Inulin Market - Analysis of Growth, Trends, and Progress (2018 - 2023)
Inulin Market Insights
The global inulin market is forecasted to register a CAGR of 6.5%, and reach a value of USD 1.5 billion, by 2023.
The gaining popularity of prebiotic ingredients and rising awareness towards low fat and calorie reduction is expected to fuel inulin market demand during the next five years. Also, U.S. FDA has recognized inulin as generally (recognized as safe) GRAS product, which is expected to have a positive impact on the market. Demand is majorly from the dairy industry where it is used for formulations in cheese, ice creams, and yogurts. The growing importance of low caloric sugar in food & beverages industry is likely to drive demand. Stable inulin market price is expected to aid application development and penetration. The abundance of raw material in the form of chicory root in Europe and China is likely to ensure continuous supply at stable rates and avoid market volatility. The growing infant formula market demand in China and India coupled with capacity expansion by baby food manufacturers, such as Danone and Nestle is expected to positively impact the market.
Inulin Market Dynamics
Rising use of alternative probiotic and prebiotic ingredients, such as GOS and MOS is likely to restraint the growth of the industry. Excessive consumption of inulin is allergenic and discomfort in the digestive system and this negative aspect may restraint its increasing demand in future.
Inulin Market Segmentation
Functional food & beverage was the largest segment and accounted for more than 60% of the total volume in 2017. Food & beverages are likely to dominate during the forecast period owing to increasing functional ingredients demand used for sugar level reduction and enhancing gut health function. Dietary supplement is likely to grow at a steady rate during the forecast period. Inulin helps to stimulate the bacterial growth, which helps in maintaining the calorie level. This factor is expected to promote the usage of inulin in dietary supplement fortification.
Inulin Market Regional Analysis
Europe inulin market size was estimated to be over 125-kilo tons in 2015 and is expected to witness moderate gains during the forecast period. Europe dominated the market. Europe has favorable regulatory policies for incorporating functional ingredients as well. Sluggish food & beverages industries growth in countries, such as Germany, Spain, and Italy coupled with restriction in inulin production capacity by EU Commission is likely to affect overall profitability in the region. Asia-Pacific is likely to witness highest gains of above 10.2% from 2018 to 2023. Asia-Pacific is the fastest growing region, owing to the growth of end-use industries, such as food & beverages, pharmaceuticals, and dietary supplements. China and India inulin market expected to benefit from government policies favoring FDI. North America is likely to grow at a steady rate owing to food and pharmaceuticals application growth in U.S. South America is likely to witness significant gains due to increasing consumption of dairy products in Brazil.
Key Developments in the Inulin Market
Nestle and Danone, the baby food manufacturers, have announced an increase in production capacity in India and China, which is expected to have a positive influence on the demand of inulin.
The Indian government had announced subsidy to chicory farming in India at the state level. This initiative is likely to boost chicory roots production in India and ensure stable raw material supply in the region.
Inulin Market Competitive Landscape
The major players in global inulin market include Cargill Incorporated, Beneo-Orafti SA, CosucraGroupeWarcoing SA, Jarrow Formulas, Shandong Baolingbao Biotechnology Co. Ltd, SensusB.V, Fenchem, Inc, The Tierra Group, Ciranda, Inc, Wuxi Cima Science Co. Ltd. Innovation, and R&D.
Reasons to Purchase the Inulin Market Report
Analyzing outlook of the market with the recent trends and Porter’s five forces analysis
Market dynamics, which essentially consider the factors that 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-month analyst support, along with the Market Estimates sheet (in excel)
Customization of the Inulin Market Report
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