As per a new industry study by Persistence Market Research, the global dietary fibers market is set to experience a value growth of around 7.7% CAGR over the next ten years.
High demand for functional food & beverages are one of the important factors for rising growth of dietary fibers, as functional food products include sports and performance drinks, ready-to-drink beverages, energy drinks, and other enhanced and enriched beverages. Dietary fibers can be used in various functional foods such as bakery, beverages, and meat products as a nutritious ingredient.
Increasing disposable income and rising willingness to pay a high price for healthy food products are major factors for surging demand for dietary fibers. Furthermore, increasing new product development and strong promotional activities by key players are also positively impacting the sales of dietary fibers.
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Key Takeaways from Market Study
- The dietary fibers market in countries of East Asia & Latin America is expected to progress faster at CAGRs of 9.1% and 8.6%, respectively, through 2031.
- Soluble dietary fibers hold a prominent market value share at more than 80.4%. Different types of dietary fibers such as Arabinoxylan, B-Glucan, pectin, and inulin products are popular among consumers, and are expected to account for a revenue more than US$ 11 Bn by 2031.
- Key contributing factor for the high production ratio of dietary fibers is the growing importance of beta-Glucan as an immunity booster.
- North America and Europe hold more than half the share of the global market, mainly on back of high consumption of dietary fiber-based products across these regions.
- Demand from dietary supplements as an end-use product is anticipated to progress at a value CAGR of more than 8% in the Middle East and Africa and 9.6% in South Asia.
- The U.S. and China hold significant shares for dietary fibers in North America and East Asia, respectively.
- COVID-19 has had a moderate impact on the progress of the dietary fibers market. However, increasing demand for healthy and nutritious food products is expected to be recovered in the near term.
“Approved health claims of reduction of diabetes, obesity, and cholesterol through the consumption of dietary fibers has increased its demand for nutraceuticals products,” says a Persistence Market Research analyst.
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Competitive Landscape
Dietary fiber manufacturers are focusing on increasing its application by investing in research & development to come up with new products. Manufacturers are expected to continue coming up with numerous innovations to expand their product ranges. They are constantly making efforts in increasing sales across various application industries.
- In 2021, Ingredion Incorporated entered into an R&D collaboration with Amyris to create advanced development of sustainably sourced, zero-calorie, nature-based sweeteners, and potentially other types of fermentation-based food ingredients.
- In 2016, Kerry Group expanded its distribution partnership with various foreign regional companies to increase its product portfolio and contracts with top distributors in Bangladesh, China, India, Japan, Korea, Malaysia, Singapore, Taiwan, Thailand, the Philippines, and Vietnam.
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