NEWARK, Del, Nov. 27, 2023 (GLOBE NEWSWIRE) -- The global inulin market value is projected to increase from US$ 1,678.9 million in 2023 to US$ 2,345 million by 2033. Over the forecast period, inulin demand is expected to rise at a CAGR of 3.4%.
Growing inclination toward functional and low-calorie foods is the prominent factor expected to drive the commercial market for inulin. Similarly, rising demand for plant-based probiotic products will foster market growth.
Another key factor expected to fuel sales of inulin is the growing use of dietary supplements and nutraceuticals by the aging population in several countries. Thanks to its multiple health benefits, inulin is widely used in food & beverage products and dietary supplements.
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Consumers' growing health consciousness is causing a spike in the nutraceutical market, which can increase the need for inulin. Dietary fibres like inulin can help lower cholesterol, diabetes, and obesity. As a result, they are widely used in nutraceutical products.
The increasing use of prebiotic ingredients like inulin in the dairy sector is projected to boost the inulin market through 2033. Subsequently, growing demand for food and beverage items high in fibre and prebiotics is anticipated to create growth prospects for inulin producers.
The need for healthful food is increasing rapidly due to aging population and high prevalence of digestive diseases, including discomfort, cramps, constipation, and bloating. This will positively impact inulin sales through 2033.
As a natural sugar substitute, inulin has grown in popularity since it allows manufacturers to identify their goods with higher fibre content. To preserve their market dominance, key players in the worldwide inulin market are concentrating on introducing cutting-edge goods and growing their manufacturing facilities.
Key Takeaways from the Inulin Market Study Report:
- The global inulin market is expected to total US$ 2,345 million in 2033.
- Based on source, chicory segment is estimated to hold a market share of 32% in 2023.
- By application, food and beverage segment is set to account for 56% of revenue share in 2033.
- In 2022, the United States held 80% share of the North America market.
- The United Kingdom is expected to register a CAGR of 6.5% through 2033.
- Demand in China is expected to rise at a CAGR of 5.8% from 2023 to 2033.
- India will likely advance at a CAGR of 6.2% between 2023 and 2033.
“Rising emphasis on agriculture-based nations to diversify their economies has encouraged farmers to shift their focus toward the production of commercial crops. So, a notable rise in the supply of chicory, leek, asparagus, and Jerusalem artichoke could positively impact the market during the forecast period.” Says Nandini Roy Choudhury, Client Partner at Future Market Insights
Competitive Landscape:
The overall market is highly consolidated, as only some inulin producers have been able to market their products successfully in different regional markets. The potential of inulin as a drug delivery system could make inroads for the entry of pharmaceutical companies and diversify the market in the coming days.
The demand for soluble inulin fiber is expected to rise due to shifting consumer tastes and an increase in the customer demand for vegan food items. The growing need for organic ingredients is another factor that is predicted to alter the market orientation of most players involved in the inulin business.
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Recent developments in the Inulin Producing Industries
- In March 2022, Sensus declared that it would increase the amount of inulin it produces from chicory root fibers at its original plant.
- In December 2022, The functional ingredient supplier Beneo Inc. invested around US$ 33.9 million to increase its production capacity.
Key Companies Profiled:
- Archer Daniels Midland Co.
- S Cargill Incorporated
- Sudzucker Group
- Ingredion Incorporated or TIC Gums
- Tate & Lyle PLC
- Dow DuPont
- FMC Corporation
- Koninklijke DSM N.V.
- PMV Nutrient Products PVT Ltd.
- Qingdao Oriental Tongxiang International Trading Co. Ltd.
- Sensus B.V.
- Steviva Brands, Inc.
- Tereos S.A.
- The IIDEA Company
- TrooFoods Ltd.
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Future Market Insights (FMI), in its new offering, provides an unbiased analysis of the global inulin market, presenting historical demand data (2018 to 2022) and forecast statistics for the period from 2023 to 2033.
The study incorporates compelling insights on the inulin market based on source (leeks, asparagus, onion, wheat, garlic, chicory, oats, soybean, jerusalem artichokes, banana, other sources [fruits, etc.]), application (food and beverages [functional food, dairy products, infant formula, breakfast cereal and cereal bars, meat products, beverages, other food and beverages] dietary supplements [weight loss, sports nutrition, general well-being, immune and digestive health, bone and joint health, heart health, other specific requirements] animal feed additives [poultry, swine, cattle, other animals] pet food, aquafeed, other applications), form (powder form, liquid form), function type (bifdus promoting agent, fiber enhancer, sugar alternative, fat alternative or replacer, other functions), sales channels (direct sales channels, indirect sales channels [modern trade channels, specialty stores, franchise or brand outlets, online retailers, other indirect sales]) region (North America, Latin America, Europe , East Asia , South Asia and Pacific , Middle East and Africa)
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Inulin Market Outlook by Category:
By Source Type:
- Leeks
- Asparagus
- Onion
- Wheat
- Garlic
- Chicory
- Oats
- Soybean
- Jerusalem Artichokes
- Banana
- Other Sources (Fruits, etc.)
By Application:
- Food and Beverages
- Functional Food
- Dairy Products
- Infant Formula
- Breakfast Cereal and Cereal Bars
- Meat Products
- Beverages
- Other Food and Beverages
- Dietary Supplements
- Weight Loss
- Sports Nutrition
- General Well-being
- Immune and Digestive Health
- Bone and Joint Health
- Heart Health
- Other Specific Requirements
- Animal Feed Additives
- Poultry
- Swine
- Cattle
- Other Animals
- Pet Food
- Aquafeed
- Other Applications
By Form:
- Powder Form
- Liquid Form
By Function Type:
- Bifdus Promoting Agent
- Fiber Enhancer
- Sugar Alternative
- Fat Alternative or Replacer
- Other Functions
By Sales Channels:
- Direct Sales Channels
- Indirect Sales Channels
- Modern Trade Channels
- Specialty Stores
- Franchise or Brand Outlets
- Online Retailers
- Other Indirect Sales
By Region:
- North America Market
- Latin America Market
- Europe Market
- East Asia Market
- South Asia and Pacific Market
- Middle East and Africa (MEA) Market
Authored by:
Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.) has 7+ years of management consulting experience. She advises industry leaders and explores off-the-eye opportunities and challenges. She puts processes and operating models in place to support their business objectives.
She has exceptional analytical skills and often brings thought leadership to the table.
Nandini has vast functional expertise in key niches, including but not limited to food ingredients, nutrition & health solutions, animal nutrition, and marine nutrients. She is also well-versed in the pharmaceuticals, biotechnology, retail, and chemical sectors, where she advises market participants to develop methodologies and strategies that deliver results.
Her core expertise lies in corporate growth strategy, sales and marketing effectiveness, acquisitions and post-merger integration and cost reduction. Nandini has an MBA in Finance from MIT School of Business. She also holds a Bachelor’s Degree in Electrical Engineering from Nagpur University, India.
Nandini has authored several publications, and quoted in journals including Beverage Industry, Bloomberg, and Wine Industry Advisor.
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