Fibers And Specialty Carbohydrates Market Analysis By Application (Functional Food, Functional Beverage, Dietary Supplements, Animal Nutrition, Personal Care) And Segment Forecasts To 2024

Industry Insights

The global fibers & specialty carbohydrates market size was over 1 million tons in 2015. The increasing popularity of nutritional enrichment in the food & beverage sector in light of growing awareness towards a healthy lifestyle is likely to expand the industry size over the forecast period.

Fibers are indigestible substances, which remain unaffected during digestion as well as absorption in the human small intestine, with partial or complete fermentation in the large intestine of a human body. On the other hand, specialty carbohydrates refer to the nutraceuticals derived from prebiotics as well probiotics products.

UK fibers & specialty carbohydrates market volume, by application, 2013 - 2024 (Kilo Tons)

Over the past few years, food & beverage manufacturers have increased expenditure for the incorporation of nutraceutical ingredients to enhance the nutritional content of the final product. Furthermore, companies including Danone, Kellogg, and Cadbury are increasing their spending to launch new functional foods and beverages. Aforementioned favorable trends are expected to play a crucial role in promoting the role of dietary fibers as well as specialty carbohydrates in the upcoming years.

Increasing market size for sports nutrition powder & drinks in developing countries including China, India, Mexico and South Africa owing to the implementation of new advertising campaigns for brand promotions by companies including Pfizer is likely to drive the market growth over the forecast period.

Increasing demand for new products including phytochemicals and carotenoids as nutraceutical ingredients owing to exhibiting superior properties including excellent anti-oxidation is projected to hamper the market for fibers as well as specialty carbohydrates. However, easy access to raw materials along with a positive outlook towards the functional foods sector in China is expected to force industry participants to establish their strategic business units in the vicinity over the next eight years.

Application Insights

Demand for fibers & specialty carbohydrates were highest in dietary supplements accounting for 37.1% of total volume in 2015. Rising importance of health & wellness among consumers in developing countries including China, Mexico, and the Middle East countries on account of increasing prevalence of gymnasiums and fitness centers is expected to upscale the requirement of dietary supplements.

Rising demand for medical supplements for preventing as well as treating individuals from malnutrition, cardiovascular diseases, and gastrointestinal disorders is expected to increase dietary supplements sales over the forecast period. Aforementioned favorable trends towards dietary supplements market are projected to fuel the demand for dietary fibers and specialty carbohydrates over the forecast period.

Functional beverages are likely to foresee volume growth at a CAGR of 6.5% from 2016 to 2024, in light of new product launches in segments including hydration drinks, rejuvenation liquids, and weight management syrups. Furthermore, rising awareness towards calorie reduction on account of increasing concerns over obesity and cardiovascular diseases is expected to upscale the requirement of functional beverage and in turn, will fuel fibers demand in the upcoming years.

Fibers & specialty carbohydrates demand in animal nutrition was 142.6 kilotons in 2015 and is expected to witness growth in light of increasing concerns over diseases association with cattle and swine species in the feed sector.

Regional Insights

North America accounted for 33.9% of the total fibers & specialty carbohydrates volume in 2015. High adoption rates for dietary fibers in the food & beverage sector in the U.S. and Canada on account of easy access to technology is likely to remain a favorable factor. Furthermore, the emergence of Mexico as a manufacturing base for functional food items on account of rising domestic consumption and easy access to raw materials including chicory roots is likely to open new market avenues over the forecast period

Asia Pacific is expected to be the fastest growing market in terms of volume at a CAGR of 8.8% from 2016 to 2024. Changing lifestyle, population growth, and rising disposable income in China and India is expected to increase the demand for fibers as well as specialty carbohydrates over the next eight years. Active participation in sports by countries including Korea and India is anticipated to propel the growth of the market over the forecast period.

Competitive Insights

Key fibers & specialty carbohydrates manufacturers include Tate & Lyle Plc, ADM, Cargill Incorporated. Du Pont, DSM, Ingredion Incorporated, Roquette Freres, Südzucker AG Company. Product innovation and formation of strategic partnerships with distribution channels are expected to remain critical success factors over the forecast period.