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Biofortification Market by Crop Type (Cereals, Legumes, Roots & Tubers, Fruits & Vegetables, Others (oilseeds, nuts, species)), by Nutrient (Zinc, Iron, Vitamins (A, E, etc.), Others (protein, amino acids)), by Technology (Conventional plant breeding, Genetic modification, Agronomic biofortification), by End use (Food industry, Feed industry, Healthcare & nutraceuticals, Others (biofuel, cosmetics, textile)), by North America (U.S., Canada), by Europe (Germany, UK, France, Italy, Spain, Rest of Europe), by Asia Pacific (China, India, Japan, South Korea, Australia, Rest of Asia Pacific), by Latin America (Brazil, Mexico, Argentina, Rest of Latin America), by MEA (Saudi Arabia, UAE, South Africa, Rest of MEA) Forecast 2025-2033
The size of the Biofortification Market was valued at USD 143.2 Million in 2023 and is projected to reach USD 240.69 Million by 2032, with an expected CAGR of 7.7% during the forecast period. The Biofortification industry concentrates on enhancing the nutritional value of crops, specifically important vitamins and minerals, by utilizing breeding or genetic modification techniques. Biofortification focuses on improving nutrient deficiencies in crops like rice, wheat, maize, and legumes found in many developing areas. Biofortification aims to improve public health by addressing malnutrition and its related diseases through enhancing the micronutrient content of staple foods. The global increase in nutritional deficiencies, specifically of iron, zinc, and vitamin A, is fueling the market, along with the growing need for sustainable approaches to address hunger and malnutrition. Biofortified crops provide a cost-efficient method to improve food security without the need for substantial alterations to farming methods. Increasing knowledge about the significance of nutrition in ensuring food security, along with advancements in genetic engineering, traditional breeding, and biotechnology, also contribute to the market's strength. With more funds being poured into research and development, the biofortification market is projected to grow, playing a key part in worldwide initiatives to decrease malnutrition and enhance health results, particularly in impoverished areas.
The market is fragmented with the presence of numerous regional and global players. Innovation is a key characteristic, with companies investing heavily in research and development to create new biofortified crop varieties. Regulatory frameworks and product substitutes influence market dynamics. M&A activity is prevalent as companies seek to expand their market presence and strengthen their portfolios.
Market insights reveal the growing demand for biofortified crops due to concerns over hidden hunger and malnutrition. The development of drought-tolerant and climate-resilient biofortified crops is gaining traction. Precision farming and digital technologies are optimizing crop production and nutrient management. Partnerships between private companies and non-profit organizations are facilitating the deployment of biofortification solutions in developing countries.
Asia Pacific is the dominant region in the Biofortification Market due to its large population and high prevalence of nutrient deficiencies. India, China, and Indonesia are major contributors to regional growth. The Cereals segment holds the largest market share, followed by Legumes and Roots & Tubers. Zinc and Iron are the leading nutrients in demand, while Conventional Plant Breeding remains the primary technology.
The report provides comprehensive coverage of the market, including detailed analysis of products, applications, technologies, and end-use sectors. Market size, share, and growth projections are presented for each segment. Key industry dynamics, trends, and drivers are explored. The report also includes company profiles of leading players.
The Biofortification Market is projected to reach $231.8 Million by 2027, driven by global malnutrition concerns and policy support. The market is highly competitive, with companies focusing on product differentiation and innovation. Partnerships and collaborations are shaping the industry landscape.
The market is segmented into North America, Europe, Asia Pacific, Latin America, and MEA.
Aspects | Details |
---|---|
Study Period | 2019-2033 |
Base Year | 2024 |
Estimated Year | 2025 |
Forecast Period | 2025-2033 |
Historical Period | 2019-2024 |
Growth Rate | CAGR of 7.7% from 2019-2033 |
Segmentation |
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Note* : In applicable scenarios
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