Fortified Foods Market to Expand Significantly by 2033

The global fortified food market is projected to reach a value of US$ 257,715 million by 2033, growing at a positive CAGR of 6.2% for the forecast period. Consumers in industrialized economies are increasingly aware of the health benefits of fortified foods, which is a driving force behind the market for these products.

A significant amount of progress has been achieved in the area of food fortification across Africa. In order to prevent and control micronutrient deficiencies, more countries are supporting staple food fortification, in addition to capacity building and system strengthening.

A fortified food or condiment is that which contains one or more micronutrients intentionally added to improve health and nutritional quality, while posing minimal health risks. The addition of micronutrients can increase the nutritional value of staple foods as well as help restore micronutrients lost during processing.

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.

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With the prevalence of chronic diseases and nutrient deficiencies, consumers are increasingly seeking foods that contain essential nutrients and support specific health goals. As fortified foods are highly convenient, marketable, and strategically positioned, modern trade outlets are valuable drivers of growth.

A variety of fortified foods are being developed by manufacturers that meet the various preferences and dietary restrictions of consumers, such as vegan, gluten-free, and dairy-free diets. Fortified foods are increasingly containing functional ingredients such as probiotics, prebiotics, antioxidants, and botanical extracts to make them more nutritious, functional, and tasty. A number of health benefits have been linked to these ingredients, including improving gut health, boosting immunity, and preventing disease.

With the continual advancements in drying technology, including freeze-drying, spray drying, and vacuum drying, it is anticipated that these advances will lead to improving efficiency, cost-effectiveness, and better retention of the nutrient content of the crops. There is a possibility that consumers will find it more appealing to consume fortified foods produced through these methods.

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.

Competitive Landscape

More companies are collaborating and establishing strategic partnerships in the fortified foods industry.

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.

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market.