Corn Fiber Market size surpassed USD 895 million in 2022 and is anticipated to exhibit a 10% CAGR from 2023 to 2032, on account of the positive growth trajectory of the bakery sector.
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Corn fiber has gained popularity as a staple food item worldwide. With the changing lifestyle and the rising disposable income, the availability and accessibility to convenient foods including baked goods have increased. Over recent years, the bakery sector has become a critical part of the economy, especially in Europe. Based on statistics from the Open University Business School, in the UK, nearly half of the population consumes bread daily.
|Corn Fiber Market Size in 2022:||USD 895 Million|
|Forecast Period:||2023 to 2032|
|Forecast Period 2023 to 2032 CAGR:||10%|
|2032 Value Projection:||USD 2.4 Billion|
|Historical Data for:||2018 to 2022|
|No. of Pages:||266|
|Tables, Charts & Figures:||310|
|Segments covered:||Application, and Region|
|Pitfalls & Challenges:|
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Despite the increasing product application scope, the availability of alternatives including inulin and pectin may create a hindrance to industry development to some extent. Inulin, for example, can boost the presence of beneficial bacteria in the gut and promote digestive health. These attributes led to its higher percentage share than corn fiber across the dietary fiber market. However, the strong focus on fitness and the high penetration of gyms and fitness centers will proliferate the intake of nutraceuticals and dietary fibers and subsequently create lucrative opportunities for corn fiber producers.
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Based on the application, the corn fiber market share from the pharmaceutical segment is slated to register over 10% CAGR through 2032, due to the growing burden of osteoporosis. According to data from the CDC, this bone condition affects nearly 20% of women aged 50 years and above. Since soluble corn fibers can help enhance bone strength in post-menopausal women, the product’s usage in nutraceutical and pharmaceutical solutions will rise. Furthermore, the awareness about its effectiveness in chronic disease management including diabetes will bolster its demand for pharma applications.
Corn fiber industry size from the textiles application segment will exceed USD 680 million by 2032, as a result of the eco-friendliness and sustainability trend. Corn fiber fabrics have gained massive acceptance in non-woven, industrial textile, and home textile applications such as window coverings, diapers, and geotextiles. Despite this favorable business environment, inflationary headwinds and low export demand may limit home textile sales and in turn, assert a negative impact on corn fiber developers to a certain extent over the forthcoming years.
From a regional perspective, the Europe corn fiber market is estimated to grow at 10% CAGR during the forecast timeline, driven by the increasing number of health-conscious consumers, expansion of the regional food industry, and escalating textile exports. Germany, for example, has emerged as the fourth-largest textile and clothing exporter worldwide, and clothing and textiles are the second-largest consumer goods sector across the country. These factors will proliferate the sales of corn fiber fabrics and subsequently assert a positive influence on product development in the region.
Some of the leading companies involved in the corn fiber market include
These firms are focusing on new product developments and business expansions to boost their presence in the industry.
For instance, in May 2019, Roquette launched Research & Development Laboratory premises across Panevezys, Lithuania. This new R&D investment was intended to strengthen its industry position in the Northern European market.
The COVID-19 outbreak has unleashed a range of critical trials on dietary supplements as researchers target to evaluate nutritional products to fend off the deadly coronavirus. Preliminary results suggested the effectiveness of these supplements in boosting immunity and reducing the risk of virus transmissions while ensuring rapid recovery among patients. Since corn high in dietary fiber can help maintain a healthy lifestyle, the integration of corn fiber in foods, beverages, and nutraceutical products will rise and add impetus to market growth during the pandemic.
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Market, By Application
The above information has been provided for the following regions and countries: