Global Food Fortifying Agents Market to Reach $131.5 Billion by 2030
The global market for Food Fortifying Agents estimated at US$71.5 Billion in the year 2023, is expected to reach US$131.5 Billion by 2030, growing at a CAGR of 9.1% over the analysis period 2023-2030. Vitamins, one of the segments analyzed in the report, is expected to record a 10.9% CAGR and reach US$38.5 Billion by the end of the analysis period. Growth in the Proteins & Amino Acids segment is estimated at 8.7% CAGR for the next 7-year period.
The U.S. Market is Estimated at $18.6 Billion, While China is Forecast to Grow at 12.5% CAGR
The Food Fortifying Agents market in the U.S. is estimated at US$18.6 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$30.6 Billion by the year 2030 trailing a CAGR of 12.5% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 5.7% and 7.4% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 6.8% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$19.9 Billion by the year 2030.
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