The global dietary fibers market is expected to reach USD 11.83 billion by 2025, according to a new report by Grand View Research, Inc. Growing functional food & beverage industries are expected to play major roles in the market over the next nine years.
Major sources of dietary fibers include whole grains such as brown rice, barley, and whole-wheat, vegetables such as broccoli, and fruits such as bananas and raspberries. Apart from these, lentils, nuts, apples, and mangoes are also known to have a high fiber content. Growing awareness about the importance of these foods in the daily diet is expected to further drive the market over the forecast period.
The market is expected to be driven by growing functional food & beverage industries. This was evident from the fact that the functional food industry grew at an annual rate of 2.4% from 2008 to 2009, while it grew at an annual rate of over 7% from 2012 to 2013.
U.S. dietary fibers market, by source, 2014 – 2025 (USD Million)
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- Whole grain products such as whole-wheat and brown rice dominated the source segment in 2015 as they have a high fiber content and exhibit several benefits including reduction of risk of heart diseases, asthma, and cancer, among others
- Insoluble fibers accounted for over 60% of the market by revenue in 2015 as these can be easily digested and excreted by the human body, without any complications
- The food segment is projected to witness the highest CAGR of over 14% in terms of value, from 2016 to 2025 due to growing demand for functional foods and nutraceuticals
- Asia Pacific held the largest revenue share of over 39% in 2015 with growing demand from countries such as China, India, Japan, and others
- The Central & South American region, with emerging industries in countries such as Brazil and Argentina, is projected to grow at the second-highest CAGR of over 13% in terms of revenue, from 2016 to 2025
- Some of the major manufacturers of dietary fibers include Cargill, Incorporated, Archer Daniels Midland Company, Lonza Group AG, Nexira, and Ingredion Incorporated, among others
- Most of these companies adopted expansions and investments as their major growth strategies from 2011 to 2016, in order to enter new untapped markets, consequently increasing their respective market shares
For more information: http://www.grandviewresearch.com