The
global fortified rice market consists of numerous players who are
focused towards forming partnerships with the public sector in order
to reap maximum benefits, says Transparency Market Research on the
basis of a recently published report. Many companies present in the
market are expected to capitalize on various profitable avenues in
order to reap larger market shares. Aggressive advertisements to
portray selling of rice and associated products having better quality
than competitors is a prime strategy implemented by most businesses
in the global fortified rice market.
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Cargill
Incorporated, Bühler AG, Bunge Limited, General Mills, Inc., Wilmar
International Ltd., and BASF SE, are key players operating in the
global fortified rice market. Many companies are partnering with
local farmers and other regional companies to expand their presence
in the sector. These enterprises also are highly investing in this
market to achieve positive research results and innovative techniques
that can revolutionize fortified rice manufacturing processes. With
the number of player entering the market rising in recent times, the
competitiveness is expected to intensify during the next few years.
Notable
progress occurring in food technologies, especially in terms of
promotion of fortified rice benefits, is primarily responsible for
driving the global fortified rice market. Moreover, a rising demand
for fortified rice as a key source of energy and nutrients too has
made the market gain fast paced growth. Recipes that make use of
fortified rice are widely being witnessed all over the world. Thus,
importance attached to consumption of fortified rice-rich foods also
has proved to be beneficial to the global fortified rice market.
Furthermore, a rising inclination of consumers for fortified rice is
expected to make the market witness soaring growth in the near
future. Lastly, new production techniques and experimental trials are
being conducted to enhance the production of fortified rice for
large-scale production, thereby expanding the global fortified rice
market.
The
global
fortified rice market is foretold to gain revenue worth
US$25,000 mn by 2026, and such a splendid growth is being projected
to occur during the forecast period from 2017 to 2026.
High
Costs of Manufacturing Fortified Rice Products Hampers Expansion
However,
processing fortified rice products is not yet available on a
large-scale basis in many underdeveloped and emerging economies. This
factor is greatly hindering the fortified rice market, especially
from a regional perspective. Also, high costs required to set up
plants that manage everything ranging from segregating raw rice
material to coming up with the final product deemed safe for selling,
could prove to be expensive for the end users. This is notably
hindering the global fortified rice market too. Nevertheless, many
companies are expected to introduce cost-effective solutions in
future, which could reduce effects of the restraints acting on this
market.
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