Fortified Food Market Highlights 2020 – 2029

The global fortified food market is estimated to garner a sizeable revenue by growing at a significant CAGR over the forecast period, i.e., 2021 – 2029. The growth of the market can be attributed to the growing health consciousness among people and increasing disposable income of consumers on a global level. Additionally, as fortified foods also provide medicinal benefits along with essential nutrients and high energy gain, the demand for these products is anticipated to witness a hike in the near future. Growing investment to develop new varieties of fortified foods is also projected to fuel market expansion. Rising emphasis of leading food and beverage manufacturers to produce enriched foods is a major factor assessed to offer lucrative growth opportunities to the market. It is calculated that by 2022, the functional foods market will generate a revenue of approximately USD 320 billion.

The market is segmented by nutrient composition into vitamins, carbohydrates, proteins, minerals, probiotics and others, out of which, the vitamins segment is evaluated to hold the largest share in the fortified food market by the end of 2029 on account of increasing prevalence of disorders resulting from vitamin deficiency. According to the World Health Organization, more than 2 billion people suffer from the deficiency of micronutrients globally. However, the segment for probiotics is expected to grow with the highest CAGR during the forecast period. This can be credited to the advantages of consuming probiotics regularly such as improved immune function, restoration of healthy bacteria in the body and management of excessive weight. Furthermore, on the basis of product, the basic foods segment is estimated to gain slightly more traction in the market in 2021 owing to the high production of dairy products fortified with Vitamins, especially Vitamin D.

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Global Fortified Food Market Regional Synopsis

Regionally, the fortified food market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa. The market in Asia Pacific region is estimated to witness noteworthy growth over the forecast period on the back of increasing demand for nutrition enriched foods and promotion of fortified products by the government of countries, namely China, Japan, South Korea and India. Along with these growing occurrence of vitamins and minerals deficiency among people is also predicted to gauge market growth in this region in the coming years. On the other hand, Europe occupies the largest revenue share in the market and is expected to offer abundant growth opportunities over the forecast period owing to the strong presence of food & beverage industries in the region and growing consumption among adult and older populations. Our analysis reveals that Europe is predicted to generate the largest food industry revenue in 2021, amounting to approximately USD 1.75 million.

The fortified food market is further classified on the basis of region as follows:

• North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
• Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
• Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
• Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis
• Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis

Market Segmentation

Our in-depth analysis of the fortified food market includes the following segments:

By Nutrient Composition

• Vitamins
• Carbohydrates
• Proteins
• Minerals
• Probiotics
• Others

By Product

• Basic Food
• Processed Food

By Distribution Channel

• Online
• Offline

Growth Drivers

• Rising Mindfulness of People Regarding Health Concerns
• Increasing Investment to Produce Enhanced Fortified Products

Challenges

• Inability of Several Fortified Food Manufacturers to Meet Health Guidelines Provided by the Government

Top Featured Companies Dominating the Market

• Nestle S.A.
  • Company Overview
  • Business Strategy
  • Key Product Offerings
  • Financial Performance
  • Key Performance Indicators
  • Risk Analysis
  • Recent Development
  • Regional Presence
  • SWOT Analysis 
• Bühler AG
• Dr. Paul Lohmann GmbH & Co. KGaA
• Gastaldi Hnos.S.A.
• Corbion NV
• General Mills Inc.
• Koninklijke DSM N.V.
• Cargill, Incorporated
• Arla Foods amba
• Mondelēz Global LLC