As per the report published by Kings Research, the global Food Fortifying Agents Market was valued at USD 91.61 billion in 2023. The market is projected to reach USD 188.47 billion by 2031, growing at a CAGR of 9.44% from 2024 to 2031.
The food fortifying agents market is witnessing significant growth, driven by factors such as increasing health awareness and government initiatives aimed at promoting nutritional enhancement in food. The market encompasses various products such as vitamins, minerals, and additives to enhance food nutrition. Key players are focusing on innovation and expanding geographic reach to capitalize on emerging opportunities. The expansion of the market is further fueled by rising consumer demand for nutrient-rich foods, with a notable emphasis on clean labels and personalized nutrition solutions.
Key Insights
- Based on type, the vitamins segment accounted for the largest market share of 32.72% in 2023
- Based on application, the dietary supplements segment is estimated to register a CAGR of 11.62% between 2024 and 2031
- On the basis of region, Asia-Pacific registered a significant valuation of USD 20.44 billion in 2023
May 2023: During the Seventy-sixth World Health Assembly, delegates passed a resolution to accelerate efforts in preventing micronutrient deficiencies through safe food fortification. The resolution urged Member States to adopt fortification measures that incorporate essential micronutrients and to consider enhancing financing and monitoring mechanisms. Large-scale food fortification (LSFF) was highlighted as a key part of the solution, involving the addition of vitamins and minerals to staple foods to address deficiencies, thereby conferring benefits to the general population and specific groups such as children and pregnant women.
Innovation and Identification of Novel Ingredients to Provide Opportunities for Market Development
The growing demand for natural and clean label products presents a significant opportunity for food fortifying agents market growth. Consumers are increasingly seeking transparent and minimally processed foods with added nutritional benefits. This trend presents opportunities for market players to innovate and develop natural fortification solutions using plant-based extracts, marine ingredients, and fermentation processes. Companies are investing heavily in research and development activities to identify novel & natural sources of vitamins, minerals, and other nutrients to cater to evolving consumer preferences, thereby contributing to the surging demand for natural and clean label fortified products.
Strategic Partnerships and Capitalizing on Government Schemes to Expand Presence in Developing Regions
A significant opportunity for the expansion of the food fortifying agents sector lies in leveraging public sector interventions, particularly in emerging markets and developing regions. These regions are witnessing rapid urbanization and rising disposable incomes, creating a favorable environment for fortified foods and beverages. Supportive public health initiatives and government programs promoting nutrition are enhancing both market reach and consumer adoption. Aligning with public sector interventions and investing in localized marketing strategies, is enabling market players to tap into the growing demand for fortified products in these regions, fostering sustainable growth and addressing nutritional challenges effectively.
Asia-Pacific to Be the Fastest-Growing Region, Exhibiting the Highest CAGR of 10.73% Between 2024 and 2031
Based on region, the global food fortifying agents market is classified into North America, Europe, Asia-Pacific, MEA, and Latin America. Rapid urbanization and economic development in countries such as China, India, and Southeast Asian nations are boosting consumer spending and dietary diversification, thereby impelling the demand for fortified foods and beverages.
Additionally, government initiatives promoting nutrition and health awareness campaigns are fostering a culture of preventive healthcare, supporting the adoption of fortified products. Furthermore, advancements in food technology and distribution networks are facilitating market penetration, aiding Asia-Pacific food fortifying agents market progress.
Companies Focus on Innovating Protein Formulations to Expand Their Product Portfolio and Market Reach
The global food fortifying agents market reveals a moderately fragmented landscape featuring prominent companies including Adani Group, Advanced Organic Materials, S.A., Archer Daniels Midland Company, Artemis Salt, BASF SE, Cargill Incorporated, DSM, Morton Salt, Inc., Mead Johnson & Company, LLC, Tata Consumer Products Limited, and others. Companies are employing a variety of strategic measures such as acquisitions, mergers, partnerships, product introductions, and collaborations to expand their global business footprint and enhance their competitive position.