The dietary fibers market is valued at nearly US$ 8.47 Bn in 2021. The market is likely to grow at a CAGR of 10.6% through 2032 with a projection value of US$ 18.6 Bn.
In a recent study, Future Market Insights (FMI) offers a perspective on the growth trajectory of dietary fibres market for the period between 2019 and 2029. As per the report, global consumption volume of dietary fibres reached 1.8 metric tons in 2018, equaling revenues worth ~US$ 7 Bn. Gains will remain driven by increasing consumer awareness regarding the benefits of dietary fibres along with food manufacturers engaging in fibrous NPDs (new product developments).
As healthcare professionals continue to encourage fibre intake as a key to improving long-term health, market players are significantly paying attention to value-added offerings. Big brand companies as well as small high-tech startups are rigorously exploring the potential of dietary fibres in their products, which is likely to promise new beginnings for the market stakeholders.
Consumers, leading fast-paced lives, have started to keep an eye on dietary recommendations, resulting in a move towards proactive healthcare and lifestyles. As consumers are becoming food explorers and newer trends are emerging at rapid pace, FMI’s analysis infers that the dietary fibres market players are placing on R&D investments and new product launches.
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Fibre intake has been alarmingly low in various regions, resulting into population-wide deficiency – known as ‘fibre gap’. As science behind dietary fibres expands, this ingredient has been witnessing renewed interest from young consumers for weight management benefits, while aging consumers tend to seek digestive health benefits.
Stakeholders Leverage White Spaces to Drive Sales Opportunities
According to the FMI study, the dietary fibres market is likely to grow at CAGR of ~10% during the predefined timeframe. Obesity, diabetes, and other lifestyle diseases are on the rise, especially in developed regions, and as a result consumers are increasingly becoming health conscious and spending on high nutritional products. The study opines that a rise in consumer preference for maintaining a healthy diet and regulating body weight will provide a strong business outlook for the market players.
Use of soluble dietary fibres has been confined in functional F&B industry as a highly nutritive ingredient, while stakeholders are focused on identifying and leveraging the white spaces in their application, which range from pet food to cosmetics. Capabilities of corn fibre as an effective fibre source for pets, lignin as an emulsifier and efficient substitute for whole eggs in bakery products, pectin in food processing, and beta-glucan in cosmetic production are increasingly being explored. As the market continues to benefit from consumer shift towards plant-based ingredients and sugar substitutes, stakeholders are further exploring new sources of dietary fibres, apart from cereals & grains and fruits & vegetables.
As per the study, dietary fibres market players continue to witness growth opportunities in developed markets – Europe and North America, which collectively account for ~60% revenue share. In addition to increasing consumer spending on products with high nutritional value, government agencies in the regions are undertaking awareness campaigns to bring due attention towards the need for maintaining a balanced diet, thereby creating a high demand for dietary fibres. Market stakeholders are further eyeing on newer opportunities in Asia Pacific, particularly in countries such as China, Japan and South Korea, on the back of a notable trend for healthier eating.
FMI’s study identifies restraints that could possibly represent a threat to the lucrative stride of dietary fibres market. Research studies have found that excessive consumption of dietary fibres and their addition in processed foods can have adverse effects on human health, which may add to reluctance of consumers to adopt such ingredients.
The study opines that dietary fibres market is on an upward swing with increasing number of small players entering into the space with new product offerings that align with consumers’ trends. Leading players continue to put emphasis on filling the fibre gap through R&D activities and product innovations.
Dietary Fibres Market Segmentation
- Dietary Fibres
- Resistant Starch
- Cereals & Grains
- Fruits & Vegetables
- Other Crops
- Functional Food & Beverages
- Animal Feed
- Pet Food
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Key Questions Answered in the Report
How much is the Dietary Fibres market current worth?
Currently, the Dietary Fibres market is worth more than USD 8.8 Bn.
At what CAGR is the market expected to grow?
Dietary Fibres is expected to grow at a CAGR of around 10.6 % during the period 2022-2032.
How was the performance in the last five years?
In terms of revenue, the Dietary Fibres market grew at a CAGR of around 8.8% during 2017-2021
What are the key trends boosting Dietary Fibres sales?
Dietary Fibre’s possibilities for food fortification and their ability to suppress hunger and calorie intakeare is being used by a growing number of food product manufacturers.
How are market players reacting to the new developments in the market?
Dietary fibre manufacturers are pursuing strategic alliances and strategic partnerships with other manufacturers in order to enhance production and meet the demands of an ever-growing patient pool.
Which are the major countries driving demand for Dietary Fibres?
Italy, United States, China, and United kingdom are the major countries driving demand for Dietary Fibres market.
Who are the major players in the Dietary Fibres market?
The key players in the market are BENEO, ADM, Cargill, Incorporated, DuPont, Ingredion Incorporated, Roquette Frères, Emsland Group, Kerry Inc., The Green Labs LLC, Nexira, Tate & Lyle, Farbest Brands, Taiyo International, AGT Food and Ingredients, Batory Foods.
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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