The global Mineral Fortification Market is expected to reach a market valuation of USD 69.4 Billion by the end of 2022, accelerating with a CAGR of 7.1% during the forecast period (2022 to 2032). Mineral fortification sales are expected to account for about 45% of the vitamins and minerals fortification market in terms of value.
| Attributes | Details |
|---|---|
| Mineral Fortification Market Size (2022E) | USD 69.4 Billion |
| Market Projected Size (2032F) | USD 137.2 Billion |
| Value CAGR (2022 to 2032) | 7.1% |
| Top 3 Countries Market Share | 38.2% |
With increasing favorable governmental and non-governmental entities policies and growing health consciousness, the demand in the market is projected to surge. Further, due to increased disposable income, consumers are inclined to spend more on nutritious foods. Over the projected period, this factor is expected to drive the growth of the mineral fortification market.
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According to Future Market Insights (FMI), the mineral fortification market grew at a CAGR of 6.7% between 2017 and 2022. Growth in the market is primarily attributed to increasing product innovations and growing demand for nutritious food products across the globe.
Apart from providing daily essential nutrients, mineral fortified offers medicinal capabilities that provide healing effects. They also improve the defence mechanism against common ailments. Due to this these health benefits, adoption of increasing the consumption of eatables over previously favored supplements.
Over the assessment period, the market for mineral fortification is driven by increasing health concerns, resulting in surging preference for these goods. There is a wide range of foods available, which vary depending on the area, consumer preferences, and availability.
Growing need to improve the monotonous staple cereal diet is expected to facilitate the growth in the mineral fortification market. Concerns about the nutritional characteristics of several staple meals have resulted in a plethora of mineral-fortified products in the food and beverage industry.
Minerals are well-known for their therapeutic capabilities since they improve the immune system in the body. Hence, people are becoming more aware of critical micronutrients and their importance in their diet. Amid rising prevalence of diseases such as osteoporosis and anemia, the demand for mineral fortification is surging in the market.
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Consumption of Fortified Packaged Food Products to Drive Sales in Mineral Fortification Market
According to Future Market Insights (FMI), the USA mineral fortification market is expected to grow at a CAGR of 7.3% over the forecast period (2022 to 2032). Adding nutrients or ingredients that are not found naturally in the food product improves its functionality.
On the back of this, fortification of food with micronutrients such as minerals is expected to witness a surge in demand over the upcoming decade.
Besides this, rising concerns about bone and among pregnant women are becoming more prevalent. Hence, the need for fortified packaged foods with calcium is expected to increase. As a result, numerous brands of dairy products and bread emphasize calcium content to promote bone health.
Mineral Fortification in India to Benefit from Favorable Government Initiatives to Fortify Staple Foods
Micronutrient deficiency is the primary factor affecting the population in India, and malnutrition remains one of the most important health issues. Every year, food deficits and related health concerns affect rural and urban population.
Hence, key players are eyeing the India market due to the rising demand for fortified foods as people are becoming more aware of better nutritional options. Besides this, increasing government efforts to fortify staple foods to combat malnutrition is another factor boosting the market.
Sales of Mineral Fortification in Food and Dietary Supplement to Gain Tailwinds
As per the study, growing popularity of functional meals has increased the demand for mineral fortification across the globe. Consumers who previously preferred supplements are increasingly opting for these functional meals because of their health benefits and wholesomeness, giving the mineral fortification sector a boost.
Iron to Remain Highly Sought-After for Fortification through 2032
Food fortification is a way of addressing iron deficiency that is used worldwide. The lack of bioavailability of iron compounds is a major issue in several food fortification schemes. Developing countries such as India and China are promoting the fortification of iron which is driving the overall mineral fortification market.
