Global Fortified Snacks Market, By Technology (Drying, Extrusion, Coating and Encapsulation, Others), Raw Material (Flours, Salt, Milk, Oil, Sugar), Micronutrients (Vitamins, Minerals, Others), Distribution Channel (Modern Trade, Online Sales, Neighborhood Stores, Other), Country (U.S., Canada, Mexico, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa) Industry Trends and Forecast to 2028.
Fortified Snacks Market Analysis and Insights : Global Fortified Snacks Market
Fortified snacks market size is valued at USD 96.48 billion by 2028 and is expected to grow at a compound annual rate of 7.60% in the forecast period 2021 to 2028. The increase in the consumption of nutritious products and protein-rich food is the factor for the fortified snacks market in the forecast period of 2021 to 2028.
Fortified snacks are those that have high nutrients added to them that do not naturally occur in the food. These snacks are meant to improve nutrition and add health benefits.
The major growing factor towards fortified snacks market is the increasing health concerns coupled with increasing disease occurrences. The prime factor driving the demand for fortified snacks is the rising consumer’s disposable income which motivates them to spend more on healthy food products. Furthermore, the growing demand for this category of foods is also heightening the overall demand for fortified snacks market over the forecast period of 2021 to 2028. Moreover, the rising purchase of nutrition products as well as increasing prevalence of nutritional deficiencies, mainly in the developing world also serves as foremost drivers for increasing the demand for fortified snacks market at a global level. In addition, the increasing consumption by adults and the old age population are also lifting the growth of the fortified snacks market.
However, the too much intake of fortified products can cause indigestion or genomic alteration and some side effects which are projected to act as a restraint towards the growth of fortified snacks market, whereas the lower-income and less awareness levels associated with low feasibility for profitable distribution to rural areas have the potential to challenge the growth of the fortified snacks market.
Moreover, the rapid shift in demand towards fortified foods as well as growing awareness regarding nutrient deficiencies including iodine, vitamin A & D, and myopia will further generate new opportunities for the fortified snacks market in the forecast period of 2021 to 2028.
This fortified snacks market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on fortified snacks market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Fortified Snacks Market Scope and Market Size
Fortified snacks market is segmented on the basis of technology, raw material, micronutrients and distribution channel. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of technology, the fortified snacks market has been segmented into drying, extrusion, coating and encapsulation and others. Drying is further segmented into oven drying, drum drying and spray drying.
- Based on raw material, the fortified snacks market has been segmented into flours, salt, milk, oil and sugar. Flours have further been segmented into rice, wheat and corn.
- On the basis of micronutrients, the fortified snacks market has been segmented into vitamins, minerals and others. Vitamins have further been segmented into vitamin A, vitamin B, vitamin C and vitamin D, others. Vitamin B is further sub-segmented into thiamine (Vit B1), riboflavin (Vit B2), niacin (Vit B3), vitamin B6, folic acid and vitamin B12. Minerals have further been segmented into calcium, iron, zinc, iodine and others.
- The distribution channel segment of the fortified snacks has been segmented into modern trade, online sales, neighborhood stores and other.
Fortified Snacks Market Country Level Analysis
Fortified snacks market is analyses and market size, volume information is provided by country, technology, raw material, micronutrients and distribution channel as referenced above.
The countries covered in the fortified snacks market report are U.S., Canada, Mexico in North America, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific(APAC) in Asia-Pacific (APAC), Brazil, Argentina, Rest of South America as a part of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
Asia-Pacific leads the fortified snacks market because of the increasing promotion of fortified snacks and rising health concerns related to age in the region. Europe is expected to expand at a significant growth rate over the forecast period of 2021 to 2028 due to the various programs involving to the fortification of foods for maintaining a proper diet and to counter-attack health problems counting malnutrition and micronutrient deficiencies within this region.
The country section of the fortified snacks market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Fortified Snacks Market Share Analysis
Fortified snacks market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to fortified snacks market.
The major players covered in the fortified snacks report are Unilever, Dairy Farmers of America, Inc., General Mills Inc., The Kraft Heinz Company, Kellogg's Company, DSM, Meiji Holdings Co., Ltd., Glanbia plc, Fortified Foods, Christy Friedgram Industry, Indopol Group of Companies and Nestlé, among other domestic and global players. Market share data is available for Global, North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analyst understands competitive strengths and provide competitive analysis for each competitor separately.
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Research Methodology
Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
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