Food Grade Iron Powder Market to Reach USD8.9 Billion by 2031, Rising Demand in Food, and Agriculture Sectors | TMR

The food grade iron powder market is growing due to its increasing use in dietary supplements, food fortification, and nutritional products.

WILMINGTO, DE, UNITED STATES, December 16, 2024 /EINPresswire.com/ -- The global food grade iron powder market is projected to experience significant growth over the next several years. Valued at US$ 5.4 billion in 2022, the market is expected to grow at a compound annual growth rate (CAGR) of 5.7% from 2023 to 2031, reaching US$ 8.9 billion by the end of the forecast period. This growth is driven by the rising demand for fortified vegan food products, the adoption of cutting-edge processing technologies, and increasing awareness about iron deficiency, which affects a substantial portion of the global population.

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Market Overview

Food grade iron powder is a highly purified form of iron powder used in feed additive applications. Produced by reducing iron oxide with carbon monoxide or hydrogen at high temperatures, followed by grinding and milling, it serves as a vital ingredient in fortified foods, nutritional supplements, and agricultural products. Iron plays a critical role in human health, supporting oxygen transport in the blood and enabling proper metabolic function. As the global focus on iron fortification intensifies, the demand for food-grade iron powder is expected to continue to rise.

However, excessive intake of iron can lead to adverse health effects such as vomiting, nausea, and even preterm birth. Therefore, the consumption of food grade iron powder must be regulated, particularly for children, where oral intake above 40 mg of elemental iron is not recommended.

Market Segmentation

The food grade iron powder market is segmented based on several factors, including application, source, and region.

Application:

Food & Beverages: Iron fortification in staple foods like flour, cereals, and infant formulas is one of the key applications. As anemia remains a global health issue, food manufacturers are increasingly incorporating iron into their products to address deficiencies.

Agriculture: Iron-based nanofertilizers are becoming more popular as they improve crop yield and reduce reliance on chemical fertilizers.

Nutraceuticals: Iron fortification is also utilized in the production of dietary supplements and functional foods.

Source:

Food grade iron powder is typically derived from electrolytic iron, which offers high purity (99% Fe). This ensures the safety and effectiveness of iron supplementation in food products.

Regional Market:

Europe: Europe held the largest market share in 2022, driven by the high demand for iron fortification products in countries like France, Germany, and the U.K.

North America: The U.S. is a key player in the North American market, with the growth of powder forging and additive manufacturing technologies contributing to the sector’s expansion.

Asia Pacific: The Asia Pacific region is expected to show strong growth due to rising disposable incomes and the increasing use of food grade iron powder in agriculture.

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Regional Analysis

Europe remains the dominant market, accounting for the largest share in 2022. The region's focus on nutrition and food safety has propelled the demand for iron-fortified products. Countries like France, Germany, and the U.K. are leading the charge in promoting iron fortification to combat anemia.

North America is witnessing significant market development, particularly in the U.S. The adoption of advanced manufacturing technologies such as powder forging and additive manufacturing is increasing the demand for food grade iron powder.

Asia Pacific is expected to grow rapidly, driven by increased agricultural use of iron powder for improving crop yields. Additionally, the region’s rising disposable income is contributing to greater consumer spending on fortified food products.

Competitive Landscape

The food grade iron powder market is highly competitive, with several prominent players vying for market share. Key companies include:
BASF SE
Yara International Ltd.
DuPont Inc.
Bayer AG
Akzo Nobel N.V.
Micnelf USA Inc.
Industrial Metal Powders (I) Pvt. Ltd.

These companies are focused on continuous research and development to enhance their product offerings, improve manufacturing processes, and meet evolving consumer demand. Manufacturers are also investing in obtaining necessary certifications to ensure their products meet safety and quality standards.

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