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Market Overview:According to a new report by Market Research Future, the global dietary fiber market is predicted to showcase a healthy growth rate during the assessment period (2018-2023) owing to the growth of confectionery and bakery products. Dietary fiber is a carbohydrate which cannot be digested by the enzymes present in our body and is generally found in vegetables, dried peas, fruits, cereals, lentils, nuts, and other plant sources.
Future Drivers and Restraints Impacting the Market
With the growing consumption of nutraceuticals products and sports nutrition, the global market for dietary fiber is likely to expand over the assessment period. Also, the growth of confectionery and bakery products has also contributed to the growth of the market. The increasing stomach related issues along with health awareness has contributed to the growth of dietary fibers in an individual’s daily diet. Demand from pharmaceutical and food and beverage sector is also driving the global market over the review period.
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Dietary fiber is beneficial for a healthy diet. Consumption of dietary fiber normalizes the bowel movements, helps to maintain the bowel health, reduces the cholesterol level, controls the level of blood sugar in an individual, and helps to achieve a healthy weight. These factors also positively impact the market over the assessment period. Additionally, several fast moving consumer goods have integrated dietary fibers in their products to boost the nutritional values.
Increasing awareness in the fitness and wellness sector has enhanced the market growth over the review period. Also, change in lifestyle along with increasing awareness associated with the diverse effects of consumption of junk food have resulted in the demand for dietary fibers to balance the nutritional requirements. Moreover, the growing demand for high-quality animal feed is also predicted to enhance the sales of dietary fiber.
Meanwhile, certain functional requirements and strict government regulations are hindering the growth of the market over the assessment period. Also, strict regulations during the manufacturing stage might increase the production cost, thus impacting the overall market. Moreover, lengthy and costly product testing procedure and time-consuming product approval can inhibit the market growth over the review period.
Industry News:
Innovation in the fiber market has been initiated again as the FDA has accepted citizen petitions to classify inulin and other non-digestible carbohydrates as legal dietary fibers. In June, the agency said it would bring eight additional fibers, including polydextrose and inulin, within the legal definition of a dietary fiber, which will allow these fibers to contribute to the total fiber listing on the Nutrition Facts label.
Competitive Analysis:
The major players operating the global dietary fiber market are Archer Daniels Midland Company (U.S.), Shandong Minqiang Biotechnology Pvt Ltd (China), Ingredion Incorporated (U.S), DowDupont Inc. (U.S.), Südzucker AG Company (Germany), Tate & Lyle (U.K), Cargill Incorporated. (U.S.), B&D Nutritional Ingredients Inc. (U.S.), Lonza Group AG (Switzerland), Roquette Frères S.A. (France), and others.
Market Segmentation:
The global dietary fiber market has been segmented on the basis of function, source, end-user, fiber component, and region.
By mode of source, the global dietary fiber market has been segmented into vegetables, fruits, plant extracts, whole grain, seaweed extract, microbial gum, woody plants, and others. Among these, the segment for whole grain is predicted to account for the largest market share over the review period. High amount of product availability compared to other sources like legumes has enhanced the market positively.
By mode of end-users, the global dietary fiber market has been segmented into pharmaceutical, breakfast cereals, functional food & beverages, animal feed, and others. Among these, the segment for functional food and beverages is predicted to hold a major share during the assessment period.
By mode of function, the global market for dietary fiber has been segmented into binding agents, gel formation, fermentation, water holding capacity, viscosity, and others.
By mode of fiber component, the global market for dietary fiber has been segmented into lignin, inulin, chitin, pectin, cellulose, hemicellulose, polydextrose, and others.
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North America Predicted to Hold the Largest Share
The global dietary fiber market spans across Europe, North America, Asia Pacific, and Rest-of-the-World. Among all the regions, North America is predicted to hold the largest market share in 2018 and is anticipated to maintain its dominance over the assessment period. Owing to the increasing growth of functional food and beverages products among the North American consumers, there has been a prominent growth in the market in this region. Moreover, with the growing per capita, disposable income along with willingness among the consumers to pay a high price for healthy products are some of the key factors affecting the market growth in this region positively. Additionally, with the growing product development by the major players, the market is likely to propel over the assessment period.
The Asia Pacific region is also anticipated to expand at a high pace over the review period owing to the growing consumer spending on functional food and beverages. Moreover, promotional activities by the key players are propelling the market growth in this region in the years to come. China and India are contributing towards the growth of this region over the forecast period.
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