Food Fortifying Agents Market – Trends Forecast Till 2030

Market Snapshot

Market Overview

The Global Food Fortifying Agents market size was estimated at USD 87.15 billion in 2023 and is projected to reach USD 168.75 billion in 2030 at a CAGR of 9.90% during the forecast period 2023-2030.

Food fortification is the practice of adding micronutrients to food products to improve their nutritional content. This is done to address micronutrient deficiencies in the population, which can lead to a number of health problems, including anaemia, blindness, and impaired cognitive development.

There are a number of different micronutrients that can be added to food, including vitamins, minerals and proteins. The most common micronutrients added to food are vitamin A, iron and iodine.

The global food fortifying agents’ market can be segmented by type, which includes vitamins, lipids, proteins, amino acids, prebiotics, probiotics, carbohydrates, minerals and others. Based on application the market can be bifurcated into dairy and dairy based products, infant formula, cereals and cereal based products, dietary supplements, fats and oil beverages and others.

The market is majorly being driven by the increasing awareness of food fortification, growing prevalence of chronic diseases and the rising disposable income of consumers.

The COVID-19 Pandemic had a positive impact on the global food fortifying agents’ market as people became more conscious while selecting foods. As people became more health conscious, there was an increase in the demand of plant-based nutrition which is sustainable and regenerative and food and beverages that provide a boost to the immunity which led to the growth of the market during COVID times.

Delvens Industry Expert's Standpoint

During the COVID-19 pandemic, people became more health conscious and shifted their focus towards selecting food and beverages that provided them with health benefits. This led to an increase in the sales of food fortifying agents and food and beverages that use food fortifying agents. Vitamin sector accounts for a major share in the market due to rise in chronic diseases due to vitamin deficiencies, increase in health care cost, increasing Do It Yourself Trend and increase in ageing population. Overall, the market is set to grow in the forecast years due to increasing awareness of people towards food fortification.

Market Portfolio

Key Findings

• The type segment is further bifurcated into proteins & amino acids, vitamins, lipids, prebiotics & probiotics, carbohydrates, minerals, and others. The vitamin segment is the largest segment, accounting for majority of the market share. This is due to widespread prevalence if vitamin deficiencies such as osteoporosis and rickets within the population.
   
• By application, the market is fragmented into infant formula, dairy & dairy-based products, cereals & cereal-based products, fats & oils, beverages, dietary supplements, and others. The infant formula segment is the largest segment, accounting for the majority of the market share. This is due to the high demand for fortified infant formula in developing countries.
   
• The market is also divided into various regions such as North America, Europe, Asia-Pacific, South America, and Middle East and Africa. North America is estimated to account for the largest market share during the forecast period due to increasing chronic diseases and obesity leading to growing demand of food fortifying agents.

Regional Analysis

North America to Dominate the Market

• North America is estimated to account for the largest market share during the forecast period. Due to increase in chronic diseases and obesity which has led to increased usage of healthy food additives.
   
• Moreover, there is a growing demand of fortified food and beverage products as well as fortified foods in bakery confectionery in North America.

Competitive Landscape

• Cargill Incorporated
• DSM
• DuPont
• BASF SE
• Arla Foods Amba
• Tate & Lyle
• Ingredion Incorporated
• Archer Daniels Midland Company
• Nestle SA
• IFF
• Chr. Hansen Holdings A/S
• Kemin Industries, Inc.
• Corbion
• Allied Vitamins
• Prinova Group
• Roquette Frères
• DÖHLER

Recent Developments

• In 2022, a new innovation centre was setup by Cargill in India in lieu of the increasing consumer demand for healthy nutritious food solutions.
   
• In 2021, Vestkorn milling, the leading producer of pea and bean derived ingredients for plant-based protein products was acquired by DSM for USD 68.4 million.

Reasons to Acquire

• Increase your understanding of the market for identifying the most suitable strategies and decisions based on sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends, and factors.
   
• Gain authentic and granular data access for the Global Food Fortifying Agents Market to understand the trends and the factors involved in changing market situations.
   
• Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future.
   
• In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns.

Report Scope