Meticulous Research®– the leading global market research company published a research report titled “Soluble Dietary Fibers Market – Global Opportunity Analysis and Industry Forecast (2018-2023)”.
The Driving Forces in the Soluble Dietary Fibers Market
According to this latest publication from Meticulous Research®, the global soluble dietary fibers market will grow at a CAGR of 12.6% from 2018 to 2023 to reach USD 3,404.0 million by 2023, driven by growing health consciousness among consumers and awareness about health benefits of soluble dietary fibers; rise in incidence of chronic diseases; increasing demand from pharma, food, and feed manufactures to incorporate soluble dietary fibers into their products; and increasing support from governments to promote healthy food across the globe. In addition, emerging applications of soluble dietary fibers and emerging markets such as Southeast Asia, Latin America, and Middle East & Africa further provides significant opportunities for the various stakeholders in the global soluble dietary fibers market. However, changes in definition and stringent regulations for soluble dietary fibers hinder the growth of this market to some extent.
Key Market Segments to Watch
The global soluble dietary fibers market is mainly segmented by source (fruits and vegetables, grains and cereals, nuts and seeds, and others), type (inulin, pectin, beta-glucan, polydextrose, maltodextrin, oligofructose, and others), application (functional foods and beverages, pharmaceuticals, animal feed, and others), and geography.
On the basis of source, fruits and vegetables sourced soluble dietary fibers commanded the largest share in the global market in 2017 and are expected to dominate global soluble dietary fibers market during the forecast period. The large share of this source is mainly attributed to their abundant availability and high content of various soluble dietary fibers such as inulin, pectin, and beta-glucan in fruits and vegetables as compared to other crops.
On the basis of type, inulin held the largest share of the soluble dietary fibers market in 2017, mainly attributed to its wide range of applications in functional food & beverages, pharmaceutical, animal feed, and cosmetics industries and multiple health benefits than other soluble fibers. However, beta-glucan market is expected to grow at the fastest rate during the forecast period with its increasing applications in various industries due to its versatile functionality and presence of no specific recommendation about the intake of beta-glucan.
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On the basis of application, functional food and beverages accounted for the major share of the global soluble dietary fibers market in 2017. The large share of this segment is mainly due to the growing use of soluble dietary fibers in food and beverage products where they are mainly used as stabilizer, texturizers, and low-calorie sweeteners. However, animal feed segment is expected to witness a fastest growth during the forecast period with the increased awareness of the beneficial effects of soluble dietary fibers in animal health, advances in canine and feline nutrition, and growing animal feed industry.
Regional Market Growth Trends
Geographically, the global soluble dietary fibers market is segmented into North America (U.S., Canada, and Mexico), Europe (Germany, France, U.K., Italy, Spain, and rest of Europe), Asia Pacific (China, India, Japan, Australia, and rest of Asia-Pacific), Latin America, and Middle East & Africa. North America commanded the largest share in the global soluble dietary fibers market in 2016, followed by Europe, and Asia-Pacific. The largest share of this region is mainly attributed to the increasing prevalence of chronic diseases, growing functional food consumption, increasing demand for healthy & nutritional products, increasing consumer expectations for innovation and healthy food products, and growing health & wellness trend. However, Asia Pacific region is expected to witness a significant growth during the forecast period due to the growing awareness about healthy diet, increasing health consciousness, booming food & beverages industry, growing economy, and rapid urbanization.
Top Companies in the Soluble Dietary Fibers Market
The key players operating in the global soluble dietary fibers market are Tate and Lyle Plc. (U.K.), E.I. Dupont De Nemours and Company (U.S.), Nexira Inc. (France), Roquette Freres Le Romarin (France), Cosucra Groupe Warcoing SA (Belgium), Futureceuticals Inc. (U.S.), Sensus B.V. (A Part of Royal Cosun Group) (the Netherlands), Beneo GmbH (A Part of Südzucker Group) (Germany), Archer Daniels Midland Company(U.S.), Ingredion Incorporated (U.S.), Herbafood Ingredients GmbH (Germany), Cargill, Incorporated (U.S.), Lonza Group AG (Switzerland), Kerry Group Plc. (Ireland), Tereos S.A. (France), and Frutarom Industries Ltd. (Israel).
Key questions answered in the report-
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