Biofortification market is projected to grow at a CAGR of 7.32% to reach US$153.527 million by 2024, from US$100.483 million in 2018. Biofortification is the process to improve the nutritional quality of food crops through agronomic practices, conventional plant breeding, or modern biotechnology. The process aims to increase nutrient levels in crops during plant growth. The major driver of biofortification market is the advancement in agricultural technologies along with rising investments and funding to develop innovative agronomic practices. Rising consumer awareness about healthy diets is also boosting the demand for biofortification so as to increase the nutritional content in foods.
This research study examines the current market trends related to the demand, supply, and sales, in addition to the recent developments. Major drivers, restraints, and opportunities have been covered to provide an exhaustive picture of the market. The analysis presents in-depth information regarding the development, trends, and industry policies and regulations implemented in each of the geographical regions. Further, the overall regulatory framework of the market has been exhaustively covered to offer stakeholders a better understanding of the key factors affecting the overall market environment.
Identification of key industry players in the industry and their revenue contribution to the overall business or relevant segment aligned to the study have been covered as a part of competitive intelligence done through extensive secondary research. Various studies and data published by industry associations, analyst reports, investor presentations, press releases and journals among others have been taken into consideration while conducting the secondary research. Both bottom-up and top down approaches have been utilized to determine the market size of the overall market and key segments. The values obtained are correlated with the primary inputs of the key stakeholders in the Biofortification value chain. The last step involves complete market engineering which includes analyzing the data from different sources and existing proprietary datasets while using various data triangulation methods for market breakdown and forecasting.
Market intelligence is presented in the form of analysis, charts, and graphics to help the clients in gaining faster and efficient understanding of the Biofortification market.
Major industry players profiled as part of the report are Syngenta, MAURO SEED CO., HarvestPlus, Bayer, and BASF among others.
The Biofortification market has been analyzed through following segments:
By Target Nutrient
Middle East and Africa