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Biofortification Market by Crop (Sweet Potato, Cassava, Rice, Corn, Wheat, Beans, and Pearl Millet), Target Nutrient (Zinc, Iron, and Vitamins), and Region (Latin America, Africa, and Asia Pacific) - Global Forecast to 2023

  • ID: 4703854
  • Report
  • Region: Global, Africa, Asia, Asia Pacific, Latin America
  • 102 Pages
  • Markets and Markets
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The Biofortification Market is Estimated at USD 78 Million in 2018, and Projected to Grow at a CAGR of 8.6%, to Reach USD 118 Million by 2023

FEATURED COMPANIES

  • Agro Biosciences Inc.
  • BASF
  • Bayer
  • Charles River
  • Dowdupont
  • Intertek
  • MORE

“The biofortification market is projected to grow at a CAGR of 8.6%”

The biofortification market is estimated at USD 78 million in 2018 and projected to grow at a CAGR of 8.6%, to reach USD 118 million by 2023. The growth of the biofortification market is driven by the rise in funds for agronomic practices and technological advancements. A key driver for the market’s growth is the increasing use of high nutritional content in foods due to increasing consumer awareness about healthy diets. Africa is projected to be the fastest-growing regional market. Asian countries, especially India, have emerged as leading destinations, thereby facilitating the market shift from developed economies to developing economies. One of the major restraints in the growth of the biofortification market is low awareness about the benefits of biofortified crops.

“The sweet potato segment is estimated to account for the largest share in 2018”

Based on crop, the sweet potato segment is estimated to account for the largest share of the biofortification market in 2018. The demand for biofortified crops such as sweet potato and cassava has increased with the rising technological advancements to increase the nutrient content, particularly in orange-fleshed sweet potato (OFSP). Africa is projected to be the fastest-growing market in the sweet potato segment due to the ease of biofortifying sweet potato with nutrients such as iron, zinc, and vitamins.

“Vitamins to be the fastest growing target nutrient of biofortification”

Based on the target nutrient, the vitamins segment is expected to be the fastest-growing during the forecast period. Growth in demand for functional and enriched processed food products, the prevalence of vitamin deficiencies, and feed fortification due to the rise in global meat and dairy product consumption are some of the driving factors for the biofortification market.

“High growth is expected in the African biofortification market”

Africa is projected to be the fastest-growing market for the period considered for this study due to the rising disposable income and increase in demand for nutritional food products, along with the growing technology base, leading to increased demand for biofortification in the region. Africa has rich biodiversity in terms of crops. The development and introduction of agro-innovation across Africa resulted in the adoption of various new technologies in the agriculture industry.

Break-up of Primaries:

  • By Company Type: Tier 1 - 55%, Tier 2 - 20%, and Tier 3 - 25%
  • By Designation: C Level - 65%, D Level - 13%, and Others* - 22%
  • By Region: Latin America - 14%, Asia Pacific - 57%, and Africa - 29%

*Others include sales managers, marketing managers, and product managers.

Leading players profiled in this report:

  • Syngenta
  • DowDuPont
  • Bayer
  • BASF
  • Monsanto
  • Charles River
  • LemnaTec
  • Intertek
  • Agro BioSciences Inc.

Research Coverage:

The report segments the biofortification market on the basis of target nutrient, crop, and region. In terms of insights, this report has focused on various levels of analyses-competitive landscape, end-use analysis, and company profiles, which together comprise and discuss views on the emerging & high-growth segments, high-growth regions, countries, government initiatives, drivers, restraints, opportunities, and challenges.

Reasons to buy this report:

  • To get a comprehensive overview of the biofortification market
  • To gain wide-ranging information about the top players in this industry, their product portfolios, and key strategies adopted by them
  • To gain insights about the major countries/regions in which the biofortification market is gaining popularity
Note: Product cover images may vary from those shown
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FEATURED COMPANIES

  • Agro Biosciences Inc.
  • BASF
  • Bayer
  • Charles River
  • Dowdupont
  • Intertek
  • MORE

1 Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.3 Study Scope
1.3.1 Markets Covered
1.3.2 Geographic Segmentation
1.4 Periodization Considered
1.5 Currency Considered
1.6 Stakeholders

2 Research Methodology
2.1 Research Data
2.1.1 Secondary Data
2.1.2 Primary Data
2.1.2.1 Breakdown of Primary Interviews
2.2 Market Size Estimation
2.3 Data Triangulation
2.4 Research Assumptions
2.5 Research Limitations

