Major Key Players:
This report includes a study of strategies such as mergers and acquisitions, product launches by the major food fortification market players. It further includes product portfolios, developments of leading major players which includes
- Dean Foods (U.S.)
- Altria Group (U.S.)
- Kraft Foods (U.S.)
- Nestle SA (Switzerland)
- Kellogg Co. (U.S.)
- General Mills (U.S.) and
- Campbell Soup Company (U.S.)
Global food fortification market is highly concentrated in North America. Food fortification manufacturers are focusing on expanding their product line by providing larger product line, so to help consumer meet their nutrient daily requirement. Asia-Pacific is projected to grow at the highest CAGR from 2016 to 2022.
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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
Market Overview:
Global Food Fortification Market is projected to grow at the CAGR of 4.5%. Growing demand for convenience food, health & wellness trend and increasing variety of food fortifications are the growth drivers responsible for the growth of global food fortifications market.
Globally with huge demand for convenience food, food fortification market will continue to grow. Key players are investing in R&D for innovation in new product line as food fortification market’s growth is directly proportional to the scope of innovation. Key players are also investing to increase the product line fortified with various minerals, vitamins, proteins and others, adding to this food products fortified with prebiotics and probiotics have shown huge potential in this market. Consumer’s demand has increased for products fortified for health worries related to age, health issues such as diabetes & weight loss and lifestyle concern that includes smokers, working class, sedentary lifestyle, athletes, and such factors are anticipated to drive the fortified food market.
There are various food that are made mandatory by the Government that has to be fortified, such as salt with iodine, vegetable fat with vitamin A& D, milk is fortified with Vitamin D, this measure was undertaken to curb the incidence of rickets and iodine deficiency affects about two billion people and is the leading preventable cause of intellectual and developmental disabilities. Dairy products are fortified with various probiotics and prebiotics so to curb stomach ailments, products such as probiotic ice-creams, probiotic buttermilk and others. Adding to this, beverage are fortified with energy boasters, minerals, salts, and beverages is especially fortified to cure dehydration.
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Regional Analysis:
The global Food fortification market is segmented into North America, Europe, Asia Pacific, and rest of the world (ROW). Among these Europe region has the major market share. The Europe dominates the food fortification market. Emerging markets like India and China have been considered as potential markets for food fortification due to growing demand for healthy convenient food, and also increasing consumer awareness and growing incidences of diseases across the globe.
Key Findings:
North America dominates the food fortification market followed by Europe
Asia-Pacific is the fastest growing region in the food fortification market. India and China has shown huge potentials for food fortification market share during the period 2011-2015
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