Food Fortifying Agents Market 2023 - Industry Analysis, Size, Share, Strategies and Forecast to 2032

Food Fortifying Agents Market Size 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), Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2022 to 2030

The global food fortifying agents market is expected to grow from USD 79.3 billion in 2021 to USD 202.8 billion by 2030, at a CAGR of 11% during the forecast period 2022-2030. Rising demand for better, more nutritional foods and more health consciousness is driving the growth of the food fortifying agents market. Other market growth factors include changing lifestyles and increased demand for healthy foods and beverages due to rising population and personal disposable income. The demand for food fortifying agents and their components is further driven by the tendency of consumers toward sustainable, regenerative, plant-based nutrition as well as by the desire for foods and beverages that contain ingredients that boost immunity.

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The vitamin segment dominated the market with a market revenue of 23.7 billion in 2021

The type segment is divided into proteins & amino acids, vitamins, lipids, prebiotics & probiotics, carbohydrates, minerals, and others. In 2021, the vitamin segment dominated the market with a market revenue of 23.7 billion. Over the forecast period, market growth is anticipated to be driven by the installation of milk fortification programs worldwide.

The cereals and cereal-based foods segment are expected to grow at the fastest CAGR of 11.8% over the forecast period.

The application segment is divided into infant formula, dairy & dairy-based products, cereals & cereal-based products, fats & oils, beverages, dietary supplements, and others. Over the forecast period, the cereals and cereal-based foods segment is expected to grow at the fastest CAGR of 11.8%. These agents are best for pregnant women as they help them fulfil their nutritional values.

Regional Segmentation Analysis: 

The food fortifying agents market is analyzed based on five regions: North America, Europe, Asia Pacific, South America, Middle East, and Africa. The Asia Pacific is expected to be the largest market for food-fortifying agents during the forecast period. This signifies that the region will have the highest compound annual growth rate throughout the forecast period. This is due to increased adoption of healthier lifestyles, an increased understanding of the benefits of food-fortifying agents, and a low health index. India and China will emerge as the region's biggest contributors. Programs relating to food fortification for maintaining a healthy diet and combating health issues like malnutrition and micronutrient deficiencies are among the factors driving growth in this region.

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Competitive Analysis: 

The major players in the food fortifying agents market include Cargill Incorporated, I. du Pont de Nemours and Company, Royal DSM, BASF SE, Arla Foods, Archer Daniels Midland Company, Hansen Holdings A/S, Nestle Sa, Ingredion Incorporated, Evonik Industries AG, Kellogg Co., and PPG Industries Inc. among others.