- Fortified Rice Market Set to Deliver Major Revenue Shares during the Forecast Period 2027
- Favorable government policies regarding fortified rice are increasing demand.
- North America is anticipated to contribute to the largest market share during the forecast period.
The fortified rice market is anticipated to record a CAGR of 6.5% over the forecast period. It is expected to reach the total market size of $28 billion by 2027. The growing demand to enhance the nutritional content of food items, coupled with high consumption of rice across the globe is anticipated to boost growth of the overall rice fortification market.
Increasing health concerns among the growing populations across the globe are anticipated to increase the demand for fortified rice. Increasing diseases on the account of the improper supply of essential nutrients is driving the demand for fortified rice worldwide. Additionally, favorable government policies regarding fortified rice are also increasing demand for the fortified rice during the forecast period. Moreover, growing disposable income is expected to increase demand for enhanced nutritional additives .This in turn fuels market growth of the global fortified rice market.
The market is segmented on the basis of micronutrient, technology, end-user and sales channel. On the basis of micronutrient, it is sub-segmented into minerals, vitamins, other fortifying nutrients. Vitamins is expected to lead the sub-segment during the forecast period. The increasing initiative for governments to improve the nutritional content in food items leads to high application of vitamins. This in turn is anticipated to boost growth of the overall market.
On the basis of technology, it is sub-segmented into drying, extrusion, coating technology & encapsulation and others. On the basis of end-users, it is sub-segmented into commercial and residential. The residential sub-segment is anticipated to contribute the largest market share during the forecast period.The increasing consumption of fortified rice by growing populations across the globe is anticipated to boost the growth of the sub-segment during the forecast period.
On the basis of sales channel, it is sub-segmented into convenience stores, modern trade, drug stores, departmental stores and online stores. Modern trade is anticipated to be the largest sales channel during the forecast period.
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On the basis of regional analysis, global Fortified Rice Market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. North America is anticipated to contribute to the largest market share during the forecast period. The increasing development in the industrial infrastructure is anticipated to drive the growth of the overall market in the region. Asia-Pacific is expected to fastest developing region for the fortified rice market. The high population in the region leads to increased consumption of the food items. This in turn are expected to drive the growth of the overall fortified rice market.
This report also provides the existing competitive scenario of some of the key players in the global fortified rice market which includes company profiling of key companies such as Bunge Limited, Cargill Incorporated , BASF SE , Buhler AG , Willmar International Ltd , General Mills Inc , Kohinoor Specialty Foods India Private Ltd. , DSM , KRBL Limited , Aroma Fields , Tilda Rice (Hain Celestial) , LT Foods , REI Agro Ltd. and The Rice ‘n Spice Intl Ltd.