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Enriched Food Market

Enriched Food Market

by Product Type (Vitamins, Minerals Cereal-based Products, Dairy Products, Beverages, Infant Formulas, and Others), Application (Basic Food and Processed food), and Distribution Channel (Supermarket/Hypermarket, Convenience Stores, Pharmacy/Drug Store, Online Retail Store, and Others): Global Opportunity Analysis and Industry Forecast, 2021-2030

Report Code: A13849
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Nov 2022 | 694 Views
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The Enriched Food Market expansion can be linked to rising consumer awareness of health issues and rising disposable income on a global scale. Furthermore, as fortified foods can give therapeutic benefits in addition to necessary nutrients and a high level of energy, demand for these goods is expected to rise in the near future. Market growth is expected to be fueled by increased investment in the development of new varieties of fortified foods. Leading food and beverage companies are putting a greater emphasis on producing enhanced foods. Along with rise in consumption of vitamin-enriched meals, the global fortified foods industry has seen considerable expansion in recent years. Over the next seven years, the fortified foods market is expected to be driven by rise in health concerns and an increase in illness incidence. During the forecast period, rise in consumer disposable income is expected to support market growth by encouraging consumers to spend more on healthy food products. Apart from energy and necessary nutrients, fortified foods have medicinal compounds that provide healing effects. Over the next few years, rise in demand for this category of foods is predicted to raise demand for fortified foods.

COVID-19 Impact analysis

  • The COVID-19 pandemic has changed the market landscape. The market ecosystem has changed the way supply is accessed on the market. The outbreak (COVID-19), as a result of trade limitations and a decrease in consumption as a result of lockdowns by governments globally, has played a massive role in the enriched food market in 2020. 
  • Food and Beverages producers depend on domestic and international suppliers for supply of raw materials. Since many governments restricted the movement of goods across the countries and locally, the production of raw materials had to stop. 
  • During the forecast period, growth in demand for local, sustainable and organic food production should have a positive effect on the dairy food market. Production of organic foods, including organic dairy products, focuses on consumer health, environmental and animal welfare. 

Top Impacting Factors
Vitamins and minerals were fortified and strengthened so that they could be taken as pills. However, the market for vitamin-fortified foods is expected to rise rapidly in the future years. 
People's growing health consciousness has prompted them to place a greater emphasis on the health advantages of enriched dietary supplements and wellness items. 
The worldwide fortified foods market is predicted to grow rapidly during the forecast period as a result of these factors.
Furthermore, the market will benefit greatly from the main industry players' development of new varieties of fortified food products. 
Throughout the projected period, demand for fortified foods is expected to remain high due to increased demand from health-conscious customers. Leading companies' product differentiation tactics to obtain competitive advantage are projected to boost the market's growth.

Market Trends

  • People have Adopted Healthy Eating Habits 
  • The market is primarily driven by population growth and changes in consumer dietary preferences. People are more worried about their health and are willing to pay a premium for foods that are specifically advantageous to their well-being. As a result of this trend and public awareness, the market for vitamin fortified and mineral supplemented foods and beverages is growing. In industrialized countries, health-conscious people, such as pregnant women, guardians of newborns, and the elderly, dominate the market since they are most aware of the benefits of fortified foods and beverages. However, due to increased disposable income in emerging countries, individuals are becoming more concerned about their health, driving the market to grow over the forecast period. 
  • The Market is Dominated by North America and Europe
  • The most important markets for fortified and health goods are North America and Europe. Some of the key reasons that drive the growth of the region's vitamin-fortified & mineral-enriched food & beverage market are rise in consumer interest and a greater understanding of the immunity-enhancing properties of appropriate diet and dietary habits. Asia-Pacific is the fastest-growing region, as manufacturers in countries like Japan and China have become more creative with dairy packaging, ingredients, and flavors, making it easier to introduce fortified varieties and boosting the market.

Key Benefits of the Report

  • This study presents the analytical depiction of the enriched food market along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the enriched food market share.
  • The current market is quantitatively analyzed from 2020 to 2028 to highlight the enriched food market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
  • The report provides a detailed enriched food market analysis based on competitive intensity and how the competition will take shape in coming years

Questions Answered in the Enriched Food Market Research Report

  • Which are the leading players active in the enriched food market?
  • What are the current trends that will influence the market in the next few years?
  • What are the driving factors, restraints, and opportunities in the market?
  • What future projections would help in taking further strategic steps?
  • What is “enriched food market " prediction in the future?
  • Which will be the niches at which players profiling with recent advancements should set a presence?
  • What are the driving factors and opportunities in the market?
  • What are the current trends and predicted trends?
  • What are the challenges faced in the "enriched food market"?

Enriched Food Market Report Highlights

Aspects Details
By Product Type
  • Vitamins
  • Minerals Cereal-based Products
  • Dairy Products
  • Beverages
  • Infant Formulas
  • Others
By Application
  • Basic Food
  • Processed Food
  • Distribution Channel
  • Supermarket/Hypermarket
  • Convenience Stores
  • Pharmacy/Drug Store
  • Online Retail Store
  • Others
By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (Germany, France, UK, Spain, Italy, Rest of Europe)
  • Asia-Pacific  (China, India, Japan, Australia, South Korea, Rest of Asia-Pacific)
  • LAMEA  (Latin America, Middle East, Africa)
Key Market Players Nestle S.A., BASF SE, General Mills, Inc, Tata Chemicals Limited, Mondelez International, Inc., Cargill Incorporated, Danone, Buhler AG, Bunge Limited, Unilever PLC, Koninklijke DSM NV, Stern-Wywiol Gruppe GmbH & Co. KG, Arla Foods amba.

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