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Biofortification Market Share

Report ID: GMI10771
Published Date: Aug 2024
Report Format: PDF

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Biofortification Market Share

Biofortification Market Company Share, (2023)

The biofortification industry is characterized by a diverse array of key players, each contributing unique strengths and capabilities to the industry. At the forefront are major agricultural and biotechnology companies such as Syngenta, BASF SE, Bayer AG, DuPont, and Corteva. These industry giants leverage their extensive research and development capabilities, global reach, and significant resources to develop new biofortified crop varieties and advance biofortification technologies. Their involvement spans from genetic modification and conventional breeding to the commercialization of biofortified seeds and crops on a large scale.

Complementing these multinational corporations are specialized biotech firms and research organizations that focus on specific aspects of biofortification. Companies like Okanagan Specialty Fruits Inc., ArborGen Inc., and Arcadia Biosciences concentrate on developing novel biofortified varieties or improving specific crops. LemnaTec GmbH and Intertek Group plc provide crucial support services in crop phenotyping, testing, and quality assurance, ensuring the efficacy and safety of biofortified products. Charles River Laboratories contributes valuable research support, advancing the scientific understanding underpinning biofortification efforts.

The biofortification market also benefits from the involvement of food industry leaders and organizations with a strong focus on nutrition and global health. Nestlé S.A., a major player in the global food industry, brings biofortified products to consumers on a large scale, integrating them into their product lines. Mahyco, with its strong presence in India, plays a vital role in developing and distributing biofortified crops suited to local conditions and needs. HarvestPlus, a non-profit organization, drives biofortification initiatives aimed at improving global nutrition, particularly in developing countries. This diverse ecosystem of market players, combining for-profit companies, research institutions, and non-profit organizations, reflects the collaborative and multifaceted nature of the biofortification industry in addressing global nutritional challenges.

Biofortification Market Share

Top companies operating in the biofortification industry include:

ArborGen Inc.
Arcadia Biosciences
BASF SE
Bayer AG
Charles River Laboratories
Corteva
DuPont
HarvestPlus
Intertek Group plc
LemnaTec GmbH
Mahyco
Nestlé S.A.
Okanagan Specialty Fruits Inc.
Syngenta

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

Market size for biofortification was USD 143.2 million in 2023 and is expected to register 7.7% CAGR from 2024-2032 owing to increasing awareness of the benefits of nutrient-dense foods, rising health consciousness among consumers, and supportive government policies worldwide.

Biofortification industry from the cereals crop type segment and is expected to register 7.9% CAGR from 2024-2032 due to the widespread consumption of cereals as staple foods globally, making them an ideal vehicle for delivering essential nutrients to large populations.

Asia Pacific industry is expected to register 7.9% CAGR from 2024-2032 due to high prevalence of micronutrient deficiencies and increasing government initiatives to combat malnutrition in the region.

ArborGen Inc., Arcadia Biosciences, BASF SE, Bayer AG, Charles River Laboratories, Corteva, DuPont, HarvestPlus, Intertek Group plc, LemnaTec GmbH, Mahyco, Nestlé S.A., Okanagan Specialty Fruits Inc., and Syngenta, are some of the major biofortification companies worldwide.