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Fibers and Specialty Carbohydrates Market Size to Grow at a CAGR of 6.11% During the Forecast Period 2020–2025

fibers and specialty carbohydrates market size to grow at a cagr of 6 11 during the forecast period 2020 2025
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Fibers and Specialty Carbohydrates Market size is valued at $ 4.21Bn by 2019 and is anticipated to grow at a CAGR of 6.11% during the forecast period 2020-2025. The Fibers and Specialty Carbohydrates Market growth rate is attributed to the rising consumption of food products with a high nutritional content including breakfast cereals and fortified bread owing to their growing use as a meal diet are set to be the major driving factor of Fibers and Specialty Carbohydrates industry. Fibers are indigestible substances, which remain unaffected during digestion as well as absorption in the human small intestine, with partial or complete fermentation in the large intestine of a human body. On the other hand, specialty carbohydrates refer to the nutraceuticals derived from prebiotics as well probiotics products. Rising consumption of food items containing a high level of nutrition content including breakfast cereals and fortified bread on account of their increasing use as a meal diet are poised to have a substantial impact on the market. Furthermore, increasing awareness towards nutritional advantage associated with fibers in food & beverage industry to Increasing demand for new health products coupled with extensive R&D by food product manufacturers is anticipated to propel the Fibers and Specialty Carbohydrates Market during the forecast period 2020-2025.

Application Type-Segment Analysis

Based on application, dietary supplements segment held the major share of the market in terms of revenue and is estimated to grow with a CAGR of 3.66%. The reason is set to be attributed by rising prevalence for medical supplements for preventing as well as treating individuals from malnutrition, cardiovascular diseases, and gastrointestinal disorders is set to increase dietary supplements sales over the forecast period 2020-2025. Aforementioned favorable trends towards dietary supplements market are projected to fuel the demand for dietary fibers and specialty carbohydrates over the forecast period 2020-2025. Furthermore, rising importance of health & wellness among consumers in developing countries including China, Mexico, and the Middle East countries on account of increasing prevalence of gymnasiums and fitness centers is poised to upscale the requirement of dietary supplements, which is anticipated to augment demand over the forecast period 2020-2025.
However, functional beverages are anticipated to foresee a significant CAGR in the forecast period of 2020-2025, considering new product launches in segments including hydration drinks, rejuvenation liquids, and weight management syrups. Increasing demand for new health products coupled with extensive R&D by food product manufacturers has led to the development of functional beverage products with rising awareness towards calorie reduction on account of increasing concerns over obesity and cardiovascular diseases is likely to propel the growth.

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By Geography – Segment Analysis

North America dominated the Fibers and Specialty Carbohydrates Market with a share of 39% in 2019. The application of Fibers and Specialty Carbohydrates has grown rapidly over the last few years owing to the High adoption rates for dietary fibers in the food & beverage sector in the U.S. and Canada on account of easy access to technology in the region. The U.S. fibers & specialty carbohydrates (nutraceuticals) market is driven by consumer awareness about Pro health food and high income level of majority of population. Canada and Mexico are developing markets with rising GDP in North America region. The rising GDP has been leading the rise middle-class income levels; these consumers are aware of fibers & specialty carbohydrates (nutraceuticals) food products Furthermore the emergence of Mexico as a manufacturing base for functional food items on account of rising domestic consumption and easy access to raw materials including chicory roots is likely to open new market avenues over the forecast period 2020-2025.
Asia Pacific is anticipated to witness robust growth over the forecast period 2020-2025, as Asia Pacific region has ample resources for dietary fiber and carbohydrate production owing to the large scale agricultural production of high fiber content plants and oilseeds, which are the primary raw material for fiber and carbohydrate ingredients. The emerging economies in the region are witnessing population rise, enhanced living standards, increasing spending power of consumers etc. Infrastructure in the Asia-Pacific region is becoming conducive for investments in nutrition-enrichment of food products. The region is set to be the fastest growing market for fibers & specialty carbohydrates during the forecast period 2020-2025. The developing economies are high-potential markets for dietary fiber and specialty (nutraceutical) carbohydrates. Such countries are high in population density, and their per capita income is rising as globalization increases. In addition, with changing lifestyles, consumers are becoming conscious of the health benefits of high fiber content in food. The ever-increasing population and per capita income level are set to prove to be a booster in demand for healthy food & beverages, leading to increased demand for fibers and specialty carbohydrates are likely to fuel demand over the forecast period 2020-2025.

