As per this study the Global Biofortification Market was valued USD XX MN (by revenue) in 2021 and is anticipated to reach USD XX MN by 2028 with a CAGR of XX%.
The biofortification or biological fortification is referred to as the process of enhancing the nitrification value of the crop yield by addition of vitamins, and essential minerals through various farming practices. In biofortification, the nutrients are added at the time of plant growth, unlike the conventional method during crop processing. It is a more feasible and cost-effective way of delivering the nutritious food especially to the malnutrition population in underdeveloped regions.
The market is witnessing growth on account of the growing population across the globe leading into the high need for nutritional food. The hike in the count of the population suffering from nutritional deficiencies is boosting the market growth. Rising in funding and agreements by governments of developing & underdeveloped regions to promote intake of bio-fortified crops is fueling the growth of this market. Despite of this, low awareness about the product is acting as a challenge for the market growth.
This detailed market study is centered on the data obtained from multiple sources and is analyzed using numerous tools including porter’s five forces analysis, market attractiveness analysis, and value chain analysis. These tools are employed to gain insights of the potential value of the market facilitating the business strategists with the latest growth opportunities. Additionally, these tools also provide a detailed analysis of each application/product segment in the global market of biofortification.
The broad biofortification market has been sub-grouped into target nutrient and crop. The report studies these subsets with respect to the geographical segmentation. The strategists can gain a detailed insight and devise appropriate strategies to target specific market. This detail will lead to a focused approach leading to identification of better opportunities.
By Target Nutrient
- Sweet Potato
- Pear Millet
Furthermore, the report comprises of the geographical segmentation, which mainly focuses on current and forecast demand for biofortification in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report further focuses on demand for individual application segments in all the regions.
Global Biofortification Market Share by Region (Representative Graph)
The report also covers detailed competitive landscape including company profiles of key players operating in the global market. The key players in the biofortification market include Agro Biosciences Inc., BASF, Bayer, Charles River, Dowdupont, Intertek, Lemnatec, Monsanto and Syngenta among others. An in-depth view of the competitive outlook includes future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other developments with information in terms of H.Q.
A combination of primary and secondary research has been used to determine the market estimates and forecasts. Sources used for secondary research include (but not limited to) Paid Data Sources, Company Websites, Technical Journals, Annual Reports, SEC Filings and various other industry publications. Specific details on methodology used for this report can be provided on demand.