Demand for Insoluble Fiber to Surge for Use in Functional Food & Beverages, Says Fact.MR
Published : 07 May 2021 Industry: Food & Beverage
Demand for insoluble fiber for use in functional food & beverage end use has been observed to be steadily growing, and is expected to showcase the same pace over the coming years. North America, being the top region, will witness higher demand for insoluble fibers as compared to other regions. Growing pharmaceutical industry is also set to bolster demand growth of insoluble fibers.
As per Fact.MR’s latest revised report, the market is estimated to be valued at around US$ 2 Bn by the end of 2021, and is expected to expand at a CAGR of 6% over the long-run forecast period. In 2020, the COVID-19 outbreak mildly hit the market and it witnessed a decline in demand from its top regional markets, namely North America and Asia Pacific. All in all, the insoluble fiber market is set to get back on track by Q2 of 2021, and is expected to witness increased demand due to growing preference of people to stay healthy and have a well-maintained health status.
Key Takeaways from Market Study
- The global insoluble fiber market is anticipated to showcase an addition of 1.8X market value by the end of 2031.
- APEJ is expected to capture a majority of market revenue and gain 161 BPS by 2031 in its market share.
- Under product, cellulose is expected to gain 278 BPS over the long-run forecast period of 2021-2031, while hemicellulose is anticipated to lose around 138 BPS over the same period.
- The market in India is projected to rise at a CAGR of more than 7% over the forecast period.
- Functional food and beverages, as an end-use application, holds a majority of the market value share, and is expected to progress at a CAGR of 5% over the next ten years.
“Growing pharmaceutical and functional food end-use industries across various regions is anticipated to propel consumption of insoluble fibers over the forecast period,”says a Fact.MR analyst.
Who is Anticipated to Hold the Market Throne?
The global insoluble fiber market is fragmented in nature, and growth of end-use industries coupled with public inclination towards intake of insoluble fiber is set to boost demand. Players such as DuPont, Ingredion, Koninklijie DSM N.V, and others are increasing their production capacities in order to fill the demand-supply gap in the market. Players such as SunOpta, Ausperl Group Pty Ltd., Batory Foods, and Grain Processing Corporation are adopting different strategies to maintain their presence and expand their market share. Detailed illustration is provided in the revised report recently published by Fact.MR.
More Valuable Insights
Fact.MR, in its new offering, presents an unbiased analysis of the global insoluble fiber market, presenting historical demand data (2016-2020) and forecast statistics for the period of 2021-2031. The study divulges essential insights on the market on the basis of product (cellulose, hemicellulose, chitin & chitosan, lignin, bran, resistance starch, and others), source (fruits, vegetables, cereals & grains, legumes, and others), and application (pet food and functional food & beverages), across seven major geographical regions of the world (North America, Latin America, Eastern Europe, Western Europe, APEJ, Japan, and the Middle East & Africa).
About the Food & Beverages Division at Fact.MR
Expert analysis, actionable insights, and strategic recommendations of the highly seasoned Food & Beverages team at Fact.MR helps clients from across the globe with their unique business intelligence needs. With a repertoire of over thousand reports and 1 million-plus data points, the team has analyzed the Food & Beverage industry across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services. Reach out to explore how we can help.
For more information, refer to our market research report or contact the PR author.
Sr. Consultant – Food & Beverages