Drivers – Fibers and Specialty Carbohydrates Market

Healthcare Benefits and Increasing demand for Dietary Supplements:

With rising demand for dietary supplements, sports nutrition products, weight loss products, animal nutrition and personal care is set to drive growth of the fibres & specialty carbohydrates industry. Fibers and carbohydrates which are advanced play a crucial role in health management. These are required to maintain a balanced digestive system, to regulate blood sugar and to lower levels of LDL (bad) cholesterol. These are used for treating malnourished people, stomach conditions and cardiovascular diseases. Food & beverage producers opt for natural ingredients for the nutritional benefits they have with their products. Fibers & specialty carbohydrates have applications in the nutraceutical, medicinal and cosmetics industries. The globally increasing popularity of fitness centres and gymnasiums among consumers is set to substantially boost the demand of dietary supplements. Post coronavirus outbreak, the market is likely to gain increasing impetus as consumers seek out healthier food to include in their daily diet.

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Challenges – Fibers and Specialty Carbohydrates Market

Phytochemicals and Carotenoids being Substituted for Their Excellent Anti-oxidation Properties:

The major challenge for the fibers & specialty chemicals market is attributed to the increasing demand for new products including phytochemicals and carotenoids as nutraceutical ingredients owing to exhibiting superior properties including excellent anti-oxidation properties. Obesity has become a public health problem in most nations in recent years. Obesity results from an imbalance between the amount of energy taken in and spent on metabolism and physical activity. Owing to the rising levels of osteoarthritis, diabetes and other chronic diseases linked to obesity, awareness among global consumers about fitness is growing. This is set to increase demand for fabrics and nutritional drinks-widely prescribed weight loss dietary supplements, which is projected to hamper the market for fibers as well as specialty carbohydrates. Moreover, the economic impact of Covid-19 continues, the market is to witness restraints as governments around the world enforce lockdown restricting free movement, are anticipated to restrain the growth of Fibers And Specialty Carbohydrates market in the near future.

Fibers and Specialty Carbohydrates Industry Outlook

Product launches, mergers and acquisitions, joint ventures and geographical expansions are key strategies adopted by players in the Fibers and Specialty Carbohydrates Market. In 2019, Fibers and Specialty Carbohydrates Market share is fragmented by the top ten players present in the market. Fibers And Specialty Carbohydrates Market top 10 companies are Tate & Lyle Plc., Ajinomoto Inc., ADM, Cargill Incorporated. Du Pont, DSM, Ingredion Incorporated, Roquette Freres, Südzucker AG Company and others.

Acquisitions/Product Launches

NB: No product development and acquisitions had taken place

Key Takeaways

North America dominated the Fibers and Specialty Carbohydrates Market with a share of 39% in the year 2019.

The factors such increasing popularity of nutritional enrichment in the food & beverage sector in light of growing awareness towards a healthy lifestyle and increasing market size for sports nutrition powder & drinks in developing countries including China, India, Mexico and South Africa are amongst the major factor projected to impel growth of Fibers and Specialty Carbohydrates Market.

Growing consumer demand for fortified food & beverages, the increasing number of incidences of chronic diseases, and mandates on food fortification by government organizations owing to inadequate levels of vitamins and minerals in the human body are the key factors owing to the growth in the segment during forecast period 2020-2025.

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