Biofortification Market to Witness Robust Expansion throughout the Forecast 2019 – 2026
Biofortification is a promising, upcoming, sustainable and cost-effective technique for delivering the micronutrients to people who has limited access to various diets and micronutrient interventions. Unfortunately, main food crops are the poor source of micronutrients which are required for the normal human growth. Biofortification differs from the conventional fortification in which the biofortification aims in increasing the nutrient levels in the crops in the course of plant growth rather than the manual means which is done in the processing of crops.
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Global biofortification market is projected to register a healthy CAGR of 36.3% in the forecast period 2019 to 2026. The new market report contains data for historic years 2017, the base year of calculation is 2018 and the forecast period is 2019 to 2026.
The Food and Agriculture Organization of the United Nations has projected that about 792.5 million people are suffering from malnourishment globally, out of which about 780 million people are in developing countries. Moreover, around 2 billion people are suffering from a different type of hunger which is called as “hidden hunger,” that is caused due to inadequate intake of the essential micronutrients in daily diet despite of increased food-crop production. The biofortification acts as a one-time investment which offers a long-term, sustainable and cost-effective approach in fighting the hidden hunger as once these biofortified crops are developed then there won’t be any cost of buying the fortificants and then adding them to food supply in the processing.
Some of the major players operating in this market are:
- Arcadia Biosciences
- Monsanto Company
- PHII (Pioneer Hybrid International)
- BASF SE
- Intertek Group plc
- LemnaTec GmbH
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The global biofortification market is segmented into four notable segments which are crop, target nutrient, gene pool and techniques.
- On the basis of crop, the market is segmented into cereals, legumes, root vegetables, vegetables, fruits and others. The cereals segment is further sub-segmented into wheat, rice, maize, sorghum, barley, pearl millet and others. The legumes segment is further sub-segmented into common beans, soybean, lupine and others. The root vegetables segment is further sub-segmented into sweet potato, cassava, carrot and others. The vegetables segment is further sub-segmented into cauliflower, lettuce, potato, tomato and others. The fruits segment is further sub-segmented into apple, banana, mango and others.
- On the basis of targeted nutrients, the market is segmented iron, zinc, vitamins, amino acid and others.
- On the basis of gene pool, the market is segmented into primary, secondary and tertiary.
- On the basis of techniques, the market is segmented into conventional plant breeding, agronomy and genetic technology.
Major growing sectors under the market segmentation are as follows:
- In crop, cereals segment is dominating the North America biofortification market with largest market share as cereals are widely consumed and are the richest source of energy. They are the best solution for the long term essential nutrient contents in the staple food and therefore cereals are highly biofortified than other crops.
- In targeted nutrients, iron segment is dominating the North America biofortification market with largest market share as it is found to be the most common deficient micronutrient worldwide, which reflects major threat to public health. Therefore the staple food is highly biofortified with iron to overcome the deficiency.
- In gene pool, primary segment is dominating the North America biofortification market with largest market share as in the primary genepool the genes are very easy to for the normal crosses and this genepool has prime breeding importance. And therefore primary genepool is usually proceeds for the biofortification.
- In techniques, conventional plant breeding segment is dominating the North America biofortification market as it is the traditional technique for breeding and is the simplest form for crossing, not much skills and expertise is required. This technique does not go through any regulatory obstacles and it is widely accepted. It is the fastest route for the high yield nutritious crops.
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