Fortified Rice Market Outlook
According to the report by Expert Market Research (EMR), the global fortified rice market size is projected to grow at a CAGR of 6.3% between 2024 and 2032. Aided by the increasing fortification of rice with multiple micronutrients, the market is expected to grow significantly by 2032.
Fortified rice involves enriching rice with essential vitamins and minerals to combat nutritional deficiencies and improve overall health. This fortification process is especially vital in regions where rice is a staple food, and malnutrition rates are high.
The primary driver of the fortified rice market demand is the increasing global prevalence of micronutrient deficiencies, particularly in developing countries. Fortification of staple foods like rice is an effective way to address these deficiencies, contributing to the market’s growth.
Furthermore, governments and international organisations’ initiatives to combat malnutrition have significantly influenced the fortified rice market. These entities often mandate or encourage the fortification of staple foods, driving the production and consumption of fortified rice.
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The rising awareness among consumers about the importance of a balanced diet and the health benefits of nutrient-rich foods is another factor propelling the fortified rice market growth. This awareness has led to increased demand for fortified rice products.
One of the notable trends in the fortified rice market is the growing focus on the fortification of rice with multiple micronutrients, such as iron, folic acid, and zinc. This approach is seen as more effective in addressing various nutritional deficiencies simultaneously.
Technological advancements in fortification techniques are also influencing the fortified rice market outlook. Innovations in fortification methods are enhancing the efficiency and effectiveness of the process, leading to better retention of nutrients in fortified rice.
Asia-Pacific, being the largest producer and consumer of rice, holds a significant share in the market. The high prevalence of malnutrition in countries like India and China and the large-scale government-led fortification programs contribute to the region’s dominant position in the market.
Looking ahead, the fortified rice market is poised for continued growth, driven by the increasing global focus on nutritional security and technological advancements in food fortification. The market is expected to witness innovations in fortification techniques and the introduction of new fortified rice products catering to various consumer preferences.
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Fortified Rice Market Segmentation
The market can be divided based on type micronutrients, technology, end use, distribution channel, and region.
Market Breakup by Type Micronutrient
- Vitamins
- Minerals
- Others
Market Breakup by Technology
- Drying
- Extrusion
- Coating and Encapsulation
- Others
Market Breakup by End Use
- Commercial
- Residential
Market Breakup by Distribution Channel
- Supermarkets and Hypermarkets
- Convenience Stores
- Speciality Stores
- Online
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global fortified rice market. Some of the major players explored in the report by Expert Market Research are as follows:
- Cargill, Incorporated
- BASF SE
- Bühler AG
- DSM Nutritional Products AG
- General Mills Inc.
- Willmar International Limited
- Qoot Food Limited
- KRBL Ltd.
- Others
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