Dietary Fibers Market is predicted to surge ahead at a CAGR of 7.4% and reach a valuation of US$ 14.9 Bn by 2032
NEW YORK, March 10, 2022 /PRNewswire/ -- Increased consumption off functional food and beverage items, such as sports and performance drinks, ready-to-drink beverages, energy drinks, and other enhanced and enriched beverages, is one of the major factors driving demand for dietary fibers. Dietary fibers can be incorporated as a nutritional element in a variety of functional foods, including breads, drinks, and meat products. Regular consumption of dietary fibers is believed to reduce the incidence of numerous diseases.
Consumers' increasing disposable income and willingness to pay a high price for healthy foods are two significant reasons driving the dietary fiber market's rise. Furthermore, increased new product development and strong promotional activities by key players are favorably boosting dietary fiber sales.
Fibers are becoming more popular in the dietary supplement business since they support overall health of the body while also enhancing the digestive process. Dietary fibers assist the body in breaking down conventional food into molecules that aid life support, as well as allowing the body to reap the benefits of nourishment. Consumption of digestive fiber supplements such as inulin, oligofructose, pectin, and polydextrose support the body's beneficial bacteria.
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Dietary fibers such as beta-glucan, orafti inulin, fructooligosaccharides, galactooligosaccharides, and maize fiber are largely sourced from vegetables, fruits, whole grains, and legumes, and are available from a variety of firms. Rising health and wellness trend among customers will benefit the growth of the dietary fibers market.
Overall, the global dietary fibers market is anticipated to expand at a CAGR 7.4% to reach a value of US$ 14.9 Bn by 2032.
Key Takeaways from Market Study
- The market for dietary fibers is expected to expand at CAGRs of 8.3% and 7.7% in Latin America and the Middle East & Africa, respectively.
- Market share of South Asia and Oceania was 14.4% and 3.4%, respectively, in 2021.
- The Middle East & Africa dietary fibers market is currently pegged at 76,815 tons.
- Growing consumer preference for dietary supplements is increasing the sales of dietary fibers across global markets. Based on source, the legumes segment is expected to surge at a CAGR of 8% through 2032.
- By application, the food and beverages category holds the highest market share, and is set to expand at a CAGR of 7.1%.
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"Recognized health claims of dietary fibers for combating obesity, diabetes, and cholesterol have resulted in a surge in their demand in nutraceuticals," says a Persistence Market Research analyst.
Competitive Landscape
Manufacturers of dietary fibers are working on expanding its applicability by investing in research & development to create new products. Market players are likely to keep innovating in order to extend their product variety. They are emphasizing on increasing their sales by catering to a wide range of applications across numerous industries.
- In 2021, Ingredion Incorporated announced a partnership with Amyris for the purpose of research & development in order to create nature-based sweeteners that are zero-calorie, and potentially other types of fermentation-based food ingredients that are also sustainably sourced.
- In 2016, Kerry Group expanded its distribution partnership with various foreign regional companies to expand its product portfolio and contracts with top distributors in China, India, Bangladesh, Japan, Malaysia, Korea, Singapore, Taiwan, Thailand, Vietnam, and the Philippines.
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Explore More Valuable Insights
Persistence Market Research, in its new report, offers an impartial analysis of the global dietary fiber market, presenting historical data (2017-2021) and estimation statistics for the forecast period of 2022-2032.
The study offers compelling insights based on type (soluble fiber, insoluble fiber), source (Fruits & Vegetables, Legumes, Cereal & Grains), applications (food & beverage, dietary supplements, pharmaceuticals, and animal feed), and across seven major regions of the world.
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