Global Fortified Rice Market Report and Forecast 2024-2032

Global Fortified Rice Market Outlook

The global fortified rice market size is projected to grow at a CAGR of 6.3% in the forecast period of 2024-2032. The major market drivers are increasing prevalence of micronutrition deficiencies and rising health consciousness among the general public.

Key Trends in the Market

Fortified rice is a type of rice that has enhanced nutritional values due to addition of various vitamins and minerals. Common micronutrients added to rice include vitamin A, vitamin B1, vitamin B12, iron, folic acid, and zinc. Fortification of rice can take place in different ways, including drying and coating, and is a cost-effective means to increase the nutrients provided by rice.

• Rising awareness regarding the health risks of micronutrient deficiencies such as reduced productivity, restricted development of organs, and overall poor health are driving the fortified rice market growth. Particularly for children, fortified rice is an easy way to deliver micronutrients without requiring additional tablet or capsule supplements.

• Cultivation of rice in poor quality soil and land can lead to lowered nutritional values of the rice, which can be improved by the use of fortification. Accordingly various global organisations are encouraging rice fortification to combat poor nutritional values in rice, bolstering the market for fortified rice.

• Improvements in technologies for rice fortification and reduced costs of fortification are further surging the fortified rice market demand. Amidst rising disposable incomes and increasing accessibility and affordability of fortified rice, more consumers and foodservice providers are utilising fortified rice for their usual rice preparations and recipes.

Market Analysis

Based on type micronutrients, the market is divided into vitamins, and minerals, among others. On the basis of technology, the fortified rice market segmentation is drying, extrusion, and coating and encapsulation, among others. By end user, the market is bifurcated into commercial and residential. Based on distribution channel, the market is categorised into supermarkets and hypermarkets, convenience stores, speciality stores, and online, among others. The regional markets for fortified rice are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the fortified rice global market, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans.

• Cargill, Incorporated 

• BASF SE 

• Bühler AG 

• DSM Nutritional Products AG 

• General Mills Inc. 

• Willmar International Limited 

• Qoot Food Limited 

• KRBL Ltd.

• Others

Market Share by Technology

Drying accounts for a significant portion of the fortified rice market share by technology, driven by the cost-effectiveness and stability of the drying process. In drying, rice is soaked in a solution of nutrients mixed with a carrier substance and subsequently dried through methods such as drum drying or hot air drying. Soaking rice in nutrients evenly distributes the micronutrients throughout the rice while drying helps retain the nutrients. As drying is a relatively simple process and doesn’t require specialised equipment, it is a low-cost and effective means for fortifying large volumes of rice. Fortified rice prepared through drying technology is also easy to transport and store and nutrients are retained during cooking.

Market Share by Region

Regionally, the Asia Pacific occupies a sizable share of the global fortified rice market and is anticipated to witness continued growth in the coming years. Large populations in countries in the region such as China and India, and role of rice as a staple food in various cultural cuisines is increasing the demand for fortified rice in the region. Initiatives of governments in the region towards fortifying rice to improve the nutritional status of their populations and combat malnutrition are further encouraging the adoption of fortified rice. Growing importance of nutrition and increasing health consciousness are leading to more consumers turning to fortified rice while extensive rice cultivation provides a steady supply of raw materials, further aiding the regional fortified rice market.

Competitive Landscape

Cargill, Incorporated is a food corporation founded in 1865 and currently based in Minnesota in the United States. The company caters to a wide range of end users including agricultural, animal nutrition, beauty and personal care, bioindustrial, data asset solutions, food and beverage, and foodservice.

BASF SE, one of the largest producers of chemicals worldwide, is headquartered in Ludwigshafen, Germany. Established in 1865, the company offers products for industries such as agriculture, automotive and transportation, chemicals, coating solutions, nutrition, energy and resources, paints and coatings, pharmaceuticals, and plastics and rubber.

Bühler AG, founded in 1860 and currently based in Uzwil, Switzerland, manufactures plant equipment, particularly for manufacturing advanced materials and processing foods. The key solutions and services offered by the company are in the fields of food, feed and confectionary, advanced materials, and process technologies.

Other market players include DSM Nutritional Products AG, General Mills Inc., Willmar International Limited, Qoot Food Limited, and KRBL Ltd., among others.

Key Highlights of the Report