The global fortified food market is projected to witness a CAGR of 6.71% during the forecast period to reach a total market size of US$167.060 billion by 2027, increasing from US$106.040 billion in 2020.
Fortified foods are those that have nutrients and vitamins added to them. These foods are intended to boost nutrition and provide additional health advantages. The children and geriatric population depend primarily on these types of food for their need for extra nutrients. Fortification of food is an effective solution adopted by the national governments across the world to improve the nutritional status of the population, and it is closely associated with the economic benefits of the country.
Fortified foods have yielded benefits to older adults, pregnant ladies, and lactating mothers. Malnourishment, rickets, and pellagra are commonly seen among children, especially in the less developed nations. These enriched foods have shown positive results in eliminating these diseases substantially. Additionally, the iron, zinc, and B vitamins required for child development are provided by these sources. These advantages are some of the critical drivers operating in the market. Moreover, the growing incidences of diabetes, adoption of a vegan lifestyle, and specialized diet plans are furthering the market ahead. Several research studies indicating the importance of breakfast have led to the wide adoption of fortified breakfast cereals and juices in the developed nations of the world.
Geographically, North America holds the largest share due to the high purchasing power of the population and the presence of key market players. However, the market in the Asia Pacific is expected to rise significantly owing to rapid urbanization and changing lifestyles of people, especially in countries like China and India. By method, bio-fortification is the most accepted method of incorporating nutrients into food. By distribution channel, people rely mainly on supermarkets and hypermarkets to consume fortified foods as they house several brands under one roof.
The market is primarily being driven by an increase in consumer health consciousness. People across the countries are improving their lifestyles as it tends to benefit them over the long run by improving their immune systems and making them less prone to disease. According to WHO mortality data, around 0.8 million deaths (1.5 percent of the total) can be attributed to iron deficiency each year, a similar number to vitamin A deficiency, and contributes to a significant number of lives lost. The presence of a wide range of products and advancements in food products will continue to generate new opportunities for the fortified food market. The increasing prevalence of obesity among the young population has also propelled the market. People consciously try to change their eating habits, often pushed by nutritionists and dieticians and the growth of health-related web content.
Government organizations’ assistance has also fostered market growth. Food fortification, for example, has been acknowledged by the Food and Agricultural Organization (FAO) and the World Health Organization (WHO) as one of the important ways to eliminate widespread malnutrition, particularly in developing countries. Less developed nations from the regions of East Africa, India, Bangladesh, and Pakistan, to name a few, have adopted national policies for nutrition to reduce their mortality rates. Iodized salts and fortified crops are some of the common examples. Moreover, the right to food is also recognized in the 1948 Universal Declaration of Human Rights and is enshrined in the 1966 International Covenant on Economic, Social, and Cultural Rights. These plans and policies are a major growing force behind the fortified food market.
Impact of COVID–19 on the Fortified Foods Market:
The COVID-19 epidemic has had a detrimental impact on the food sector due to the immobility of production elements on the supply side and a lack of raw materials. Due to the lockdowns enforced in various countries, the distribution channels also experienced lags. However, studies urging people to minimize the pandemic’s risks by ingesting zinc and vitamin C have resulted in a dramatic shift in eating patterns. A considerable increase in demand for enhanced foods is expected over the forecast period.
The market leaders for the Global Fortified Food Market are Mother Dairy, BASF, Nestle, Kellogg Company, Danone, Cargill, Inc., Koninklijke DSM NV, General Mills, Inc., Tata Group, and Bunge Limited.
|Market size value in 2020||US$106.040 billion|
|Market size value in 2027||US$167.060 billion|
|Growth Rate||CAGR of 6.71% from 2020 to 2027|
|Forecast Unit (Value)||USD Billion|
|Segments covered||Method, Micronutrient, Distribution Channel, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||BASF, Nestle, Danone, Kellogg Company, Cargill, Inc., Tata Group, Koninklijke DSM NV, General Mills, Inc., Bunge Limited|
|Customization scope||Free report customization with purchase|
Frequently Asked Questions (FAQs)
Q1. What will be the fortified food market size by 2027?
A1. The global fortified food market is projected to reach a total market size of US$167.060 billion by 2027.
Q2. What is the size of the global fortified food market?
A2. Fortified Foods Market was valued at US$106.040 billion in 2020.
Q3. What are the growth prospects for the fortified food market?
A3. The fortified food market is projected to witness a CAGR of 6.71% during the forecast period.
Q4. Which region holds the largest market share in the fortified food market?
A4. Geographically, North America holds the largest share in the fortified food market due to the high purchasing power of the population and the presence of key market players.
Q5. What factors are anticipated to drive the fortified food market growth?
A5. The fortified food market is primarily being driven by an increase in consumer health consciousness.
Koninklijke DSM NV
General Mills, Inc.
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