Jul 23, 2021 (MARKITWIRED via COMTEX) -- Approximately 2 billion people across the world still lack access to the essential minerals and vitamins needed for a healthy and sustainable lifestyle. That is why food fortification programmes are actively encouraged by national governments, especially in developing nations. Future Market Insights has prepared an insightful report on the global fortified foods market titled 'Fortified Foods Market: Global Industry Analysis 2013-2018 and Opportunity Assessment 2019-2027'. The fortified foods market is expected to push past US$ 500 Bn by the end of the forecast period witnessing a CAGR of 6.3% in terms of value during the forecast period.
The flour segment is anticipated to cross US$ 68 Bn by the end of 2027, registering a CAGR of 6.6%.
Vitamins and minerals have a market share of more than 4/5 [th] of the fortified foods market by micronutrients and are predicted to hold slightly increased share by the end of 2027. CAGR exhibited by minerals (6.5%) is higher than that of vitamins (6.4%) from 2019-2027 and the most important deficiency to address would be that of iron that is typically found in pregnant women and preschool children.
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The basic foods segment is just a little larger than processed foods in the fortified foods market and is likely to remain so for the foreseeable future. An absolute dollar opportunity of more than US$ 46 Bn exists in this market with margarine fortification being particularly important.
Key stakeholders in the fortified foods market would do well to focus on drying and extrusion technologies as they are vital. The drying technology is predicted to exceed US$ 87 Bn by end 2027. Extrusion though some way behind, is still critical in the fortified foods market and companies must not ignore it under any circumstance.
The modern trade and neighbourhood stores segments are poised to grow by 190 and 17 BPS respectively and this is largely at the expense of online sales and other retail formats in the fortified foods market. Supermarkets and hypermarkets are preferred by customers for being 'one-stop shops'.
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APEJ represents more than a third of the global fortified foods market and is projected to grow by a massive 214 BPS throughout the duration of the study. A number of public private partnerships in this region coupled with salt fortified with both iodine and iron has propelled the growth of the fortified foods market in APEJ.
Future Market Insights has profiled some of the most prominent companies' active in the fortified foods market. These include Nestle S.A., BASF SE, General Mills, Tata Chemicals Limited, Mondel�"z International, Cargill Incorporated, Danone, Buhler AG, Bunge Limited, Unilever PLC, Koninklijke DSM NV, Stern-Wywiol Gruppe GmbH & Co. KG, Arla Foods amba, Nutritional Holdings (Pty) Limited, Dr. Paul Lohmann GmbH KG Chemische Fabrik, Wright Enrichment Inc., Gastaldi Hermanos, Sinokrot Global, Ufuk Kimya Ilac Sanayi Ve Ticaret Limited Sirketi, and Corbion NV.
Nutritional deficiencies are more common in emerging economies. To strengthen their food fortification structures, developed countries are collaborating with governments in emerging economies by assisting in the setup of manufacturing units, providing technological support, and financial aid. While China could potentially slow down, Brazil and India are on track to record significant growth in the fortified foods market.
For Information On The Research Approach Used In The Report, Request TOC@ https://www.futuremarketinsights.com/toc/rep-gb-941
Expert analysis, actionable insights, and strategic recommendations - the food & beverage team at Future Market Insights helps clients from across the globe with their unique business intelligence needs. With a repertoire of over 1,000 reports and 1 million+ data points, the team has analysed the food & beverage industry lucidly in 50+ countries for over a decade. The team provides end-to-end research and consulting services; reach out to explore how we can help.
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