Food Fortifying Agents Market by Type (Proteins & Amino Acids, Vitamins, Lipids, Prebiotics & Probiotics, Carbohydrates, Minerals, and Others), By Application (Infant Formula, Dairy & Dairy-based Products, Cereals & Cereal-based Products, Fats & oils, Beverages, Dietary supplements, and Others) and region (North America, Europe, Asia-Pacific, Middle East and Africa and South America).
The Global Food Fortifying Agents market size was estimated at USD 87.15 billion in 2023 and is projected to reach USD 168.75 billion in 2030 at a CAGR of 9.90% during the forecast period 2023-2030.
Food fortification is the practice of adding micronutrients to food products to improve their nutritional content. This is done to address micronutrient deficiencies in the population, which can lead to a number of health problems, including anaemia, blindness, and impaired cognitive development.
There are a number of different micronutrients that can be added to food, including vitamins, minerals and proteins. The most common micronutrients added to food are vitamin A, iron and iodine.
The global food fortifying agents’ market can be segmented by type, which includes vitamins, lipids, proteins, amino acids, prebiotics, probiotics, carbohydrates, minerals and others. Based on application the market can be bifurcated into dairy and dairy based products, infant formula, cereals and cereal based products, dietary supplements, fats and oil beverages and others.
The market is majorly being driven by the increasing awareness of food fortification, growing prevalence of chronic diseases and the rising disposable income of consumers.
The COVID-19 Pandemic had a positive impact on the global food fortifying agents’ market as people became more conscious while selecting foods. As people became more health conscious, there was an increase in the demand of plant-based nutrition which is sustainable and regenerative and food and beverages that provide a boost to the immunity which led to the growth of the market during COVID times.
During the COVID-19 pandemic, people became more health conscious and shifted their focus towards selecting food and beverages that provided them with health benefits. This led to an increase in the sales of food fortifying agents and food and beverages that use food fortifying agents. Vitamin sector accounts for a major share in the market due to rise in chronic diseases due to vitamin deficiencies, increase in health care cost, increasing Do It Yourself Trend and increase in ageing population. Overall, the market is set to grow in the forecast years due to increasing awareness of people towards food fortification.
North America to Dominate the Market