Fortified foods market is expected to grow significantly over the forecast period owing to the increasing demand for nutrients in food and beverages. Growing food & beverage industry and increased processing of food is expected to boost the demand for fortified foods. Hectic lifestyle, rising disease occurrences and growing health concerns among consumers is anticipated to spur the market growth over the next seven years. Moreover, increased processing of food leads to loss of nutrients that must be restored which is expected to fuel the market demand.
Increasing disposable income is driving consumers to spend extra on healthy food & beverages which are further expected to augment the market growth. Furthermore, fortified food has medicinal and healing properties which are expected to contribute significantly towards the demand owing to shift in consumer preference from supplements to fortified foods over the forecast period. Addition of vitamins and other micronutrients in various food items including cereals and cereal based products, fats and oils, tea and other beverages, milk and milk products, accessory food items and infant formulas is expected to increase the demand over the upcoming years.
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Growing demand for junk foods including pizzas and burgers has led to the fortification of these products which is expected to further boost the demand for fortified foods over the next seven years. In addition, foods must address regulatory, safety, nutrition and technical constraints enforced by various health organizations including WHO (World Health Organization) and EFSA (European Food Safety Authority) which are expected to surge market growth.
Asia Pacific is expected to contribute significantly to market growth owing to rising health concerns and increasing disease occurrences in this region. Europe is expected to grow substantially owing to the existence of functional food industries and increasing concerns regarding health among consumers. Latin America and MEA are expected to have a significant growth owing to rising awareness among consumers regarding health and diseases. However, excessive usage among children can cause skeletal abnormalities and liver damage which is expected to restrain the market growth over the forecast period.
Global key players include Kraft Foods Inc., Dean Foods, Kellogg Company, Fortified Food Coatings, Nestlé S.A., Meiji Group, Unilever Company and Red Bull GmbH. Fortified Food Coatings developed a way to add minerals and vitamins to ready food by using a layer of gelatin is expected to increase the demand for fortified foods over the forecast period. In addition, introduction of fiber fortified foods is expected to surge the market growth.
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