Key Participants Add Soluble Fiber in their Products as Consumers Look for Fiber-rich Foods to Curb Ailments: Industry Expected to Cross US$ 5.4 billion by 2033. Growing awareness about the health among people and opting for food products that can meet the demand for functional food are enhancing the growth of soluble fiber market
DUBAI, United Arab Emirates, Jan. 23, 2023 (GLOBE NEWSWIRE) — The global soluble fiber market is projected to have a high-paced CAGR of 8.2% during the forecast period. The current valuation of the soluble fiber market is US$ 2.4 billion in 2023 and is anticipated to reach a high of US$ 5.4 billion by the end of 2033.
Key aspects driving the sales of soluble fiber are the growing health consciousness among customers and the increased ease of integration of the soluble fiber application base. The increasing use of nuts and seeds due to their nutritional benefits is likely to drive category expansion over the forecast period. One of the key factors leading to the growing demand for these goods is the increased usage of organic components in the production process of nuts and seeds.
The nuts and seeds category is estimated to develop in emerging nations due to its high protein content. The Food and Drug Administration (FDA) and other major regulatory organizations have also approved the health claims linked with these goods. The agency backs up assertions that soluble fiber consumption lowers the risk of coronary heart disease (CHD), cancer, and other life-threatening disorders.
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This generation is willing to spend more on better items for more health-conscious eating. This is anticipated to reveal creative market opportunities. Dietary fibers have been shown to improve weight control, heart health, immunity, satiety, and digestive health. As a result, according to Cargill, Inc., over 56% of adult customers in the United States are looking for fiber-rich meals. Furthermore, the World Health Organization recommends 25 g of fiber per day for adult women and 38 g per day for adult males. However, the global average consumption is less than 20 g/day.
The disparity, combined with rising consumer interest in health and well-being, has sparked the fiber fortification movement in the food industry. The United Kingdom Food and Drink Federation (FDF) introduced new efforts to increase fiber intake in the country in September 2021. Currently, just 9% of Americans consume the recommended amount of fiber. However, the irregularity in global laws and the increase in research and development are expected to restrict the growth of the soluble fiber market throughout the forecast period. Furthermore, international and domestic food safety requirements may provide further challenges to the growth of the soluble fiber market soon.
Key Takeaways:
- The United States is expected to hold a substantial share of the global soluble fiber market throughout the projected period. To assist the people of America to fulfil the required daily fiber consumption of 25 to 30 grams, almost all the leading food corporations and many regional and local manufacturers are adding fiber to their products.
- During the projection period, Asia Pacific soluble fiber market is predicted to hold a significant share, driven by China and Japan. Soluble fiber is created enzymatically in China from the cellulose portion of Chinese cabbage refuse.
- Owing to its use in the production of jam and jelly and its active component in reducing blood cholesterol, the “pectin” type is expected to hold the significant revenue through the forecast period.
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Competitive Landscape:
To improve the brand and income, industry participants invest in a flood of focused product releases and global expansion. To boost its consumer base and reinforce its position, they are also increasing its footprint across many continents and entering new markets, particularly emerging ones. With the increase in cardiovascular diseases and growing consciousness about health throughout the world, these participants are introducing new creative products to the market. These factors are expected to boost the global soluble fiber market size considerably.
Key Players:
- Cargill Inc.
- Sunopta Inc.
- Huachang Pharmaceuticals
- Archer Daniels Midland Company
- Tate & Lyle plc
- Danisco A/S
- INGREDION
- NEXIRA
- Kerry Group
- ADM
Recent Developments:
- In October 2019, Cargill, incorporated invested US$ 35 million in Cargill, Incorporated, situated in Europe, to manufacture soluble fibers that suit customer demand for natural and healthier goods.
- In April 2021, in China, DuPont introduced the Nurica enzyme. This enzyme is a novel enzymatic solution that allows manufacturers to make dietary fibers in the form of Galacto Oligo Saccharides naturally.
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Key Segments Profiled in the Soluble Fiber Market Survey
By Source:
- Fruits & Vegetables
- Cereals & Grains
- Others
By Type:
- Pectin
- Beta-glucan
- Polydextrose
- Inulin
- Others
By Application:
- Animal Nutrition
- Food & Beverages
- Nutraceuticals & Pharmaceuticals
- Others
By Region:
- North America
- Latin America
- Asia Pacific
- Middle East & Africa
- Europe
Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
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