Biofortication 2019 Global Market to Reach US$ 160.05Mn and Growing at CAGR of 9.05% by 2026
WiseGuyReports.Com Publish a New Market Research Report On –“ Biofortication 2019 Global Market to Reach US$ 160.05Mn and Growing at CAGR of 9.05% by 2026”.
Pune, India – September 9, 2019 /MarketersMedia/ —
Description:-
Biofortification is the technique of breeding crops to increase their nutritional value. Biofortification is a breeding process under which nutritional value of crops is increased in terms of the level of vitamins, minerals or higher protein to make healthier crops. It is different from conventional fortification program because it employs techniques on making plant foods more nutritious at the growing stage, rather than having nutrients added to the foods when they are being processed.
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Key players
Syngenta
DowDuPont
Bayer
BASF
Monsanto
Charles River
LemnaTec
Intertek
Agro BioSciences Inc.
Deficiencies of various micronutrients, including vitamin A, zinc, and iron are common in low and middle-income countries and affect billions of people. The rural poor mostly have a diet of staple crops such as rice, wheat, and maize, which are low in micronutrients, and most of them cannot afford enough fruits, vegetables or meat products that are essential to obtain healthy levels of these nutrients. By increasing the micronutrient levels in staple crops by way of biofortification can help prevent and reduce micronutrient deficiencies.
One of the major challenges that most of the country is facing today is that one-sixth of the world’s population suffers from hunger, a situation which is totally unacceptable. The reason behind this “hidden hunger” is quality, rather than the quantity, of the food available, and it is closely related to the fact that in many poor developing countries people depend only or mostly on low-protein staple crops for food.
Market Segmentation
In 2017, the global Biofortification Market was valued US$80.00 million and since there is a spike in the number of factors supporting the industry, the market is expected to hit the US$160.05 million mark by 2026 while registering a CAGR of 9.05%.
The market has been segmented on the basis of crop type:
• Sweet Potato
• Cassava
• Pearl Millet
• Corn
• Rice
• Wheat
• Beans
And by target nutrient:
• Zinc
• Iron
• Vitamins
The report is prepared on the basis of several primary sources which covers both the supply and demand sides of the market. Interviews were conducted to obtain qualitative and quantitative information. In the secondary research, information collection has been done through various secondary sources such as Hoovers, Bloomberg BusinessWeek, and Dun & Bradstreet for reference.
Global biofortification market report includes PESTLE analysis, competitive landscape, and Porter’s five force model. Market attractive analysis has been conducted wherein all the segments are benchmarked based on the market size, growth rate, and general attractiveness.
Regional Analysis
The research report covered detailed market analysis and forecasts on global biofortification market and global biofortification market size for North America, Europe, Asia Pacific, The Middle East & Africa, and South America. These markets are analyzed and forecast on the global biofortification market is provided in the report. The various studies, as well as recent successes in delivery, provide evidence that biofortification is a promising strategy for combating a serious problem of hidden hunger.
Progress towards more nourishing future
When the nutrition community realized that minerals and vitamin deficiencies were causing damage to a large number of people, they started different campaigns such as distributing vitamin A capsules which would reduce preschool mortality rate by 23%. When a consumer buys crop that’s biofortified, they pay the same amount of money and at the zero extra cost they get more minerals and vitamins in their diets.
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