Rockville, MD -- (SBWire) -- 12/21/2018 --With the increasing growth of the food & beverage industry, innovation is becoming an influential trend among food manufacturers across the world. Manufacturers in the F&B space are aiming to make available health-benefitting food products without compromising on their sensory attributes, by using innovative and functional food ingredients such as citrus fiber.
Fact.MR recently conducted thorough research on growth prospects of the citrus fiber market to find that the citrus fiber market will witness a healthy 4.1% volume y-o-y over 2017 to surpass sales of over 61 thousand tons of citrus fiber by 2018 end. The Fact.MR study remains bullish on the positive growth prospects of the citrus fiber market as its burgeoning applications as a functional ingredient in the food industry are creating lucrative sales opportunities.
The Fact.MR report sheds light on all the macro and microeconomic factors that are instrumental in shaping the citrus fiber market. It is a comprehensive presentation of all the important market dynamics explained in terms of qualitative as well as quantitative parameters.
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Developed Regions Present the Most Lucrative Growth Opportunities; North American and Europe Lead the Rally
Leading manufacturers in the food & beverage industry in developed regions are concentrating their efforts on enhancing functional properties of food products to meet the changing consumer demands. The Fact.MR study predicts that the citrus fiber market in developed countries is generating lucrative sales opportunities as manufacturers are aiming to differentiate their product lines with the use of citrus fiber, and gain a competitive edge in the market.
Apart from the rapidly-evolving food & beverage industry, the regulatory framework in developed regions, including North America and the European Union, provides an impetus to growth of the citrus fiber market. The United States Food & Drug Administration (FDA) recently modified the regulatory definition of dietary fibers, and announced that dietary fibers can be featured on the Nutrition and Supplement Facts labels of food products. Also, in the new regulatory definition of dietary fibers, FDA declared the approval of labeling citrus fiber as a non-digestible carbohydrates. This is expected to augur well for the growth of the citrus fiber market in the North American region.
Furthermore, the incremental growth of the citrus fiber market in the European Union is mainly attributed to growing awareness about health benefits of consuming dietary fibers in prevention of various diseases. According to the statistics declared in the most recent Global Burden of Disease study (GBD) 2017, low-fiber diets caused over 1.44 million Disability Adjusted Life Years (DALYs) and 97,000 deaths in the EU. Consumers are becoming aware of the importance of inclusion of dietary fibers in everyday meals, which is complementing growth of the citrus fiber market in the leading European countries.
The Fact.MR study elucidates the most important market dynamics to justify the incremental developments in citrus fiber markets in developed regions. The study opines that the North America and Europe will account for nearly 60% sales volume of the total sales in the citrus fiber market by 2018.
Citrus Fiber Market: Water-binder and Fat Replacer Applications Account for Nearly 2x Sales than Other Applications
With the discovery of functional characteristics of citrus fiber that can improve texture, taste, and flavor of food products, the citrus fiber market has expanded at a rapid pace in the past few years. The Fact.MR study predicts that sales of citrus fiber owing to its water-binding quality and applications as a fat replacement ingredient will be 2x higher sales than that due to any other applications of citrus fibers, such as thickening gum and gelling gums.
The citrus fiber market is gaining momentum with the increasing applications of citrus fiber as a novel fat replacer in a variety of food products, including bakery products, meat products, and desserts. With the use of citrus fiber as a water-binding agent and fat replacer, bakery product manufacturers are eliminating the needs for using oil and eggs, which ultimately reduces the manufacturing costs. This is complementing growth of the citrus fiber market.
Furthermore, increasing drive for low-fat and low-calorie food products among health-conscious consumers is bolstering the adoption of citrus fiber in a wide-range of food products. In order to be in sync with the consumer demand for healthy and low-fat food and minimizing the production cost, a majority of end-users are increasing the use of citrus fiber as a functional food ingredient.
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Taking into account the increasing popularity of citrus fiber as a function ingredient, leading manufacturers in the citrus fiber market are adopting advanced manufacturing processes to further enhance its quality attributes. By enhancing the performance characteristics of citrus fiber as a water-binding agent and a fat replacer, citrus fiber market players are aiming to capitalize on lucrative sales opportunities in the upcoming years.
Fact.MR study covers various aspects of growth of the citrus fiber market, which can help new entrants in the citrus fiber market to make appropriate decisions in the future. The study provides a holistic assessment of critical market dynamics that define growth prospects of the citrus fiber market during the assessment period 2018-2028. According the study, the citrus fiber market is likely to grow at an incremental 4% volume CAGR through 2028.
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Citrus Fiber Market to Exceed Sales of 61,000 Tons of Citrus Fiber; Developed Regions Gobble a Significant Share
Fact.MR has announced the addition of the “Citrus Fiber Market Forecast, Trend Analysis & Competition Tracking - Global Market Insights 2018 to 2028"report to their offering.