Biofortification Market – Global Industry Analysis and Forecast (2023-2029)

The Biofortification Market was valued at US$ 103.7 Mn in 2022 and is expected to reach US$ 190.2 Mn by 2029 at a CAGR of 9.05% during the forecast period. The report includes the analysis of the impact of COVID-19 lockdown on the revenue of market leaders, followers, and disruptors. Since the lockdown was implemented differently in various regions and countries; the impact of the same is also seen differently by regions and segments. The report has covered the current short-term and long-term impact on the market, and it would help the decision-makers to prepare the outline and strategies for companies by region.Biofortification MarketTo know about the Research Methodology :- Request Free Sample Report

Biofortification Market Dynamics

Biofortification is a new and advanced concept in which crops are breaded to enhance their nutritional value. It differs from conventional fortification as bio fortification concentrates on generating more nutritious plant foods over the process of adding nutrients in the foods after food processing. Demand for high nutritional content foods and increasing funds for agrigenomics technological advancement ensures strong market growth. The massive use of Biofortification in yields such as beans, cassava, wheat, corn, sweet potato, rice, and pearl millet is expected to impel the business growth in the forecasted year. In addition, enormous application of biofortification in banana, tomato, sorghum, and barley to enhance their nutritional value which will create beneficial growth avenues for the biofortification market in the upcoming years. Lower awareness about the benefits of biofortified crops is the major restraint of the market. Restriction on the production of genetically modified crops is a challenge for the biofortification market.

Biofortification Market Segment Analysis

The sweet potato segment, based on crop is projected to account for the largest share of the biofortification market in 2022 The demand for bio fortified crops such as sweet potato and cassava has increased with the mounting technological advancements to increase the nutrient content, particularly in orange-fleshed sweet potato (OFSP). Africa is estimated to be the fastest-growing market in the sweet potato segment owing to the ease of bio fortifying sweet potato with nutrients such as zinc, iron, and vitamins. The Vitamins segment is expected to be the fastest-growing over the forecast period. Growth in demand for functional and enriched processed food products, prevalence of vitamin deficiencies, and feed fortification due to the increasing global meat and dairy product consumption are driving factors for the biofortification market.

Regional Insights

Region-wise, Asia Pacific is the dominating region in the global Bio fortification market and is likely to remain its dominant in the near future. Furthermore, Bio fortification has massive growth potential in farming activities, and it also improves the nutrition value of food contents. The Biofortification market in Asia Pacific has expanded significantly over the past five years, and this trend is expected to continue in the upcoming decade. So, the escalating consumer demand for high nutritional food ingredients will boost the demand for biofortified crops in the region, thereby providing momentum to the growth of bio fortification market. In primary research, several sources from both the supply and demand sides of the market were interviewed to obtain qualitative and quantitative information. In the secondary research, various secondary sources for instance Hoovers, Bloomberg BusinessWeek, and Dun & Bradstreet were referred to, in order to identify and collect information for this study. Global biofortification market report includes PESTLE analysis, competitive landscape, and Porter’s five force model. Market attractive analysis wherein all the segments are benchmarked based on the market size, growth rate, and general attractiveness.

Biofortification Market, Key Highlights:

Global Biofortification Market analysis and forecast, in terms of value. Comprehensive study and analysis of market drivers, restraints and opportunities influencing the growth of the Global Bio fortification Market The Global Biofortification Market segmentation on the basis of type, source, end-user, and region (country-wise) has been provided. Global Biofortification Market strategic analysis with respect to individual growth trends, future prospects along with the contribution of various sub-market stakeholders have been considered under the scope of study. Global Biofortification Market analysis and forecast for five major regions namely North America, Europe, Asia Pacific, the Middle East & Africa (MEA) and Latin America along with country-wise segmentation. Profiles of key industry players, their strategic perspective, market positioning and analysis of core competencies are further profiled. Competitive developments, investments, strategic expansion and competitive landscape of the key players operating in the Global Bio fortification Market are also profiled.

