- Sweet potato
- Rice
- Cassava
- Wheat
- Corn
- Beans
- Pearl millet
- Others
Biofortification Market size was valued at USD 77.87 billion in 2022 and is poised to grow at a CAGR of 8.6% from 2023 to 2029. Owing to rising funds for the agrigenomics and demand for high nutritional content food are the major factors driving the growth of the market. Moreover, technological advancements in the biofortification market enhances the growth of the market. However, lack of awareness among the farmers hampers the growth of the market. This report studies global biofortification market dynamics elaborately to identify the current trends & drivers, future opportunities and possible challenges to the key stakeholders operating in the market. In addition, global biofortification market report includes human demographics; regulatory scenario, and competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed global market to better equip clients with possible investment opportunities across the regions (regional Investment Hot-Spots) and market unmet needs (Product Opportunities).
Global Biofortification Market Summary
Study Period
2023-29
Base Year
2022
CAGR
8.6%
Largest Market
Europe
Fastest Growing Market
Asia-Pacific
Biofortification Market Dynamics
Based on Crop, sweet potato segment is expected to grow at highest CAGR over the forecast years due to the demand for the biofortified crops such as sweet potato and cassava that has been increased with the rising technological advancements that increases the nutrient content in sweet potatoes, particularly in orange fleshed sweet potato (OFSP).
Asia-Pacific Got Significant Share
Biofortification Market Regional Analysis
Asia Pacific accounted for larger revenue share in global biofortification market with significant CAGR owing to the strong potential of biofortification in agriculture and it also improves the nutrition content in the food. India have emerged as the leading destinations for biofortification. Middle East and Africa is expected to be the fastest growing regional market over the forecast years due to increase in disposable income and increase in demand for nutritional food products.
Latin America
Europe
Asia Pacific
Middle East
North America
Key Features of the Reports
- Global biofortification market expanding at significant CAGR over 2023 to 2029 owing increase in demand for the biofortified nutrient products.
- Based on Crop type, sweet potato segment of biofortification accounted for larger market revenue share in 2018 and projected gain market revenue share over the forecast period
- Players focusing on launch of newer products and collaboration strategies to retain market position in global biofortification market
Global Biofortification Market Segmentation
By Crop
By Target Nutrient
- Zinc
- Iron
- Vitamins
- Others
Frequently Asked Questions
The key segments covered in the biofortification market are: by crop, target nutrient and geography
The biofortification market has been classified into North America, Asia Pacific, Europe, Latin America, Middle East and Africa, and the rest of MEA.
The biofortification market key players are: Bayer (Germany), Intertek (U.K.), Syngenta (Switzerland), DowDuPont (US), Mosanto (U.S.), BASF (US)
- Bayer (Germany)
- Intertek (U.K.)
- Syngenta (Switzerland)
- DowDuPont (US)
- Mosanto (U.S.)
- BASF (US)