Rising Consumption of Different Types of Crops and Government Initiatives Towards Biofortification are Expected to drive the Global Biofortification Market in the forecast period of 2019 -2026

Global biofortification market is projected to register a healthy CAGR of 36.3% in the forecast period of 2019 to 2026. The new market report contains data for the historic year 2017, the base year of calculation is 2018 and the forecast period is 2019 to 2026.

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Drivers: Global Biofortification Market 

  • Rising consumption of different types of crops

  • Government initiatives towards biofortification

Restraint

Lower awareness about the benefits of biofortified crops

Opportunity

Strong market potential in developing countries

Challenge

Limitations in the biofortification

Market Trends

Global biofortification market is segmented into four notable segments which are crop, targeted nutrients, gene pool and techniques.

  • On the basis of crop, the market is segmented into cereals, legumes, root vegetables, vegetables, fruits and others. The cereals segment is expected to grow at the highest CAGR in the forecast period of 2019 to 2026.
  • On the basis of targeted nutrients, the market is segmented iron, zinc, vitamins, amino acid and others.
  • On the basis of gene pool, the market is segmented into primary, secondary and tertiary.
  • On the basis of techniques, the market is segmented into conventional plant breeding, agronomy and genetic technology.

Major Players: Global Biofortification Market 

Some of the major players operating in this market are Syngenta, HarvestPlus, Intrexon, Arcadia Biosciences, Monsanto Company, PHII (Pioneer Hybrid International), BASF SE, Intertek Group plc, LemnaTec GmbH, and others.