Biofortification Market Scope: Inquire Before Buying

Global Biofortification Market
Report Coverage Details
Base Year: 2022 Forecast Period: 2023-2029
Historical Data: 2018 to 2022 Market Size in 2022: US $ 103.7 Mn.
Forecast Period 2023 to 2029 CAGR: 9.05% Market Size in 2029: US $ 190.2 Mn.
Segments Covered: by Crop Sweet Potato Cassava Rice Corn Wheat Beans Pearl Millet
by Target nutrient Zinc Iron Vitamins

 Biofortification Market, by Region

Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC) Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe) North America (United States, Canada and Mexico) Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A) South America (Brazil, Argentina Rest of South America)

Key Players are:

1. Syngenta 2. DowDuPont 3. Bayer 4. BASF 5. Monsanto 6. Charles River 7. LemnaTec 8. MAURO Seed Co 9. Mahyco 10. AgBioForum, 11. Evogene Ltd 12. HarvestPlus 13. LemnaTec 14. Intertek 15. Agro BioSciences Inc. Frequently Asked questions 1. What is the market size of the Global Biofortification Market in 2022? Ans. The market size Global market in 2022 was US$ 103.7 Million. 2. What are the different segments of the Global Biofortification Market? Ans. The Global market  is divided into Crop and Target nutrient. 3. What is the study period of this market? Ans. The Global market will be studied from 2022 to 2029. 4. Which region is expected to hold the highest Global Biofortification Market share? Ans. The Asia Pacific dominates the market share in the  market. 5. What  is the Forecast Period of Global Biofortification Market? Ans. The Forecast Period of the market is 2023-2029 in the market.

