The Europe food fortifying agents market is growing at a CAGR of 5.2% during the forecast period 2020 - 2025.
- The market is mainly driven by the multi-functionality of food fortifying agents, coupled with the growing demand from the food & beverage industry. Furthermore, the support of government organizations has also fueled market growth. For instance, the Food and Agricultural Organization (FAO) and the World Health Organization (WHO) has recognized food fortification as one of the key strategies to reduce the widespread malnutrition, particularly in underdeveloped countries.
- However, increasing raw material cost and competition among raw material suppliers along with regulations regulating the production of use of food fortifying agents are one of the factors that are restraining the growth of the market.
Key Market Trends
Acquisitive Demand of Prebiotics & Probiotics for Food Fortification
The prebiotics and probiotics market is driven by the robust demand for health-based products, among consumers, especially by the younger generations. Probiotics are incorporated to increase overall nutritive value as well as the flavor of processed foods such as dairy-based products, baked goods, and different food products. For instance, in collaboration with Chr. Hansen, a Danish bioscience company, Chaban developed a bio kefir and bio yogurt with lactobacteria, Lactobacillus rhamnosus, LGG to satiate the inflating demand for probiotic drinks in the country as the locals are fond of the conventional forms of these drinks.
Similarly, the use of probiotic strains in fermented meat products such as salami and ham increases the shelf life of meat products by providing a natural defense against airborne mold and bacteria thereby reducing the risk of cross-contamination. The probiotic strain of Lactobacillus is also used in fortifying infant milk formulations as it mimics the natural bacteria found in infant gut which may boost probiotics industry growth. Thus, the growing application of probiotics in food fortification has anticipated boosting the overall growth of the food fortification market.
United Kingdom to have the Fastest Growing Market
The market for food fortifying agents in the European region, particularly in the United Kingdom, is witnessed to have the fastest growth, followed by France, Germany, and Spain. The large demand for food fortifying agents in the country is due to the increase in consumption of nutritive convenience food and fortified food and the growth in health awareness among consumers among the country. Furthermore, rapid advancements in technology and companies’ efforts in trying to develop products with multifunctional applications are driving the fortified food ingredients segment of the market.
The Europe food fortifying agent market is competitive in nature having a large number of domestic and multinational players competing for market share. Emphasis is given on the merger, expansion, acquisition, and partnership of the companies along with new product development as strategic approaches adopted by the leading companies to boost their brand presence among consumers. Key players dominating the regional market include Cargill, Incorporated, Archer Daniels Midland Company, BASF SE, Kerry Group plc., Tate & Lyle PLC, Glanbia PLC, Ingredion Incorporated, and Chr. Hansen Holding AS, among others.
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