Greater concern for food fortification a public health initiative
With the rising prevalence of nutritional deficiencies, particularly in the developing world, food fortification programmes have taken shape in the form of public health initiatives. Statistical studies have proven that iodine fortification has decreased the incidence of goitre by almost 90%. Similarly, milk fortified with Vitamin D can reduce the occurrence of rickets in young children, and the fortification of flour, cereal, and bread with Vitamin B can effectively tackle the nutritional deficiencies of Vitamin B. Product manufacturers actively involved in the fortified foods market are experimenting with new technologies that prevent the degradation of Vitamin D from refrigeration and UV light.
Discretionary fortification nothing but a marketing gimmick
Product manufacturers have wholeheartedly adopted discretionary fortification by manipulating dietary values. Discretionary fortification can result in food supply chain inefficiencies or even cause adverse health effects. Therefore, discretionary fortification must only be carried out by properly evaluating the nutritional status of a specific population. Increased fortified food intake, especially amongst a non-target audience could possibly lead to nutrient intake above the recommended or permissible limit. Excessive intake of fortified products can be one of the reasons for indigestion or genomic alteration.
Focus on basic foods instead of processed foods in the fortified foods market
The basic foods application segment of the global fortified foods market is predicted to be valued at more than US$ 49 Bn in 2017, and should reach just under US$ 94 Bn by the end of the forecast period. The yoghurt and others sub-segments have the largest contribution to the fortified foods market with the former alone being approximately 2/5th of the basic foods segment in terms of value. The highest CAGR is anticipated to be in the basic foods segment as milk and milk products are rich in calcium and are perfect to combat vitamin D and calcium deficiency across the globe. Therefore, fortification of basic foods is far more critical than that of processed foods in the fortified foods market. Yoghurt fortification is poised to witness a robust CAGR of 6.7% from 2017-2027, meaning that key stakeholders in the fortified foods market would do well to target this segment with customised strategies.
Fortification measures could reduce the economic burden of iron deficiency
A study conducted in Brazil showed that the lost productivity on account of iron deficiency in the country cost US$ 4 per capita i.e. 9% of the national GDP. A sustainable fortification initiative implemented properly would cost much less than avoidable losses by way of anaemia and needs to be a priority for both regional as well as national governments in countries where this poses a problem.
Processed foods slightly larger in the North America fortified foods market
It is a closely fought battle between processed foods and basic foods in the North America fortified foods market with the former leading by a sliver in 2017. However, this is anticipated to flip by the end of the forecast period with basic foods accounting for about 51% market share by the end of 2027. Milk and milk products fortified with Vitamin D are critical in the North America fortified foods market and the basic foods segment is expected to push past US$ 20 Bn by the end of the decade long study. Margarine fortification is also gaining substantial traction and companies actively involved in the fortified foods market would do well to take this into cognizance.
Malnutrition is a global menace that has still not been effectively tackled and is a particular concern in emerging or less-developed countries. In addition, changing consumption patterns and lifestyle changes in developed countries have led to customers there demanding foodstuffs rich in nutritional supplements. Future Market Insights has prepared a report titled ‘Fortified Foods Market: Global Industry Analysis 2012-2016 and Opportunity Assessment 2017-2027’ that is a detailed study of the fortified foods market for the period from 2017 to 2027. All the important metrics such as CAGR, absolute dollar opportunity, and Y-o-Y growth rate have been taken into account while preparing this report.
The fortified foods market report begins with the executive summary that includes an overview and a brief analysis of the global fortified foods market. The summary provides you with the fortified foods market value and size in terms of US dollars and tonnes respectively for both 2017 and 2027 so that you can gain a clear picture of the opportunities that exist. The Wheel of Fortune is an attractive, easy-to-understand graphical representation of the fortified foods market. The summary is complemented by the introduction chapter consisting of the definition as well as the taxonomy of the fortified foods market.
Global Fortified Foods Market Taxonomy
The market dynamics chapter is an important section of the fortified foods market where we highlight the macroeconomic factors that can impact the fortified foods market along with their relevance. The fortified foods market has been studied on the basis of seven key geographic regions viz. North America, Latin America, Western Europe, Eastern Europe, APEJ, Japan, and MEA. We have given an equal amount of emphasis on both developed and emerging regions by focussing on the largest countries in the specific region. The historical market size has been compared and contrasted with the expected future growth, which should help you decide the region or country you seek to target in the fortified foods market. The regulations pertaining to the region, fortification status, PESTEL and Porter’s Five Forces analysis helps you get a comprehensive idea of the regional fortified foods markets.
The competition in the fortified foods market is extremely fierce and it would be recommended to both incumbents as well as new market entrants to conduct an exhaustive SWOT analysis of your rivals in the fortified foods market. Our informative competitive dashboard highlights the key financial ratios of the company for the past four years, revenue growth, recent developments, and broad based strategy analysis. The industry code map and NAICS code conclude this chapter of the fortified foods market report.
The research methodology devised by Future Market Insights stands tall in the industry. Our team of experienced, knowledgeable analysts begin their assessment of the fortified foods market with extensive primary and secondary research. After the requisite data is gathered, it is rigorously scrutinised with the help of the triangulation method that is the perfect trifecta of primary research, secondary research, and analysts’ insights. The data gathered is then validated using proprietary company tools to extract all the qualitative and quantitative information pertaining to the global fortified foods market.