Asia Pacific Vitamin Fortified and Mineral Enriched Food and Beverage Market was worth USD 10.06 billion in 2022 and estimated to be growing at a CAGR of 8.45%, to reach USD 15.09 billion by 2028.
Inclination towards healthier lifestyle, rising health concerns and chronic diseases made people to intake the vitamin fortified and mineral enriched foods and beverages. Food enrichment is the process of adding minerals and vitamins to the food which was lost during storage or manufacturing. It is one of the important strategy identified by WHO, for increasing the minerals and vitamin intake at the global level.
This market is mostly the line extension of food and beverage domain. So, the acceleration of food and beverage market leads to rise in vitamin enrichment food and beverage market. Nutrition beyond the required levels also result in blood pressure, obesity and other diseases. Some countries like Denmark had banned the vitamin and mineral enrichment for certain products. These products are increasing their popularity in all age groups. Malted heath drinks are highly preferred by youth population.
Growing awareness related to nutrient deficiencies and changing lifestyle, Asia-Pacific health concerns, increasing population, people willing to spend most of the disposable income on healthy food, rising demand for packed and ready-to-eat meals, high investments in product innovation and development by medium and large market players and rising significance for preventive medicines are the factors driving the growth of the Asia-Pacific Vitamin Fortified and Mineral Enriched Foods and Beverages Market. However, nutrients fortifications have risks associated with an account of related side effects, ethical issues, lack of skilled people and in developing countries, people unwilling to pay more on vitamin and nutrients enriched food.
Asia Pacific Vitamin Fortified and Mineral Enriched Food and Beverage Market Segmentation Analysis:
The Asia Pacific vitamin fortified and mineral enriched food & beverage market is segmented based on the ingredients, application and geography. Ingredient segment is segmented into Vitamin and Minerals. Vitamins is categorised into Vitamin A, Vitamin C, Vitamin D and other vitamins. Minerals are categorised into Iron, Iodine, Docosahexaenoic acid, Folic acid, Selenium, Copper, Zinc and other minerals. On the basis of Application, the market is segmented into food, beverage and others. Food is sub segmented into cereals and cereal based products and confectionary products. Beverages is sub segmented into milk and dairy products, juices, fats and oils. There are other applications such as flour, tea, rice and infant formulas. Cereals and Juices have the largest market in the Asia-Pacific vitamin fortified and mineral enriched food & beverage market.
The Asia-Pacific region is geographically segmented into China, India, Japan, South Korea, and Australia. Asia-pacific is fastest growing due to the emerging economies and increasing number of vitamin deficiency diseases.
Key Players in the Market:
Major key players in the Asia Pacific Vitamin Fortified and Mineral Enriched Food and Beverage Market are
Ocean Spray Cranberries, Inc., Abbott Laboratories, The Coca-Cola Company, PepsiCo, General Mills, Inc., Campbell Soup, The Proctor & Gamble Company, H.J Heinz, Philip Morris Companies, Kellogg, Hain Food Group Inc., and Land O’Lakes.
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