Market Size of Global Mineral Fortification Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 4.17 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Mineral Fortification Market Analysis
The mineral fortification market is projected to record a CAGR of 4.17% during the forecast period (2020 - 2025).
- The fortification as a way of value-addition has been gaining traction quite recently, owing to the collective efforts from both governmental and non-governmental agencies in the backdrop of rising health consciousness and enhanced awareness among the general masses.
- Minerals and vitamins in particular as a type of micronutrients are known to prevent diseases, strengthen immune systems, and improve productivity and cognitive development.
Mineral Fortification Industry Segmentation
The mineral fortification market includes revenue generated through food, beverage, dietary supplement, and animal feed. Additionally, the study covers market revenue in major countries of the regions North America, Europe, Asia-Pacific, South America, and Middle-East and Africa.
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| Animal Feed |
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Global Mineral Fortification Market Size Summary
The mineral fortification market is experiencing significant growth, driven by increasing health consciousness and awareness about the importance of micronutrients like minerals and vitamins. These micronutrients are essential for preventing diseases, enhancing immune systems, and improving cognitive development. The market is primarily fueled by the need to enhance the nutritional profile of staple cereal diets, which often lack essential minerals. This has led to the development of a wide range of mineral-fortified products in the food and beverage sectors. The rising incidence of health issues such as osteoporosis and anemia has further heightened consumer awareness about the importance of incorporating key micronutrients into their diets, thereby boosting the demand for mineral fortification.
Regionally, Asia-Pacific leads the market, followed by Europe and North America, with significant growth observed in the soft drink sector across developed markets. China is expected to see substantial growth due to its strong food industry and increasing elderly population. Emerging markets like India, Pakistan, and Bangladesh are also expanding rapidly as they explore effective ways to fortify staple foods with minerals. The implementation of milk fortification programs in various countries is anticipated to further drive market demand. The market is highly competitive, with both global and local players such as Koninklijke DSM NV, Archer Daniels Midland, and BASF SE vying for market share. The presence of numerous regional players intensifies competition, particularly in terms of pricing, brand recognition, and catering to regional tastes and preferences.
Global Mineral Fortification Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Drivers
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1.2 Market Restraints
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1.3 Industry Attractiveness - Porter's Five Forces Analysis
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1.3.1 Threat of New Entrants
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1.3.2 Bargaining Power of Buyers/Consumers
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1.3.3 Bargaining Power of Suppliers
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1.3.4 Threat of Substitute Products
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1.3.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Application
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2.1.1 Food
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2.1.2 Beverage
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2.1.3 Dietary Supplement
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2.1.4 Animal Feed
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2.2 Geography
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2.2.1 North America
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2.2.1.1 United States
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2.2.1.2 Canada
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2.2.1.3 Mexico
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2.2.1.4 Rest of North America
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2.2.2 Europe
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2.2.2.1 Germany
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2.2.2.2 United Kingdom
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2.2.2.3 Italy
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2.2.2.4 France
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2.2.2.5 Russia
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2.2.2.6 Spain
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2.2.2.7 Rest of Europe
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2.2.3 Asia-Pacific
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2.2.3.1 India
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2.2.3.2 China
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2.2.3.3 Japan
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2.2.3.4 Australia
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2.2.3.5 Rest of Asia-Pacific
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2.2.4 South America
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2.2.4.1 Brazil
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2.2.4.2 Argentina
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2.2.4.3 Rest of South America
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2.2.5 Middle-East and Africa
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2.2.5.1 South Africa
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2.2.5.2 Saudi Arabia
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2.2.5.3 Rest of Middle-East and Africa
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Global Mineral Fortification Market Size FAQs
What is the current Global Mineral Fortification Market size?
The Global Mineral Fortification Market is projected to register a CAGR of 4.17% during the forecast period (2024-2029)
Who are the key players in Global Mineral Fortification Market?
Koninklijke DSM N.V., Archer Daniels Midland , Pestell Nutrition Inc, BASF SE and Cargill, Incorporated are the major companies operating in the Global Mineral Fortification Market.
