Global Biofortification Market, By Crop Type (Sweet Potato, Cassava, Rice, Corn, Wheat, Beans, Pearl Millet, Others), Targeted Nutrients (Iron, Zinc, Vitamins, Amino Acid, Others), Gene Pool (Primary, Secondary, Tertiary), Technique (Conventional Plant Breeding, Agronomy, Genetic Technology), Country (U.S., Canada, Mexico, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
Market Analysis and Insights : Global Biofortification Market
Biofortification market is expected to grow at a compound annual rate of 36.8% in the forecast period 2021 to 2028. The rapidly increasing demand for high nutritional content foods is the factor for the biofortification market in the forecast period of 2021 to 2028.
Biofortification also known as biological fortification refers to nutritionally enriched food crops with better bioavailability to the human population which is developed and grown with the help of the modern biotechnology techniques, agronomic practices and conventional plant breeding. The biofortified food crops, mainly cereals, legumes, fruits and vegetables are offering adequate level of micronutrients to the targeted populations.
The major growing factor towards biofortification market is the heaving demand for nutritional food and increasing investments in agrigenomics. The prime factor driving the demand for biofortification is the rising demand for high nutritional content foods. Furthermore, the various private agriculture research institutes, government authorities and agri-based firms are investing in public health program to provide biofortified crops to the undernourished people is also heightening the overall demand for biofortification market over the forecast period of 2021 to 2028. Moreover, the strong advancements in the agricultural sector, rising implementation of biofortification in crops such as beans, wheat, sweet potato, rice, corn and pearl millet also serves as foremost drivers for increasing the demand for biofortification market at a global level. In addition, the improvement of the nutritional content of yields such as tomato, banana, sorghum, and barley is also lifting the growth of the biofortification market. Likewise, biofortification is less expensive, and the expenses of cultivating biofortified foods are small also it progress the micronutrient proportions in staple foods and reduces the micronutrient deficiencies in the population which is highly impacting the growth of the market.
However, the lack of awareness regarding the benefits of biofortified crops is projected to act as a restraint towards the growth of biofortification market, whereas the various limitation imposed on the production of genetically modified crops have the potential to challenge the growth of the biofortification market.
Moreover, the unfettered environment for biofortification as well as the strong market potential in emerging countries will further generate new opportunities for the biofortification market in the forecast period of 2021 to 2028.
This biofortification market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on biofortification market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Biofortification Market Scope and Market Size
Biofortification market is segmented on the basis of crop type, target nutrients, gene pool and technique. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of crop type, the biofortification market has been segmented into sweet potato, cassava, rice, corn, wheat, beans, pearl millet and others.
- Based on target nutrients, the biofortification market has been segmented into iron, zinc, vitamins, amino acid and others.
- Biofortification market has also been segmented into on the basis of gene pool into primary, secondary and tertiary.
- The technique segment of the biofortification market has been segmented into conventional plant breeding, agronomy and genetic technology.
Biofortification Market Country Level Analysis
Biofortification market is analyses and market size, volume information is provided by country, crop type, target nutrients, gene pool and technique as referenced above.
The countries covered in the biofortification market report are U.S., Canada, Mexico in North America, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific(APAC) in Asia-Pacific (APAC), Brazil, Argentina, Rest of South America as a part of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa(MEA) as a part of Middle East and Africa(MEA).
Asia-Pacific leads the biofortification market due to the growing consumer preference over high nutritional content in food is likely to fuel the demand for biofortified crop as well as the high growth opportunities in agriculture in this particular region. North America is expected to expand at a significant growth rate over the forecast period of 2021 to 2028 because of the growing adoption of new and improved technologies in farming activities in emerging countries such as U.S., Canada and Mexico within this region.
The country section of the biofortification market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Biofortification Market Share Analysis
Biofortification market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to biofortification market.
The major players covered in the biofortification market report are HarvestPlus, Syngenta, BASF SE, DuPont, Bayer AG, LemnaTec GmbH, Intertek Group plc, Nestle, Okanagan Specialty Fruits Inc, ArborGen Inc, Arcadia Biosciences, Corteva, MAURO Seed Co., Mahyco, AgBioForum, and Evogene Ltd among other domestic and global players. Market share data is available for Global, North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analyst understands competitive strengths and provides competitive analysis for each competitor separately.
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