The
global fortified foods market is primarily driven due to increasing
awareness of consuming healthy and nutritious foods to maintain a
disease free healthy lifestyle. The global fortified foods market is
expected to witness steady growth during the forecast period from
2015 to 2021. The fortified foods market is segmented into by product
type and geography. On the basis on product type, the market is
segmented into vitamins and minerals fortified foods. Geographically
the fortified foods market is segmented into North America, Europe,
Asia Pacific and rest of the World.
The
fortified foods market includes a wide range of product lines such as
cereals, baby foods and formulas. In recent years, fortified foods
have enjoyed huge popularity among health conscious people. This
market is extended into a half dozen food categories, hence it is
difficult to track and analyze the market with precision. However,
the global fortified foods market is highly fragmented and complex,
but it is a profitable market.
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The
global fortified foods category was headed by cereals with high
nutrition. The global enriched and fortifies foods market is showing
tremendous progress during the forecast period due to growing
awareness about a healthy lifestyle. This market is primarily driven
due to rising health concern among people and the trend of eating
ready to eat foods in daily busy schedules. Growth of this market is
depending on the availability and geographical distribution of
fortified foods and the benefit awareness among the consumers. In
spite of all these advantages offered by fortified foods, there are
some restraining factors that prevent the growth of the market such
as regulatory issues generated by food safety department in the food
industries across the world.
Some
of the global players are focusing on product development to explore
new application area to ensure success and attain sustainability in
the forecast period. Understanding the consumer demand and market
opportunities, fortified foods producers are focusing on launching
different varieties of vitamins and mineral fortified foods.
Furthermore, sensing a lucrative opportunity, major fortified foods
manufacturers have focused on purchasing the successful smaller
players to create a large competitive industry in this niche market.
Merger and acquisitions coupled with rapid product development have
made this fortified foods market a confusing, complex though a
profitable market place. Moreover, changing regulatory environment
and stringent government regulations has restrained the entrance of
some new companies in this lucrative market.
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In
earlier time, the vitamins and minerals were basically fortified and
enriched to be used by means of pills but in coming years the vitamin
fortified food market is expected to see a promising future. Health
conscious people today are becoming more prone to have health
benefits enriched food supplements and wellness related products. All
these factors boost the growth of the fortified foods market with
major market players diversifying into the production of new
varieties of fortified food products. Continuously growing demand
from health concern consumers are expected to fuel the growth in this
market. Success behind the growth of fortified foods market generated
from the industry’s tremendous high growth rate of product
development that attract the consumers.
Some
of the key players operating in the fortified foods market are Abbott
Laboratories, The Proctor & Gamble Company, General Mills, Inc.,
H.J Heinz Company, Land O’Lake, Philip Morris Companies, Kellogg
Company and Hain Food Group Inc. among others.
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