Fortifying Agent Market by Application and Geography - Forecast and Analysis 2022-2026
- Published: Jan 2022
- Pages: 120
- SKU: IRTNTR72170
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The fortifying agent market share is expected to increase by USD 43.24 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 10.64%.
This fortifying agent market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers fortifying agent market segmentation by application (dietary supplements, dairy and dairy products, cereals and cereal-based products, infant formula, and others) and geography (North America, Europe, APAC, South America, and MEA). The fortifying agent market report also offers information on several market vendors, including Arla Foods Ingredients Group P/S, BASF SE, Cargill Inc., Evonik Industries AG, Ingredion Inc., International Flavors & Fragrances Inc., Kellogg Co., Koninklijke DSM NV, Nestle SA, and PPG Industries Inc. among others.
What will the Fortifying Agent Market Size be During the Forecast Period?
Download the Free Report Sample to Unlock the Fortifying Agent Market Size for the Forecast Period and Other Important Statistics
Fortifying Agent Market: Key Drivers, Trends, and Challenges
The rising concerns on ever-increasing health problems is notably driving the fortifying agent market growth, although factors such as stringent government regulations may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the fortifying agent industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Fortifying Agent Market Driver
One of the key factors driving the global fortifying agent market growth is the rising concerns on ever-increasing health problems such as high blood pressure, cardiovascular diseases, Alzheimer's disease, and many others. The consumer's diet across various regions can lack particular nutrients due to their local soil and a deficiency in staple food, leading to increased demand for food fortifying agents. There are two types of food fortification first one is mandatory, and the second one is discretionary. For mandatory food fortification, FDA has established guidelines & standards. For instance, the addition of vitamins and minerals (micronutrients) to food in Canada is controlled under regulatory provisions first declared in 1964 (Part D Division 3 of the Food and Drug Regulations [FDRs]). Such factors are expected to boost the demand for the fortifying agents, which will support the market growth during the forecast period.
Key Fortifying Agent Market Trend
Another key factor driving the global fortifying agent market growth is the rising consumption of vitamin-infused foods & beverages due to the growing incidences of vitamin deficiencies, which can cause health disorders such as anemia, scurvy, beriberi, and pellagra. In addition, studies have mentioned that these are not simply deficiency diseases but conditions present in a relatively well-nourished society. Thus, food fortification with vitamins was proven to be an effective tool for tackling nutritional deficiencies among the population. Furthermore, the launch of newly formulated products with modified blends of vitamins such as Alpha mind vitamin-infused coffee, Snap super candy (vitamin-infused snacks), vitamin-infused water, and vitamin D fortified milk will fuel the growth of the market during the forecast period.
Key Fortifying Agent Market Challenge
One of the key challenges to the global fortifying agent market growth is the stringent government regulations due to the continuous change in the adoption of food fortification processing and other demanded measures by vendors. The government of countries such as the US, India, the UK, and other countries are monitoring the laws of food fortification on a regular basis to keep their population safe from various harmful effects from the fortifying agents. For instance, in August 2018, the Indian government has announced that all fortified food products in the market will now have to carry the "+F" logo on their label and comply with the standards set by the food safety authority, as per the new regulations notified by the Food Safety and Standards Authority of India (FSSAI). The regulations came into effect in January 2019. Such factors are expected to limit the growth of the market in focus during the forecast period.
This fortifying agent market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Parent Market Analysis
Technavio categorizes the global fortifying agent market as a part of the global commodity chemicals market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the fortifying agent market during the forecast period.
Who are the Major Fortifying Agent Market Vendors?
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
- Arla Foods Ingredients Group P/S
- BASF SE
- Cargill Inc.
- Evonik Industries AG
- Ingredion Inc.
- International Flavors & Fragrances Inc.
- Kellogg Co.
- Koninklijke DSM NV
- Nestle SA
- PPG Industries Inc.
This statistical study of the fortifying agent market encompasses successful business strategies deployed by the key vendors. The fortifying agent market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
Product Insights and News
-
Nestle SA - The company offers fortifying agent that includes baby foods, bottled water, cereals, chocolate and confectionery, coffee, culinary, chilled and frozen food, dairy, drinks foodservice, healthcare nutrition, ice cream, pet care, plant-based portfolio, brands A-Z, recipes, under the brand name of Nestle SA.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The fortifying agent market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Fortifying Agent Market Value Chain Analysis
Our report provides extensive information on the value chain analysis for the fortifying agent market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chains is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The value chain of the global commodity chemicals market includes the following core components:
- Inputs
- Inbound logistics
- Operations
- Outbound logistics
- Marketing and sales
- Support activities
- Innovation
The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.
