Global Insoluble Dietary Fibers Market - Growth, Trends, and Forecast (2018 - 2023)
The insoluble dietary fiber market was valued at USD 2.28 billion in 2016 and is projected to reach USD 3.94 billion by 2023, at a CAGR of 7.7%, during the forecast period of 2018 – 2023. Insoluble dietary fibers have multi-disciplinary uses, some of which include being employed as bulking agents in reduced-sugar applications, as an effective moisture manger in fat replacing, as a tool for incorporating texture, and as a natural antioxidant. They also have an extensive use as a bulking agent in the bakery industry, which accounts to 31.0% of the total market share
The sudden change in lifestyles, western influence, and considerable raise in the disposable income have created a demand for healthy food products in the developing countries. The European bakery industry witnessed a considerable demand for natural and healthy bakery products employing dietary fibers as well. Furthermore, a demand for fiber supplements in fulfilling nutritional requirements in the western countries acted as a driver for the global insoluble dietary fibers market. Technical difficulties pertaining to reactivity and stability of the product has been one of the major challenges faced by the industries employing dietary fibers. Additionally, delayed and inconsistent regulatory standards for approval are other constraints for the market. With effective scientific research, new insoluble fiber variants are being identified with superior qualities. With very limited production in the developing countries, the untapped market provides a prolific opportunity for investment in this sector.
The insoluble dietary fiber market has been segmented on the basis of type into bulking agent, fat replacer, texturing agent, and others. On the basis of product type, the market has been segmented into cellulose, hemi-cellulose, chitin & chitosan, lignin, resistant starch, and others. On the basis of application, the market has been segmented into bakery, beverages, confectionaries, meat, pasta & soups, and others. Lastly, on the basis of geography, the market has been segmented into North America, Europe, Asia-Pacific, South America, and Africa.
North America with a share of 38.0% holds is dominant in the global insoluble dietary fibers market. This can be accounted to the higher numbers of health conscious population in this region. Europe stands second in the market with the recent high demand for healthier bakery products. Asia-Pacific, with its huge demand for convenience foods and increased western influence, is expected to register a CAGR of 10.2%, during the given forecast period.
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