Press release
South Korea Soluble Dietary Fibre Market Size To Grow At A CAGR Of 4.20% In The Forecast Period Of 2023-2028
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter's Five Forces Models.
South Korea Soluble Dietary Fibre Market Size, Share, Price, Trends, Growth, Key Players, Report and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
• Historical Market Value (2022): USD 83.6 million
• Forecast CAGR (2023-2028): 4.20%
• Forecast Market Value (2028): USD 87.1 million
Soluble dietary fibre helps reduce body weight while improving the overall metabolic function of the body, and also lowers blood cholesterol levels, risk of cardiovascular diseases, and inflammation. The increasing awareness pertaining to the benefits of soluble dietary fibres in South Korea is driving the demand for the product. Hence, the numerous health benefits of soluble dietary fibres and the increasing prevalence of cardiovascular conditions is fuelling the South Korea soluble dietary fibre market.
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The increasing health consciousness across the country is leading to a heightened demand for organic, natural, and health boosting food and beverage products. This factor is fuelling the demand for soluble dietary fibre-based functional food and beverage products. Over the forecast period, the increasing prevalence of sedentary lifestyles among the working population and inadequate intake of nutritional foods are expected to bolster the sale of clean-labelled soluble dietary fibre-based food products such as oats.
Furthermore, the medicinal properties of soluble dietary fibre, which include intestine stimulation and promotion of bowel movement, is expected to increase the application of the product in the pharmaceutical sector. Accordingly, the thriving pharmaceutical sector across the country is expected to garner the South Korea soluble dietary fibre market growth in the forecast period.
South Korea Soluble Dietary Fibre Industry Definition and Major Segments
Soluble dietary fibre is defined as an indigestible part of a plant which when dispersed in water, creates a viscous gel without getting dissolved in it. Soluble dietary fibre is present in several types of food items such as oats, apples, citrus fruits, and peas, among others. Upon consumption, it forms a viscous gel in the gastrointestinal tract, aiding health in multiple ways.
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Based on source, the market is segmented into:
• Fruits and Vegetables
• Grains and Cereals
• Nuts and Seeds
• Others
By type, the market is categorised into:
• Inulin
• Pectin
• Other
On the basis of application, the market is divided into:
• Functional Food and Beverages
• Animal Feed
• Pharmaceuticals
• Others
South Korea Soluble Dietary Fibre Market Trends
The key trends in the global South Korea soluble dietary fibre market include the frequent consumption of unhealthy fast foods such as pizzas and burgers, which is leading to a renewed interest in healthy functional foods. Growing research and development activities in pet care and pharmaceutical sectors, owing to the steady economic growth of the country are crucial trends generating the demand for soluble dietary fibres.
The expansion of the e-commerce sector is further providing impetus to the South Korea soluble dietary fibre market by propelling the sale of functional food and beverages. In addition, the growing innovations in beverage recipes, encouraged by the increasing demand for refreshing beverage products such as Soju and Bokbunja Ju, are further likely to garner the soluble dietary fibre market growth in South Korea in the coming years.
Favourable policies of the government aimed towards encouraging the consumption of healthy drinks and food items are expected to be key trends in the market. Further, the increasing prevalence of lifestyle disorders such as diabetes mellitus and high blood pressure among the young population in the country, is increasing awareness and interest in soluble dietary fibres.
Key Market Players
The major players in the South Korea soluble dietary fibre market report are:
• Samyang Corporation
• Daesang Corporation
• Roquette Frères S.A
• Cargill, Incorporated
• Dupont (Nutrition & Biosciences)
• Ingredion Incorporated
• Archer Daniels Midland Company
• Others
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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