Published: Feb, 2018
The global fortified rice market encapsulates market players who are focused towards forming coalitions with the public sector in order to reap maximum benefits. Fortified rice is gradually becoming an important component of gastronomy due to the health benefits served by it. The market players want to tap into the market and educate people about the pros of consuming fortified rice. The deficiency of key nutrients amongst a large chunk of the population is another key standpoint that the market players are anticipated to bank on. The key market participants marked by Transparency Market Research (TMR) include Wilmar International Ltd., BASF SE, Cargill Incorporated, General Mills, Inc., Bunge Limited, and Bühler AG. These market players are expected to capitalize on the growth spaces within the market in order to reap a larger market share. Claims to provide the most effective form of fortified rice are also expected to be a part of the business strategy of key market players.
Transparency Market Research (TMR) prognosticates a trajectory of growth over the period from 2017 to 2026. The market is likely to ripen during that timeframe due to the inclinations of the people towards fortified rice. The report presented by TMR is gives an analytic view on the soundness of the market and its successive growth in the coming years. The market value in terms of revenue is projected to cross US$ 25,000 Mn by the end of 2026. This shows that there are commendable opportunities resting within the global market.
Presence of Key Nutrients in Fortified Rice Propels Demand
The deficiency of micronutrients within the body places a toll on the overall health of individuals. Chronic malnutrition along with deficiencies of key vitamins and minerals within in children is a major concern for a number of regions. This makes it imperative to have a regular supply of fortified rice that enriches the body with key minerals and vitamins. Moreover, the fortification of rice is an easy and cost effective way of ensuring that the population gets essential micronutrients. A rough estimate reveals that nearly 2 million people across the globe are suffering from deficiencies of minerals and vitamins. Weak cognitive ability amongst children is a consequence of the insufficient intake of micronutrients. This has driven demand for fortified rice that can discharge key nutrients into the body. The immunity of individuals also suffers on account of nutrient deficiency and the low physical strength amongst children is also characteristic of the same deficiency. The alarming rates of morbidity and mortality especially newborns and mothers have also daunted the healthcare fraternity. The intake of fortified rice can substantially reduce the risk of fatality amongst these demographics of the population.
Ardent Efforts Made by Market Players Bolster Market Growth
The efforts made by the rice industry in order to make fortified rice available have been commendable. They have partnered with other entities for the distribution of fortified rice across several areas and regions. The mid-day meal scheme in India has enhanced the development prospects of the market. Moreover, the Indian government has coordinated with PATH and WFP to cover as many areas as possible for the distribution of fortified rice. Moreover, the U.S. Food Assistance Industries have expanded their portfolio to provide food rich in minerals and vitamins. The aforementioned factors have transcended as key drivers for the global market. Rice is consumed as a staple food across China and India, which further escalates th prospects of market growth.
The review is based a 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’
- Market for fortified rice is developing on account of the awareness regarding the health benefits of this rice type.
- The market players have introduced innovative business strategies to gain a higher market share.
The market is segmented along the following criteria:
- Other Fortifying Nutrients
- Coating & Encapsulation
By Sales Channel
- Modern Trade
- Convenience Stores
- Departmental Stores
- Drug Stores
- Online Stores
- Other Sales Channel
- North America
- Asia Pacific excluding Japan
- Latin America
- The Middle East and Africa
Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
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