Dietary Fibres Market Expected to Expand at a Steady CAGR through 2026
In 2017, the functional food and beverage segment by application is expected to be valued at more than US$ 1 Bn and is expected to expand at a CAGR of 16.7% in the global dietary fibres market over the forecast period to reach close to US$ 6 Bn by the end of 2026. This segment is estimated to record incremental opportunity of close to US$ 5 Bn between 2016 and 2026. The functional food and beverages segment is expected to remain dominant in the global dietary fibre market throughout the forecast period with a revenue share of close to 50% by 2026 end.
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Rising awareness of healthy and nutritional food products anticipated to boost the growth of the functional food and beverages segment
Growing consumer concerns about healthy and nutritional food products are increasing and as a result of this, consumers are shifting preference towards healthy as well as nutritional products, which is driving the revenue growth of the functional food and beverages segment. Rising demand for fibre supplements in order to fulfil nutritional requirements is creating a positive impact on the functional food and beverages segment. Factors such as increasing ageing population, growing prevalence of lifestyle diseases and increasing healthcare costs are other major factors boosting the demand for functional food and beverages globally. These factors are resulting in rapid consumer shift towards dietary supplements to stay healthy and fulfil their nutritional requirements. The above factors are also resulting in customers opting for dietary fibre supplements that are rich in vitamins, minerals and other essential ingredients. Increasing preference towards consumption of dietary fibre rich products among consumers owing to rising awareness regarding the various health benefits of dietary fibres including normalised bowel movement, reduced cholesterol levels, controlled blood sugar levels and also as a means to maintain healthy body weight is a major factor driving revenue growth of the functional food and beverages segment, and this trend is expected to continue in future as well.
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The functional food and beverages segment is projected to be the fastest growing segment by application in the North America dietary fibres market
In 2017, the functional food and beverages segment is estimated to be valued at US$ 0.40 Bn and is expected to expand at a CAGR of 16.3% over the forecast period to reach close to US$ 2 Bn by the end of 2026. This segment is estimated to create incremental opportunity of more than US$ 1,000 Mn between 2016 and 2026. In Latin America, the functional food and beverages application segment is estimated to create incremental opportunity of more than US$ 400 Mn between 2016 and 2026. The functional food and beverages segment is expected to expand at a CAGR of 17.8% over the forecast period in Western Europe. In 2017, the functional food and beverages segment is expected to be valued at a little more than US$ 200 Mn in the APEJ region, while in the MEA dietary fibres market, the functional food and beverages segment is anticipated to expand at a CAGR of 17.8% over the forecast period to be valued in excess of US$ 700 Mn by the end of 2026.
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