Shift towards Nutrition-Rich Food to Augur Well for the Dietary Fibres Market
Paradigm shift in the food sector coupled with emergence of novel ideas and significant transformations in retail platforms has highly influenced the market. Increasing consumer inclination towards nutrition has triggered the consumption of dietary fibres. Moreover, awareness regarding lifestyle diseases such as diabetes, cardiovascular disorders, obesity and hypertension has further influenced the demand for dietary fibres. Dietary fibres, particularly sourced from cereals, also help in reducing systemic inflammation and risk of multiple associated diseases.
In addition, considering growing awareness of dietary fibres, manufacturers are also considering possibilities for including them in food fortification. Fibre enrichment, higher digestive tolerance without tampering taste, texture and colour along with consumer friendly labelling is being mulled upon by manufacturers. This is mainly to market and position their products as fibre rich with better taste, high in nutrition and with zero side effects.
Study says that the global dietary fibres market was valued at around US$40 Bn in 2020 and is projected to register at a rate of over 8% in the coming five years to cross US$75 Bn.
Soluble Dietary Fibres Likely to Account for Significant Share
Soluble dietary fibres are expected to witness increasing volume sales worldwide. Suitable for both human and animal consumption, soluble dietary fibres facilitate improved digestion and breakdown of essential nutrients. These fibres are sourced from vegetables and fruits, cereals, nuts, and whole grains. Soluble dietary fibres sourced from fruits promote gut health and reduce acidic reflux problems. While those sourced from vegetables regulate functions of intestines. Inulin, a soluble dietary fibre, is expected to account for a significant share in the market. This is mainly due to its widening scope of use. Inulin is used as flavour imparting and enhancing additive in beverages and food products and also acts as replacement for sugar in applications such as frozen desserts and bakery products. Against this backdrop, growing adoption of soluble counterparts is expected to largely contribute to the valuation of the global market.
Europe Likely to Account for a Significant Share; Asia Pacific to Remain Optimistic
Growing awareness apropos to consumption of fibrous food and associated health benefits of dietary fibres have been driving their sales across developed economies in Europe. Shift towards healthy diet has translated into a transition towards high fibre food consumption from traditional food products. The dietary fibres market growth is also influenced by growing demand for functional beverages and food along with dietary supplements. This has resulted in consumers including dietary fibres as a part of their every day meal.
Moreover, regulatory authorities are supporting the consumption of dietary fibres by labelling different types of fibres under the dietary fibres domain. For instance, in the past, AOAC method has been adopted by UK FSA (Food Standards Agency) that has labelled inulin as a dietary fibre. With such a development in place, manufacturers can claim their product to be rich in fibber or enriched with fibers in the ingredient label information. Such factors are expected to augur well for the Europe dietary fibres market in the following years and is likely to account for a significant share in the global market.
On the other hand, countries in Asia Pacific are likely to present potential opportunities for growth of dietary fibres market. Demand of dietary fibres in this region is expected to increase on the back of growing consumption of functional food. Moreover, other aspects such as growing population coupled with stable rise in GDP per capita and disorders associated with sedentary lifestyle are further prompting the consumption or inclusion of dietary fibres in daily meals. That said, market for dietary fibres in Asia Pacific is projected to expand at a momentous rate and manufactures and distributors can expect an optimistic scenario in the following years.
Dietary Fibres Market: Competitive Landscape
Owing to widening application scope of dietary fibres, they are also exploring new sources such as wheat straw, soy hulls, corn stalks and sea weed to include in their portfolio. In addition, sensing the versatility of dietary fibres in everyday diet, players are also venturing into animal feed and pet food sectors to grasp significant opportunities therein.
Major players in the market are focusing on collaborations, partnerships and acquisitions to gain market position and brand development. For instance, in 2021, Tate & Lyle Plc has announced acquisition of China based Quantum Hi-Tech Biological Co. Ltd from ChemPartner Pharmatech Co. Ltd. The acquisition is valued at around US$ 237 million, which is expected to strengthen position of Tate & Lyle in dietary fibres market.
Few of the major players in the market include BENEO, Kerry Group, Lonza, DuPont, Cargill Incorporated, Tate & Lyle, ADM, DSM and Ingredion.
Global Dietary Fibres Market is Segmented as Below:
Key Elements Included In The Study: Global Dietary Fibres Market
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