Market Size of North America Fortified Bakery Products Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 4.60 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
North America Fortified Bakery Products Market Analysis
The North American fortified bakery products market is projected to grow at a CAGR of 4.6% during the forecast period.
The busy and on-the-go lifestyles of the rising young population often dictate a need for a quick meal. Consumers are opting for fast food options that are low in calories and high in health benefits and taste. According to the Koninklijke DSM NV consumer survey, in 2020, 60% of consumers sought fortified food products, while 68% were open to trying products that help improve their nutrient intake. The rising health consciousness among consumers and the increasing prevalence of vitamin deficiencies that can cause health disorders, such as anemia, scurvy, beriberi, and pellagra, are some of the key market drivers increasing the demand for fortified bakery products.
Moreover, the laws and regulations to promote the consumption of fortified food are accelerating the demand for fortified bakery products in the region. For instance, the flour fortification of wheat flour is mandatory by law in Canada. It is governed by the Food and Drug Regulations through the Food and Drug Act. Bakery products using 100 grams of flour should contain 0.64 milligrams of thiamine, 0.40 milligrams of riboflavin, 5.30 milligrams of niacin or niacinamide, 0.15 milligrams of folic acid, and 4.4 milligrams of iron.
North America Fortified Bakery Products Industry Segmentation
A fortified bakery product is a baked good enriched with vitamins, minerals, and other nutritional ingredients.
The fortified bakery market is segmented by product type, distribution channel, and geography. By product type, the market is segmented as cake, biscuits, bread, morning goods, and other product types. By distribution channel, the market is segmented into supermarkets/hypermarkets, convenience stores, online retail stores, and other distribution channels. It provides an analysis of emerging and established economies across the region, including the United States, Canada, Mexico, and the Rest of North America. The report offers market size and forecast in terms of value in USD million for all the above segments.
| Product Type | |
| Cake | |
| Biscuits | |
| Bread | |
| Morning Goods | |
| Other Product Types |
| Distribution Channel | |
| Supermarkets/Hypermarkets | |
| Convenience Stores | |
| Online Retail Stores | |
| Other Distribution Channels |
| Geography | |
| United States | |
| Canada | |
| Mexico | |
| Rest of North America |
North America Fortified Bakery Products Market Size Summary
The North American fortified bakery products market is experiencing a notable expansion, driven by the increasing health consciousness among consumers and the prevalence of vitamin deficiencies. The demand for quick, nutritious meals is rising, particularly among the young population with busy lifestyles. This trend is further supported by consumer surveys indicating a strong interest in fortified foods that enhance nutrient intake. Regulatory measures, such as mandatory flour fortification in Canada, are also contributing to market growth. Consumers are seeking bakery products rich in protein, fiber, vitamins, and essential minerals, prompting ingredient manufacturers to innovate and produce nutrient-rich components. Major suppliers like Kerry Group, Ingredion, and DSM are introducing novel ingredients to meet evolving consumer preferences, thereby encouraging bakery product manufacturers to invest in product innovations.
The United States holds a significant share of the market, bolstered by government dietary guidelines promoting nutrient-dense foods, including fortified bakery products. The demand is further fueled by the increasing number of working women and hectic lifestyles, which drive consumers to opt for convenient, fortified options. Food companies are actively marketing bakery products with functional claims to counter the perception of these products as unhealthy. The market is highly competitive, with regional and international players like Grupo Bimbo SAB de CV, Flowers Foods Inc., and General Mills Inc. investing in research and development, enhancing distribution channels, and focusing on product innovation and packaging modifications. The penetration of social media advertisements and improved distribution networks are also contributing to the market's growth, as companies strive to increase their market share in the region.
North America Fortified Bakery Products Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Drivers
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1.2 Market Restraints
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1.3 Porter's Five Forces Analysis
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1.3.1 Threat of New Entrants
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1.3.2 Bargaining Power of Buyers/Consumers
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1.3.3 Bargaining Power of Suppliers
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1.3.4 Threat of Substitute Products
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1.3.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Product Type
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2.1.1 Cake
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2.1.2 Biscuits
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2.1.3 Bread
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2.1.4 Morning Goods
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2.1.5 Other Product Types
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2.2 Distribution Channel
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2.2.1 Supermarkets/Hypermarkets
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2.2.2 Convenience Stores
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2.2.3 Online Retail Stores
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2.2.4 Other Distribution Channels
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2.3 Geography
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2.3.1 United States
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2.3.2 Canada
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2.3.3 Mexico
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2.3.4 Rest of North America
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North America Fortified Bakery Products Market Size FAQs
What is the current North America Fortified Bakery Products Market size?
The North America Fortified Bakery Products Market is projected to register a CAGR of 4.60% during the forecast period (2024-2029)
Who are the key players in North America Fortified Bakery Products Market?
Grupo Bimbo SAB de CV, General Mills Inc, Mars Incorporated, H&S Bakery, Inc. and Mondelez International, Inc. are the major companies operating in the North America Fortified Bakery Products Market.