Global Biofortification Market

1. Preface 1.1. Research Objectives 1.2. Report Scope and Market Segmentation 1.3. Research Highlights 2. Assumptions and Research Methodology 2.1. Abbreviations 3. Executive Summary 3.1. Global Biofortification Market Size, by Value (US$ Mn) 4. Market Overview 4.1. Introduction 4.2. Market Dynamics 4.2.1. Drivers 4.2.2. Restraints 4.2.3. Opportunities 4.2.4. Challenges 4.2.5. Emerging Technology 4.3. Market Analysis 4.3.1. Value Chain Analysis 4.3.2. Pricing Analysis 4.3.3. Market risk analysis 4.3.4. Porter’s Analysis 5. Global Biofortification Market Analysis and Forecast 5.1. Global Biofortification Market Analysis and Forecast 5.2. Global Biofortification Market Size& Y-o-Y Growth Analysis 5.2.1. North America 5.2.2. Europe 5.2.3. Asia Pacific 5.2.4. Middle East & Africa 5.2.5. South America 6. Global Biofortification Market Analysis and Forecast, By Target Nutrient 6.1. Introduction and Definition 6.2. Global Biofortification Market Value Share Analysis, By Target Nutrient 6.3. Market Size (US$ Mn) Forecast, By Target Nutrient 6.4. Global Biofortification Market Analysis, By Target Nutrient 6.5. Biofortification Market Attractiveness Analysis, By Target Nutrient 7. Global Biofortification Market Analysis and Forecast, By Crop 7.1. Introduction and Definition 7.2. Global Biofortification Market Value Share Analysis, By Crop 7.3. Market Size (US$ Mn) Forecast, By Crop 7.4. Global Biofortification Market Analysis, By Crop 7.5. Global Biofortification Market Attractiveness Analysis, By Crop 8. Global Biofortification Market Analysis, by Region 8.1. Global Biofortification Market Value Share Analysis, by Region 8.2. Market Size (US$ Mn) Forecast, by Region 8.3. Global Biofortification Market Attractiveness Analysis, by Region 9. North America Biofortification Market Analysis 9.1. North America Biofortification Market Overview 9.2. North America Biofortification Market Value Share Analysis, By Target Nutrient 9.3. North America Biofortification Market Forecast, By Target Nutrient 9.3.1. Zinc 9.3.2. Iron 9.3.3. Vitamin 9.4. North America Biofortification Market Value Share Analysis, By Crop 9.5. North America Biofortification Market Forecast, By Crop 9.5.1. Sweet Potato 9.5.2. Cassava 9.5.3. Rice 9.5.4. Corn 9.5.5. Wheat 9.5.6. Beans 9.5.7. Pearl Millet 9.6. North America Biofortification Market Value Share Analysis, by Country 9.7. North America Biofortification Market Forecast, by Country 9.7.1. U.S. 9.7.2. Canada 9.8. North America Biofortification Market Analysis, by Country 9.9. U.S. Biofortification Market Forecast, By Target Nutrient 9.9.1. Zinc 9.9.2. Iron 9.9.3. Vitamin 9.10. U.S. Biofortification Market Forecast, By Crop 9.10.1. Sweet Potato 9.10.2. Cassava 9.10.3. Rice 9.10.4. Corn 9.10.5. Wheat 9.10.6. Beans 9.10.7. Pearl Millet 9.11. Canada Biofortification Market Forecast, By Target Nutrient 9.11.1. Zinc 9.11.2. Iron 9.11.3. Vitamin 9.12. Canada Biofortification Market Forecast, By Crop 9.12.1. Sweet Potato 9.12.2. Cassava 9.12.3. Rice 9.12.4. Corn 9.12.5. Wheat 9.12.6. Beans 9.12.7. Pearl Millet 9.13. North America Biofortification Market Attractiveness Analysis 9.13.1. By Target Nutrient 9.13.2. By Crop 9.14. PEST Analysis 9.15. Key Trends 9.16. Key Developments 10. Europe Biofortification Market Analysis 10.1. Europe Biofortification Market Overview 10.2. Europe Biofortification Market Value Share Analysis, By Target Nutrient 10.3. Europe Biofortification Market Forecast, By Target Nutrient 10.3.1. Zinc 10.3.2. Iron 10.3.3. Vitamin 10.4. Europe Biofortification Market Value Share Analysis, By Crop 10.5. Europe Biofortification Market Forecast, By Crop 10.5.1. Sweet Potato 10.5.2. Cassava 10.5.3. Rice 10.5.4. Corn 10.5.5. Wheat 10.5.6. Beans 10.5.7. Pearl Millet 10.6. Europe Biofortification Market Value Share Analysis, by Country 10.7. Europe Biofortification Market Forecast, by Country 10.7.1. Germany 10.7.2. U.K. 10.7.3. France 10.7.4. Italy 10.7.5. Spain 10.7.6. Rest of Europe 10.8. Europe Biofortification Market Analysis, by Country/ Sub-region 10.9. Germany Biofortification Market Forecast, By Target Nutrient 10.9.1. Zinc 10.9.2. Iron 10.9.3. Vitamin 10.10. Germany Biofortification Market Forecast, By Crop 10.10.1. Sweet Potato 10.10.2. Cassava 10.10.3. Rice 10.10.4. Corn 10.10.5. Wheat 10.10.6. Beans 10.10.7. Pearl Millet 