What are the extension factors of soluble fibers market? TIC Gums, Tate & Lyle, WACKER, Roquette, Cargill, Fiberstar, Inc., Nexira

Global soluble fibers market has stood as one of the major beneficiaries of the changing food habits of health-conscious and aware consumer base. With the exponentially increasing number of consumers utilizing fibers as a major ingredient in their diets, the global soluble fibers industry is indeed poised for a remarkable expansion in the ensuing years. In fact, fiber – which has since long been tagged as a vital ingredient for optimal digestive health, weight control & management, etc.– has remained protruding amid myriad breakthroughs of other ingredients in the F&B industry. Global Market Insights, Inc., reports that the soluble fibers market size for the year 2016 was pegged at USD 1.5 billion and is further anticipated to exceed USD 5.5 billion by 2024. Reportedly, North America is set to hold a major chunk in the global landscape.

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High growth in the global functional food & beverages industry will be the major growth enabler for the soluble fibers market. Functional foods provide benefits beyond basic nutrition such as improving digestion, burning excess fat, etc. Proliferating demand for the nutrient-rich functional foods made from soluble fibers in the developed countries over conventional food products is a result of growing awareness in these regions. The global functional foods industry generated revenues above USD 250 billion in 2016 and is likely to surpass USD 400 billion by 2024, driven by a high demand in the developed parts of Western Europe and the U.S. owing to higher income levels and ability to spend on health & nutrition products. A rapidly ageing population in European countries will also increase demand for soluble fiber based functional food products in coming years as they provide benefits such as better digestion & bowel movement, and blood pressure as well as cholesterol regulation.

IFIC’s 2013 Functional Food Consumer Survey found that the main reason behind the disconnect among the consumer perception and actual fiber intake is the significant amount of population that struggled with proper intake of fiber or are unaware of the fact recommended levels. What this means is consumers believed that they were taking in more fibrous products than what they actually consumed.

According to raw materials, the market has been categorized into soluble fibers derived from cereals & grains, fruits & vegetables, other plant parts, and various non-food sources. Fruits & vegetables are an important source of soluble fibers and will likely account for more than USD 400 million by 2024. Bananas, garlic, leeks, onions, etc. are widely used for extraction of product types such as inulin, oligosaccharides, pectin, etc.

Among the product types, inulin is the largest segment which is likely to hold over 30% of the global share by 2024. Inulin is extensively used in fortified foods and pharmaceutical products and their lower costs will aid the market segment growth in coming years. Resistant maltodextrins are widely used in capsules for drug stabilization. This segment is likely to generate a revenue of more than to USD 60 million by the end of the forecast years.

With reference to the strategic landscape, soluble fibers market is set to witness a slew of product launches in sync with the consumer health demands. In fact, this is one of the most vital parameters anticipated to define the competitive hierarchy of this business. Cargill has already taken a step forward in this arena and has rolled out a fiber product made from whole-grain barley that promoted healthy heart. Industry experts cite more such product launches by the market players to add a renewed dynamism to the competitive landscape. For the record, some of the renowned soluble fibers market players are Tate & Lyle, DuPont Nutrition & Health, Nexira, Ingredion Incorporated, Archer Daniels Midland Company, TIC Gums, WACKER, Roquette, Cargill, Fiberstar, Inc.

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Europe will be a major soluble fibers market which is likely to gain by more than 16.6% CAGR during forecast years. A high density of ageing population coupled with increased demand for nutritional food products will propel the regional industry development. Asia Pacific will witness the most significant growth rate among other regions owing to a higher market development potential in emerging countries.

About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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