Global Biofortification Market By Crop (Cereals, Legumes, Root Vegetables, Vegetables, Fruits, Others), Targeted Nutrients (Iron, Zinc, Vitamins, Amino Acid, Others), Gene Pool (Primary, Secondary, Tertiary), Techniques (Conventional Plant Breeding, Agronomy, Genetic Technology), Geography (Europe, North America, Asia-Pacific, South America, Middle East and Africa) – Industry Trends and Forecast to 2026“Biological fortification” or “biofortification” refers to nutritionally enriched food crops with improved bioavailability to the human population which is developed and grown using the modern biotechnology techniques, agronomic practices and conventional plant breeding. The biofortified food crops, mainly cereals, legumes, fruits and vegetables are offering sufficient level of micronutrients to the targeted populations.
The examples of biofortification would include:
- Iron-biofortification of beans, sweet potato, rice, cassava and legumes
- Zinc-biofortification of beans, sweet potato, wheat, rice and maize
- Amino acid and protein biofortification of cassava and sorghum
- Provitamin A carotenoid biofortification of maize, cassava and sweet potato
Global biofortification market is projected to register a healthy CAGR of 36.3% in the forecast period of 2019 to 2026.
Segmentation: Global Biofortification Market
Global biofortification market is segmented into four notable segments which are crop, target nutrient, gene pool and techniques.
- On the basis of crop, the market is segmented into cereals, legumes, root vegetables, vegetables, fruits and others.
- In November 2017, HarvestPlus received USD 5.2 million grants from the United Kingdom’s Department for International Development (DFID) for increasing the private sector involvement in delivering the biofortified crops in South Asia and Africa. This would help in strengthening its position and expanding its business in Africa and South Asia.
- On the basis of targeted nutrients, the market is segmented iron, zinc, vitamins, amino acid and others.
- In March 2018, Pairwise Plants and Monsanto Company announced collaboration for developing the agricultural research and development by means of leveraging the gene-editing technology. This would help the farmers to produce better harvests and in the product development of the company.
- On the basis of gene pool, the market is segmented into primary, secondary and tertiary.
- In October 2017, the U.S. Agency for International Development (USAID) and Syngenta signed an updated MOU (Memorandum of Understanding) for supporting the agricultural and the food security activities in Asia, Latin America and Africa. This strategy would aim in promoting the food security among the smallholder farmers by co-operating on enhancing the technology adoption, research and development and farmer know-how for boosting the farm productivity.
- On the basis of techniques, the market is segmented into conventional plant breeding, agronomy and genetic technology.
- In March 2019, Intrexon Corporation announced the collaboration with Surterra Wellness to develop the Botticelli’s platform for improving the efficiency in the cannabis plantlet production thereby enhancing the quality of life and the health of plantlet. This would help in the product development of the company.
Competitive Analysis: 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.
- In March 2018, HarvestPlus was named as a partner in the Government of Colombia’s Comprehensive National Program for replacing the illicit crops. HarvestPlus will be working with the Colombian Agricultural Research Corporation (CORPOICA) for ensuring that the high quality seeds are available to farmers who are seeking to replace the current crops and offers technical assistance all over the transition.
- In February 2018, Monsanto Company opened an innovation Center at the University Of Illinois Research Park. The center would use digital tools and data for driving agricultural innovations that increases the efficiency and also reduces the amount of land, energy and water which are necessary for meeting the world's food and fiber needs. This would help in the expansion of the company and also will help in the technological developments in the products.
- In December 2017, HarvestPlus was awarded with USD 15 million from MacArthur Foundation. This would help in enhancing the customer base of the company.
Research Methodology: Global Biofortification Market
Key Opinion Leaders (KOL’s): Manufacturers, Researchers, Suppliers, Distributors, Biotechnologists and Industrialists.
Industry Participants: CEO’s, V.P.’s, Marketing/Product Managers, Market Intelligence Managers and National Sales Managers.