10.11. U.K. Biofortification Market Forecast, By Target Nutrient 10.11.1. Zinc 10.11.2. Iron 10.11.3. Vitamin 10.12. U.K. Biofortification Market Forecast, By Crop 10.12.1. Sweet Potato 10.12.2. Cassava 10.12.3. Rice 10.12.4. Corn 10.12.5. Wheat 10.12.6. Beans 10.12.7. Pearl Millet 10.13. France Biofortification Market Forecast, By Target Nutrient 10.13.1. Zinc 10.13.2. Iron 10.13.3. Vitamin 10.14. France Biofortification Market Forecast, By Crop 10.14.1. Sweet Potato 10.14.2. Cassava 10.14.3. Rice 10.14.4. Corn 10.14.5. Wheat 10.14.6. Beans 10.14.7. Pearl Millet 10.15. Italy Biofortification Market Forecast, By Target Nutrient 10.15.1. Zinc 10.15.2. Iron 10.15.3. Vitamin 10.16. Italy Biofortification Market Forecast, By Crop 10.16.1. Sweet Potato 10.16.2. Cassava 10.16.3. Rice 10.16.4. Corn 10.16.5. Wheat 10.16.6. Beans 10.16.7. Pearl Millet 10.17. Spain Biofortification Market Forecast, By Target Nutrient 10.17.1. Zinc 10.17.2. Iron 10.17.3. Vitamin 10.18. Spain Biofortification Market Forecast, By Crop 10.18.1. Sweet Potato 10.18.2. Cassava 10.18.3. Rice 10.18.4. Corn 10.18.5. Wheat 10.18.6. Beans 10.18.7. Pearl Millet 10.19. Rest of Europe Biofortification Market Forecast, By Target Nutrient 10.19.1. Zinc 10.19.2. Iron 10.19.3. Vitamin 10.20. Rest of Europe Biofortification Market Forecast, By Crop 10.20.1. Sweet Potato 10.20.2. Cassava 10.20.3. Rice 10.20.4. Corn 10.20.5. Wheat 10.20.6. Beans 10.20.7. Pearl Millet 10.21. Europe Biofortification Market Attractiveness Analysis 10.21.1. By Target Nutrient 10.21.2. By Crop 10.22. PEST Analysis 10.23. Key Trends 10.24. Key Developments 11. Asia Pacific Biofortification Market Analysis 11.1. Asia Pacific Biofortification Market Overview 11.2. Asia Pacific Biofortification Market Value Share Analysis, By Target Nutrient 11.3. Asia Pacific Biofortification Market Forecast, By Target Nutrient 11.3.1. Zinc 11.3.2. Iron 11.3.3. Vitamin 11.4. Asia Pacific Biofortification Market Value Share Analysis, By Crop 11.5. Asia Pacific Biofortification Market Forecast, By Crop 11.5.1. Sweet Potato 11.5.2. Cassava 11.5.3. Rice 11.5.4. Corn 11.5.5. Wheat 11.5.6. Beans 11.5.7. Pearl Millet 11.6. Asia Pacific Biofortification Market Value Share Analysis, by Country 11.7. Asia Pacific Biofortification Market Forecast, by Country 11.7.1. China 11.7.2. India 11.7.3. Japan 11.7.4. ASEAN 11.7.5. Rest of Asia Pacific 11.8. Asia Pacific Biofortification Market Analysis, by Country/ Sub-region 11.9. China Biofortification Market Forecast, By Target Nutrient 11.9.1. Zinc 11.9.2. Iron 11.9.3. Vitamin 11.10. Tank Level China Biofortification Market Forecast, By Crop 11.10.1. Sweet Potato 11.10.2. Cassava 11.10.3. Rice 11.10.4. Corn 11.10.5. Wheat 11.10.6. Beans 11.10.7. Pearl Millet 11.11. India Biofortification Market Forecast, By Target Nutrient 11.11.1. Zinc 11.11.2. Iron 11.11.3. Vitamin 11.12. India Biofortification Market Forecast, By Crop 11.12.1. Sweet Potato 11.12.2. Cassava 11.12.3. Rice 11.12.4. Corn 11.12.5. Wheat 11.12.6. Beans 11.12.7. Pearl Millet 11.13. Japan Biofortification Market Forecast, By Target Nutrient 11.13.1. Zinc 11.13.2. Iron 11.13.3. Vitamin 11.14. Japan Biofortification Market Forecast, By Crop 11.14.1. Sweet Potato 11.14.2. Cassava 11.14.3. Rice 11.14.4. Corn 11.14.5. Wheat 11.14.6. Beans 11.14.7. Pearl Millet 11.15. ASEAN Biofortification Market Forecast, By Target Nutrient 11.15.1. Zinc 11.15.2. Iron 11.15.3. Vitamin 11.16. ASEAN Biofortification Market Forecast, By Crop 11.16.1. Sweet Potato 11.16.2. Cassava 11.16.3. Rice 11.16.4. Corn 11.16.5. Wheat 11.16.6. Beans 11.16.7. Pearl Millet 11.17. Rest of Asia Pacific Biofortification Market Forecast, By Target Nutrient 11.17.1. Zinc 11.17.2. Iron 11.17.3. Vitamin 11.18. Rest of Asia Pacific Biofortification Market Forecast, By Crop 11.18.1. Sweet Potato 11.18.2. Cassava 11.18.3. Rice 11.18.4. Corn 11.18.5. Wheat 11.18.6. Beans 11.18.7. Pearl Millet 11.19. Asia Pacific Biofortification Market Attractiveness Analysis 11.19.1. By Target Nutrient 11.19.2. By Crop 11.20. PEST Analysis 11.21. Key Trends 11.22. Key Developments 12. Middle East & Africa Biofortification Market Analysis 12.1. Middle East & Africa Biofortification Market Overview 12.2. Middle East & Africa Biofortification Market Value Share Analysis, By Target Nutrient 12.3. Middle East & Africa Biofortification Market