Global Fortified Foods Market: Overview
The global fortified foods market is forecast to exhibit growth at a robust pace, gaining from the increasing awareness about maintaining a disease free and healthy lifestyle. As per Transparency Market Research (TMR) the global fortified foods market will continue registering positive trajectory between 2015 and 2023 bolstered by various factors. The report presents a detailed analysis of the growth drivers supporting the market’s expansion and lists the restraints that could inhibit its trajectory during the aforementioned forecast period.
The global fortified foods market is segmented based on various parameters and the report studies the growth its exhibits across these segments in detail. It also gauges the effect of Porter’s five forces on the overall market operations. The analysis is intended to help readers gauge the bargaining power of buyers and suppliers, the degree of competition prevailing in the market, and threat from substitutes and new entrants. Information thus sourced is compiled is presented in a chapter-wise format and interspersed with associated graphs, statistics, and infographs.
Global Fortified Foods Market: Trends and Opportunities
Earlier, vitamins and minerals were enriched and fortified to be consumed by the means of pills. However in the coming years, vitamin fortified food market is projected to witness strong growth. The rising health consciousness among people has encouraged them to focus more on health benefits of enriched food supplements and products promising wellness. Spurred by these factors, the global fortified foods market is expected to showcase strong growth during the forecast period.
Moreover, the market will significantly gain from the development of new varieties of fortified food products by the leading market players. The persistently rising demand from health conscious consumers is expected to keep the demand for fortified foods high through the forecast period. Product differentiation strategies adopted by leading players to gain competitive strength are also expected to aid the market’s expansion.
Global Fortified Foods Market: Regional Outlook
Regionally, North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa constitute the key segments in the global fortified foods market. Among these regions, the market has been witnessing highly lucrative opportunities in Asia Pacific. The encouragement received by the fortified foods market by policymakers in China, coupled with the growing health consciousness among consumers is aiding the market’s expansion in the region. Besides this, the rising incidence of myopia in adults is expected to drive the Asia Pacific fortified foods market. The companies can also find attractive opportunities in India.
In North America and Europe, the market players are gaining from high level of awareness and the increasing health awareness.
Global Fortified Foods Market: Vendor Landscape
The Proctor & Gamble Company, Abbott Laboratories, Land O’Lake, H.J Heinz Company, Kellogg Company, General Mills, Inc., Philip Morris Companies, and Hain Food Group Inc. are some of the leading players operating in the global fortified foods market. The report profiles of some of the leading market players, covering their financial overview, recent mergers and acquisitions, marketing strategies, and development over the last few years.
It also conducts SWOT analysis on the companies profiled to study their strengths and weaknesses. The analysis is also intended to help companies identify the threats and opportunities that they could face over the course of the report’s forecast period. As the companies are currently focusing on product diversification to gain dominance, product development has emerged as a chief factor driving the global fortified foods market.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.