The global fortified food market is poised for substantial growth, with a projected value of US$ 257,715 million by 2033, reflecting a robust CAGR of 6.2% from 2023. This surge is attributed to heightened health consciousness among consumers, especially in industrialized nations, where fortified foods are gaining traction as a means of addressing nutritional deficiencies. Emerging markets are also witnessing an uptick, fueled by increased consumer affordability.
The World Health Organization (WHO) and the Food and Agriculture Organization (FAO) define food fortification as the deliberate addition of necessary micronutrients and vitamins to food to make it more nutritious. Business owners, however, have the opportunity to tap into the growing economies of Asia and the Pacific. North America and other developed regions are also predicted to continue to drive demand for these products.
Demand Dynamics:
- Consumer Awareness and Health Trends: A rising awareness of nutrition’s role in health, coupled with an increase in chronic conditions, propels the demand for fortified foods. Clean-label options are gaining favor, reflecting a broader trend towards health-conscious choices.
- Dominance of Fortified Dairy: Fortified dairy products are anticipated to lead the market, aligning with the global push towards nutritious and functional foods
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The fortified foods market presents a compelling narrative of sustained growth, driven by evolving consumer preferences, strategic alliances, and technological advancements. Investors keen on long-term, sustainable returns should closely monitor developments and opportunities within this flourishing sector.
Market Outlook and Future Prospects:
- Nutritional Fortification Advancements: Advancements in fortification technologies, including drying methods, offer portable, lightweight, and convenient options, catering to modern, busy lifestyles.
- Global Market Expansion: The market, encompassing key regions like North America, Europe, Asia-Pacific, and the Middle East, is set to witness sustained growth, providing lucrative opportunities for investors.
Key Takeaways from the Market Study
- The fortified foods market is estimated to reach US$ 207,352.6 million by 2032.
- A CAGR of 2.5% was recorded between 2018 and 2022 for fortified foods.
- Japanese sales accounted for 5% of the global market in 2022.
- According to analysts, the market for fortified foods in the United Kingdom grew by 2.5% in 2022.
- The micronutrient market for vitamin D is forecast to dominate during the forecast period.
- Yogurt with added vitamins is expected to gain popularity in the coming years.
“Innovation and the development of new products will fuel fortified food market growth. A rising number of government initiatives and research and development activities are expected to drive growth in the market,” says an FMI analyst.
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Competitive Landscape
Fortified food companies conduct research and development, innovate, develop products, expand geographically, and establish strategic partnerships.
- In July 2023, Big G breakfast cereals will contain double the amount of vitamin D as they currently do, providing 20% of the daily dose of vitamin D. The first cereals to include the vitamin boost are Cinnamon Toast Crunch and Cheerios; later this summer, Cocoa Puffs, Lucky Charms, Trix, and Cookie Crisp will follow. By the end of this year, the company plans to offer a full line of vitamin D-fortified cereals nationwide.
- In August 2023, the Directorate of Food and Civil Supplies will collaborate with PATH, its technical partner, to raise awareness about plastic rice circulating on social media.
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Fortified Foods Market by Category
By Raw Material:
- Flours
- Rice Flour
- Wheat Flour
- Corn Flour
- Rice
- Salt
- Milk
- Oil
- Sugar
By Micronutrients:
- Vitamins
- Vitamin A
- Vitamin B
- Vitamin C
- Vitamin D
- Other Vitamins
- Minerals
- Calcium
- Iron
- Zinc
- Iodine
- Other Minerals
- Ther Fortifying Nutrients
By Application:
- Basic Food
- Cheese
- Butter
- Yoghurt
- Others
- Processed Food
- Extruded Products
- Powdered Products
- Value added Food
- Condiments
- Juice
By Technology:
- Drying
- Oven Drying
- Drum Drying
- Spray Drying
- Extrusion
- Coating & Encapsulation
- Others
By Sales Channel:
- Modern Trade
- Online Sales
- Neighborhood Stores
- Other Retail Format
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia & Pacific
- East Asia
- The Middle East & Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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