Technavio's Fortifying Agent Market Research Report Highlights the Key Findings in the Area of Vendor Landscape, Key Market Segments, Regions, and Latest Trends and Drivers

Our research report on "Fortifying Agent Market by Application and Geography - Forecast and Analysis 2022-2026" has extensively covered factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the market share during the forecast period.

Fortifying Agent market report key highlights

• Estimated year-on-year growth rate: 10.40%
• Key market segments: Application (dietary supplements, dairy and dairy products, cereals and cereal-based products, infant formula, and others) and geography (North America, Europe, APAC, South America, and MEA).
• Key Consumer Region & contribution: North America at 33%

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Fortifying Agent Market Share Trend

• The rising consumption of vitamin-infused foods & beverages

The increased prevalence of vitamin deficiencies, which can cause health diseases like anemia, scurvy, beriberi, and pellagra, are driving the worldwide fortifying agent market expansion. Furthermore, investigations have shown that these are not merely deficiency disorders, but conditions that occur in a community that is reasonably well-nourished. Thus, vitamin fortification of foods has been shown to be a useful method for addressing nutritional inadequacies in the general population. Moreover, the introduction of newly manufactured goods with modified vitamin blends, and vitamin D fortified milk, will drive market expansion over the projection period.

Fortifying Agent Market Challenge

• The stringent government regulations

The governments of countries such as the United States, India, the United Kingdom, and others check food fortification regulations on a regular basis in order to protect their populations from the detrimental effects of fortifying agents. For example, according to new regulations released by the Food Safety and Standards Authority of India in August 2018, all fortified food products on the market would now have to carry the "+F" emblem on their label and meet with the standards specified by the food safety authority (FSSAI). The rules went into force in January of this year. During the projected period, such factors are expected to hamper the market's growth.

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Key market vendors insights

The fortifying agent market share is fragmented, and the vendors are deploying various organic and inorganic strategies to compete in the market.

Some of the key market vendors are:

• Arla Foods Ingredients Group P/S
• BASF SE
• Cargill Inc.
• Evonik Industries AG
• Ingredion Inc.
• International Flavors & Fragrances Inc.
• Kellogg Co.
• Koninklijke DSM NV
• Nestle SA
• PPG Industries Inc.

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• Key Segment Analysis by Application
• Dietary supplements
• The dietary supplements segment is developing at the fastest rate by application due to its benefits in the entire development of the human body and the health benefits associated with it. Due to rising demand for high-quality food products and changing health trends, bulk food items led the food fortifying agents market throughout the forecast period, driving up demand for food fortifying agents.
• Dairy and Dairy Products
• Cereals and Cereal-based Products
• Infant Formula
• Others

Regional Market Analysis

North America will contribute to 33% of the fortifying agent market share growth during the forecast period. US, China, India, Germany, Canada, and Brazil are the major markets for fortifying agent market share.

The significant increase in the health consciousness of consumers and the bourgeoning support of government organizations is expected to boost the fortifying agent market share in the region.

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