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Many consumers are demanding organic and natural food, this trend is expected to increase the demand for fortified rice.
HYDERABAD, TELANGANA, INDIA, January 25, 2023 /einpresswire.com / -- IndustryARC, in its latest report, predicts that the fortified rice market size is estimated to reach $28.4 billion by 2027, growing at a CAGR of 6.3% during the forecast period 2022-2027. Rice fortification can be delineated as a cost-effective complementary strategy of enhancing the nutritional content of rice through the addition of essential micronutrients such as ascorbate calcium, vitamin B12, iron, and folic acid aimed at solving malnutritional problems in a particular population. Rice is categorized into different varieties and is known for its nutrient-rich nature. For instance, black rice is home to proteins, fibers, carbs, antioxidants, and anthocyanins; however, too often they lose their nutrient content because of infertile soil, and inherent efficiencies. Therefore, food fortification has become one of the prominent ways for international agencies like the Food and Agriculture Organization (FAO) and World Health Organization (WHO) to combat the problem of nutrient deficiency across the globe.
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Key takeaways:
This IndustryARC report on the Fortified Rice Market highlights the following areas -
1. Geographically, the Asia-Pacific Fortified Rice Market accounted for the highest revenue share in 2021. The growth is owing to humungous production and consumption of rice in the two most populous countries in the world; India and China, high malnutrition rates in South East Asian nations, rising government initiatives to tackle“Hidden Hunger”, refining retail network, and rising living standards.
2. Expanding initiatives by international agencies and governments to eradicate the problem of nutrient deficiency from the world, broadening health consciousness among people because of swift urbanization and expanding living standards, overwhelming consumption of rice regardless of geographies are said to be preeminent drivers driving the growth of Fortified Rice Market. Environmental complications, soaring inflation, and escalation in unemployment rates in the post-pandemic world are said to reduce market growth.
3. Detailed analysis on the Strength, Weaknesses, and Opportunities of the prominent players operating in the market will be provided in the Fortified Rice Market report.
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Segmental Analysis:
1. The Fortified Rice Market based on nature can be further segmented into. The conventional segment held the largest share in 2021. The growth is owing to the easy availability of conventionally produced cereal grains.
2. The Fortified Rice Market is based on distribution channels further segmented into offline (supermarkets, convenience stores, brick-and-mortar) and online. The offline segment held the largest share in 2021.
3. The Fortified Rice Market based on Geography can be further segmented into North America, Europe, Asia-Pacific, South America, and the Rest of the World. Asia-Pacific held the largest share with 44% of the overall market in 2021.
Competitive Landscape:
The top 5 players in the Fortified Rice industry are -
1. Cargill Incorporated
2. BASF SE
3. General Mills Inc
4. Willmar International Ltd
5. Aroma Fields
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Related Reports:
A. Rice Market
B. Organic Rice Protein Market
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