The biofortification market is showing dynamism thanks to the moves created by dominating players like developments, product launches, joint ventures, mergers, and acquisitions. Data bridge market research’s report on biofortification market which is able to keep you imparted in the developing market. The key players and makes are driving the market within the forecast years of 2019-2026. This report has the SWOT assessment and Porter’s 5 Forces for biofortification market that informs you regarding the carters and curbs of the market. It moreover tracks the crucial factor traits of the market supplying you with information of definition, classifications, applications, engagements, and marketplace dispositions.
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Market Definition:
Biofortification is a process which helps in improving the nutritional quality of food crops through conventional plant breeding, modern biotechnology or agronomic practices. It differs from conventional fortification which aims to increase the nutritional levels in crops during the growth of plants rather than using manual means during crop processing.
Key Market Competitors:
- HarvestPlus
- Syngenta AG
- Bayer AG
- BASF SE
- DowDuPont
- Monsanto Company
- Charles River
Few of the major competitors currently working in the global biofortification market are LemnaTec GmbH, Intertek Group plc, Church & Dwight Co. Inc, Nestle, Intrexon, Okanagan Specialty Fruits Inc, ArborGen Inc, Arcadia Biosciences, The Mauro Seed Company, Metahelix, Mahyco, Protalix Biotherapeutics and Evogene Ltd.
Key Developments in the Market:
- In October 2018, Distributed Bio and Charles River entered into an exclusive partnership. This strategy allowed Charles River’s clients to access the Distributed Bio’s integrated antibody optimization technologies and antibody libraries.
- In February 2018, the Bill & Melinda Gates Foundation awarded HarvestPlus-India with a USD 6 million grant for expanding its biofortification work in two new states including Odisha and Bihar. This strategy would help in the expansion of the company and to enhance its customer base.
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Market Drivers:
- Rising consumer awareness regarding healthy diets is driving the market demand
- Technological advancements is also expected to drive the market growth
Market Segmentation:
By Crop
- Sweet potato
- Cassava
- Rice
- Corn
- Wheat
- Beans
- Pearl millet
- Others
- Tomato
- Banana
- Sorghum
- Barley
By Target Nutrient
- Zinc
- Iron
- Vitamins
- Others
- A-carotene
- Amino acids
- Proteins
By Geography
- North America
- South America
- Europe
- Asia-Pacific
- Rest of Asia Pacific
Market Restraints:
- Lower awareness regarding the bio-fortified crop benefits is expected to restrain the market growth
- Climatic changes is also expected to hinder the market growth
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