A recently published report by Future Market Insights (FMI) offers key insights on global dietary fibres market over the forecast period (2016-2026) on the basis of various factors that are influencing market growth. According to the report, the market is projected to expand at an impressive growth rate through 2026. The demand for dietary fibres globally is likely to surge and will bring revenues more than US$ 12 Bn, towards the end of assessment period. Increasing awareness related to dietary fibres is poised to be potential driver for the growth of the market. Additionally, increasing preference to edible products and consumables rich in dietary fibre content is another factor that will encourage global production of dietary fibres.
Consumption of Dietary Fibres Globally to Surpass 1,164 KT
In terms of volume, the dietary fibres were consumed approximately 347 KT across the globe in 2016 and it is estimated that this number is likely to reach over 1,164 KT by the end of 2026 with expansion at double-digit CAGR. In terms of value, the market is current securing value over US$ 3.0 Bn and is estimated to expand at staggering double-digit CAGR throughout the assessment period.
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Functional Food and Beverage Segment to Procure Half Revenue Share
According to the report, more than two-fifth production of dietary fibres was utilized for the production of functional food and beverages in the year 2016. This segment is estimated to secure valuation over US$ 1 Bn by 2017-end and is projected to reach valuation nearly US$ 6 Bn, riding on 16.7% CAGR throughout the assessment period. The food and beverages is likely to be the widest application segment of dietary fibres, which will be followed by pharmaceuticals by the end of 2026. According to the report, the functional food and beverage segment is anticipated to retain its dominance over the assessment period with nearly half revenue share by the end of 2026. The functional food and beverage food segment is projected to generate an incremental opportunity of over US$ 400 Mn in Latin America during the forecast period.
The report forecasts that more than half of global dietary fibres will be produced from grains and cereals throughout the assessment period. Likewise, the global sales of insoluble dietary fibres is estimated to secure more than two-third revenue of the market through 2026.
Factors Influencing Growth of Dietary Fibres Market
People are always in the search of healthy and nutritious food products that are full of beneficial ingredients such as dietary fibres. This is considered as the key driving factor for the growth of the market. Moreover, rising demand for fitness supplements and pharmaceuticals enhanced with dietary fibres is also anticipated to fuel the dietary fibres sales globally.
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The US and Canada is likely to remain most lucrative regions, securing over one-fourth of global sales of dietary fibres throughout the assessment period.
Several market players based in North America such as J. Rettenmaier & Söhne GmbH & Co. KG (Minneapolis), Cargill Incorporated, Ingredion Incorporated, International Fiber Corporation, E.I. du Pont de Nemours and Company (Wilmington), Archer Daniels Midland Company and Grain Processing Corporation are known as key companies that are majorly contributing to the growth of dietary fibres market in North America. In addition, Europe is also anticipated to remain at the forefront of the growth of dietary fibres market. Suedzucker AG Company, Roquette Freres SA, and Tate & Lyle PLC. are several leading market players that are likely to actively participated in the expansion of European dietary fibre market throughout the assessment period.
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