Global Market Study on Food Fiber: North America to Dominate the Global Market in Terms of Revenue
New York, NY -- (SBWIRE) -- 04/16/2018 -- Some of the prominent players operating in the global food fiber market are J. RETTENMAIER & SÖHNE GmbH, Co KG, Kerry Group, Grain Processing Corporation, Nexira, SunOpta, Inc., Ingredion Roquette Frères S.A., Archer-Daniels-Midland Company, Tate & Lyle plc, and Cargill, Inc., notes Persistence Market Research (PMR). Several of these players are investing on advanced fiber fortification technologies for developing innovative formulations that have a variety of functional health benefits, in order to gain a competitive edge over others, observes PMR. A number of key companies are also focusing on product expansion strategy to consolidate their shares during the forecast period.
According to PMR, the global food fiber market is forecast to expand at a CAGR of 5.7% from 2017 to 2025. The market is projected to reach a valuation of US$6 Bn by the end of the forecast period.
Burgeoning Application of Food Fiber in Bakery & Confectionery Products to Boost Market : Food fibers have various applications in bakery and confectionery, dairy, functional foods, beverages, and meat products. Of these, the bakery and confectionery segment holds a substantial share and is expected to lead the global market by the end of 2022. The segment is predicted to rise at the leading CAGR during the assessment period, fueled by rapid expansion of its sales. The wide applications is primarily attributed to the substantial demand for healthy baking, along with enhancing volume and sensory quality of the bakery products.
The various regional markets for food fiber comprise North America, the Middle East and Africa, Asia Pacific excluding Japan (APEJ), Japan, Europe, and Latin America. Of these, North America is anticipated to lead the pack throughout the forecast period. The regional market is anticipated to emerge as the most attractive market, driven by wide consumption of soluble and insoluble fibers in various food applications.
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Substantial Functional Benefits of Food Fiber in Combating Diseases to Bolster Uptake : The burgeoning demand for food fiber world over is driven by primarily by the recognition of a variety of functional and health benefits, especially on improving gastrointestinal health. The growing awareness about the vast purported benefits of both soluble and insoluble fiber in combating heart ailments and diabetes, mainly by lowering blood cholesterol and glucose levels, is a key factor stoking their demand. The changing lifestyle in various populations, markedly inclined toward processed food, has led to the inclination toward a high-fiber diet regime for warding off numerous lifestyle health problems and conditions notably duodenal ulcers, hemorrhoids, and colorectal cancer. This is a prominent trend expected to boost the global market. In addition, the rising demand for high-fiber baked products in several developed and emerging economies is also anticipated to boost the market.
The growing demand for food fiber in controlling body weight and improve insulin sensitivity is accentuating the market in various developing and developed regions. The use of naturally-sourced fiber and the use of innovative ingredients in fiber fortification is a significant development expected to catalyze the growth of the market. The prominently growing sales of insulin-based food fiber is a key trend expected to create promising avenues for market players during the forecast period. Furthermore, the advent of clean label to get a better insight into ingredient lists is a notable development getting traction with consumers in numerous developing and developed countries.
The development of formulations that offer additional digestive benefits using different fermentation methods has bolstered the popularity of food fiber in consumer diets. The advent of food products that not only provide a combination of soluble and insoluble fibers but also desirable sensory properties is a key factor fueling the growth of the market.
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The study presented here is based on a report by Persistence Market Research (PMR) titled "Food Fiber Market – (Product Type - Oat Fiber, Polydextrose, Wheat Fiber, Vegetable Fiber, Soluble Corn, and Inulin; Application - Bakery & Confectionery, Dairy, Functional Foods, Beverages, and Meat Products) - Global Industry Analysis (2012-2016) and Forecast (2017-2022)."