Sustainable Growth Opportunities in the Food Fortifying Agents Market

Growth opportunities and latent adjacency in Food Fortifying Agents Market

(EMAILWIRE.COM, April 01, 2020 ) The food fortifying agents market is projected to reach USD 69.8 Billion by 2020 growing at a CAGR of 16.7% from 2015 to 2020.

The food fortifying agents market is highly fragmented and competitive, with key market players adopting strategies such as new product launches to meet consumer demand. Leading players actively invest in R&D activities and launch new products in different applications. The key driving factors of the food fortifying agents market include growing health awareness among consumers, rising aging population, and the rising demand for fortified food & beverage products.

The leading players in this market are Cargill, Incorporated (U.S.), Royal DSM (The Netherlands), CHR. Hansen Holdings A/S (Denmark), E. I. du Pont de Nemours and Company (U.S.), BASF SE (Germany), Arla Foods (Denmark), Tate & Lyle (U.K.), Ingredion (U.S.), The Archer Daniels Midland Company (U.S.), and Nestle SA (Switzerland).

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The core strengths of the key players in this market are their new product launches to strengthen their product line and to increase their competitive reach in the food fortifying agents market. Key companies such as Cargill, Incorporated (U.S.) and Royal DSM(The Netherlands) are focusing on introducing and offering a wide range of food fortifying products in the market and expanding their regional presence to maintain their position. For instance, in March 2015, Cargill Incorporated (U.S.) launched IngreVita EPA/DHA Omega-3 oil. With the launch of this product, the company strengthened its non-GMO ingredients product portfolio. Apart from the various new product launches, companies are also involved in expansions & investments, acquisitions, and agreements, joint ventures & partnerships. Companies are investing and expanding their businesses by venturing into new regions to increase their market share. For instance, in August 2014, Royal DSM (The Netherlands) invested USD 30 million to upgrade and expand its production facility in Nova Scotia, which was acquired through the acquisition of Ocean Nutrition (Canada).

Companies are expanding their geographically diverse businesses and large distribution networks through cross-selling marketing strategies such as expansions, agreements, and collaborations. Market leaders such as Cargill, Incorporated (U.S.) and Royal DSM N.V. (The Netherlands) have successfully tapped into potential markets such as Brazil and Mexico. Some companies such as Royal DSM(The Netherlands) have adopted strategies such as agreements to expand their business in emerging markets.

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In April 2015, Royal DSM (The Netherlands) launched a new product under the trade name life’s DHA powder for baked goods. DHA powder is specifically designed for use in bakery products such as breads, rolls, and muffins. In March 2015, Ingredion Incorporated acquired Penford Corporation (U.S.). This acquisition will help the company to strengthen its specialty ingredients product portfolio for food applications. In October 2015, E. I. du Pont de Nemours and Company (U.S.) established a new innovation center in Singapore to better serve the Asian market.