Market Size of North America Fortified Bakery Products Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 4.60 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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North America Fortified Bakery Products Market Analysis
The North American fortified bakery products market is projected to grow at a CAGR of 4.6% during the forecast period.
The busy and on-the-go lifestyles of the rising young population often dictate a need for a quick meal. Consumers are opting for fast food options that are low in calories and high in health benefits and taste. According to the Koninklijke DSM NV consumer survey, in 2020, 60% of consumers sought fortified food products, while 68% were open to trying products that help improve their nutrient intake. The rising health consciousness among consumers and the increasing prevalence of vitamin deficiencies that can cause health disorders, such as anemia, scurvy, beriberi, and pellagra, are some of the key market drivers increasing the demand for fortified bakery products.
Moreover, the laws and regulations to promote the consumption of fortified food are accelerating the demand for fortified bakery products in the region. For instance, the flour fortification of wheat flour is mandatory by law in Canada. It is governed by the Food and Drug Regulations through the Food and Drug Act. Bakery products using 100 grams of flour should contain 0.64 milligrams of thiamine, 0.40 milligrams of riboflavin, 5.30 milligrams of niacin or niacinamide, 0.15 milligrams of folic acid, and 4.4 milligrams of iron.
