Global Market Study on Food Grade Iron Powder (2019-2029) – Increasing Fortification of 'Staple’ and 'Vegan’ Foods Drives Revenues
- Rep Id : XPLREP3892
- Published On : June, 2019
- No. of Pages : 230
- Category : Food
- Publisher : XploreMR
Food grade iron powder is used in the food and beverages industry for food fortification. Moreover, food grade iron powder is widely used in other end-user industries, such as agriculture, pharmaceuticals, and animal feed. Food grade iron powder is also used in food and feed industry to increase iron content. Iron is responsible for carrying oxygen from lungs to the entire body.
Deficiency of iron in humans can lead to reduced cognitive performance, lower work performance and endurance, impaired iodine and vitamin A metabolism, anemia, as well as increased risk of maternal mortality and child mortality (with more severe anemia).
Iron Fortification of Fertilizers Propelling Demand for Food Grade Iron Powder
Fertilizer companies are voluntarily fortifying fertilizer products with chelated micronutrients such as food grade iron powder, to increase soil fertility and prevent micronutrient deficiency in crops. Nutrient deficiency is widespread globally, owing to intensive cropping practices and degrading soil fertility/quality, thereby increasing the demand for micronutrients.
Modern cereal cropping systems, rather than traditional cultivation practices, in many developing countries, have resulted in depletion of soil nutrients, thus, resulting in lower bioavailability of nutrients in plants and eventually in the food we eat. To produce better yield and enhance productivity, an optimal nutritional program should ensure adequate intake of amino acids, carbohydrates, fats, vitamins, and food grade iron powder.
Nutrition Improvement Programs in Developing Countries Emphasizing Food Grade Iron Powder Usage
Nutritional improvement programs are specialized programs being carried out in developing regions of the African continent, subcontinent, as well as in countries of Asia. These programs typically involve fortification of staple food such wheat and maize flour, with food grade iron powder, folic acid, and vitamin A. These food fortification programs are being carried out on a huge scale, and are a cost-effective approach to add essential ingredients such as food grade iron powder, vitamins, minerals, nucleotides, and amino acids to staple food. These programs have resulted in better health of consumers in these regions, and subsequently help increase the market demand for food grade iron powder in developing countries.
Flourishing Demand for Food Grade Iron Powder for Use in Dietary Supplements
Food grade iron powder is used to treat iron deficient anemic population in the world. Iron is one of the essential micronutrients required for growth and development. Deficiency of iron leads to various health problems in the population. Iron deficiency can be treated with the help of external food grade iron supplements. Deficiency of iron can lead to low oxygen supply in the blood, cognitive disorders, anemia, etc., which can be reduced by taking food grade iron supplements. Thus, to treat iron deficiency in the population, food grade iron supplements have more demand in the dietary supplement industry.
Deficiency of Iron in Vegetarians Necessitating Iron Powder Supplementation of Vegetarian & Vegan Food Products
People with vegan diet require additional nutrients for fulfilling their dietary needs as compared to people who consume meat-based foods. Dark leafy green vegetables are the major source of iron for the global vegan population. Agronomic practices increase food grade iron powder levels in common leafy vegetables and bioavailability.
These practices include increasing food grade iron powder levels through supplementation of food grade iron powder-containing fertilizers, biofertilizers, or microbial inoculants and through breeding. This will further help reduce iron deficiency among the global population. This leads to an increase in demand for food grade iron powder in the market.
Rising Demand for Iron Powder in the Animal Feed Industry
Health issues in animals related to the deficiency of minerals such as iron, occur more frequently than identified by the majority of the livestock producers. Usually, farmers do not see any specific indications that are characteristic of trace mineral deficiency. Seven trace minerals- iron, copper, zinc, manganese, cobalt, iodine, and selenium, have been reported to be needed in supplementing animal diets. These minerals are needed in very small volumes in animal diet or feed. Feed producers, especially in North American and Western European countries have incorporated micronutrient based feed products with ingredients such as food grade iron powder.
Furthermore, this trend is very limited in the developing countries of the Asia Pacific and Latin America, though it is likely to amplify near the end of the forecast period. This leads to an increase in the demand for food grade iron powder in the animal feed industry.
The latest market report by XploreMR on the global food grade iron powder market evaluates the opportunities and current market scenario, and provides insights and updates about the corresponding segments involved in the global food grade iron powder market during the forecast period 2019-2029. The global food grade iron powder market report further exhibits the estimated data for 2019, and forecast data up to 2029 in the terms of value (US$ ‘000) and volume (Tones).
The present study exhibits the trends and market dynamics of the food grade iron powder market in seven major regions - North America, Latin America, Europe, South Asia, East Asia, Oceania, and Middle East & Africa. The report also includes the study of the current issues with consumers, and various future opportunities for the food grade iron powder market.