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Koninklijke DSM NV, The Archer Daniels Midland Company, BASF SE, Cargill Incorporated, Merck & Co. Inc., DuPont de Nemours Inc., DSM Nutritional Products, ABBOTT LABORATORIES, General Mills, Albion Minerals., The Proctor and Gamble Company, Specialty Minerals Inc., Heinz, Kellogg's., Pestell Nutrition Inc, Wright Group, And Fortitech Inc., are among the important players highlighted in this research.
| Attributes | Details |
|---|---|
| Market Size (2022E) | USD 69.4 Billion |
| Market Projected Size (2032F) | USD 137.2 Billion |
| Value CAGR (2022 to 2032) | 7.1% |
| Forecast Period | 2022 to 2032 |
| Historical Data Available for | 2017 to 2021 |
| Market Analysis | USD Billion for Value and MT for Volume |
| Key Regions Covered | North America; Latin America; Europe; East Asia; South Asia; Oceania; and Middle East & Africa |
| Key Countries Covered | United States, Canada, Brazil, Mexico, Germany, UK, France, Italy, Spain, Nordic, Russia, Poland, China, Japan, South Korea, India, Thailand, Indonesia, Malaysia, Singapore, Australia, New Zealand, GCC countries, North Africa, South Africa, others. |
| Key Segments Covered | Mineral Type, End-Use Application, and Region |
| Key Companies Profiled | Koninklijke DSM NV; The Archer Daniels Midland Company; Pestell Nutrition Inc; BASF SE; Cargill Incorporated; Merck & Co. Inc.; DuPont de Nemours Inc.; Abbott Laboratories; DSM Nutritional Products; General Mills; The Proctor and Gamble Company; Specialty Minerals Inc.; Heinz; Kellogg's.; Albion Minerals.; Wright Group; Fortitech Inc.; Others (on additional request) |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
The mineral fortification market will reach nearly USD 69.4 Billion by 2022.
The mineral fortification market is anticipated to reach a valuation of USD 137.2 Billion by the end of 2032.
The mineral fortification market is expected to register a 7.1% CAGR between 2022 and 2032.
Demand for mineral fortification in North America is anticipated to drive the demand during the forecast period of 2022 to 2032.
Key players profiled in the market are Koninklijke DSM NV, The Archer Daniels Midland Company, Pestell Nutrition Inc, BASF SE, Cargill Incorporated, Merck & Co. Inc., among others.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Mineral Fortification Market Analysis 2017 to 2021 and Forecast 2022 to 2032 5. Global Mineral Fortification Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Mineral Type 5.1. Calcium 5.2. Zinc 5.3. Iron 5.4. Iodine 5.5. Other Minerals 6. Global Mineral Fortification Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By End-Use Application 6.1. Food 6.2. Beverages 6.3. Dietary Supplements 6.4. Animal Feed 7. Global Mineral Fortification Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Region 7.1. North America 7.2. Latin America 7.3. Europe 7.4. East Asia 7.5. South Asia 7.6. Oceania 7.7. Middle East & Africa (MEA) 8. North America Mineral Fortification Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 9. Latin America Mineral Fortification Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 10. Europe Mineral Fortification Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 11. East Asia Mineral Fortification Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 12. South Asia Mineral Fortification Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 13. Oceania Mineral Fortification Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 14. MEA Mineral Fortification Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 15. Key Countries Mineral Fortification Market Analysis 16. Market Structure Analysis 17. Competition Analysis 17.1. Koninklijke DSM NV 17.2. The Archer Daniels Midland Company 17.3. Pestell Nutrition Inc. 17.4. BASF SE 17.5. Cargill Incorporated 17.6. Merck & Co. Inc. 17.7. DuPont de Nemours Inc. 17.8. Abbott Laboratories 17.9. DSM Nutritional Products 17.10. General Mills 17.11. The Proctor And Gamble Company 17.12. Specialty Minerals Inc. 17.13. Heinz 17.14. Kellogg's 17.15. Albion Minerals 17.16. Wright Group 17.17. Fortitech Inc. 17.18. Others (on additional request) 18. Assumptions & Acronyms Used 19. Research Methodology
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Mineral Fortification Market