3 Executive Summary

4 Premium Insights
4.1 Attractive Opportunities in the Biofortification Market
4.2 Biofortification Market Size, By Region
4.3 Biofortification Market, By Crop
4.4 Biofortification Market, By Target Nutrient, 2018 vs 2023

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Demand for High Nutritional Content Foods
5.2.1.2 Rise in Funds for Agrigenomics
5.2.1.3 Technological Advancements Ensure Strong Market Growth
5.2.2 Restraints
5.2.2.1 Lower Awareness About the Benefits of Biofortified Crops
5.2.3 Opportunities
5.2.3.1 Unregulated Environment for Biofortification
5.2.3.2 Strong Market Potential in Developing Countries
5.2.4 Challenges
5.2.4.1 Restriction on the Production of Genetically Modified Crops
5.3 Supply Chain Analysis
5.4 Crop Development Framework
5.5 Patent Analysis

6 Biofortification Market: Regulatory Framework
6.1 Introduction
6.1.1 Harvestplus
6.1.2 International Bodies for Biofortification Standards and Regulations
6.1.3 Food and Agriculture Organization of the United Nations (FAO) and the World Health Organization (WHO)

7 Biofortification Market, By Target Nutrient
7.1 Introduction
7.2 Zinc
7.2.1 Zinc is the Most Widely Added Agricultural Micronutrient Globally, Owing to Its High Nutritional Properties
7.3 Iron
7.3.1 Iron Segment Held the Largest Market Share, Due to Their High Demand
7.4 Vitamins
7.4.1 Through the Process of Biofortification, the Density of Vitamins and Minerals is Increased in A Crop Through Plant Breeding
7.5 Others (?-Carotene, Amino Acids, and Proteins)

8 Biofortification Market, By Crop
8.1 Introduction
8.2 Sweet Potato
8.2.1 The Demand for Sweet Potato has Increased With the Rising Technological Advancements to Increase the Nutrient Content
8.3 Cassava
8.3.1 Cassava is One of the Starchy Staple Foods Consumed in Africa, Asia and Latin America
8.4 Rice
8.4.1 According to the FAO, in Many Asian Countries, Rice Provides Up to 80% of the Energy Intake of the Poor Population
8.5 Corn
8.5.1 According to the US Department of Agriculture, in 2015 About 92% of the Corn Produced in the US Was Genetically Modified
8.6 Wheat
8.6.1 for Improving the Yield and Quality of the Crops, Biofortification Technology Required
8.7 Beans
8.7.1 Beans is the Most Important Food in the Daily Food Hence the Biofortification is Required for Improving Its Nutritional Contain
8.8 Pearl Millet
8.8.1 Pearl Millet is A Part of the Daily Diet for More Than 50 Million People in the Semi-Arid Regions of India and Africa
8.9 Others (Tomato, Banana, Sorghum, and Barley)

9 Biofortification Market, By Region
9.1 Introduction
9.2 Latin America
9.2.1 Brazil
9.2.2 Guatemala
9.3 Africa
9.3.1 Nigeria
9.3.2 Dr Congo
9.3.3 Ghana
9.3.4 Malawi
9.3.5 Rest of Africa
9.4 Asia Pacific
9.4.1 Bangladesh
9.4.2 China
9.4.3 India
9.4.4 Rest of Asia Pacific

10 Competitive Landscape
10.1 Overview
10.2 Competitive Scenario
10.3 Market Ranking Analysis
10.4 Expansions
10.5 Mergers & Acquisitions
10.6 Collaborations & Investments
10.7 Agreements

11 Company Profiles
11.1 Syngenta
11.2 Bayer
11.3 BASF
11.4 Dowdupont
11.5 Monsanto
11.6 Charles River
11.7 Lemnatec
11.8 Intertek
11.9 Agro Biosciences Inc.

12 Appendix
12.1 Discussion Guide
12.2 Knowledge Store: Subscription Portal
12.3 Available Customizations
12.4 Related Reports
12.5 Author Details

