“Fortified Food Market: Global
Demand Analysis & Opportunity Outlook 2021”
The
global fortified food market is segmented into food types such as milk products, cereals and cereal based
products, confectionaries, infant formulas, fats and oils and others includes tea.
Among these segments, cereals and cereal based products segment is projected to
lead the overall fortified food market and is anticipated to grab a notable
CAGR by 2021. Likely, rising
awareness among the consumer towards health and wellness and increasing
penetration of ready to eat food are some of the factors bolstering
the growth of global fortified food market.
Global fortified food market is anticipated to showcase a tremendous CAGR
of 10.5 % during the forecast period i.e. 2015-2021. Moreover, the global fortified food market is projected to
account exponential sales by the end of 2021.
Additionally, the market is
riding on the back of growing demand for functional packaged foods.
In
terms of regional platform, North America region captured the leading share of
global fortified food market in 2014. Further, U.S. holds the
dominating share in the fortified food market
in this region owing to growing awareness and wide availability of fortified food products through various
distribution channels. Moreover, Asia-Pacific region is believed to be the most
lucrative market due to emerging economies such as India and China. In addition
to this, growing population coupled with rising disposable income of the
consumers has pushed the market of fortified food.
Favorable Government
Initiatives
Various
governments have mandated the use of critical macronutrients into foods which
is predicted to foster the growth of fortified food market.
For instance, according to Global Alliance for Improved Health (GAIN), in 82 countries fortifying flour
with critical micronutrients such as iron and folic acid is now mandatory.
Furthermore, over 2 Billion people dearth the essential vitamins and nutrients
needed to grow and live healthy lives. These factors are directly impacting the
growth of fortified food market.
Increasing
Number of Diseases
Nutrients deficiency in the
body is the leading cause of impairment of different organs which is believed
to augment the demand for fortified food.
For instance, iodine deficiency may lead to mental impairment and lost IQ.
Additionally, changing lifestyle of the consumers and increasing penetration of
functional food are some of the factors fostering the demand for Fortified Food Market. On the
contrary, high cost of fortified food is projected to dampen the growth of global
fortified food market.
The report titled “Fortified
Food Market: Global Demand Analysis & Opportunity Outlook 2021” delivers detailed overview of the
global fortified food market in
terms of market segmentation by food type, by basic nutrients and by
region. Further, for the in-depth
analysis, the report encompasses the industry growth drivers, restraints,
supply and demand risk, market attractiveness, BPS analysis and Porter’s five
force model.
This report also provides the
existing competitive scenario of some of the key players of the global fortified food market which includes
company profiling of The Proctor & Gamble Company , Abbott Laboratories ,Land O’Lake , H.J Heinz Company , Kellogg Company
, General Mills, Inc. , Philip Morris Companies , Hain Food Group Inc., Nestle
SA, Dean Foods. The profiling enfolds key information of the
companies which encompasses business overview, products and services, key
financials and recent news and developments. On the whole, the report depicts
detailed overview of the global fortified
food market that will help industry consultants, equipment
manufacturers, existing players searching for expansion opportunities, new
players searching possibilities and other stakeholders to align their market
centric strategies according to the ongoing and expected trends in the
future.
Research Nester is a leading service provider for
strategic market research and consulting. We aim to provide unbiased,
unparalleled market insights and industry analysis to help industries,
conglomerates and executives to take wise decisions for their future marketing
strategy, expansion and investment etc. We believe every business can expand to
its new horizon, provided a right guidance at a right time is available through
strategic minds. Our out of box thinking helps our clients to take wise
decision so as to avoid future uncertainties.
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U.S.
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