Market Size of Asia-Pacific Food Fortifying Agent Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 5.80 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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APAC Food Fortifying Agent Market Analysis
The Asia-Pacific food fortifying agents market is growing at a CAGR of 5.8% during the forecast period 2020 - 2025.
- The market is mainly driven by the increasing health-consciousness among the consumers and the multi-benefits of food fortifying agents. In addition, the rise in aging populations and the growing health concerns have led to large-scale adoption of food fortifying agents for various applications.
- Furthermore, the support of government organizations has also fueled market growth. For instance, the Food and Agricultural Organization (FAO) and the World Health Organization (WHO) has also recognized food fortification as one of the key strategies to reduce the widespread malnutrition, particularly in underdeveloped countries.
- However, increasing raw material cost and competition among raw material suppliers along with regulations regulating the production of use of food fortifying agents are one of the factor that is restraining the growth of the market.