Forecast, By Target Nutrient 12.3.1. Zinc 12.3.2. Iron 12.3.3. Vitamin 12.4. Middle East & Africa Biofortification Market Value Share Analysis, By Crop 12.5. Middle East & Africa Biofortification Market Forecast, By Crop 12.5.1. Sweet Potato 12.5.2. Cassava 12.5.3. Rice 12.5.4. Corn 12.5.5. Wheat 12.5.6. Beans 12.5.7. Pearl Millet 12.6. Middle East & Africa Biofortification Market Value Share Analysis, by Country 12.7. Middle East & Africa Biofortification Market Forecast, by Country 12.7.1. GCC 12.7.2. South Africa 12.7.3. Rest of Middle East & Africa 12.8. Middle East & Africa Biofortification Market Analysis, by Country/ Sub-region 12.9. GCC Biofortification Market Forecast, By Target Nutrient 12.9.1. Zinc 12.9.2. Iron 12.9.3. Vitamin 12.10. GCC Biofortification Market Forecast, By Crop 12.10.1. Sweet Potato 12.10.2. Cassava 12.10.3. Rice 12.10.4. Corn 12.10.5. Wheat 12.10.6. Beans 12.10.7. Pearl Millet 12.11. South Africa Biofortification Market Forecast, By Target Nutrient 12.11.1. Zinc 12.11.2. Iron 12.11.3. Vitamin 12.12. South Africa Biofortification Market Forecast, By Crop 12.12.1. Sweet Potato 12.12.2. Cassava 12.12.3. Rice 12.12.4. Corn 12.12.5. Wheat 12.12.6. Beans 12.12.7. Pearl Millet 12.13. Rest of Middle East & Africa Biofortification Market Forecast, By Target Nutrient 12.13.1. Zinc 12.13.2. Iron 12.13.3. Vitamin 12.14. Rest of Middle East & Africa Biofortification Market Forecast, By Crop 12.14.1. Sweet Potato 12.14.2. Cassava 12.14.3. Rice 12.14.4. Corn 12.14.5. Wheat 12.14.6. Beans 12.14.7. Pearl Millet 12.15. Middle East & Africa Biofortification Market Attractiveness Analysis 12.15.1. By Target Nutrient 12.15.2. By Crop 12.16. PEST Analysis 12.17. Key Trends 12.18. Key Developments 13. South America Biofortification Market Analysis 13.1. South America Biofortification Market Overview 13.2. South America Biofortification Market Value Share Analysis, By Target Nutrient 13.3. South America Biofortification Market Forecast, By Target Nutrient 13.3.1. Zinc 13.3.2. Iron 13.3.3. Vitamin 13.4. South America Biofortification Market Value Share Analysis, By Crop 13.5. South America Biofortification Market Forecast, By Crop 13.5.1. Sweet Potato 13.5.2. Cassava 13.5.3. Rice 13.5.4. Corn 13.5.5. Wheat 13.5.6. Beans 13.5.7. Pearl Millet 13.6. South America Biofortification Market Value Share Analysis, by Country 13.7. South America Biofortification Market Forecast, by Country 13.7.1. Brazil 13.7.2. Mexico 13.7.3. Rest of South America 13.8. South America Biofortification Market Analysis, by Country/ Sub-region 13.9. Brazil Biofortification Market Forecast, By Target Nutrient 13.9.1. Zinc 13.9.2. Iron 13.9.3. Vitamin 13.10. Brazil Biofortification Market Forecast, By Crop 13.10.1. Sweet Potato 13.10.2. Cassava 13.10.3. Rice 13.10.4. Corn 13.10.5. Wheat 13.10.6. Beans 13.10.7. Pearl Millet 13.11. Mexico Biofortification Market Forecast, By Target Nutrient 13.11.1. Zinc 13.11.2. Iron 13.11.3. Vitamin 13.12. Mexico Biofortification Market Forecast, By Crop 13.12.1. Sweet Potato 13.12.2. Cassava 13.12.3. Rice 13.12.4. Corn 13.12.5. Wheat 13.12.6. Beans 13.12.7. Pearl Millet 13.13. Rest of South America Biofortification Market Forecast, By Target Nutrient 13.13.1. Zinc 13.13.2. Iron 13.13.3. Vitamin 13.14. Rest of South America Biofortification Market Forecast, By Crop 13.14.1. Sweet Potato 13.14.2. Cassava 13.14.3. Rice 13.14.4. Corn 13.14.5. Wheat 13.14.6. Beans 13.14.7. Pearl Millet 13.15. South America Biofortification Market Attractiveness Analysis 13.15.1. By Target Nutrient 13.15.2. By Crop 13.16. PEST Analysis 13.17. Key Trends 13.18. Key Developments 14. Competitive Landscape 14.1. Market Share Analysis, by Key Players 14.2. Competition Matrix 14.2.1. Competitive Benchmarking of key players by price, presence, market share, Applications and R&D investment 14.2.2. Market Consolidation M&A by regions, investment, applications M&A Key Players, forward integration, backward integration 14.3. Company Profiles: Key Player 14.3.1. Syngenta Company Overview Financial Overview Business Strategy Recent Developments Manufacturing Footprint 14.3.2. DowDuPont 14.3.3. Bayer 14.3.4. BASF 14.3.5. Monsanto 14.3.6. Charles River 14.3.7. LemnaTec 14.3.8. Intertek 14.3.9. Agro BioSciences Inc. 14.3.10. Infineon Technologies AG 14.3.11. Samsung Electronics Co. Ltd. 15. Primary Key Insights