Biofortification is the process of breeding crops to increase their nutritional value. Biofortification is done through conventional selective breeding, or through genetic engineering. Biofortification differs from ordinary fortification as it focuses on making plant foods more nutritious as the plants are growing, rather than having nutrients added to the foods when they are being processed. Biofortification, or the development of micronutrient-dense staple crops through traditional breeding technologies and modern biotechnology, can potentially increase the nutritional value of crops and benefit people across the globe who suffer from micronutrient deficiency.
MARKET DYNAMICS
The biofortification market has witnessed significant growth owing to factors such as an increase in capital funding for agronomic activities and technological advancements and growing use of biofortification in yields such as beans, wheat, corn, sweet potato, cassava, rice, and pearl millet. Biofortification is inexpensive, and the costs of the implementation of cultivating biofortified foods are negligible. These factors help boost the growth of the biofortification market. However, restriction on the production of genetically modified crops is projected to hamper the overall growth of the biofortification market.
MARKET SCOPE
The "Global Biofortification Market Analysis to 2028" is a specialized and in-depth study of the Food and Beverages industry with a special focus on the global market trend analysis. The report aims to provide an overview of the biofortification market with detailed market segmentation by target nutrient, crop and geography. The global biofortification market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading biofortification market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
The global biofortification market is segmented on the basis of target nutrient and crop. On the basis of target nutrient, the biofortification market is segmented into zinc, iron, vitamins, and others. Based on crop the global biofortification market is divided into sweet potato, cassava, rice, corn, wheat, beans, pearl millet, and others.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global biofortification market based on various segments. It also provides market size and forecast estimates from the year 2020 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The biofortification market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the biofortification market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the biofortification market in these regions.
MARKET PLAYERS
The reports cover key developments in the biofortification market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from biofortification market are anticipated to lucrative growth opportunities in the future with the rising demand for biofortification in the global market. Below mentioned is the list of few companies engaged in the biofortification market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the biofortification market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Agro Biosciences Inc.
- BASF SE
- Bayer AG
- Charles River
- HarvestPlus
- Intertek Group plc
- Lemnatec
- LemnaTec GmbH
- Monsanto Company
- Syngenta
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.