The “Global Biofortification – Market and Technology Forecast to 2028” report has been added to ResearchAndMarkets.com’s offering.
The global market for biofortification is projected to hold a value of USD 97 billion in the year 2028 from a value of 71 Billion in the year 2020.
Biofortification is the process through which the nutritive value of the food consumed can be increased through plant breeding. During the process of ordinary fortification, the nutritive value of the food is increased during production, while in the case of biological fortification-the nutrition value is increased in the growth stage of the crop itself. This technology helps with eliminating problems like malnutrition and anemia in underdeveloped nations where the nutritional value of food is very low.
According to WHO, this technology can help with curing nearly 2 billion people suffering from iron deficiency-induced anemia. Moreover, deficiency of micro-nutrients such as vitamin A, iron, and zinc affect over one-half of the world’s population. Therefore, as compared to ordinary fortification, bio-fortification can reach the rural masses who are below the poverty line. Moreover, studies prove that this technology is feasible for even the poor strata of the society without compromising on agronomic productivity.
The increasing demand for high nutritive value food products coupled with a rise in health issues due to deficiency of essential nutrients has been one of the key drivers for this market. Malnutrition in developing countries acts as a driver for this market since biofortification can be a solution for the same. Emerging technologies and increasing investment in agriculture have a positive impact on the global growth of this market.
Moreover, rising consciousness amongst people concerning health and fitness further propels the market growth. One challenge encountered by the producers of this segment is to get consumers to accept biofortified crops and increase their intake of target nutrients.
The CAGR of this market is expected to be 3% during the forecast period. This market is segmented as crop type, and region. Globally, APAC is the largest shareholder of this segment, it is accounted for one-third of the global market revenue. On the basis of crop type, the biofortified sweet potato and cassava segment dominates this market owing to its increased nutritional value and consumption in Africa. By target nutrients, vitamins contribute up to 50% of the global revenue generated which hereby quantifies this segment as the leading one.
Key Topics Covered:
2 Executive Summary
2.1 Global Biofortification Market Trends and Insights
2.2 Major Findings
2.3 Major Conclusions
2.4 Important Tables and Graphs
3 Current Market Overview of the Global Biofortification Market
4 Current Technology Trends in the Global Biofortification
5 Market Segmentation
5.1 By Region
5.2 By Crop Type
6 Market Analysis
6.2 Porter’s 5 Forces Analysis
6.4 Market Dynamics
6.5 Country Analysis
7 Forecast Global Biofortification Market by Region to 2028
7.2 Global Biofortification Market by Region overview
7.3 Global Biofortification Market By Region (By Crop Type)
7.3.1 Sweet Potato
7.3.7 Pearl Millet
8 Forecast Global Biofortification by Crop Type to 2028
8.2 Global Biofortification Market by Crop Type overview
8.3 Global Biofortification Market By Crop Type (By Nutrients)
9 Opportunity Analysis Global Biofortification Market
10 Events based forecast for the Global Biofortification Market to 2028
10.2 Events forecast factors
10.3 Global Market
10.4 Events Based Forecast
11 Corona Impact
12 Conclusions and recommendations
13 Opportunity Analysis
14 Company Profiles
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