List of Tables
Table 1 US Dollar Exchange Rate Considered for the Study, 2014-2017
Table 2 Most Preferred Crops for Select Target Nutrients
Table 3 Biofortification Market Size, By Target Nutrient, 2016-2023 (USD Million)
Table 4 Zinc Biofortification Market Size, By Region, 2016-2023 (USD Million)
Table 5 Iron Biofortification Market Size, By Region, 2016-2023 (USD Million)
Table 6 Vitamins Biofortification Market Size, By Region, 2016-2023 (USD Million)
Table 7 Other Target Nutrients: Biofortification Market Size, By Region, 2016-2023 (USD Million)
Table 8 Schedule of Product Release of Biofortified Crops, 2007-2013
Table 9 Biofortification Market Size, By Crop, 2016-2023 (USD Million)
Table 10 Sweet Potato: Biofortification Market Size, By Region, 2016-2023 (USD Million)
Table 11 Cassava: Biofortification Market Size, By Region, 2016-2023 (USD Million)
Table 12 Rice: Biofortification Market Size, By Region, 2016-2023 (USD Million)
Table 13 Corn: Biofortification Market Size, By Region, 2016-2023 (USD Million)
Table 14 Wheat: Biofortification Market Size, By Region, 2016-2023 (USD Million)
Table 15 Beans: Biofortification Market Size, By Region, 2016-2023 (USD Million)
Table 16 Pearl Millet: Biofortification Market Size, By Region, 2016-2023 (USD Million)
Table 17 Others: Biofortification Market Size, By Region, 2016-2023 (USD Million)
Table 18 Biofortification Market Size, By Region, 2016-2023 (USD Million)
Table 19 Latin America: Biofortification Market Size, By Country, 2016-2023 (USD Million)
Table 20 Latin America: Biofortification Market Size, By Target Nutrient, 2016-2023 (USD Million)
Table 21 Latin America: Biofortification Market Size, By Crop, 2016-2023 (USD Million)
Table 22 Africa: Biofortification Market Size, By Country, 2016-2023 (USD Million)
Table 23 Africa: Biofortification Market Size, By Target Nutrient, 2016-2023 (USD Million)
Table 24 Africa: Biofortification Market Size, By Crop, 2016-2023 (USD Million)
Table 25 Asia Pacific: Biofortification Market Size, By Country, 2016-2023 (USD Million)
Table 26 Asia Pacific: Biofortification Market Size, By Target Nutrient, 2016-2023 (USD Million)
Table 27 Asia Pacific: Biofortification Market Size, By Crop, 2016-2023 (USD Million)
Table 28 Expansions, 2013-2018
Table 29 Mergers & Acquisitions, 2014-2018
Table 30 Collaborations & Investments, 2013-2016
Table 31 Agreements, 2013

List of Figures
Figure 1 Biofortification Market Snapshot
Figure 2 Biofortification Market, By Region
Figure 3 Biofortification Market: Research Design
Figure 4 Breakdown of Primary Interviews: By Company Type, Designation, and Region
Figure 5 Market Size Estimation Methodology: Bottom-Up Approach
Figure 6 Market Size Estimation Methodology: Top-Down Approach
Figure 7 Data Triangulation Methodology
Figure 8 Iron Segment to Dominate the Biofortification Market, By Target Nutrient, 2018 vs 2023 (USD Million)
Figure 9 Sweet Potato Segment to Dominate the Biofortification Market, By Crop, 2018 vs 2023 (USD Million)
Figure 10 Asia Pacific to Be Dominant in the Biofortification Market, 2018-2023
Figure 11 Advancements in Biofortification Processes to Fuel the Market Demand
Figure 12 Biofortification Market Size, 2018 vs 2023 (USD Million)
Figure 13 Sweet Potato to Account for the Highest Market Size Throughout the Forecast Period
Figure 14 Vitamins to Grow at the Highest Rate Between 2018 and 2023
Figure 15 Biofortification Market: Drivers, Restraints, Opportunities, and Challenges
Figure 16 Biofortification Market Size, By Target Nutrient, 2018 vs 2023 (USD Million)
Figure 17 Sweet Potato is Expected to Dominate the Biofortification Market From 2018 to 2023 (USD Million)
Figure 18 Asia Pacific: Market Snapshot
Figure 19 Key Developments of the Leading Players in the Biofortification Market, 2013-November 2018
Figure 20 Annual Developments in the Biofortification Market, January 2013-November 2018
Figure 21 Market Ranking of Players in Biofortification Market
Figure 22 Syngenta: Company Snapshot
Figure 23 Syngenta: SWOT Analysis
Figure 24 Bayer: Company Snapshot
Figure 25 Bayer: SWOT Analysis
Figure 26 BASF: Company Snapshot
Figure 27 BASF: SWOT Analysis
Figure 28 Dowdupont: Company Snapshot
Figure 29 Dowdupont: SWOT Analysis
Figure 30 Monsanto: Company Snapshot
Figure 31 Charles River: Company Snapshot
Figure 32 Intertek: Company Snapshot

Note: Product cover images may vary from those shown
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  • Agro Biosciences Inc.
  • BASF
  • Bayer
  • Charles River
  • Dowdupont
  • Intertek
  • Lemnatec
  • Monsanto
  • Syngenta
Note: Product cover images may vary from those shown
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Note: Product cover images may vary from those shown
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