The market research report “Dietary Fiber Market by Product Type (Conventional/ Novel & Soluble/ Insoluble) and Application (Food & Pharmaceuticals) - Global Trends & Forecasts to 2019” is published by MarketsandMarkets. According to this report, the dietary fiber market is estimated to grow from $2272.4 million in 2013 to $4,210.0 million by 2019 with a CAGR of 13.1% through 2019. North America led the global market followed by Europe and Asia-Pacific in terms of revenue in the year 2013.
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Dietary fibers is a dynamic sector in the food and pharmaceutical industry with various stake holders such as raw material producers, suppliers, processors, distributors, and end-user industries such as manufacturers of functional foods, diary, bakery & confectionery, beverage, meat products, and pharmaceuticals. As opportunities to grow in these end-use markets are immense, players are competing to launch innovative products and diversifying their product and business portfolio. The shift in end-user tastes and preferences in terms of new product developments, new types of products or industry growth will directly affect the dietary fiber market. The rise in the consumption of functional foods offers a strong customer base for the dietary fiber market.
Conventional insoluble fibers in demand
As of now, conventional dietary fibers, especially the insoluble variants, have been the key ingredients and source of fiber to the consumers. However, with the availability, technical constraints, and the need for specific functionalities of fibers, conventional fibers have seen a considerable competition from the novel fibers. Conventional fibers have also traditionally focused on insoluble variants or a naturally-occurring mixture of insoluble and soluble fibers. Hence, the market share has always been dominated by insoluble variants.
North America: Significant market share holder and driver
North America has the highest market share and is estimated to grow with a swift CAGR during the period under review. Europe is growing at a modest rate, and is driven mainly by the East European countries. Asia-Pacific is expected to grow at the highest CAGR. ROW is also expected to experience growth in the dietary fiber market in the near future. Asia-Pacific is projected to exhibit rapid growth during the period under review. The four most potential nations for dietary fibers are India, China, Brazil, and Argentina, which are poised to exhibit the fastest-growing trend for dietary fiber consumption.
Functional Foods: Biggest market by application; pharmaceutical supplements exhibit the fast growth
In food applications, the functional food segment is estimated to be the largest market in 2014. Growing awareness, higher disposable incomes, and changing lifestyles drive the market for end-use applications ramping up the demand for dietary fibers. In the dietary fiber pharmaceutical market, supplements are the fastest-growing market during the forecasted period. Due to the increased awareness about the health benefits provided by dietary fibers, and increasing health consciousness, the pharmaceutical supplements industry is exhibiting strong gains.
The report also studies various other important aspects pertaining to the market such as Porter’s analysis, competitive landscape, SWOT, and supply chain. In addition, 10 key players of this market have also been profiled.
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