Dietary Fibers Market to Reach USD6.5bn by 2022
The dietary fibers market is projected to reach a value of USD6.50bn by 2022, at a CAGR of 11.6% from 2017 to 2022, according to the report “Dietary fiber market by type (soluble, insoluble), application (functional food & beverages, pharmaceuticals, animal feed), source (cereals & grains, fruits & vegetables, legumes), and region – global forecast to 2022”, recently launched by Markets and Markets.
The driving factors are the increase in demand for functional foods and initiatives undertaken by governments and regulatory bodies to increase consumer awareness related to food and beverages supplements.
Some of the major key players in the market are: Cargill (U.S.); E. I. du Pont de Nemours and Company (U.S.); Ingredion Incorporated (U.S.); Archer Daniels Midland Company (U.S.); Fuerst Day Lawson (U.K.); Tate & Lyle PLC (U.K.); Kerry Group plc (Ireland); Roquette Frères S.A. (France); Südzucker AG (Germany) and Nexira SAS (France).
There is an extensive use of soluble dietary fibers in the bakery and confectionery industry: to fortify bakery products with dietary fibers, to increase the nutritional value of food items such as bread, tortillas, pastas, nutritional bars, and weight management supplements. The inulin segment, as a type of soluble dietary fibers, accounted for the largest market share in 2016. Inulin is extensively used as a food additive to enhance flavor and acts as a replacer of fats and sugar in various food applications, according to the report.
Based on source, the cereals and grains segment accounted for the second-largest share in the dietary fibers market in 2016. The availability of cereals and grains as raw materials for producing dietary fibers is high as compared to other sources such as legumes, and the high yield of dietary fiber from cereals and grains such as wheat, rice, oat bran, and corn contributed to its largest market share in the dietary fibers market.
The North American region accounted for the largest share in the dietary fibers market in 2016. This can be attributed to the increase in demand for various dietary fiber- fortified products in the U.S. and Canada. Consumer awareness related to dietary supplement consumption in this region is high, which contributed to its largest market share in this market.