Fortified Foods Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023
Albany, NY -- (SBWIRE) -- 12/15/2016 -- 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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