ID: MRFR/F-B & N/2514-HCR | 110 Pages | Author: Tejas Chaudhary | June 2023
Fortified cereal market size is expected to grow at a 4.13% CAGR and reach USD 67 million by 2030.
Market Synopsis of Fortified Cereal:
Fortified cereal market size is anticipated to reach USD 67 million by 2030, registering a CAGR of 4.13% during 2022-2030. The Global Fortified Cereal Market is anticipated to be driven by the increasing health consciousness in people in developed economies. Also, the enhancement of livelihood among the consumers in developing economies is also a significant factor for the growth of fortified cereal over the forecast period. Fortified cereal is also getting momentum due to the strong initiative of the World Health Organization (WHO) and FAO for minimizing the chances of malnutrition. Due to the increasing work pressure and working women population, consumers are more inclined to adopt ready to eat food products which in turn escalates the usage of fortified cereal in the food. Fortified food offers extra micronutrients which includes essential trace elements and different vitamins. Fortified food is a completely commercial choice to add extra nutrients in the food. According to FAO, the most common fortified foods are cereals and cereal based products. Fortified cereal offers various benefits. Fortified cereal is massively consumed as various breakfast products.
The key players profiled in the Fortified Cereal Market are Nestle S.A. (Switzerland), General Mills Inc. (U.S.), Kellogg Company (U.S.), Grape Nuts, Inc.(U.S.), Abbott Nutrition Limited (U.S.), Freedom Foods Group Limited (Australia), Food For Life, Inc. (U.S.)
Study Objectives of Fortified Cereal Market:
Fortified cereal has been segmented on the basis of type of cereals such as Wheat, Rice, Barley, Oat, Corn and others. Fortified cereal market has been segmented on the basis of nutrients such as mineral and vitamin. Mineral segment is further sub segmented into zinc, folic acid, copper, iron, DHA, and others. Also, the vitamin segment is further sub segmented into Vitamin A, Vitamin C, Vitamin D and others. Fortified cereal market has been segmented on the basis of distribution channel such as store based and non-store based. Store based distribution channel has been further segmented into supermarkets & hypermarkets, convenience stores, specialist retailers and others.
The Global Fortified Cereal Market is segmented into North America, Europe, Asia Pacific, and rest of the world (ROW). Among these, Europe is estimated to retain its dominance throughout the forecast period of 2022-2030. This is attributed by the increasing awareness of the healthy food habits and increasing disposable income of the consumers. Also, various new and innovative cereal products are launched by the key manufacturers in the European countries which is anticipated to intensify the sales of fortified cereal market in the upcoming decade. North America region is estimated to account for a healthy market proportion during the review period of 2022-2030. However, Asia Pacific region is estimated to witness a maximum growth in the global fortified cereal market during the forecast period of 2022-2030.
The Fortified Cereal market is segmented under the following regions:
Rest of the world
|Market Size||USD 67 Million|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By Cereal Type, Nutrients Type, Distribution Channel, and Region|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Nestle S.A. (Switzerland), General Mills Inc. (U.S.), Kellogg Company (U.S.), Grape Nuts, Inc.(U.S.), Abbott Nutrition Limited (U.S.), Freedom Foods Group Limited (Australia), and Food For Life, Inc. (U.S.)|
|Key Market Opportunities||Strong initiative of the WHO and FAO for minimizing the chances of malnutrition|
|Key Market Drivers||Increasing health consciousness in people in developed economies, Enhancement of livelihood among the consumers in developing economies|
Nestle S.A. (Switzerland), General Mills Inc. (U.S.), Kellogg Company (U.S.), Grape Nuts, Inc.(U.S.), Abbott Nutrition Limited (U.S.), Freedom Foods Group Limited (Australia), and Food For Life, Inc. (U.S.) are the leading key players of fortified cereal market.
Fortified cereal industry size is estimated to reach USD 67 million by 2030.
Increasing health consciousness in people in developed economies is the major driving factor of the global fortified cereal market.
Europe is expected to lead the fortified cereal industry.
Key Questions Answered
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