Biofortification is the idea of breeding crops to increase their nutritional value. This can be done either through conventional selective breeding, or through genetic engineering. Biofortification differs from ordinary fortification because it focuses on making plant foods more nutritious as the plants are growing, rather than having nutrients added to the foods when they are being processed. This is an important improvement on ordinary fortification when it comes to providing nutrients for the rural poor, who rarely have access to commercially fortified foods. As such, biofortification is seen as an upcoming strategy for dealing with deficiencies of micronutrients in the developing world. In the case of iron, WHO estimated that biofortification could help curing the 2 billion people suffering from iron deficiency-induced anaemia.
The Biofortification Market was valued at US$ XX Mn in 201X and expected to grow at X% Compound Annual Growth Rate (CAGR) over 201X to 202X
The major driver of biofortification market is the advancement in agricultural technologies along with rising investments and funding to develop innovative agronomic practices. Rising consumer awareness about healthy diets is also boosting the demand for biofortification so as to increase the nutritional content in foods. Biofortification is used in crops such as sweet potato, cassava, rice, corn, wheat, beans, pearl millet, and others such as tomato, banana, sorghum, and barley.
The sweet potato segment is estimated to hold the largest share of the biofortification market in 2018. The demand for biofortified crops such as sweet potato and cassava has increased with the rising technological advancements to increase the nutrient content, particularly in orange-fleshed sweet potato (OFSP). Sweet potato has been an important source of energy in the human diet for centuries owing to its high carbohydrate content. However, its vitamin A content from carotene only became recognized over the past century. Using biofortification, sweet potato breeding in Africa is focused on higher yields, sweeter taste, and higher dry matter, which increase its carotene concentration.
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Key players identified in this market include:
• Syngenta (Switzerland)
• Bayer (Germany)
• BASF (US)
• DowDuPont (US).
They are focusing on increasing their presence through acquisitions and expansions and developing products specific to consumer preferences. These companies have a strong presence in the Asia Pacific and Africa. They have also set up research laboratories in various regions and have strong distribution networks.
PBI’s research report of biofortification market categorizes the biofortification market based on crop, target nutrient, and region.
On the basis of crop, the biofortification market has been segmented as follows:
• Sweet potato
• Pearl millet
• Others (tomato, banana, sorghum, and barley)
On the basis of target nutrient, the biofortification market has been segmented as follows:
• Others (¦Â-carotene, amino acids, and proteins)
On the basis of region, the biofortification market has been segmented as follows:
• Latin America
• Asia Pacific
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