New York, April 27, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Food Fortifying Agents Global Market Report 2023" - https://www.reportlinker.com/p06451238/?utm_source=GNW
, Royal Cosun, Stratum Nutrition, and Wenda Ingredients LLC.
The global food fortifying agents market is expected to grow from $84.97 billion in 2022 to $96.23 billion in 2023 at a compound annual growth rate (CAGR) of 13.25%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The food fortifying agents market is expected to reach $158.35 billion in 2027 at a CAGR of 13.26%.
The food fortifying agents market consists of sales of micronutrients and dietary fiber.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Food fortifying agents are used to improve the nutritional value of food by adding micronutrients. Food fortification is a risk-free and economical method for enhancing diets and preventing and controlling micronutrient deficiencies.
North America was the largest region in the food fortifying agents market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the food fortifying agents market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of food fortifying agents are minerals, vitamins, lipids, carbohydrate, proteins and amino acids, prebiotics, probiotics, and other types.The minerals are used to add minerals in food which lack minerals.
Minerals are those substances found in meals and the environment that our bodies require for healthy growth and development.Minerals such as calcium, phosphorus, potassium, sodium, and others are all necessary for good health.
The process of adding food fortifying agents includes powder enrichment, premixes and coatings, drum drying, dusting, and spray drying under microencapsulation process. The food fortifying agents are used in cereals and cereal-based products, dairy and dairy-based products, fats and oils, bulk food items, beverages, infant formula, dietary supplements, and other applications.
The increasing prevalence of chronic diseases is driving the food fortifying agents market going forward.Chronic diseases are ongoing illnesses or conditions, such as heart disease, cancer, asthma, and diabetes that can be managed through early detection, exercise, improved diet, and treatment therapy.
With the rising chronic diseases, the consumer demand for healthy food is increasing, which leads to propelling the food fortifying agents market.For instance, according to the Partnership to Fight Chronic Disease (PFCD), a US-based, internationally recognized organization, chronic diseases are expected to affect nearly 49% of the total population, an estimated 164 million Americans by 2025.
Therefore, the increasing prevalence of chronic diseases will promote the food-fortifying agents market.
Product innovation is a key trends in the food fortifying agents market.Major players in the market are focusing on launching innovative products to increase their product portfolio and consumer base.
For instance, in September 2022, Nestlé Health Science, a Switzerland-based leader in the field of nutritional science launched two new probiotics in the form of solid beverages in China to support growth and address allergies in kids.The probiotic strains added include Lacticaseibacillus rhamnosus GG, Bifidobacterium animalis BB-12, Lacticaseibacillus rhamnosus HN001, and Bifidobacterium lactis HN019.
These contain prebiotics, the higher number of live bacteria at 20bn Colony Forming Units (CFU), vitamin C, and zinc. These probiotics do not contain common allergens such as dairy, fragrances, lactose, and preservatives.
In December 2021, Royal DSM, a Netherlands-based chemical company specializing in health, nutrition, and materials, acquired Vestkorn Milling for $65.06 million (€65 million). Through this acquisition, DSM aimed to develop a market for alternative proteins and complement its product portfolio. Vestkorn Milling is a Norway -based producer of ingredients such as textured vegetable proteins made from peas and faba beans.
The countries covered in the food fortifying agents market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The food fortifying agents market research report is one of a series of new reports that provides food fortifying agents market statistics, including food fortifying agents industry global market size, regional shares, competitors with a food fortifying agents market share, detailed food fortifying agents market segments, market trends and opportunities, and any further data you may need to thrive in the food fortifying agents industry. This food fortifying agents market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Read the full report: https://www.reportlinker.com/p06451238/?utm_source=GNW
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