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Worldwide Fortified Beverages Market is Estimated to Grow at a CAGR over 7.5% by 2023

By Herald Keeper
By Market Research Future

Fortified Beverages Market

Market Overview

Fortified beverages offer extra micronutrients which includes essential minerals and vitamins to meet the daily nutrition intake. Fortification of beverages involves the process of adding micronutrients to beverages which are generally consumed by the different age group consumers. Fortified beverages offer diverse range of products, enriched with nutrients. According to the FAO most common fortified beverages is milk based beverages, as milk is consumed on a daily based across the globe. Fortified beverages comes in various types such as fruit juices, sports drinks, energy drinks, milk based beverages, mineral water, flavored instant beverage mixes, soft drinks and others.

The demand of the fortified beverages is increasing due to the changing lifestyle coupled with the growing consumer awareness and rising health & wellness concern.

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Competitive Analysis-

The major key players in the natural Fortified Beverages Market are

  • Abbott Laboratories (U.S.)
  • The Boots Company PLC (U.K.)
  • Tropicana Products Inc. (U.S.)
  • Danone SA (France)
  • Nestle SA (Switzerland)
  • The Coco Cola Company (U.S.)
  • General Mills, Inc. (U.S.)

Global natural Fortified Beverages Market is highly concentrated in North America. APAC has massive potential for fortified beverages, as there is an increasing consumer awareness regarding the fortified beverages coupled with the per capita disposable income is anticipated to fuel the sales of fortified beverages during the forecast period.

Market Forecast

The Global Fortified Beverages are anticipated to be driven by increasing health conscious consumers in developed economies. Also, the awareness about healthy lifestyle among consumers in developing economies is supporting the growth of fortified beverages market. Key players are also emphasizing into the new product launch in the developed nations in order to acquire new consumer base. Also, the manufactures are launching their new products in various food & beverages exhibitions to create awareness of their products which in turn will accelerate the sales of fortified beverages in the near future. Fortified beverages are also gaining momentum due to the strong initiative taken by the World Health Organization (WHO) and Food & Agriculture Organization (FAO) for minimizing the occurrence of malnutrition.

Regional Analysis

Global Fortified Beverages Market is segmented into North America, Europe, Asia Pacific, and rest of the world (ROW). Among these, North America region is expected to retain its dominance throughout the forecast period. This is attributed by the increasing per capita disposable income coupled with the changing lifestyles of the consumer in U.S. Europe is also estimated to hold healthy market proportion in the fortified beverages market. However, Asia pacific is projected to register maximum CAGR during the forecast period. Especially China and India offer a lucrative opportunity in the Asia Pacific region for the fortified beverages manufacturers. Latin American region is projected to show a high potential in the fortified beverages market due to the rising disposable income of some of the countries.

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Intended Audience

  • Fortified beverages manufacturers
  • Raw material suppliers
  • End users (food industry)
  • Retailers and wholesalers
  • E-commerce companies
  • Traders, importers and exporters

Market Segmentation

Global fortified beverages market is segmented by nutrition type, product type, distribution channel and region

The post Worldwide Fortified Beverages Market is Estimated to Grow at a CAGR over 7.5% by 2023 by Market Research Future appeared first on Herald Keeper.

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