Which are the Key Regions for Fortifying Agent Market?
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33% of the market's growth will originate from North America during the forecast period. US and Canada are the key markets for the fortifying agent in North America. Market growth in this region will be faster than the growth of the market in Europe.
The significant increase in the health consciousness of consumers and the bourgeoning support of government organizations will facilitate the fortifying agent market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
What are the Revenue-generating Application Segments in the Fortifying Agent Market?
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The fortifying agent market share growth by the dietary supplements segment will be significant during the forecast period. The growth is attributed to the high demand for dietary supplements due to benefits in the overall development of the human body and the health benefits attached to it. The outbreak of the COVID-19 has further boosted the consumption of dietary supplements owing to the positive impact of such supplements on the human immune system. For instance, the COVID-19 pandemic has provoked the consumption of food supplements by the Lithuanian population, the number of users has increased by more than 20%.
This report provides an accurate prediction of the contribution of all the segments to the growth of the fortifying agent market size and actionable market insights on post COVID-19 impact on each segment.
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Fortifying Agent Market Scope |
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|
Report Coverage |
Details |
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Page number |
120 |
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Base year |
2021 |
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Forecast period |
2022-2026 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 10.64% |
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Market growth 2022-2026 |
$ 43.24 billion |
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Market structure |
Fragmented |
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YoY growth (%) |
10.40 |
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Regional analysis |
North America, Europe, APAC, South America, and MEA |
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Performing market contribution |
North America at 33% |
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Key consumer countries |
US, China, India, Germany, Canada, and Brazil |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
Arla Foods Ingredients Group P/S, BASF SE, Cargill Inc., Evonik Industries AG, Ingredion Inc., International Flavors & Fragrances Inc., Kellogg Co., Koninklijke DSM NV, Nestle SA, and PPG Industries Inc. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
What are the Key Data Covered in this Fortifying Agent Market Report?
- CAGR of the market during the forecast period 2022-2026
- Detailed information on factors that will drive fortifying agent market growth during the next five years
- Precise estimation of the fortifying agent market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the fortifying agent industry across North America, Europe, APAC, South America, and MEA
- A thorough analysis of the market's competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of fortifying agent market vendors
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1. Executive Summary
2. Market Landscape
2.1 Market ecosystem
Exhibit 01: Parent market
2.2: Market Characteristics
Exhibit 02: Market Characteristics
2.2 Value chain analysis
Exhibit 03: Value chain analysis: Commodity chemicals
2.2.1 Inputs
2.2.2 Inbound logistics
2.2.3 Operations
2.2.4 Outbound logistics
