In-depth Analysis on Dietary Fibers Market & Global Forecast to 2024
Soluble dietary fibers are expected to witness over 12% growth up to 2024. Reducing blood cholesterol and glucose levels are major benefits offered by these products. It also prevents risk of type 2 diabetes causes due to obesity. Oats, beans, peas, avocados, apples, carrots, citrus fruits, and barley few major sources.
In 2016, insoluble dietary fibers catered for over of 55% of the industry demand. Increasing occurrences of obesity and high cholesterol among youngsters are resulting into need for nutritive contents in diet. The product has witnessed increased adoption in functional food and pharmaceutical industry owing to its water absorbing property which eventually enhances digestive system.
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Cereals & grains will observe growth over 12.5% up to 2024. Large scale raw material production and easy availability gives economical costing to the industry manufacturers. Thus, enhancing demand in this segment. Major raw material in this segment includes wheat, grain, cereals, rice, oats and corn.
Fruits & vegetable sourced dietary fibers will generate over USD 4 billion by 2024. High rich sources content along with large-scale availability will positively influence industry growth in this segment. Prevention from harmful substances passed through the intestinal tract along with aids in lowering blood cholesterol levels are key advantages offered by these products.
Food applications accounted for over 35% of the global demand in 2016. Functional food industry expansion along with increase in consumer preference for fortified products has positively driven dietary fibers demand in food industry. Rise in preference towards energy and sports drinks will drive product demand in beverage industry.
North America dietary fibers market accounted for over 30% of the overall industry demand in 2016. Increased consumer awareness along with ability to pay for high priced functional food are key factors driving regional industry growth. Also, increased occurrences of obesity and diabetes in the country has influenced product demand.
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Europe is expected to gain highest growth in the beverage segment. Shift in consumer focus towards liquid products in order to have additional nutritious diet will drive regional growth. Rise in the middle-class population along with increasing disposable income will drive overall dietary fibers market growth.
Global industry share includes Cargill, Tate and Lyle, DuPont, Lonza group, Archer Daniels Midland, Roquette Freres, Nexira, Ingredion, Novartis and Royal DSM. High initial investment cost along with long product approvals by government due strict guidelines for nutrition labelling can be a major drawback for new industry participants.
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