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North America Soluble fibers market to witness exponential growth over 2024

Author : Rahul Sankrityayan | Published Date : 2019-04-23 

Global soluble fibers market has stood as one of the major beneficiaries of the changing food habits of health-conscious and aware consumer base. With the exponentially increasing number of consumers utilizing fibers as a major ingredient in their diets, the global soluble fibers industry is indeed poised for a remarkable expansion in the ensuing years. In fact, fiber – which has since long been tagged as a vital ingredient for optimal digestive health, weight control & management, etc.– has remained protruding amid myriad breakthroughs of other ingredients in the F&B industry. Global Market Insights, Inc., reports that the soluble fibers market size for the year 2016 was pegged at USD 1.5 billion and is further anticipated to exceed USD 5.5 billion by 2024. Reportedly, North America is set to hold a major chunk in the global landscape.

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Speaking along similar lines, North America with U.S. at its forefront is witnessing a phenomenal growth pertaining to the health-conscious population. Increasing awareness regarding the importance of gut health due to surging rate of digestive problems has in turn augmented demand for soluble fiber products in the region. Analysts also deem the low carb trend – that has gained mass popularity as an approach for weight loss in the region – to have fueled soluble fibers market growth. In fact, estimates claim the overall North America to have accounted for more than 25% of the global soluble fibers industry share in 2016.

IFIC’s 2013 Functional Food Consumer Survey found that the main reason behind the disconnect among the consumer perception and actual fiber intake is the significant amount of population that struggled with proper intake of fiber or are unaware of the fact recommended levels. What this means is consumers believed that they were taking in more fibrous products than what they actually consumed.

Despite the major difference between fiber intake recommendation and reality, the drive for consuming and incorporating more & more fiber is still prominent for several health-conscious consumers. This consumption gap vividly highlights the untapped business opportunities for the potential stakeholders to explore this fraternity.

According to the IOM (Institute of Medicine, Washington), individuals of all ages should have an intake of 14 grams of fiber for every 1000 calories consumed to garner maximum benefits. The fiber intake range is further categorized into 25 grams and 38 grams for young women & men respectively. Despite of these standards, the 2003-2004 survey conducted by the NHANES (National Health and Nutrition Examination Survey) exhibited that only 3% of all Americans meet the recommended intake of fiber in their diets. The report also reveals that what further adds to this poor outcome is that about 67% of consumers believe that they are already getting the necessary levels of fiber in their diets.

On the geographical aspects, it becomes imperative to mention that Europe, with increasing demand for nutritional food products is poised to register a CAGR of 16.6% over 2017-2024. Asia Pacific soluble fibers market, on grounds of rising urban population and high density of ageing population, is set to witness y-o-y growth rate of 17% over 2017-2024.

Adding fuel to fire is the IFIC 2013’s survey result that showed majority of U.S. consumers inculcate fiber for weight management (72%) and optimal digestive health (85%). Moreover, it has also been reported that around 60% of American consumers check the ingredients list to see if it contains fiber before purchasing. The data goes on to depict the strong stance U.S. holds in the global soluble fibers market landscape.

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With reference to the strategic landscape, soluble fibers market is set to witness a slew of product launches in sync with the consumer health demands. In fact, this is one of the most vital parameters anticipated to define the competitive hierarchy of this business. Cargill has already taken a step forward in this arena and has rolled out a fiber product made from whole-grain barley that promoted healthy heart. Industry experts cite more such product launches by the market players to add a renewed dynamism to the competitive landscape. For the record, some of the renowned soluble fibers market players are Tate & Lyle, Nexira, DuPont Nutrition & Health, Archer Daniels Midland Company, and Ingredion Incorporated.

About Author

Rahul Sankrityayan

Rahul Sankrityayan

Fortified with a post-graduate degree in Computer Applications, Rahul Sankrityan writes for Fractovia, where he pens down news and articles spanning across segments of technology industry that excite him on a day-to-day basis. Rahul comes with a rich experience in technical field as well as writing. He can be contacted at- [email protected] | https://twitter.com/sankritsays

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