Press release
Dietary Fiber Market 2024: Major Growth Drivers & Emerging Trend Analysis
Increasing consumer awareness pertaining to the benefits offered by fiber-fortified products will fuel dietary fibers market growth. Rising trends towards functional food along with increase in consumer affordability will enhance product penetration. As per industry estimates, over 50% of the functional foods in super/hypermarkets are fiber-fortified. Changing eating patterns accompanied by modern lifestyle will remain key driving factors.
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Food industry expansion due to consistent product development has eased the availability of dietary fibers including husk, bran, pomace, and peel. Advances in the fibrous food ingredients with more benefits and additional sources will enhance the industry size. Abundant availability of food byproducts and cost effectiveness will further drive industry growth. In addition, increasing sports nutrition and nutraceutical products intake among young and adults is stimulating dietary fibers market growth.
Health benefits including reduced risk of hypertension, obesity, stroke, heart and gastrointestinal diseases will drive the market growth. However, several issues such as rough texture and dark color have been severely restraining the popularity of fiber-fortified products hampering overall industry size. Various research and developments are being undertaken to address the limitation creating positive outlook for dietary fiber market growth.
Soluble dietary fibers market was valued over USD 1.2 billion in 2016. Health benefits such as low cholesterol levels as well as reduced risk of heart disease are driving segment growth. Increasing product demand to avoid risk for type 2 diabetes owing to reduction of obesity and weight management capabilities will enhance business growth.
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Cereals & grains will generate over USD 3.5 billion revenue by 2024. Rising consumption of cereals & grains promoting health benefits owing to abundance of phenolic antioxidants will enhance segment growth. Easy availability of raw material at low cost is expected to support this segment growth over the forecast period.
Food applications will observe over 12.5% CAGR up to 2024. Increased demand from bakery products due to its water holding capacity and therefore preventing dehydration will support growth. Efficiency of curbing obesity and constipation through increasing stool bulk are the key properties driving product penetration in food application.
North America will witness growth over 12% up to 2024. Improved standard of living driving consumption of processed and convenience food products has instigated demand for additional dietary supplements. Developed distribution channels enables convenient procurement of products thus, propelling regional industry growth.
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APAC dietary fibers market will value over USD 2 billion by 2024. Growing preference for healthy & nutritious food products owing to increase in geriatric population driving the regional demand. Increasing cases of diabetes and high blood cholesterol is expected to provide lucrative opportunities for manufacturers.
Global industry share is fragmented due to the presence of various regional as well as international players in the industry. Few key players include Cargill, Incorporated, ADM Company, Lonza Group AG, Nexira, Ingredion Incorporated, DuPont and Roquette Freres. Acquiring of small scale firms, expansion of regional footprint and increased investments in research and development are major strategies adopted by market players to enhance their market share.
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