Market Insight

Global Biofortification Market is a cost-effective and sustainable method that helps in delivering essential micronutrients to a global population with limited access to a diverse nutrient-rich diet. Biofortification is a promising method to suppress micronutrient malnutrition among the global population, especially in developing countries. However, vendors active in the market are facing certain challenges such as the lengthy regulatory approvals process for transgenic ally fortified crops, adoption of time-consuming conventional breeding methods, and need for high investments. Another major challenge being faced by market players is the development of crops with high nutrient potential that are resistant to the frequently changing climate. Thus, agricultural organizations are focusing on promoting biofortified crops in the climate-smart villages of the world, which in turn is expected to offer lucrative opportunities to the players active in the global biofortification market.

Leading Players

Some of the key players in the Global Biofortification Market are Syngenta (Switzerland), BASF SE (Germany), DowDuPont (US), Bayer (Germany) and Harvest Plus (US)

Industry Segment

The Global Biofortification Market has further been segmented by Targeted Crop, Approach and Targeted Nutrient.

By Targeted Crop, the Global Biofortification Market has been classified as Cereals and Grains, Fruits and Vegetables, Legumes and Pulses, Oilseeds and others. The cereals and grains segment is expected to be the largest while the fruits and vegetables segment is projected to register the highest growth rate during the forecast period.

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Regional Analysis

The Global Biofortification Market has been segregated by Region into, Latin America, Africa, Asia-Pacific, and the rest of the world.

Africa is also a prominent regional market projected to register the highest CAGR during the forecast period due to the increasing penetration of market players. High R&D investments in Africa’s agriculture industry has enabled the launch of testing operations of various biofortified crops in the region such as Banana, Beans, Pearl Millet, Maize, Lentils and Cassava. Moreover, the increasing prevalence of nutritional disorders and rising health awareness in the region are boosting market growth.