May 14, 2020
As per the report titled ‘Global Dietary Fibers Market Size By Product By Source, By Application Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026’, available with Market Study Report LLC, global dietary fibers market is projected to record healthy growth rate during 2020-2026.
Fiber is the indigestible part of plant-based foods that passes through the digestive tract, absorbs water along the way and improves bowel movement as well as lowers the cholesterol levels. Increasing health conscious population is driving the growth of global dietary fibers market.
Growing awareness towards various health benefits of these products including reduced risk of acquiring various health conditions such as diabetes, heart disease, constipation, diverticular disease, and colon cancer is fueling the demand for fiber-rich products.
Based on the product, insoluble segment held 64% revenue share in 2019 and is expected to show modest growth during the forecast period. Consumers are opting for fruits with edible seeds and peel, vegetables, whole grain foods, rolled oats, cereals, and brown rice as they contain water-insoluble fiber and aid in regulating pH levels and normal movement of intestine.
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Elaborating on the source, dietary fiber industry is split into cereals & grains, fruits & vegetables, and others including legumes, and nuts & seeds. Nuts & seeds segment share is projected to register 11.8% CAGR over the forecast timeline, due to growing consumption of processed nuts and seeds as a healthy and convenient snacking option. Fast paced lifestyle and mounting health concerns will further augment the product demand in the coming years.
Speaking of the application spectrum, the industry is categorized into food, pharmaceutical, beverages, companion animal nutrition, and others. The others segment comprises of personal care & cosmetics, which is slated to gain decent traction in the forthcoming years owing to shifting consumer preference for natural & organic beauty and weight management products.
Meanwhile, beverage segment is slated to grow rapidly over the forecast timeline, due to innovations in the flavor industry and escalating demand for nutrition-rich beverages.
Pharmaceutical segment is poised to experience considerable growth during the study period, primarily driven by rising cases of gastrointestinal diseases such as constipation, irritable bowel syndrome (IBS), inflammatory bowel diseases (IBD), and diverticular diseases.
From a geographical point of view, North America dietary fibers market held 34% revenue share in 2019 and is anticipated to display strong growth trends during the projection period. Growing consumer inclination towards vegetarian and high-fiber foods in tandem with rising trend of veganism is supporting the regional business outlook.
On the other hand, LATAM dietary fibers market is projected to expand at 12% CAGR through 2026, owing to rapid growth of the fruit and vegetable processing sector.
Key players in global dietary fibers market are Lonza Group, Cargill Incorporated, Nexira, Inc., DuPont, Ingredion Incorporated, Roquette Freres, Procter & Gamble, Royal DSM, GlaxoSmithKline (GSK), Kerry Group, Suedzucker, Ceamsa, and J. Rettenmaier & Sohne GmbH & Co. KG among others.