 2019 and is predicted to grow at a CAGR of 5.7% over the forecast period (2020-2027).

The factors driving the growth of Fortified Food Market includes rising consumers consciousness towards adopting healthy lifestyles, growing acceptance to food fortification techniques by reputed organizations and increasing cases of Anemia in woman across the globe. According to the report published by Hindustan Times, Anemia in woman between the age group 15 and 49 years has increased from 57% from 53.1% and in pregnant woman, it has risen from 50.4% to 52.2%, which is pushing the demand for fortified food products across the world. As per the Fortified Food Market Forecast, growing awareness about the benefits of fortified foods, rise in the vegan population, Government initiatives to promote consumption of fortified food, improvements in the living standards and increasing popularity of infant formula products, are some of the additional factors supplementing the market growth. According to the report published by Bloomberg, the Global Infant Formula Market was valued around USD 38.17 billion in 2021 is estimated to reach USD 85.3 billion by the end of 2030, expanding at a CAGR of 10% during the forecast period (2022-2030), which will boost the market growth in the approaching years.

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However, the growth of Fortified Food Market is hindered due to low feasibility for profitable distribution of fortified food in the rural areas.

The major players operating in the Fortified Food Market are Nestlé S.A., Unilever Company, BASF SE, Dean Foods Company, Kraft Foods Inc., Kellogg Company, Tata Chemicals Limited, Mondelez International, Meiji Holdings Company, Ltd., General Mills Inc., and Cargill Incorporated, among others.

Technology: Segment Analysis

Based on Technology, the Drying segment is expected to expand at a significant CAGR during the forecast period attributed to increasing use of extrusion technology in the food and beverage industry for mixing, forming, and cooking.

Raw Materials: Segment Analysis

Based on Raw Materials, the Raw Materials segment is estimated to expand at a robust CAGR over the forecast period because the rice flour minimizes the risk of iron deficiency and helps to cure health problems.

Distribution Channel: Segment Analysis

Based on Distribution Channel, the Hypermarkets segment is projected to hold the highest market share over the forecast period because the hypermarkets offer wide variety of fortified food and provides free home delivery to its customers.

Regional: Segment Analysis

 Based on Region, the North American region is estimated to capture the largest market share during the forecast period. Growing demand for processed food products, rising awareness amongst millennials about the health benefits of fortified food, increasing population growth rates and high per capita incomes, are some of the important factors propelling the market growth in North America.

Market Segmentation

Global Fortified Food Market by Food Type

  • Basic Foods
    • Yogurt
    • Cheese
    • Butter
    • Others
  • Processed Foods
    • Extruded Products
      • Snacks
      • Pasta
    • Powdered Products
      • Infant Formula
      • Powdered Beverages
    • Processed Juices
    • Others

Global Fortified Food Market by Micronutrient

  • Vitamins
    • Vitamin A
    • Vitamin B
    • Vitamin C
    • Vitamin D
    • Others
  • Minerals
    • Calcium
    • Iron
    • Zinc
    • Others
  • Others

Global Fortified Food Market by Technology

  • Drying
    • Oven Drying
    • Drum Drying
    • Spray Drying
  • Extrusion
  • Coating & Encapsulation
  • Others

Global Fortified Food Market by Raw Materials

  • Flours
    • Corn Flour
    • Wheat Flour
    • Rice Flour
  • Rice
  • Salt
  • Milk
  • Others

Global Fortified Food Market by Distribution Channel

  • Specialized Stores
  • Hypermarkets
  • Online
  • Others

Global Fortified Food Market by Region

  • Asia Pacific
    • China
    • Japan
    • India
    • Rest of APAC
  • North America
    • United States of America
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Spain
    • Rest of Europe
  • RoW
    • Brazil
    • South Africa
    • Saudi Arabia
    • UAE

About GMI Research

GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.

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