Biofortification Market by Crop, Target Nutrients

List of Tables

The Biofortification Market was valued at USD 141.95 million in 2023, expected to reach USD 161.91 million in 2024, and is projected to grow at a CAGR of 14.15%, to USD 358.61 million by 2030.

Biofortification involves enhancing the nutritional quality of food crops through agronomic practices, plant breeding, or biotechnological methods to address micronutrient deficiencies. This agricultural innovation is necessary to combat malnutrition, particularly in developing regions where diets lack diversity. Biofortified crops, such as vitamin A-rich sweet potatoes or iron-fortified beans, can significantly enhance nutritional intake without altering local dietary habits. The application of biofortification spans across various crops and is crucial in regions with high populations at risk of nutrient deficiencies. It holds immense potential in combating hidden hunger, which affects over two billion individuals globally. The end-use scope extends to improving public health, particularly for children and women, while also serving as a tool for sustainable agricultural practices.

KEY MARKET STATISTICS
Base Year [2023]	USD 141.95 million
Estimated Year [2024]	USD 161.91 million
Forecast Year [2030]	USD 358.61 million
CAGR (%)	14.15%

Market growth is influenced by factors such as increased public health awareness, government initiatives supporting nutritional security, and advances in agricultural biotechnology. Opportunities arise from expanding research collaborations, technological innovations in genetic engineering, and supportive regulatory frameworks. However, challenges include limited consumer awareness, acceptance issues regarding genetically modified organisms (GMOs), and infrastructural constraints in rural areas, hindering widespread adoption. Innovation can focus on developing new, non-GMO biofortification techniques, enhancing crop yield under changing climatic conditions, and integrating biofortification into global health programs. Research can also target the long-term health benefits of biofortified foods, contributing to market acceptance and expansion.

The market is inherently dynamic, with strong potential for growth in regions with high malnutrition rates. Enterprises should capitalize on the demand for fortified foods by investing in community education programs and demonstrating health impacts through case studies. Partnerships with public health organizations can facilitate market penetration and acceptance. Overall, while the biofortification market faces obstacles such as regulatory and consumer barriers, it presents substantial opportunities for innovation and sustainable business models that align health objectives with agricultural productivity goals.

Market Dynamics: Unveiling Key Market Insights in the Rapidly Evolving Biofortification Market

The Biofortification Market is undergoing transformative changes driven by a dynamic interplay of supply and demand factors. Understanding these evolving market dynamics prepares business organizations to make informed investment decisions, refine strategic decisions, and seize new opportunities. By gaining a comprehensive view of these trends, business organizations can mitigate various risks across political, geographic, technical, social, and economic domains while also gaining a clearer understanding of consumer behavior and its impact on manufacturing costs and purchasing trends.

Market Drivers
- Advancements in biotechnological tools in plant breeding coupled with increased yield
- Rising consumer demand for food with high-nutritional composition across the world
- Increasing funds allocated for agronomic practices and farmers' interest in producing mineral-rich crops
Market Restraints
- High cost of biofortification
Market Opportunities
- Growing prevalence of nutritional deficiencies along with malnutrition in under-deverloped and developing regions
- Less government regulations for biofortified products
Market Challenges
- Fortified and supplements are preferred over biofortified products among urban population

Porter's Five Forces: A Strategic Tool for Navigating the Biofortification Market

Porter's five forces framework is a critical tool for understanding the competitive landscape of the Biofortification Market. It offers business organizations with a clear methodology for evaluating their competitive positioning and exploring strategic opportunities. This framework helps businesses assess the power dynamics within the market and determine the profitability of new ventures. With these insights, business organizations can leverage their strengths, address weaknesses, and avoid potential challenges, ensuring a more resilient market positioning.

PESTLE Analysis: Navigating External Influences in the Biofortification Market

External macro-environmental factors play a pivotal role in shaping the performance dynamics of the Biofortification Market. Political, Economic, Social, Technological, Legal, and Environmental factors analysis provides the necessary information to navigate these influences. By examining PESTLE factors, businesses can better understand potential risks and opportunities. This analysis enables business organizations to anticipate changes in regulations, consumer preferences, and economic trends, ensuring they are prepared to make proactive, forward-thinking decisions.

Market Share Analysis: Understanding the Competitive Landscape in the Biofortification Market

A detailed market share analysis in the Biofortification Market provides a comprehensive assessment of vendors' performance. Companies can identify their competitive positioning by comparing key metrics, including revenue, customer base, and growth rates. This analysis highlights market concentration, fragmentation, and trends in consolidation, offering vendors the insights required to make strategic decisions that enhance their position in an increasingly competitive landscape.

FPNV Positioning Matrix: Evaluating Vendors' Performance in the Biofortification Market

The Forefront, Pathfinder, Niche, Vital (FPNV) Positioning Matrix is a critical tool for evaluating vendors within the Biofortification Market. This matrix enables business organizations to make well-informed decisions that align with their goals by assessing vendors based on their business strategy and product satisfaction. The four quadrants provide a clear and precise segmentation of vendors, helping users identify the right partners and solutions that best fit their strategic objectives.

Strategy Analysis & Recommendation: Charting a Path to Success in the Biofortification Market

A strategic analysis of the Biofortification Market is essential for businesses looking to strengthen their global market presence. By reviewing key resources, capabilities, and performance indicators, business organizations can identify growth opportunities and work toward improvement. This approach helps businesses navigate challenges in the competitive landscape and ensures they are well-positioned to capitalize on newer opportunities and drive long-term success.

