Global Biofortification Market:
The global biofortification market estimated to be valued US$ XX Mn in 2019 and projected to grow at significant CAGR over 2020-2026 owing to rising funds for the agrigenomics and demand for high nutritional content foods are the major factors driving the growth of the market. Moreover, technological advancements in the biofortification market enhances the growth of the market. However, lack of awareness among the farmers hampers the growth of the market.
Sweet Potato Segment is expected to grow at Highest CAGR over the Forecast Years
Based on Crop, sweet potato segment is expected to grow at highest CAGR over the forecast years due to the demand for the biofortified crops such as sweet potato and cassava that has been increased with the rising technological advancements that increases the nutrient content in sweet potatoes, particularly in orange fleshed sweet potato (OFSP).
Asia Pacific Accounts the Larger Market Revenue Share in Global Biofortification Market
Asia Pacific accounted for larger revenue share in global biofortification market with significant CAGR owing to the strong potential of biofortification in agriculture and it also improves the nutrition content in the food. India have emerged as the leading destinations for biofortification. Middle East and Africa is expected to be the fastest growing regional market over the forecast years due to increase in disposable income and increase in demand for nutritional food products.
Key player’s profiles in the global biofortification market include:
- Bayer (Germany)
- Intertek (U.K.)
- Syngenta (Switzerland)
- DowDuPont (US)
- Mosanto (U.S.)
- BASF (US)
Global biofortification market is surging owing to acquisitions and definitive agreements to strengthen their position expansion in the market. For instance, in November 2018, Intertek developed its local capabilities and services at its laboratory in Beira, Mozambique to expand its business in Mozambique as well as in the East African region. In September 2018, Bayer acquired Monsanto (US), for USD 128 per share to strengthen innovation capabilities and R&D technology platforms in the agricultural industry.
Key Findings of the Report:
- Global biofortification market expanding at significant CAGR over 2020 to 2026 owing increase in demand for the biofortified nutrient products.
- Based on Crop type, sweet potato segment of biofortification accounted for larger market revenue share in 2018 and projected gain market revenue share over the forecast period
- Players focusing on launch of newer products and collaboration strategies to retain market position in global biofortification market
Global Biofortification Market Report Description:
Global biofortification market report gives comprehensive outlook on biofortification across the globe with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. The report on global biofortification market gives historical, current, and future market sizes (US$ Mn) on the basis of product and services, application, sector, and region. This report studies global biofortification market dynamics elaborately to identify the current trends & drivers, future opportunities and possible challenges to the key stakeholders operating in the market. In addition, global biofortification market report includes human demographics; regulatory scenario, and competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed global biofortification market to better equip clients with possible investment opportunities across the regions (regional Investment Hot-Spots) and market unmet needs (Product Opportunities). Key stakeholders of the global biofortification market report include suppliers, manufacturers, marketers, policy makers, and service providers engaged in global biofortification products
- Sweet potato
- Pearl millet
By Target Nutrient
- Rest of Europe
- Australia & New Zealand
- ASEAN (Includes Indonesia, Thailand, Vietnam, Philippines, Malaysia, and Others)
- South Korea
- Rest of Asia-Pacific
- Rest of Latin America
Middle East and Africa (MEA)
- Gulf Cooperation Council (GCC) Countries
- South Africa
- Rest of MEA
Key Features of the Report:
- The report provides granular level information about the market size, regional market share, historic market (2015-2019) and forecast (2020-2026)
- The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
- The report tracks recent innovations, key developments and startup’s details that are actively working in the market
- The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
- The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market