Bio fortification Market Size and Growth Rate:
According to our research report, the Biofortification Market size is poised to reach USD 110 Million by the end of 2023 from USD 71 Million in 2018 and this market witnessed a growth rate of 8.2% during the forecast period 2018-2023.
Biofortification Market Overview:
Biofortification is a new concept in which crops are selected to improve their nutritional value. It differs from conventional fortification because bio fortification focuses on the production of more nutritious plant foods than the process of adding nutrients to food after food processing. In fact, it is a strategy that addresses micronutrient deficits in emerging economies.
Biofortification Market – Key Growth Driving Forces:
It is expected that the increase in financing of agricultural activities and technological advances will stimulate the growth of the bio fortification market in the coming years. It is likely that the great use of bio-strengthening in yields such as beans, wheat, corn, sweet potatoes, cassava, rice and pearls will boost business growth over the next few years. Micronutrient deficiencies more often affect the population of developing countries and most people in this economic country are affected by the deficiency of iron, zinc and vitamin A. The demand for fortification and bio refinance increases as the demand for high nutritional foods. It is one of the main factors in the global market due to increased demand for food with high nutritional value, an increase in health problems, and malnutrition.
As the consumer's health consciousness increases, the global market is expected to continue nourished. It helps to improve the rate of micronutrients of basic foods and reduces the population and most of the children's micronutrient deficiencies. This again created an enormous demand for business in emerging countries. As the demand for nutritious foods for intellectual food increases, as well as the physical growth of children, the market will grow in the coming years.
Factors Limiting the Growth of BioFortification Market:
Biofortification is costly to implement and it is expensive to grow, which will hinder the growth of sales of the market in the future. In addition, the tremendous application of bio-treatment in tomatoes, bananas, sorghum and barley to increase nutritional value opens a profitable path to the market in the coming years. Besides the growing investment in agricultural development, the development of technology has positively affected the world market.
Biofortification Market - Regional Analysis:
By regions, the world bio fortification market can be divided into five key regions: North America, Europe, Asia-Pacific, Latin America and the Middle East and Africa. Asia Pacific is a dominant region in the world market and will continue to dominate in the near future. It also has great growth potential in agricultural activities and also improves the nutritional value of food ingredients. APAC's market has expanded significantly in the last five years, and this tendency is expected to continue. Thus, an increase in the demand of consumers for high nutrition nutritional ingredients will stimulate demand for bio-concentrated crops in the region, thus providing a boost for the growth of the market.
The North American and European markets have enormous growth potential. The introduction of new technologies in agricultural activities in countries such as the United States, Canada, Mexico, Great Britain, Germany and France has contributed greatly to the growth of local markets. The markets in the Middle East, Africa and Latin America are expected to grow enormously in the coming years.
Prominent Companies in the Biofortification Market analyzed in the report are:
- Charles River
- Agro Biosciences Inc
This research report includes following segmentation for the Biofortification Market size and forecast until 2025:
Biofortification Market – By Crop:
- Sweet potato
- Pearl millet
- Others (tomato, banana, sorghum, and barley)
Biofortification Market – By Target Nutrient:
- Others (¦Â-carotene, amino acids, and proteins)
Biofortification Market – By Geography:
- United Kingdom
- South Korea
Middle-East & Africa
Key Takeaways from Biofortification Market Report:
- For different Devices types, and applications offers calculated growth rates (CAGR %), Volume (Units), and Value ($M) in each region to estimate the Biofortification Market potential.
- Identify various driving factors, constraints and untold opportunities that can impact the Biofortification Market place.
- Know the position of your competitor based on the market shares, financial performance, strategical approaches, SWOT, product benchmarking and so on.
- Increase overall revenue by understanding the geographical impact on sales and distribution channels.
- Evaluate the increase in values at each step of the industry supply chain to improve process efficacy and optimize the value.
- Understand the market dynamics of leading players like deals, partnerships, new products, mergers and acquisitions in the last four years.
- Estimate the gaps in supply-demand, statics involved in import-export, and regulatory framework of the worldwide Biofortification Market in over 20 top nations.