Global Biofortifications Market - 2023-20230

Overview

Global Biofortifications Market reached US$ 110.2 million in 2022 and is expected to reach US$ 221.5 million by 2030, growing with a CAGR of 9.1% during the forecast period 2023-2030.

Increasing awareness of the health benefits of nutritious foods has fueled a higher demand for biofortified crops rich in essential vitamins and minerals. Consumers are actively seeking foods that enhance their overall well-being. This trend is further accentuated by the growing acknowledgment of widespread nutrient deficiencies, such as vitamin A and iron shortages, driving demand for biofortified foods tailored to combat these specific deficiencies. As a result, the biofortification market is responding to the health-conscious preferences of consumers, effectively addressing malnutrition, and improving public health.

In February 2021, The Global Alliance for Improved Nutrition (GAIN) and HarvestPlus launched the Commercialisation of Biofortified Crops (CBC) Programme in Nigeria to greatly expand access to biofortified seeds, cereals, and foods through commercial channels in Nigeria, the most populous country in Africa.

Sweet potatoes hold a significant share of the biofortification market due to their high amount of nutrition. Asia-Pacific holds the highest share of the biofortification market due to its significant population, prevalent malnutrition challenges, and extensive governmental and research support. In February 2022, HarvestPlus and IFFCO Kisan partnered to expand biofortified crops across India. The partnership's main goals are to increase farmers' access to capital, input, and product markets and support advocacy efforts for policies that would facilitate the development of a biofortification environment.

Dynamics

Nutritional Deficiency Awareness

Growing awareness of malnutrition highlights the significance of nutrient-rich diets. According to the World Health Organization, the worst type of malnutrition, wasting raises a child's risk of mortality by up to 12 times, and an estimated 45 million children under the age of five suffer from it. Consumer preferences for healthier food options have contributed to the increasing popularity of biofortified products.

Biofortified crops, due to their enriched nutritional content, are viewed as a practical remedy for tackling malnutrition and the associated health challenges it poses. In February 2021, UPL Ltd. in collaboration with HarvestPlus introduced biofortified vitamin A orange maize intending to reach out to farmers and undernourished people.

Government Support

Governments in several countries have recognized the public health impact of malnutrition and have included biofortification programs as part of their public health strategies to combat deficiencies. In June 2023, the ICAR (Indian Agricultural Research)Institute introduced the Rainbow Diet Campaign. The campaign aims to improve the production and utilization of biofortified tuber crop varieties produced by ICAR-CTCRI.

Governments worldwide are progressively endorsing biofortification as a strategy to enhance the health of their citizens. Government support drives the growth of the biofortification market by providing financial, regulatory, and logistical support. It enhances the visibility and adoption of biofortified crops, contributing to improved public health and nutrition outcomes.

Lack of Awareness Regarding the Benefits of Biofortified Crops

Existing consumer preferences for traditional crop varieties may hinder the acceptance of biofortified alternatives. Consumers are often unfamiliar with biofortified crops or resistant to incorporating them into their diets, leading to adoption challenges.

Limited awareness poses a challenge by reducing market demand for biofortified crops, making them less financially appealing for farmers. This lack of awareness can lead to farmers' hesitancy in adopting biofortified varieties. This hesitancy is in turn restraining the biofortification market growth globally.

Segment Analysis

The global biofortifications market is segmented based on crop, targeted nutrient, gene pool, technique and region.

Rising Need for Nutrient-rich Crop

Biofortified orange sweet potato (OSP) is a highly nutritious source of provitamin A, effectively improving the vitamin A status of children and reducing the risk and duration of diarrhea. Vitamin A deficiency in children can lead to severe health issues, including susceptibility to common infections and even blindness.

OSP, rich in provitamin A, can fulfill up to 100% of daily Vitamin A needs, significantly reducing deficiency in regions where sweet potato consumption is prevalent. With the majority of sweet potato cultivation occurring in developing countries, particularly in Africa, OSP holds great potential for improving public health and nutrition in these regions.

