Rise in demand for functional foods is paving the way for growth for global insoluble fibre market. It will not be wrong to say that this is an outcome of increased levels of awareness regarding health and nutrition among people across the globe.
Thus, it comes as no surprise that the global insoluble fibre market growth is set to chart a steady growth over the period 2019 to 2027. The decent CAGR (Compound Annual Growth Rate) will translate into high growth opportunities and increased market worth.
It is pertinent to note here that rise in incidence of obesity, constipation and other gastro-intestinal issues, are also leading to growth in the insoluble fibre market.
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Certain developments happening in the market place are transforming the landscape. Some of these are outlined below.
- CP Kelco is extending investment towards expansion of production capacity and capabilities. The aim is to promote key products, especially in the United States and China and Denmark region. This would lead to players clamor for top place in the face of increased competition thus created.
- GPC came up with tapioca-based MALTRIN ® products to grasp the European market share firmly. In furtherance to the company’s efforts towards holding a dominant position in the market, it got Non-GMO Project Verification for Washington, Indiana’s production facility for maltodextrin and corn syrup solids.
The global insoluble fiber market is consolidated with a large chunk of about 55% of market share held by a handful of players. Key names in the global insoluble fibre market are Ingredion Incorporated Chr. Hansen Holding A/, Unipektin Ingredients AG, NEXIRA, SunOpta, Inc., CP KELCO, E. I. du Pont de Nemours and Company, Tate & Lyle PLC, Cargill Incorporated, and Grain Processing Corporation, among others.
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The global insoluble fibre market is on an upward trajectory owing to various trends and drivers.
- Change in lifestyle is leading to a number of gastro-intestinal issues. Sun-standard meals in terms of nutrition and sedentary lifestyle are causing major health issues with population. For instance, incidence of Bowel Cancer is increasing and it is believed that around 45% of cases can be prevented by managing diets well and incorporating exercise in the schedule. Besides, issues like Diverticulitis and constipation, which are extremely common in regions like Europe and North America are all a result of poor diet and can be managed with insoluble diets. Thanks to rising awareness, there will be high demand for the fibres over the forecast period.
- Rise in geriatric population will also lead to growth in the market. It is believed that by 2050, one in six people will be aged 65 or over. This will contribute to the growth of the market in a big way. In North America and Europe, one in four would fall into the geriatric age bracket, leading to high generation of demand for the product. It might be pertinent to note here that in 2018, the world saw a dramatic demographic shift – people aged 65 and above surpassed the number of those aged five and below.
North America and Europe will hold dominant position owing to presence of a large number of prominent players and rising geriatric population. Plus, high levels of obesity and CVD will lead to demand for insoluble fibres.
Another region that will be worth setting eyes on is that of the Asia Pacific (APAC), which will create untapped opportunities for market players.