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Global Fortifying Agent Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

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Market Insights

The global fortifying agent market is expected to reach USD 66.7 billion by 2023, registering a CAGR of 10.3% over the forecast period. The growing demand for healthy food, along with the increasing heath awareness among consumers, has accelerated the use of fortifying agents. These agents are largely being used in cereals, dairy, oil & fats, beverages, bakery, snacks, and confectionary items in the global market. The rapid adoption of fortifying agents in the food processing industry for better functional and nutritious attributes is boosting the market.

Market Dynamics

The growing consumer demand for dietary supplements and health foods helps drive the fortifying agents market. The increasing awareness among consumers about the benefits of dietary supplements with fortified nutrients for the overall development of the human body is leading manufacturers to use fortified agents in their products.

Fortification of wheat and maize flour with zinc, iron, folic acid, and other micronutrients has proven to be effective against iron deficiency anemia (IDA). Milk fortification helps in recovering the micronutrients that are lost during the processing of milk. Micronutrient content can be increased through fortification process. This is also increasing the market demand.

Market Segmentation

Cereals, dairy, fat & oils, and baby food products are among the largest industries that consume food fortifying agents. The improved food quality and nutrition has broadened their application in the food industry, which includes bakery, breakfast items, and beverages. Baked products, such as biscuits, cookies, cakes, pastries, and breads, are rapidly increasing fortifying agent application.
Products with higher health benefits are inducing consumers to consume such food items without price sensitivity. An increased number of food items is expected to appear in the market with innovative fortifying agents during the forecast period.

The minerals segment accounted for the largest share in the market in terms of volume. However, the vitamins segment dominated the food fortifying agents market in terms of value. Probiotics is projected to grow at the highest CAGR from 2015 to 2020.

Regional analysis

Asia-Pacific is expected to be the fastest growing market, as the consumption of functional and fortified food is increasing at a rapid pace. High population, low health-index, and increasing spending pattern of consumers for fortified food items are the factors backing the Asia-Pacific market growth. India and China are hotspots for fortifying agent consumption in Asia-Pacific market. North America is anticipated to remain the largest consumer for fortifying agents, followed by Europe.

Key Developments 

  • 2018- Kwality Limited is India's first company to launch flavored milk with fortification of vitamin A & D.
  • 2017- Laird Superfood has launched a powdered creamer, enriched with mineral complex Aquamin that compensates for tannin-induced absorption concerns.
  • 2018- Califia Farms® launched a line of dairy-free Yogurt Drinks made with the Califia Culture Blend. This distinct trio of 10 billion live, active probiotic CFUs is powered by BB-12, the most documented bifidobacteria in the world.

Competitive landscape

Major players: DuPont, Kerry Group PLC, Associated British Foods PLC, Wiberg GmbH, Proliant Non-Meat Ingredients, Campus SRL, Wenda Ingredients, Advanced Food Systems, Inc., Aliseia SRL, and Redbrook Ingredient Services Limited amongst others.

Reasons to Purchase the Report

  • Analyzing outlook of the market with the recent trends and Porter’s five forces analysis
  • Market dynamics, which essentially consider the factors that are impelling the present market scenario, along with growth opportunities of the market in the years to come
  • Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and non-economic aspects
  • Regional and country-level analysis integrating the demand and supply forces that are influencing the growth of the market
  • Competitive landscape involving the market share of major players along with the key strategies adopted for development in the past five years
  • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
  • 3 month analyst support, along with the Market Estimates sheet (in excel)

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1.  Introduction

                1.1 Research Methodology

                1.2 Definition of the Market

                1.3 Report Description

2.  Key Findings of the Study

3. Market Overview

                3.1 Market Trends

4. Market Dynamics

                4.1 Drivers

                4.2 Constraints

                4.3 Opportunities

                4.4 Porter's Five Forces Analysis

                                4.4.1 Bargaining Power of Suppliers

                                4.4.2 Bargaining Power of Buyers

                                4.4.3 Threat of New Entrants

                                4.4.4 Threat of Substitute Products & Services

                                4.4.5 Degree of Competition

5. Market Segments

                5.1 By Type

                                5.1.1 Minerals

                                5.1.2 Vitamins

                                5.1.3 Carbohydrates

                                5.1.4 Proteins & Amino Acids

                                5.1.5 Prebiotics

                                5.1.6 Probiotic

                                5.1.7 Others

                5.2 By Application

                                5.2.1 Cereals & Cereal-based Products

                                5.2.2 Dairy & Dairy-based Products

                                5.2.3 Fats & Oils Market

                                5.2.4 Bulk Food Items

                                5.2.5 Beverages

                                5.2.6 Dietary Supplements

                                5.2.7 Others

                5.3 By Geography

                                5.3.1 North America

                                                5.3.1.1 US

                                                5.3.1.2 Canada

                                                5.3.1.3 Mexico

                                                5.3.1.4 Rest of North America

                                5.3.2 Europe 

                                                5.3.2.1 Germany

                                                5.3.2.2 UK

                                                5.3.2.3 Spain

                                                5.3.2.4 France

                                                5.3.2.5 Italy

                                                5.3.2.6 Netherlands

                                                5.3.2.7 Rest of Europe

                                5.3.3 Asia-Pacific 

                                                5.3.3.1 China

                                                5.3.3.2 India

                                                5.3.3.3 Japan

                                                5.3.3.4 Australia

                                                5.3.3.5 Rest of Asia-Pacific

                                5.3.4 South America

                                                5.3.4.1 Brazil

                                                5.3.4.2 Argentina

                                                5.3.4.3 Colombia

                                                5.3.4.4 Rest of South America

                                5.3.5 Africa

                                                5.3.5.1 South Africa

                                                5.3.5.2 Egypt

                                                5.3.5.3 Nigeria

                                                5.3.5.4 Rest of Africa

6. Competitive Landscape

                6.1 Most Active Companies

                6.2 Market Share Analysis

                6.3 Most Adopted Market Strategies

7. Company Profiles

                7.1 E. I. Du Pont De Nemours and Company

                7.2 Kerry Group PLC

                7.3 Associated British Foods PLC

                7.4 Wiberg GmbH

                7.5 Proliant Non-Meat Ingredients

                7.6 Campus SRL

                7.7 Wenda Ingredients

                7.8 Advanced Food Systems, Inc.

                7.9 Aliseia SRL

                7.10 Redbrook Ingredient Services Limited

                7.11 Cargill Incorporated

                7.12 Hansen Holdings A/S

                7.13 Ingredion Incorporated

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