Food Grade Iron Powder Market: Report Description
The report explores the global food grade iron powder market for the period 2019–2029. The primary objective of the global food grade iron powder market report is to provide insights into the opportunities in the market that are consistently supporting the transformation of global businesses associated with food grade iron powder. It is very important to consider that, in an ever wavering economy, we provide the estimated (Y-o-Y) year-on-year growth rate in addition to the compound annual growth rate (CAGR) for the overall forecast, to better understand the analysis and evaluation of the global food grade iron powder market, and to discover equitable opportunities.
Yet another key feature of this report is that the estimation of the global food grade iron powder market and the corresponding revenue forecast are carried out in terms of absolute dollar opportunity. This is usually not prioritized while forecasting overall market numbers. Absolute dollar opportunity analysis is very essential in evaluating the degree of opportunity that a provider can observe to execute, as well as to contrast the potential resources from a sales perspective in the global food grade iron powder market.
The global food grade iron powder market report starts with an elaborate executive summary, market definition of various segmentations that are included, and their respective shares in the market. The report further incorporates the major macro and micro-economic factors that have an effect on the growth of the food grade iron powder market. The report also highlights various market dynamics, which include the drivers and restraints in the global food grade iron powder market.
Current opportunities as well as on-going trends in the food grade iron powder market are also discussed in this report. The report further underlines the study of the present issues with industrial processing, and opportunities for the food grade iron powder market. It also encompasses a supply chain analysis, which provides a structural view of overall profitability from the manufacturer to the end user in the food grade iron powder market. In order to provide users with a clear view of the global food grade iron powder market, we have exhibited a competitive analysis of key market players and their strategic expansions.
The competitive dashboard presents a detailed comparison of food grade iron powder manufacturers on valuable parameters such as key product offerings, total revenue, key developments, and key strategies. The study intensifies the global food grade iron powder market attractiveness analysis type, end use, and region.
To evaluate the overall market size of food grade iron powder, the report considers various fundamental aspects based on secondary research. Furthermore, it emphasizes on quantitative evaluation such as market shares by type, end use, and region, as well as other qualitative data from primary respondents, which has been consolidated to arrive at clear and accurate market estimations.
The market size was benchmarked taking into consideration global iron ore consumption. Global steel iron consumption was deduced by splitting the global food grade iron powder consumption data obtained from sources such as FSSAI, WHO, World Bank, reference pdfs, and research publications.
The average use of iron powder to obtain food grade iron powder was deducted from company reports and research publications, and was used to triangulate the process. The forecast presented in the food grade iron powder market report arrives at the total revenue being generated, and expected revenue contribution in the future by the global food grade iron powder market.
Food Grade Iron Powder Market: Competition Analysis
Detailed profiles of companies that manufacture food grade iron powder are included in the report to analyze their developmental strategies, key product offerings, and recent developments, as they have a significant role in the global market.
Some of the key players included in the food grade iron powder market report are BASF SE, Höganäs AB, AkzoNobel N.V., Ashland Global Holdings Inc., Industrial Metal Powders (I) Pvt. Ltd., American Elements, Belmont Metals Inc., Salvi Chemical Industries Ltd., DowDuPont Inc., Compass Minerals, Bayer AG, Spectrum Chemical Mfg. Corp., Micnelf USA Inc., Precheza a, Rio Tinto Metal Powders, ShinwooBesteel, Cathay Industries, Jiangxi Yuean Superfine Metal Co. Ltd., etc.
Food Grade Iron Powder Market: Segmentation
The subsequent sections analyze the global food grade iron powder market on the basis of type, end use, and region, and present a forecast for the period 2019–2029.
On the basis of type, the global food grade iron powder market has been segmented as –
- Elemental Food Grade Iron Powder
- Compound Food Grade Iron Powder
On the basis of end use, the global food grade iron powder market has been segmented as-
- Food and Beverages
- Infant Food
- Staple Food
- Processed food
- Animal Feed
- Dietary Supplements
On the basis of region, the global food grade iron powder market has been segmented as-
- North America (U.S., Canada)
- Latin America (Brazil, Mexico, Argentina)
- Europe (France, Germany, Spain, the UK, etc.)
- South Asia (India, Thailand, Indonesia, Malaysia, Philippines, etc.)
- East Asia (Japan, China, and Korea)
- Oceania (Australia, New Zealand)
- Middle East & Africa (GCC, South Africa, etc.)
XploreMR Research Methodology
XploreMR is committed to providing unbiased market research solutions to its clients. XploreMR follows a robust methodology for deducing the data that is included in this report. A demand-side approach is followed to estimate the sales of target products, followed by in-depth supply-side assessment of value generated, key trends, and events over a predefined period.
This methodology is based on the use of standard market structures, methods, and definitions that are based on inputs from local sources in over 7 regions, i.e. Europe, East Asia, South Asia, Oceania, Middle East and Africa, Latin America, and North America, which XploreMR considers for segmenting the global market. Statistics, characteristics, and variances are collected at a regional level, aggregated at the same level, and then synthesized at a worldwide level to create global market measurements. Our main sources of research include,
- Primary Research
- Secondary Research
- Trade Research
- Social Media Analysis