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2024 Global Market Landscape: Prebiotic Fiber Trends and Consumer Insights
prebiotic fiber market segments
According to The Business Research Company's, The prebiotic fiber market size has grown rapidly in recent years. It will grow from $6.51 billion in 2023 to $7.23 billion in 2024 at a compound annual growth rate (CAGR) of 11.1%. The growth in the historic period can be attributed to increasing awareness about the importance of gut health, growing consumer interest in natural and functional foods, expansion of the aging population, rising demand for low-calorie and sugar-free food alternatives, and growing popularity of plant-based diets.
The prebiotic fiber market size is expected to see rapid growth in the next few years. It will grow to $11.06 billion in 2028 at a compound annual growth rate (CAGR) of 11.2%. The growth in the forecast period can be attributed to growth of the functional food and beverage industry, rising prevalence of digestive health disorders, growing emphasis on preventive healthcare and wellness, increasing investment in product development, growing consumer interest in personalized nutrition. Major trends in the forecast period include prebiotic fiber supplements, personalized nutrition, cosmetic products, fermented foods, baby food products, and prebiotic fiber-enriched beverages.
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Market Drivers and Trends:
The growing popularity of plant-based diets is expected to propel the growth of the prebiotic fiber market going forward. Plant-based diets involve eating primarily or fully plant-derived foods, such as fruits, vegetables, grains, nuts, seeds, and legumes, while limiting or eliminating animal products. The growing popularity of plant-based diets can be attributed to increasing awareness of their health benefits, ethical considerations regarding animal welfare, and concerns about environmental sustainability. Prebiotic fiber plays an essential role in providing nutrition for beneficial gut bacteria, supporting digestive health, and enhancing the absorption of nutrients from plant-based foods, thereby complementing the nutritional profile of these diets. For instance, in April 2023, according to a report published by The Plant-Based Foods Association, a US-based trade association representing the plant-based food industry, plant-based foods accounted for $8 billion in U.S. retail sales in 2022, representing an increase of approximately 6.67% from $7.5 billion in 2021. Therefore, the growing popularity of plant-based diets is driving the growth of the prebiotic fiber market.
Major companies operating in the prebiotic fiber market are focusing their efforts on introducing functional foods and beverages fortified with prebiotic fiber, such as prebiotic fiber-enriched beverages, to reach health-conscious consumers seeking convenient options to support digestive health. Prebiotic fiber-enriched beverages are those that have extra prebiotic fibers added to them to aid in digestion and gut health. For instance, in November 2023, Beliv, a US-based beverage company, launched Mighty Pop, the first soda to include prebiotics, probiotics, and postbiotics in one formula. It aims to provide consumers with a convenient, palatable beverage that also supports health. Each can of Mighty Pop contains one billion live probiotic cultures, three grams of prebiotic fiber sourced sustainably from certified carbon-neutral acacia plants, and postbiotics known to support immune health and microbiome modulation. Mighty Pop offers a healthier soda alternative with three grams of sugar sourced from agave and a low calorie count of 30 per serving.
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Major Key Players of the Market:
Cargill Incorporated, The Archer-Daniels-Midland Company, Abbott Laboratories, GSK plc, The Kraft Heinz Company, Royal FrieslandCampina N.V., Kerry Group plc, Ingredion Incorporated, Tereos SA, Parmalat S.p.A., Dupont Nutrition & Health, Yakult Honsha Co. Ltd., Tate & Lyle plc, Samyang Foods, NOW Health Group Inc., BENEO GmbH, Nexira, Galam Ltd., Jarrow Formulas Inc, Cosucra Groupe Warcoing SA, Sensus, Attune Foods LLC, KeVita Inc., GTC Nutrition, Jackson GI Medical
Prebiotic Fiber Market 2024 Key Insights:
• The prebiotic fiber market size is expected to see rapid growth in the next few years. It will grow to $11.06 billion in 2028 at a compound annual growth rate (CAGR) of 11.2%.
• The Plant-Based Revolution Implications For Prebiotic Fiber Market Growth
• Prebiotic Fiber-Enriched Beverages Redefining Consumer Health Choices
• Asia-Pacific was the largest region in the prebiotic fiber market in 2023
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