(EMAILWIRE.COM, September 05, 2024 ) Pune, 04 September 2024: The global Fortified Rice Market was valued at USD 20.21 Billion in 2023 and is likely to reach USD 33.28 Billion by 2032, increasing at a CAGR of 5.7% from 2024 to 2032.
Fortified rice is any grain that has extra essential vitamins and minerals added to enhance its nutritional value, especially in regions where rice is a primary component of the diet and there are deficiencies in micronutrients. Enriched rice is processed by adding essential nutrients like iron, zinc, vitamin A, and folic acid to the grains without altering the flavor or consistency. Using these components in rice is advantageous for providing necessary nutrients to communities who have difficulty meeting their daily nutritional needs. Fortifying rice, like fortifying wheat and maize flour or salt, offers similar benefits. Due to the potential health issues caused by malnutrition, it is crucial to include fortified rice in the battle against this condition. Fortified rice gives children the nutrition necessary for their growth. Fortified rice is a perfect diet for children and expectant mothers because it has low levels of saturated and total fats.
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Fortified Rice Market Dynamics
Consumers worldwide favour organic rice for various reasons, including increasing worries about health hazards linked to conventional rice containing pesticides and synthetic fertilizers. Organic fortified rice provides a safer option without harmful substances, catering to health-conscious individuals. Increased consumer awareness of environmental sustainability and organic farming practices has boosted the demand for organic products. An increasing number of governments and international organizations are implementing programs to promote the consumption of fortified rice, especially in regions with prevalent nutrient deficiencies. Increased demand is also influenced by emerging trends in health-conscious eating and consumers’ growing awareness of the benefits of fortified foods. The fortified rice market is being boosted by the entrance of private players and advancements in affordable fortification technologies. Moreover, it is expected that the market will grow as a result of strategic partnerships formed by governments and food producers to enhance distribution channels.
Fortified Rice Market Regional Insights
It is typical for Asian nations, with the exception of Japan (APEJ), to have centralized rice milling sectors that support rice fortification. These countries have robust safety nets in place to distribute fortified rice at a subsidized rate to those in extreme need of nutrition. Due to the existence of top rice-producing countries in the area, Asia Pacific dominated the market in 2023 with a share of 43%. Every year, over 170 million tons of rice are produced in India. Most of the rice is cultivated in Asian nations such as the Philippines, Indonesia, Bangladesh, Vietnam, Pakistan, and Thailand. Asian countries make up almost 85-90% of global rice consumption, with Indonesia, India, and China accounting for around 60%. The Asia Pacific region is anticipated to be the dominant sector during the forecast period. This increase is due to the prevalence of malnutrition in the Asia Pacific region.
Fortified Rice Market Segment Analysis
By Needle Type
Trephine Biopsy Needles
Klima Sternal Needle
Salah Needle Aspiration Needle
Jamshidi Needle
Others
Based on Micronutrients, Iron deficiency is a widespread health issue, especially affecting women and children in developing countries. Iron is essential for the production of haemoglobin and overall energy metabolism. Fortifying rice with easily absorbed iron compounds like ferrous sulfate or ferrous fumarate is a cost-effective way to help prevent and treat iron deficiency. The standard fortification levels per kg of rice have been set by FSSAI, making iron the most important micronutrient used for rice fortification.
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By Micronutrients
Iron
B complex vitamins
Vitamin B-12
Vitamin B-6
Vitamin A
Zinc
Folic acid
By End User
Dusting
Coating
Extrusion
By Sales Channel
Hypermarket /Supermarket
Convenience store
Online Retailers
Others
GLOBAL FORTIFIED RICE MARKET BY REGION
NORTH AMERICA
o USA
o Canada
o Mexico
EASTERN EUROPE
o Russia
o Bulgaria
o The Czech Republic
o Hungary
o Poland
o Romania
o Rest of Eastern Europe
WESTERN EUROPE
o Germany
o United Kingdom
o France
o The Netherlands
o Italy
o Spain
o Rest of Western Europe
ASIA PACIFIC
o China
o India
o Japan
o South Korea
o Malaysia
o Thailand
o Vietnam
o The Philippines
o Australia
o New-Zealand
o Rest Of APAC
MIDDLE EAST & AFRICA
o Turkey
o Bahrain
o Kuwait
o Saudi Arabia
o Qatar
o UAE
o Israel
o South Africa
SOUTH AMERICA
o Brazil
o Argentina
o Rest of South America
Fortified Rice’s Key Competitors include:
Mars Food (USA)
DSM Nutritional Products (Netherlands)
Bühler Group (Switzerland)
BASF SE (Germany)
Cargill, Incorporated (USA)
Riceland Foods, Inc. (USA)
ADM (Archer Daniels Midland Company) (USA)
General Mills, Inc. (USA)
Nestlé S.A. (Switzerland)
Kellogg Company (USA)
Unilever PLC (United Kingdom/Netherlands)
Symrise AG (Germany)
Ajinomoto Co., Inc. (Japan)
Tata Chemicals Limited (India)
Agri-Neo Inc. (Canada)
Pepsico, Inc. (USA)
Axiom Foods, Inc. (USA)
NutriAsia Group (Philippines)
Usher Agro Ltd. (India)
EFISC (European Feed and Food Ingredient Safety Certification) (Belgium)
Wilmar International Limited (Singapore)
Balchem Corporation (USA)
Kerry Group plc (Ireland)
The Wright Group (USA)
Batory Foods (USA), and Other key Players.
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Key questions answered in the Fortified Rice Market report are:
1. Which market segment dominated the global Fortified Rice market in 2023?
2. What are the current global trends in the Fortified Rice market?
3. What future industry applications and trends are emerging in the Fortified Rice market?
4. What growth strategies are companies adopting to expand their presence in the Fortified Rice market?
5. Who are the leading companies in the Fortified Rice market, and what are their product portfolios?
6. What are the primary challenges that the Fortified Rice market may face in the future?
7. Which region had the largest share of the Fortified Rice market in 2023?
8. How is the regulatory environment influencing the Fortified Rice market?
Key Offerings:
Market Size, Share, Size & Forecast by Different Segments | 2024−2032
Fortified Rice Market Dynamics Growth Drivers, Restraints, Opportunities, and Key Trends by Region
Market Trend Analysis
Pestle Analysis
Porters Five Forces Analysis
Industry Value Chain Analysis
Ecosystem
Regulatory Landscape
Price Trend Analysis
Patent Analysis
Technology Evolution
Investment Pockets
Fortified Rice Market Segmentation
Competitive Landscape Profiles of selected key players in a strategic perspective
Competitive landscape Competitive Benchmarking, Fortified Rice Market Share by Manufacturer (2023), Industry BCG Matrix, Heat Map Analysis, Mergers & Acquisitions
Analyst Viewpoint and Conclusion
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