As per several recent surveys on various health issues, malnutrition has been identified as a major health concern across the globe. Owing to the rapid changes in lifestyles and food habits, mainly in the developed countries, the customers including the infants are suffering from this problem. Fortified foods hold the key to ease the grip of micronutrient malnutrition over the global human population. In a recently published report by Mindaspire Market Research (MAMR), the global fortified foods market is likely to witness a stable CAGR during the forecast period, 2017-2027.
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Market Dynamics
As the incidence of nutritional deficiencies continues to surge rapidly due to growing presence of unhealthy food products, governments are imitating programs towards food fortification. As a result, various manufacturers of fortified foods are implementing new technologies, and fuelling the growth of the market during the forecast period. However, some manufacturers are not complying with rules, industry standards, or regulations to produce fortified foods. Henceforth, customers are losing faith after being affected digestion problems caused by regular consumption of the fortified foods. This scenario will continue to create critical challenges in the global market for fortified foods for the years to come.
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Key Segments
The report has segmented the global fortified foods market on the basis of application, technology, micronutrients, sales channel, raw materials and region. On the basis of applications, the global market for fortified foods has been further bifurcated into basic food and processed food. According to the report, yogurt, butter, and cheese, among others, are the basic food applications of fortified foods. Besides, processed food applications of fortified foods are also segmented into powdered products, value added food products, and extruded products. Among which, snacks food and pasta are the sub-segments of extruded products applications. Powdered products has two further segments, such as powdered beverages and infant formula & cereals. In addition, value added food segment consists of condiments & juice sub-segments.
Based on latest technologies, the global market for fortified foods is segmented into extrusion, coating & encapsulation, drying and others. Spray drying, oven drying and drum drying are the sub-segments that come in the drying segment.
On the basis of micronutrients, the global fortified foods market is segmented into three sections and they are vitamins, minerals and other fortifying micronutrients. The vitamins segment is further segmented into five divisions, such as vitamin A, vitamin B, vitamin C, vitamin D and other vitamins. Moreover, the vitamin B segment is further segmented into vitamin B12, thiamine (vit B1), niacin (vit B3), folic acid, riboflavin (vit B2) and vitamin B6. Besides, calcium, zinc, iron, iodine and other minerals are the sub-segments that fall in minerals segment.
The global market for fortified foods is expanding robustly through various sales channels, such as online sales, neighborhood stores, modern trade and other retail format.
The global fortified foods market has also been analyzed into six sub-segments based on the raw materials, such as salt, milk, oil, sugar, rice and flours. Corn flour, wheat flour and rice flour are the further sub-segments with respect to the flour segment.
Geographically, the global market for fortified foods is widely segmented into Western Europe, Asia-Pacific excluding Japan (APEJ), Eastern Europe, Middle-East & Africa (MEA), Latin America, Japan and North America.
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Key Players
The study on the global market for fortified foods has profiled various companies as the key market participants. Gastaldi Hermanos, Corbion NV, Dr. Paul Lohmann GmbH KG Chemische Fabrik, Nutritional Holdings (Pty) Limited, Bühler AG, General Mills, Stern-Wywiol Gruppe GmbH & Co. KG, Koninklijke DSM NV, Wright Enrichment Inc., Cargill Incorporated, Arla Foods amba, Sinokrot Global, Bunge Limited, Ufuk Kimya Ilac Sanayi Ve Ticaret Limited Sirketi, Danone, Mondelez International, Unilever PLC, BASF SE, Nestlé S.A. and Tata Chemicals Limited, among others, are expected to be active in the expansion of the global fortified foods market during the forecast period.