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Soluble Dietary Fibers Market Size, Share, Trends Outlook And Global Forecast 2024 To 2033
Soluble Dietary Fibers Market
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According to The Business Research Company's, The soluble dietary fibers market size has grown strongly in recent years. It will grow from $3.53 billion in 2023 to $3.85 billion in 2024 at a compound annual growth rate (CAGR) of 9.0%. The growth in the historic period can be attributed to increased application in weight management products, rising demand in functional foods and beverages, incorporation in gluten-free products, development of clean label products, functional properties in food processing.
The soluble dietary fibers market size is expected to see strong growth in the next few years. It will grow to $5.58 billion in 2028 at a compound annual growth rate (CAGR) of 9.7%. The growth in the forecast period can be attributed to rise in plant-based diets, government initiatives for healthy eating, integration in sports nutrition, sustainable sourcing practices, focus on mental health benefits. Major trends in the forecast period include technological innovations in fiber processing, development of low-carb products, collaboration between food industry and research, improved extraction technologies, sustainability considerations.
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Market Drivers and Trends:
Increasing demand from pharmaceuticals are expected to propel the growth of the soluble dietary fibers market. pharmaceuticals refer to the industry involved in the discovery, development, production, and distribution of drugs and medications used for medical treatment. As an increasing number of pharmaceutical companies recognize the importance of preventive healthcare, they actively promote soluble dietary fibers for their role in preventing and managing chronic diseases. For instance, in 2021, according to The European Federation of Pharmaceutical Industries and Associations is a Brussels-based trade association, North America accounted for 49.1% of world pharmaceutical sales compared with 23.4% for Europe. A Therefore, increasing demand from pharmaceuticals is driving the soluble dietary fibers market's growth.
Product innovations have emerged as a key trend gaining popularity in the soluble dietary fibers market. Major companies operating in the soluble dietary fibers market are focused on innovating products to sustain their position in the market. For instance, in January 2021, Bellway, a US-based natural fiber brand, launched clean label soluble fiber of the 'next generation' that is excellent for gluten-free and paleo diets. This soluble fiber is made from all-natural and organic ingredients. The major component of the soluble fiber is psyllium, which is praised for its capacity to feed good bacteria in the gut, supporting increased immunity, clearer skin, and a happier disposition.
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Major Key Players of the Market:
Tate & Lyle plc, Nexira SAS, Roquette Freres SA, Cosucra Groupe Warcoing SA, BENEO GmbH, Ingredion Incorporated, Cargill Inc., Lonza Group AG, Kerry Group plc, DuPont de Nemours Inc., FutureCeuticals Inc., Sensus BV, Archer-Daniels-Midland Company, Herbafood Ingredients GmbH, Tereos SA, Frutarom Industries Ltd., SunOpta Inc., Fiberstar Inc., Matsutani Chemical Industry Co. Ltd., Grain Processing Corporation, CP Kelco ApS, Taiyo Kagaku Co. Ltd., J. Rettenmaier & Söhne GmbH + Co. KG, Psyllium Labs LLC, Wacker Chemie AG, PMV Nutrient Products Pvt Ltd., Fenchem BioTech Ltd., CFF GmbH & Co. KG, Marshall Ingredients LLC, TIC Gums Inc., Batory Foods Inc., The Green Labs LLC, Nutri Pea Ltd., The Scoular Company, Baolingbao Biology Co. Ltd., Emsland-Stärke Hunekuhl & Co. KG
Soluble Dietary Fibers Market 2024 Key Insights:
• The soluble dietary fibers market size is expected to see strong growth in the next few years. It will grow to $5.58 billion in 2028 at a compound annual growth rate (CAGR) of 9.7%.
• Soluble Dietary Fibers Market Surges As A Vital Ally Against Escalating Chronic Diseases Worldwide
• Innovative Strides Soluble Dietary Fibers Market Soars With Cutting-Edge Product Developments
• North America was the largest region in the soluble dietary fibers market in 2023
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