Food Fortification Global Market Scope, Size, Share, Business Analysis by Forecast to 2022
The Emerging Food Fortification Market opportunities for appear to be conducive for the acceptance of convenience food in Europe and North America region. Fortified food offer extra micronutrients which includes essential trace elements and different vitamins. Fortification of food involves the process of adding micronutrients to juices which are generally consumed by consumers of different age. Fortified food offers diverse range of products, enriched with various nutrients. The global fortified energy bar market is anticipated to be driven by the increasing awareness of nutrients such as proteins, fat, carbohydrates and others.
Also, sports nutrition industry is expected to play a significant role in the growth of food fortification market during the forecast period. Additionally, the advancement in product development coupled with the technological advancements is considered to be one of the significant reasons for the increasing growth of food fortification market during the review period of 2017-2022. Due to busy lifestyles, consumers are looking for convenient food products which fulfil the nutrient requirement of the body. This will, in turn, escalate the sales of Food Fortification in the upcoming decade.
The governments and organizations specifically in emerging economies of Asia Pacific are taking initiative to increase awareness about the health benefits of fortified food with various promotional campaign, thereby it is estimated that the demand for the product will increase manifold in near future.
Leading Key Players
Key manufacturers are concentrating to augment its brand name by arranging several promotional activities. The company has participated in various social media promotions, events and interaction with the consumers. The manufacturers is demonstrating their new product offerings in order to attract the new customers. By this strategy the product of the company will be popular among the consumers which will aid to increase the overall profitability of the company.
The key players profiled in food fortification are General Mills (U.S.), Nestle SA (Switzerland), Kellogg Co. (U.S.), Dean Foods (U.S.), Altria Group (U.S.), Kraft Foods (U.S.) and Campbell Soup Company (U.S.)
Latest Industry Updates
May 2017 Nestle India introduced “iron fortified” maggi noodles
October 2017 Kellogg India launched Chocos Fills. The product provides protein and fibre and is fortified with essential B vitamins.
September 2017 Nestlé USA is planning to acquire Sweet Earth in order to increase the plant based fortified food
Global food fortification market has been divided into product, nutrients, type and Region
On the Basis of product: Dairy products, fats and oils products, confectionary products, bakery products, beverages, infant formulas and others
On the Basis of nutrients: Vitamins, proteins, minerals, prebiotics & probiotics and others
On the Basis of type: Frozen, ready-to-mix, ready to eat, ready-to-drink, and others
On the Basis of Region: North America, Europe, Asia Pacific, and Rest of the World
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The Global Food Fortification Market is segmented into Europe, North America, Asia Pacific and Rest of the World. Among all the region, North America is estimated to retain its dominance throughout the forecast period of 2017-2022 followed by Europe. This is attributed to the increasing awareness of the healthy food habits and increasing disposable income of consumers. Also, new flavors and various innovative products are introduced by key players in the North American region which is playing a major role to upsurge the sales of fortified food in the recent time.