Redding, California, June 29, 2022 (GLOBE NEWSWIRE) -- According to a new market research report titled, ‘Soluble Dietary Fibers Market by Source (Fruit & Vegetable, Cereals & Grains), Type (Inulin, Pectin, Beta-Glucan, Maltodextrin, Oligofructose), and Application (pharmaceuticals, animal feed), and Geography—Forecast to 2029‘, the soluble dietary fibers market is expected to record a CAGR of 7.8% from 2022–2029 to reach $4.99 billion by 2029.
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The consumption of pharmaceuticals is increasing worldwide, both in terms of expenditure and volume or quantity of drugs consumed. This growth is attributed to the growing aging population, various chronic diseases, and technological developments. The advances in the pharmaceutical industry have significantly improved product quality and population health, contributing to the increased real health expenditure in most industrialized countries. For decades, soluble dietary fiber has played an important role as an active ingredient and excipient in pharmaceutical formulations. They are used in the pharmaceutical industry due to their flexible functionalities in reducing cholesterol, blood glucose, and insulin levels to reduce the risk of heart disease and diabetes.
Furthermore, consumers around the globe are seeking good quality edible food products for their farm animals. Dietary fibers have positive effects on the gut health, welfare, and reproductive performance of animals and are used in animal feed by feed manufacturers, fueling the demand for soluble dietary fibers across the globe. Additionally, for optimum production, the cost of production is also a major concern in the animal feed industry due to the increasing price of corn and oil. For instance, owing to the rising prices of corn and oil, the poultry industry is increasing the use of available feed ingredients high in dietary fiber to reduce production costs.
The Impact of COVID-19 on the Soluble Dietary Fibers Market
Measures to combat the spread of the virus have aggravated the situation and affected the growth of several industrial sectors. Nationwide lockdowns in some regions have impacted the transportation of raw materials from suppliers. The temporary closures of manufacturing bases due to indefinite lockdowns and temporary quarantines impacted the growth of the soluble dietary fibers market during the pandemic. Furthermore, the pandemic has significantly impacted the food and beverage industry, further affecting this market's growth.
However, as much as the COVID-19 pandemic has affected the supply chain, it has shifted consumers toward nutritional food products, triggering them to examine their health. This has amplified consumers’ search for healthy products and functional foods that might help them improve their health. For instance, the pandemic has created growth opportunities for the soluble dietary fiber market with the growing inclination toward organic, natural, and clean label products, along with a strong focus on gut health and sugar replacements. Soluble dietary fibers are widely used in a variety of products, including dietary supplements, animal feed, and pharmaceuticals. Products containing soluble dietary fibers are also used to improve muscle mass and immunity, leading to high demand for soluble dietary fiber products in the market.
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Furthermore, a Gut Microbes article suggests that the high fiber diet could help control the inflammatory response associated with the COVID-19, subsequently driving the demand for soluble dietary fibers in the market.
Key Findings in the Global Soluble Dietary Fibers Market Study
The global soluble dietary fibers market is segmented by source (fruit & vegetables, cereals & grains, nuts & seeds, and others), type (inulin, pectin, beta-glucan, polydextrose, maltodextrin, oligofructose, arabinoxylan-oligosaccharides, and others), and application (functional foods & beverages, pharmaceuticals, animal feed, and others) and geography. The study also evaluates industry competitors and analyzes the regional and country-level markets.
Based on source, the fruit & vegetable segment is projected to grow at the highest CAGR during the forecast period. The growth of this segment is attributed to the factors such as the increasing chronic diseases; use of fibers extracted from fruit and vegetable in the treatment of digestive health, cardiovascular health, healthy blood glucose levels, satiety, and weight management; and high content of soluble dietary fiber such as inulin, pectin, and beta-glucan in fruit & vegetables as compared to other crops. Furthermore, the growing consumption of healthy and functional food products is projected to drive the market over the next few years.
Based on type, in 2022, the inulin segment is estimated to account for the largest share of the soluble dietary fibers market. However, the beta-glucan segment is projected to register the highest CAGR during the forecast period. The fast growth of this segment is attributed to increasing soluble dietary fiber applications in various industries due to its versatile functionality and the presence of no specific recommendation about the intake of beta-glucan. It is used in various foods and beverages, including cereals, baked goods, soups, sauces, salad dressings, dips, smoothies, fruit juices, and sports drinks, driving the growth of this segment.
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Based on application, in 2022, the food & beverage segment is expected to command the largest share of the soluble dietary fibers market. The large share of this segment is attributed to the factors such as the growing use of soluble dietary fibers in food and beverage products used as stabilizers, texturizers, and low-calorie sweeteners, increasing demand for sugar-free and low-calorie food, and increasing health consciousness among consumers leading to their changing eating habits. Moreover, in response to this increased demand, several food manufacturers have introduced various new and reformulated products. For instance, major companies, including Ingredion Inc. and Cargill, Inc., continue investing in research & development activities to introduce innovative products in the soluble dietary fibers industry space, driving the demand for soluble dietary fibers in the food industry.
However, the animal feed segment is projected to register the highest CAGR during the forecast period. The rapid growth of this segment is attributed to factors such as its efficiency in reducing side effects & minimize cost and increasing preference for oral dosages over injected routes. Furthermore, increased awareness of the beneficial effects of soluble dietary fibers on animal health, advances in canine and feline nutrition, and the growing animal feed industry are expected to boost the demand for soluble dietary fibers in the market.
Based on geography, in 2022, the North American region is expected to command the largest share of the soluble dietary fibers market. However, Asia-Pacific is expected to grow with the fastest CAGR during the forecast period. The fast growth of the Asia-Pacific market is attributed to the factors such as increasing awareness about a healthy diet; the booming food & beverage industry in the countries such as China, India, Japan, and Indonesia; and rising health awareness among people coupled with the increasing number of fitness clubs in Asia-Pacific countries.
Some of the key players operating in the global soluble dietary fibers Market are The Archer-Daniels-Midland Company (U.S.), Chr. Hasen Holding A/S (Denmark), Lallemand Inc. (Canada), Dupont de Nemours, Inc. (U.S.), Evonik Industries AG (Germany), Koninklijke DSM N.V. (Netherlands), Orffa International Holding B.V. (Netherlands), Novozymes A/S (Denmark), Kemin Industries (U.S.), and Provita Eurotech Ltd (U.K.), among others.
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Scope of the Report:
Soluble Dietary Fibers Market, by Source
- Fruit & Vegetables
- Cereals & Grains
- Nuts & Seeds
- Others
Soluble Dietary Fibers Market, by Type
- Inulin
- Pectin
- Beta-Glucan
- Polydextrose
- Maltodextrin
- Oligofructose
- Arabinoxylan-Oligosaccharides (AXOS)
- Others
Soluble Dietary Fibers Market, by Application
- Functional Foods & Beverages
- Pharmaceuticals
- Animal Feed
- Others
Soluble Dietary Fibers Market, by Geography
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Rest of Europe
- Asia-Pacific (APAC)
- China
- Japan
- India
- Australia
- Rest of APAC (RoAPAC)
- Latin America
- Middle East & Africa
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