Key Company Profiles

The report delves into recent significant developments in the Biofortification Market, highlighting leading vendors and their innovative profiles. These include ArborGen Inc., Arcadia Biosciences, Inc., BASF SE, Bayer AG, BioAnalyt GmbH, Church & Dwight Co., Inc., Corteva Agriscience, DuPont de Nemours, Inc., INTERMAG sp. z o.o., Intertek Group PLC, LemnaTec GmbH by Nynomic AG, Mahyco Private Limited, Nestle S.A., Okanagan Specialty Fruits Inc., and Syngenta AG.

Market Segmentation & Coverage

This research report categorizes the Biofortification Market to forecast the revenues and analyze trends in each of the following sub-markets:

Based on Crop, market is studied across Banana, Barley, Beans, Cassava, Corn, Pearl Millet, Rice, Sorghum, Sweet Potato, Tomato, and Wheat.
Based on Target Nutrients, market is studied across Amino Acids & Proteins, Iron, Vitamins, Zinc, and B-Carotene.
Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom.

The report offers a comprehensive analysis of the market, covering key focus areas:

1. Market Penetration: A detailed review of the current market environment, including extensive data from top industry players, evaluating their market reach and overall influence.

2. Market Development: Identifies growth opportunities in emerging markets and assesses expansion potential in established sectors, providing a strategic roadmap for future growth.

3. Market Diversification: Analyzes recent product launches, untapped geographic regions, major industry advancements, and strategic investments reshaping the market.

4. Competitive Assessment & Intelligence: Provides a thorough analysis of the competitive landscape, examining market share, business strategies, product portfolios, certifications, regulatory approvals, patent trends, and technological advancements of key players.

5. Product Development & Innovation: Highlights cutting-edge technologies, R&D activities, and product innovations expected to drive future market growth.

The report also answers critical questions to aid stakeholders in making informed decisions:

1. What is the current market size, and what is the forecasted growth?

2. Which products, segments, and regions offer the best investment opportunities?

3. What are the key technology trends and regulatory influences shaping the market?

4. How do leading vendors rank in terms of market share and competitive positioning?

5. What revenue sources and strategic opportunities drive vendors' market entry or exit strategies?

Product Code: MRR-431752EA4822

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Advancements in biotechnological tools in plant breeding coupled with increased yield
  - 5.1.1.2. Rising consumer demand for food with high-nutritional composition across the world
  - 5.1.1.3. Increasing funds allocated for agronomic practices and farmers' interest in producing mineral-rich crops
- 5.1.2. Restraints
  - 5.1.2.1. High cost of biofortification
- 5.1.3. Opportunities
  - 5.1.3.1. Growing prevalence of nutritional deficiencies along with malnutrition in under-deverloped and developing regions
  - 5.1.3.2. Less government regulations for biofortified products
- 5.1.4. Challenges
  - 5.1.4.1. Fortified and supplements are preferred over biofortified products among urban population
5.2. Market Segmentation Analysis
5.3. Porter's Five Forces Analysis
- 5.3.1. Threat of New Entrants
- 5.3.2. Threat of Substitutes
- 5.3.3. Bargaining Power of Customers
- 5.3.4. Bargaining Power of Suppliers
- 5.3.5. Industry Rivalry
5.4. PESTLE Analysis
- 5.4.1. Political
- 5.4.2. Economic
- 5.4.3. Social
- 5.4.4. Technological
- 5.4.5. Legal
- 5.4.6. Environmental

6. Biofortification Market, by Crop

6.1. Introduction
6.2. Banana
6.3. Barley
6.4. Beans
6.5. Cassava
6.6. Corn
6.7. Pearl Millet
6.8. Rice
6.9. Sorghum
6.10. Sweet Potato
6.11. Tomato
6.12. Wheat

7. Biofortification Market, by Target Nutrients

7.1. Introduction
7.2. Amino Acids & Proteins
7.3. Iron
7.4. Vitamins
7.5. Zinc
7.6. B-Carotene

8. Americas Biofortification Market

8.1. Introduction
8.2. Argentina
8.3. Brazil
8.4. Canada
8.5. Mexico
8.6. United States

9. Asia-Pacific Biofortification Market

9.1. Introduction
9.2. Australia
9.3. China
9.4. India
9.5. Indonesia
9.6. Japan
9.7. Malaysia
9.8. Philippines
9.9. Singapore
9.10. South Korea
9.11. Taiwan
9.12. Thailand
9.13. Vietnam

10. Europe, Middle East & Africa Biofortification Market

10.1. Introduction
10.2. Denmark
10.3. Egypt
10.4. Finland
10.5. France
10.6. Germany
10.7. Israel
10.8. Italy
10.9. Netherlands
10.10. Nigeria
10.11. Norway
10.12. Poland
10.13. Qatar
10.14. Russia
10.15. Saudi Arabia
10.16. South Africa
10.17. Spain
10.18. Sweden
10.19. Switzerland
10.20. Turkey
10.21. United Arab Emirates
10.22. United Kingdom

11. Competitive Landscape

11.1. Market Share Analysis, 2023
11.2. FPNV Positioning Matrix, 2023
11.3. Competitive Scenario Analysis
11.4. Strategy Analysis & Recommendation

Companies Mentioned

1. ArborGen Inc.
2. Arcadia Biosciences, Inc.
3. BASF SE
4. Bayer AG
5. BioAnalyt GmbH
6. Church & Dwight Co., Inc.
7. Corteva Agriscience
8. DuPont de Nemours, Inc.
9. INTERMAG sp. z o.o.
10. Intertek Group PLC
11. LemnaTec GmbH by Nynomic AG
12. Mahyco Private Limited
13. Nestle S.A.
14. Okanagan Specialty Fruits Inc.
15. Syngenta AG