Geographical Penetration

Asia-Pacific's Growing Population and Prevalent Malnutrition Challenges

With a substantial global population, Asia-Pacific suffers from widespread vitamin deficiencies and hunger. According to the National Institutes of Health DBM affected 44% of Chinese individuals, of whom approximately 40% simultaneously had micronutrient deficiencies and were overweight or obese. Hence, Asia-Pacific has a greater demand for biofortified products to improve the well-being of its substantial population through the adoption of nutrient-rich crops.

Many governments in Asia-Pacific have supported and promoted biofortification programs, both through research initiatives and public health campaigns. The FoodPacfic Manufacturing Journal, September 2022, published an article highlighting the increased interest in biofortified products among commercial food companies, as well as the trends propelling this rise.

Competitive Landscape

The major global players include HarvestPlus and International Rice Research Institute.

COVID-19 Impact Analysis

COVID Impact

The pandemic disrupted global supply chains, affecting the production and distribution of biofortified crops and seeds. Restrictions on movement and trade disrupted the flow of agricultural inputs, potentially delaying biofortification efforts. Lockdowns and restrictions led to labor shortages in agriculture, impacting crop cultivation, harvest, and processing. This affected the timely production of biofortified foods.

Lockdowns and restrictions disrupted research activities related to the development of new biofortified crop varieties and limited the capacity for field trials and data collection. Farmers and producers faced challenges in accessing markets due to restrictions and reduced consumer demand, which affected the commercial viability of biofortified crops.

Russia- Ukraine War Impact

The conflict disrupted agricultural activities in the affected regions, leading to reduced crop production, including biofortified crops. Supply chains for biofortified crops and seeds are disrupted, affecting the availability and distribution of these crops to markets.

The geopolitical impact of the war may influence international cooperation and funding for biofortification programs in the region. The decreasing research and development (R&D) activities in Russia and Ukraine, resulting from the ongoing conflict, impacted the biofortification market

By Crop

• Sweet Potato
• Cassava
• Rice
• Corn
• Wheat
• Beans
• Pearl Millet
• Others

By Targeted Nutrient

• Iron
• Zinc
• Vitamins
• Amino Acid
• Others

By Gene Pool

• Primary
• Secondary
• Tertiary

By Technique

• Conventional Plant Breeding
• Agronomy
• Genetic Technology

By Region

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Russia
  • Rest of Europe
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
• Middle East and Africa

Key Developments

• In February 2023, HarvestPlus Nigeria introduced the first national recipe book featuring foods enhanced with nutrients titled 'Biofortified Crops on my Plate'. The aim of these programs is to upscale biofortified varieties of crops through Krishi Vigyan Kendras,
• In April 2022, through Krishi Vigyan Kendras, ICAR introduced two programs named Sustainable Approaches for Nutritional Security' and 'Nutritional Security and Health Promotion of Farm Families' to advance nutritional security.
• In December 2022, the Norwich Research Park, launched an innovation hub for biofortification research to raise the nutritional levels of crops and food in the UK.
• In December 2022, HarvestPlus and the Syngenta Foundation collaborated to develop biofortified crop value chains. The objective is to enhance the accessibility of biofortified seeds and empower women to act as catalysts for change along the whole value chain.
• In October 2020, the Tanzanian government launched the National Biofortification Guidelines, which will aid in preventing nutrient deficiencies among the populace and reaffirm its commitment to combating malnutrition. The recommendations give stakeholders guidance on how to manage their agricultural value chain activities. They were released by the Ministry of Agriculture (MOA) in partnership with Nutrition International.
• In September 2020, in India, Bihar introduced the nation's first pilot project for community cultivation of biofortified wheat. The Rural Development Council (RDC) of Bihar has chosen Kurkribigha as the nation's first model village for growing biofortified wheat.

Why Purchase the Report?

• To visualize the global biofortifications market segmentation based on crop, targeted nutrient, gene pool, technique and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of biofortifications market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as Excel consisting of key products of all the major players.

The global biofortifications market report would provide approximately 45 tables, 66 figures and 181 Pages.

Target Audience 2023

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies