NEW YORK, Feb. 24 2022 (GLOBE NEWSWIRE) — According to a new industry study by Persistence Market Research, the global dietary fiber market is expected to grow in value at around 7.7% CAGR over the next ten years.
The high demand for functional foods and beverages is one of the important factors in the increase dietary fiber growth, as functional food products include sports and performance drinks, ready-to-drink beverages, energy drinks and other enhanced and fortified beverages. Dietary fiber can be used in various functional foods such as bakery, beverages and meat products as a nutrient ingredient.
The increase in disposable income and the growing willingness to pay a high price for healthy food products are the main factors for the increase in demand for dietary fiber. In addition, the increasing development of new products and strong promotional activities of major players are also positively impacting the sales of dietary fiber.
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Key insights from market research
- The dietary fiber market in East Asian and Latin American countries is expected to grow faster at CAGRs of 9.1% and 8.6%, respectively, through 2031.
- Soluble dietary fiber holds a significant share of the market value at over 80.4%. Various types of dietary fiber such as arabinoxylan, B-glucan, pectin and inulin products are popular with consumers and are expected to account for more than US$11 billion in sales by 2031.
- The main contributing factor to the high production rate of dietary fiber is the growing importance of beta-glucan as an immune booster.
- North America and Europe hold more than half of the global market share, mainly due to high consumption of dietary fiber products in these regions.
- Demand for dietary supplements as an end-use product is expected to grow at a CAGR of over 8% in the Middle East and Africa and 9.6% in South Asia.
- The United States and China hold large shares of dietary fiber in North America and East Asia, respectively.
- COVID-19 has had a moderate impact on the progress of the dietary fiber market. However, the growing demand for healthy and nutritious food products is expected to recover in the short term.
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“Approved health claims about reducing diabetes, obesity and cholesterol through dietary fiber consumption have increased its demand for nutraceuticals,” says an analyst at Persistence Market Research.
Dietary fiber manufacturers are focusing on increasing its application by investing in research and development to come up with new products. Manufacturers should continue to come up with many innovations to expand their product lines. They are constantly striving to increase sales in various application industries.
- In 2021, Ingredion Incorporated entered into an R&D collaboration with Amyris to create advanced development of natural, zero-calorie, sustainably-sourced sweeteners, and potentially other types of fermentation-based food ingredients.
- In 2016, Kerry Group expanded its distribution partnership with various overseas regional companies to increase its product portfolio and contracts with top distributors in Bangladesh, China, India, Japan, Korea, Malaysia, Singapore, in Taiwan, Thailand, the Philippines and Vietnam.
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Explore more valuable information
Persistence Market Research in its new report offers an unbiased analysis of the global dietary fiber market, presenting historical data (2016-2020) and estimation statistics for the forecast period 2021-2031. The study offers compelling information on the basis of type (soluble and insoluble fiber), source (fruits and vegetables, legumes, cereals and grains) and application (food and beverages, dietary supplements, pharmaceuticals and food for animals), across seven major regions of the world.
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