2.2.5 Marketing and sales
2.2.6 Support activities
2.2.7 Innovations
3. Market Sizing
3.1 Market definition
Exhibit 04: Offerings of vendors included in the market definition
3.2 Market segment analysis
Exhibit 05: Market segments
3.3 Market size 2020
3.4 Market outlook: Forecast for 2020 - 2025
Exhibit 06: Global - Market size and forecast 2021 - 2026 ($ million)
Exhibit 07 Global market: Year-over-year growth 2021 - 2026 (%)
4. Five Forces Analysis
Exhibit 08: Five forces analysis 2021 & 2026
4.2 Bargaining power of buyers
Exhibit 09: Bargaining power of buyers
4.3 Bargaining power of suppliers
Exhibit 10: Bargaining power of suppliers
4.4 Threat of new entrants
Exhibit 11: Threat of new entrants
4.5 Threat of substitutes
Exhibit 12: Threat of substitutes
4.6 Threat of rivalry
Exhibit 13: Threat of rivalry
4.7 Market condition
Exhibit 14: Market condition - Five forces 2021
5 Market Segmentation by Application
5.1 Market segments
The segments covered in this chapter are:
- Dietary supplements
- Dairy and dairy products
- Cereals and cereal-based products
- Infant formula
- Others
Exhibit 15: Application - Market share 2021-2026 (%)
5.2 Comparison by Application
Exhibit 16: Comparison by Application
5.3 Dietary supplements - Market size and forecast 2021-2026
Exhibit 17: Dietary supplements - Market size and forecast 2021-2026 ($ million)
Exhibit 18: Dietary supplements - Year-over-year growth 2021-2026 (%)
5.3 Dietary supplements - Market size and forecast 2021-2026
Exhibit 19: Dietary supplements - Market size and forecast 2021-2026 ($ million)
Exhibit 20: Dietary supplements - Year-over-year growth 2021-2026 (%)
5.4 Dairy and dairy products - Market size and forecast 2021-2026
Exhibit 21: Dairy and dairy products - Market size and forecast 2021-2026 ($ million)
Exhibit 22: Dairy and dairy products - Year-over-year growth 2021-2026 (%)
5.5 Cereals and cereal-based products - Market size and forecast 2021-2026
Exhibit 23: Cereals and cereal-based products - Market size and forecast 2021-2026 ($ million)
Exhibit 24: Cereals and cereal-based products - Year-over-year growth 2021-2026 (%)
5.6 Infant formula - Market size and forecast 2021-2026
Exhibit 25: Infant formula - Market size and forecast 2021-2026 ($ million)
Exhibit 26: Infant formula - Year-over-year growth 2021-2026 (%)
5.7 Others - Market size and forecast 2021-2026
Exhibit 27: Others - Market size and forecast 2021-2026 ($ million)
Exhibit 28: Others - Year-over-year growth 2021-2026 (%)
5.8 Market opportunity by Application
Exhibit 29: Market opportunity by Application
6 Customer landscape
6.1 Overview
Exhibit 30: Customer landscape
7 Geographic Landscape
7.1 Geographic segmentation
Exhibit 31: Market share by geography 2021-2026 (%)
7.2 Geographic comparison
Exhibit 32: Geographic comparison
7.3 North America - Market size and forecast 2021-2026
Exhibit 33: North America - Market size and forecast 2021-2026 ($ million)
Exhibit 34: North America - Year-over-year growth 2021-2026 (%)
7.4 Europe - Market size and forecast 2021-2026
Exhibit 35: Europe - Market size and forecast 2021-2026 ($ million)
Exhibit 36: Europe - Year-over-year growth 2021-2026 (%)
7.5 APAC - Market size and forecast 2021-2026
Exhibit 37: APAC - Market size and forecast 2021-2026 ($ million)
Exhibit 38: APAC - Year-over-year growth 2021-2026 (%)
7.6 South America - Market size and forecast 2021-2026
Exhibit 39: South America - Market size and forecast 2021-2026 ($ million)
Exhibit 40: South America - Year-over-year growth 2021-2026 (%)
7.7 MEA - Market size and forecast 2021-2026
Exhibit 41: MEA - Market size and forecast 2021-2026 ($ million)
Exhibit 42: MEA - Year-over-year growth 2021-2026 (%)
7.8 Key leading countries
Exhibit 43: Key leading countries
7.9 Market opportunity by geography
Exhibit 44: Market opportunity by geography ($ million)
