Global insoluble dietary fiber market is expected to witness growth over the forecast period owing to increasing functional foods demand coupled with growing health & nutrition consciousness amongst the consumers. Growing occurrence of several health problems including coronary heart disorder, obesity, gastro-intestinal issues, cholesterol, and diabetes are anticipated to increase insoluble dietary fibers market demand over the forecast period. However, the emerging market for synthetic dietary fiber supplements is anticipated to hamper the market growth. R&D by major industry participants for use of insoluble dietary fiber in treating obesity, diabetes, digestive problems, cardiovascular problem, and high cholesterol are poised to create growth opportunities in the next six years. In addition, favorable government regulations and technological developments supporting insoluble dietary fiber is poised to augment the market demand. Significant growth in dietetic population coupled with improving living standards and rising health awareness are anticipated to create additional market opportunities over the forecast period.
Asia Pacific region is projected to be the fastest growing market for insoluble dietary fibers during the forecast period owing to changing lifestyles and increasing demand for functional foods. In addition, increasing R&D investments by major participants in emerging economies of Latin America, Africa, and Southeast Asia are further expected to fuel the market growth. Europe and North America are anticipated to follow Asia Pacific on account of increasing demand for health and dietary supplements. Strategic mergers, acquisitions and expansion of production capacities by leading market participants are expected to increase degree of industry rivalry and provide superior positioning in the market. Moreover, growing number of patents regarding grinding and production of insoluble dietary fibers by key participants in the past decade are likely to create a lucrative market scenario. End-use applications of insoluble dietary fiber applications include pharmaceuticals, feed and food industry.
Key players in insoluble dietary fibers market are ADM Company, Roquette Frères, Ingredion Incorporated, Cargill Inc., Vivastar, Sunopta, Inc., Südzucker Ag, Grain Processing Corporation, DuPont, J. Rettenmaier & Söhne Gmbh & Co. Kg and Company, Tate & Lyle PLC, Vitacel, Litesse and Cenergy.
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The demand for nutraceuticals & functional foods is expected to witness an upward surge owing to consumers opting for immunity boosting supplements during the COVID-19 pandemic. Furthermore, a decline in the consumption of poultry, meat and seafood products across the globe is expected to increase the demand for plant and animal-based protein supplements in the near future. The report will account for Covid19 as a key market contributor.