Biofortification - Global Market Outlook (2017-2026)
According to Stratistics MRC, the Global Biofortification Market is accounted for $71.80 million in 2017 and is expected to reach $151.27 million by 2026 growing at a CAGR of 8.6% during the forecast period. Increasing funds for agrigenomics, demand for high nutritional content foods, technological advancements and high growth in emerging economies are expected to boost the market’s growth. However, factors such as less awareness and restriction on the production of genetically modified crops are restricting the market.
Biofortification, the process of breeding nutrients into food crops, provides a comparatively cost-effective, sustainable, and long-term means of delivering more micronutrients. This approach not only will lower the number of severely mal-nourished people who require treatment by com-plementary interventions but also will help them maintain improved nutritional status. Moreover, biofortification provides a feasible means of reaching malnourished rural populations who may have limited access to commercially marketed forti?ed foods and supplements.
By Crop, Sweet Potato segment held steady market growth due to significant source of energy in the human diet for centuries due to its high carbohydrate content. Based on geography, Asia Pacific acquired largest market share owing to the increasing consumer demand for high nutritional food ingredients which will propel the demand for this crops in the region.
Some of the key players in Biofortification market include Dowdupont, BASF, Bayer, Syngenta, Agro Biosciences Inc., Intertek, Lemnatec, Charles River and Monsanto.
• Pearl Millet
• Sweet Potato
• Other Crops
Target Nutrients Covered:
• Other Target Nutrients
- North America
- Rest of Europe
- Asia Pacific
- New Zealand
- South Korea
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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