Fortified Foods Market size was valued at USD 141.79 billion in 2023 and is anticipated to cross USD 313.75 billion by the end of 2036, expanding at more than 6.3% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of fortified foods is estimated at USD 148.94 billion.
The growth of the fortified foods market can be attributed to the growing health consciousness among people and increasing disposable income of consumers on a global level. Additionally, as fortified foods also provide medicinal benefits along with essential nutrients and high energy gain, the demand for these products is anticipated to witness a hike in the near future. Growing investment to develop new varieties of fortified foods is also projected to fuel market expansion. Rising emphasis of leading food and beverage manufacturers to produce enriched foods is a major factor assessed to offer lucrative growth opportunities to the market. It is calculated that by 2022, the functional foods market will generate a revenue of approximately USD 320 billion.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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CAGR |
6.3% |
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Base Year Market Size (2023) |
USD 141.79 billion |
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Forecast Year Market Size (2036) |
USD 313.75 billion |
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Regional Scope |
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The market is segmented by nutrient composition into vitamins, carbohydrates, proteins, minerals, probiotics and others, out of which, the vitamins segment is evaluated to hold the largest share in the fortified foods market by the end of 2036 on account of increasing prevalence of disorders resulting from vitamin deficiency. According to the World Health Organization, more than 2 billion people suffer from the deficiency of micronutrients globally. However, the segment for probiotics is expected to grow with the highest CAGR during the forecast period. This can be credited to the advantages of consuming probiotics regularly such as improved immune function, restoration of healthy bacteria in the body and management of excessive weight. Furthermore, on the basis of product, the basic foods segment is estimated to gain slightly more traction in the market in 2021 owing to the high production of dairy products fortified with Vitamins, especially Vitamin D.
Our in-depth analysis of the global fortified foods market includes the following segments
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By Nutrient Composition |
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By Product |
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By Distribution Channel
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APAC Market Statistics
Regionally, the fortified foods market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa. Asia Pacific industry is expected to account for largest revenue share by 2036, on the back of increasing demand for nutrition enriched foods and promotion of fortified products in the region. Along with these growing occurrence of vitamins and minerals deficiency among people is also predicted to gauge market growth in this region in the coming years.
Europe Market Analysis
On the other hand, Europe occupies the largest revenue share in the fortified foods market and is expected to offer abundant growth opportunities over the forecast period owing to the strong presence of food & beverage industries in the region and growing consumption among adult and older populations. Our analysis reveals that Europe is predicted to generate the largest food industry revenue in 2021, amounting to approximately USD 1.75 million.
Author Credits: Parul Atri
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