The
global fortified rice market encapsulates market players who are
focused towards forming coalitions with the public sector in order to
reap maximum benefits. Fortified rice is gradually becoming an
important component of gastronomy due to the health benefits served
by it. The market players want to tap into the market and educate
people about the pros of consuming fortified rice. The deficiency of
key nutrients amongst a large chunk of the population is another key
standpoint that the market players are anticipated to bank on. The
key market participants marked by Transparency Market Research (TMR)
include Wilmar International Ltd., BASF SE, Cargill Incorporated,
General Mills, Inc., Bunge Limited, and Bühler AG. These market
players are expected to capitalize on the growth spaces within the
market in order to reap a larger market share. Claims to provide the
most effective form of fortified rice are also expected to be a part
of the business strategy of key market players.
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Transparency
Market Research (TMR) prognosticates a trajectory of growth over the
period from 2017 to 2026. The market is likely to ripen during that
timeframe due to the inclinations of the people towards fortified
rice. The report presented by TMR is gives an analytic view on the
soundness of the market and its successive growth in the coming
years. The market value in terms of revenue is projected to cross US$
25,000 Mn by the end of 2026. This shows that there are commendable
opportunities resting within the global market.
Presence
of Key Nutrients in Fortified Rice Propels Demand
The
deficiency of micronutrients within the body places a toll on the
overall health of individuals. Chronic malnutrition along with
deficiencies of key vitamins and minerals within in children is a
major concern for a number of regions. This makes it imperative to
have a regular supply of fortified rice that enriches the body with
key minerals and vitamins. Moreover, the fortification of rice is an
easy and cost effective way of ensuring that the population gets
essential micronutrients. A rough estimate reveals that nearly 2
million people across the globe are suffering from deficiencies of
minerals and vitamins. Weak cognitive ability amongst children is a
consequence of the insufficient intake of micronutrients. This has
driven demand for fortified rice that can discharge key nutrients
into the body. The immunity of individuals also suffers on account of
nutrient deficiency and the low physical strength amongst children is
also characteristic of the same deficiency. The alarming rates of
morbidity and mortality especially newborns and mothers have also
daunted the healthcare fraternity. The intake of fortified
rice can substantially reduce the risk of fatality amongst
these demographics of the population.
Ardent
Efforts Made by Market Players Bolster Market Growth
The
efforts made by the rice industry in order to make fortified rice
available have been commendable. They have partnered with other
entities for the distribution of fortified rice across several areas
and regions. The mid-day meal scheme in India has enhanced the
development prospects of the market. Moreover, the Indian government
has coordinated with PATH and WFP to cover as many areas as possible
for the distribution of fortified rice. Moreover, the U.S. Food
Assistance Industries have expanded their portfolio to provide food
rich in minerals and vitamins. The aforementioned factors have
transcended as key drivers for the global market. Rice is consumed as
a staple food across China and India, which further escalates th
prospects of market growth.
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