Dietary Fiber Market Insights
The global dietary fibre market in 2014 was valued USD 2330 million and is estimated to register a CAGR of 13.32% during the forecast period 2018-2023. The market is driven by the demand from downstream companies in food & beverages and pharmaceutical domain. This market is highly impacted by the changing preferences of the end user- in terms of taste, new product developments and industry trends. The dietary fiber market is a growing industry in terms of value and volume.
Changing Consumption Pattern in Developing Countries-Driving the Dietary Fiber Market
Consumers demand for additional benefits that go beyond basic nutrition are catered by functional foods and health supplements containing dietary fibers. The end user industries see high consumer awareness about the foods they eat and the quality of the ingredients which is driving demand for dietary fibers. Health conscious consumers driven by raising disposable incomes and changing lifestyle is creating demand for nutritional foods and in turn, the dietary fibers demand in functional foods and supplements. The increasingly ageing population is also driving the use of dietary supplements.
Consumers around the world are becoming increasingly health consciousness. They are shifting their preference from normal foods to foods that provide additional health benefits. The trend is visible not only in the developed regions, such as North America and Europe, but also in the developing regions, like Asia-Pacific, where consumers prefer fiber-rich noodles sold. The case is similar for processed meat and dairy products.
FDA’s decision to revamp US Nutrition Facts labels, a concern for Dietary Fibers Industry
Dietary fiber industry had been on high alert mode since the announcement of FDA to change the definition of “dietary fibers” under the U.S. Nutrition Facts labels in 2016. This change in definition means many of the dietary fibers based products available in the market need to be recalled or the manufacturers have to prove that their product have shown physiological benefits on humans within two years of the introduction of the new definition.
Grains & Cereals Accounted for Highest Share in the Dietary Fiber Market, by Source
The dietary fibers are used in food applications, and the functional foods category is dominating the market. The other categories using dietary fibers which are set to overtake in long run are beverages, bakery & Confectionary market. The functional beverage segment is likely to rregister a CAGR of 11.87% during the forecast period. By product type, they are categorized into soluble and insoluble dietary fibre. The market for insoluble dietary fiber is projected to register CAGR of 13.52% during the forecast period. By source, the market can be segmented into vegetable, fruits, grains & cereals, and others, while the market was led by grains & cereals, followed by vegetable segment.
Asia-Pacific is likely to Witness Strong Growth Rate in Dietary Fiber Market, as Marked by Urbanization Trends
North American dietary fibre market is likely to register a CAGR of 13.43% during the forecast peiod. The functional foods and dietary supplements markets are seeing a rising trend in North America and European region and this may result in the robust growth of dietary fibers in these markets. The consumption of dietary fibers in developing countries is expected to witness high CAGR and the four major countries which will play a major role are India, China, Brazil and Argentina.
Key Developments of Dietary Fiber Market
- 2016- Ingredion launched VERSAFIBE™ dietary fibers for low cost-in-use fiber fortification.
- 2017- Coca-Cola launched its product with dietary fiber named Coca-Cola plus in Japan.
Dietary Fiber Market Competitive Landscape
The key players in the global dietary fiber market includes
- Cargill Inc.,
- Lonza Group
- Roquette Freres
- Tate & Lyle
The key strategies being adopted by companies are launching innovative products, and mergers & acquisitions in potential markets. Most key players are based in developed countries of North America and Europe, while their subsidiaries and branches are established in many Asia-Pacific, South America and Eastern Europe countries.
Reasons to Purchase Dietary Fiber Market Report
- Analyzing outlook of the market with the recent trends and Porter’s five forces analysis
- Market dynamics which essentially consider the factors which are impelling the present market scenario along with growth opportunities of the market in the years to come
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and non-economic aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market
- Competitive landscape involving the market share of major players along with the key strategies adopted for development in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis and strategies employed by the major market players
- 3 months analyst support along with the Market Estimate sheet in excel.
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1.1 Research Methodology
1.2 Definition of the Market
1.3 Report Description
2. KEY FINDINGS OF THE STUDY
3. MARKET OVERVIEW
4. MARKET DYNAMICS
4.1.1 High prevalence of digestive disorders
4.1.2 Rise in Consumption of Functional foods
4.1.4 Changing Consumption patterns in developing countries
4.2.1 Stringent regulatory framework
4.2.2 Compliance with the Manufacturing practices
4.3.1 Consumer preferences for Dietary fiber products
4.3.2 Increasing global ageing population
4.3.3 Widening application spectrum
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5. MARKET SEGMENTATION
5.1 By Application Type
5.1.1 Functional Food
5.1.2 Functional Beverages
5.1.4 Bakery & Confectionary
5.2 By Product Type
5.3 By Source
5.3.3 Grains & Cereals
5.3.4 Others (Legumes, Nuts, Soy)
5.4 By Geography
5.4.1 North America
5.4.4 South America
18.104.22.168 South Africa
6. Competitive Landscape
6.1 Most active companies
6.2 Most adopted strategies
6.3 Market Share Analysis
7. Company Profiles
7.3 Royal DSM
7.5 Archer Daniels Midland (ADM)
7.6 Grain Processing Corp
7.8 Tate and Lyle
7.9 General Mills
7.10 Procter and Gamble
7.14 Sas Nexira
7.15 Novus International