Published: Jul, 2018
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.
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.
Rising Demand for Nutrient Rich Fortified Rice Boosts Market’s Growth
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.
The information presented in this review is based on a Transparency Market Research report, titled, “Fortified Rice Market (Micronutrients - Vitamins, Minerals, and Other Fortifying Nutrients; Technology - Drying, Extrusion, Coating & Encapsulation, and Others; End-Users - Commercial, and Residential; Sales Channel - Modern Trade, Convenience Stores, Departmental Stores, Drug Stores, Online Stores, and Other Sales Channel) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 – 2026.”
- A rising demand for fortified rice as a key source of energy and nutrients too has made the market gain fast paced growth.
- With the number of player entering the market rising in recent times, the competitiveness is expected to intensify during the next few years.
Key segments of the global fortified rice market:
- Coating & Encapsulation
- Modern Trade
- Convenience Stores
- Departmental Stores
- Drug Stores
- Online Stores
- North America
- Asia Pacific excluding Japan
- Latin America
- The Middle East and Africa
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