Fibers & Specialty Carbohydrates Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI1392
Global Fibers & Specialty Carbohydrates Market size is forecast to grow at substantial rate from 2017 to 2024. Changing on-the-go lifestyles of consumers and preference to healthy products has propelled the demand for nutritional enrichment in food & beverage sector.
The fibers and specialty carbohydrates market will be driven by the increasing demand for dietary supplements, sports nutrition products, weight loss products, animal nutrition and personal care. Fibers and specialty carbohydrates play a vital role in health management. They are needed to keep the digestive system healthy, to stabilize blood sugar and to lower LDL (bad) cholesterol levels. They are used to treat individuals suffering from malnutrition, gastrointestinal disorders and cardiovascular diseases. Food & beverages manufacturers opt for dietary ingredients for their products for the health benefits they provide.
Fibers and specialty carbohydrates have applications in nutraceuticals, pharmaceuticals and cosmetics industries. Fibers & specialty carbohydrates are broadly categorized as functional foods, functional beverage, dietary supplements, animal nutrition, and personal care. Dietary supplements segment was observed to account for more than one-third of the total volumes in 2015. The globally increasing popularity of fitness centres and gymnasiums among consumers will substantially boost the demand of dietary supplements.
Functional food & beverages involve addition of new ingredients or more of existing ingredients and they exhibit health-promotive or disease-preventive functions. Trend towards preventive healthcare in recent years has seen convergence of food manufacturing companies with pharmaceuticals to implement requisite research for diversifying their product lines. Growing health consciousness among consumers is likely to speed up the functional food & beverage market. Fibers & specialty carbohydrates demand in animal nutrition is expected to witness growth with growing world pet population. The tremendously growing global sports industry will lead to increase in demand for nutrition powder and drinks, which will propel the growth of the fibers & specialty carbohydrates market over the forecast period. Fibers & specialty chemicals market bears a threat of substitution from phytochemicals and carotenoids for their 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. Awareness among global consumers towards fitness is rising because of the alarming rates of osteoarthritis, diabetes and other chronic obesity related diseases. This would drive the demand for fibers and functional beverages-which are highly recommended dietary supplements for weight management. Obesity is one of the biggest drivers of healthcare costs in North America, which accounted for one third of the total fibers & specialty carbohydrates market share in 2015.
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 expected to be the fastest growing market for fibers & specialty carbohydrates during the forecast period.
The aforementioned trends are expected to play a crucial role in promoting the role of fibers & specialty carbohydrates in the upcoming years. Key manufacturers in fibers & specialty carbohydrates market include Cargill Incorporated, Roquette Freres, Du Pont, ADM, DSM, Tate & Lyle Plc, Ingredion Incorporated, Südzucker AG Company. The market players can keep the hold of the market over the forecast period by product innovation and intensifying the distribution channels.
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