8 Drivers, Challenges, and Trends
8.1 Market drivers
8.1.1 Rising concerns on ever-increasing health problems
8.1.2 Growing aging population
8.1.3 Rising diseases out of vitamin and calcium deficiency
8.2 Market challenges
8.2.1 Stringent government regulations
8.2.2 High cost related to food fortifying agents
8.2.3 Intense competition among vendors
Exhibit 45: Impact of drivers and challenges
8.3 Market trends
8.3.1 Rising consumption of vitamin-infused foods & beverages
8.3.2 Rising chronic disease in APAC region
8.3.3 Increasing use of fortifying agents in nutricosmetics and probiotic cosmetic products
9. Vendor Landscape
10.1 Competitive scenario
10.2 Vendor landscape
Exhibit 46: Vendor Landscape
10.3 Landscape disruption
Exhibit 47: Landscape disruption
10.4 Industry risks
Exhibit 49: Industry risks
11. Vendor Analysis
11.1 Vendors covered
Exhibit 50: Vendors covered
10.2 Market positioning of vendors
Exhibit 51: Market positioning of vendors
10.3 Arla Foods Ingredients Group P/S
Exhibit 52: Arla Foods Ingredients Group P/S - Overview
Exhibit 53: Arla Foods Ingredients Group P/S - Product and service
Exhibit 54: Arla Foods Ingredients Group P/S - Key offerings
10.4 BASF SE
Exhibit 55: BASF SE - Overview
Exhibit 56: BASF SE - Business segments
Exhibit 57: BASF SE - Key offerings
Exhibit 58: BASF SE - Segment focus
10.5 Cargill Inc.
Exhibit 59: Cargill Inc. - Overview
Exhibit 60: Cargill Inc. - Product and service
Exhibit 61: Cargill Inc. - Key offerings
10.6 Evonik Industries AG
Exhibit 62: Evonik Industries AG - Business segments
Exhibit 63: Evonik Industries AG - Key offerings
Exhibit 64: Evonik Industries AG - Segment focus
10.7 Ingredion Inc.
Exhibit 65: Ingredion Inc. - Overview
Exhibit 66: Ingredion Inc. - Business segments
Exhibit 67: Ingredion Inc. - Key offerings
Exhibit 68: Ingredion Inc. - Segment focus
10.8 International Flavors & Fragrances Inc.
Exhibit 69: International Flavors & Fragrances Inc. - Overview
Exhibit 70: International Flavors & Fragrances Inc. - Business segments
Exhibit 71: International Flavors & Fragrances Inc. - Key offerings
Exhibit 72: International Flavors & Fragrances Inc. - Segment focus
10.9 Kellogg Co.
Exhibit 73: Kellogg Co. - Overview
Exhibit 74: Kellogg Co. - Business segments
Exhibit 75: Kellogg Co. - Key offerings
Exhibit 76: Kellogg Co. - Segment focus
10.10 Koninklijke DSM NV
Exhibit 77: Koninklijke DSM NV - Overview
Exhibit 78: Koninklijke DSM NV - Business segments
Exhibit 79: Koninklijke DSM NV - Key News
Exhibit 80: Koninklijke DSM NV - Key offerings
Exhibit 81: Koninklijke DSM NV - Segment focus
10.11 Nestle SA
Exhibit 82: Nestle SA - Overview
Exhibit 83: Nestle SA - Business segments
Exhibit 84: Nestle SA - Key News
Exhibit 85: Nestle SA - Key offerings
Exhibit 86: Nestle SA - Segment focus
10.12 PPG Industries Inc.
Exhibit 87: PPG Industries Inc. - Overview
Exhibit 88: PPG Industries Inc. - Business segments
Exhibit 89: PPG Industries Inc. - Key offerings
Exhibit 90: PPG Industries Inc. - Segment focus
12. Appendix
12.1 Scope of the report
12.1.1 ????Market definition
12.1.2 ????Objectives
12.1.3 ????Notes and caveats
12.2 Currency conversion rates for US$
Exhibit 91: ?Currency conversion rates for US$?
12.3 Research Methodology
Exhibit 92: ?Research Methodology
Exhibit 93: ??Validation techniques employed for market sizing?
Exhibit 94: ??Information sources
12.4 List of abbreviations
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
- Manufacturers and suppliers
- Channel partners
- Industry experts
- Strategic decision makers
Secondary sources
- Industry journals and periodicals
- Government data
- Financial reports of key industry players
- Historical data
- Press releases
DATA ANALYSIS
Data Synthesis
- Collation of data
- Estimation of key figures
- Analysis of derived insights
Data Validation
- Triangulation with data models
- Reference against proprietary databases
- Corroboration with industry experts
REPORT WRITING
Qualitative
- Market drivers
- Market challenges
- Market trends
- Five forces analysis
Quantitative
- Market size and forecast
- Market segmentation
- Geographical insights
- Competitive landscape
Frequently Asked Questions?
- US
- China
- India
- Germany
- Canada
- Brazil
- Rising concerns on ever-increasing health problems
Key Questions Answered
- What are the key global market and the regional market share?
- What are the revenue-generating key market segments?
- What are the key factors driving and challenging this market’s growth?
- Who are the key market vendors and their growth strategies?
- What are the latest trends influencing the growth of this market?
- What are the variables influencing the market growth in the primary regions?
- What are the factors influencing the growth of the parent market?
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