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Pharmacy benefit management market
Soluble Fibers Market Report Overview
The global soluble fibers market size was USD 1450.6 million in 2021 & the market is expected to reach USD 2477 million in 2031, exhibiting a CAGR of 5.2% during the forecast period.
The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.
Soluble fibers are a type of dietary fiber that dissolves in water to form a gel-like substance during digestion. They are found in foods such as oat bran, barley, nuts, seeds, beans, lentils, peas, fruits, and vegetables, as well as in fiber supplements like psyllium. These fibers play a crucial role in slowing down the digestion process, attracting water, and forming a gel that aids in regulating cholesterol and glucose levels in the bloodstream. Due to their health benefits, including potential risk reduction for heart disease, they are gaining popularity and finding application in functional foods, beverages, pharmaceuticals, and animal feed.
The market is witnessing a surge in demand due to the growing popularity of functional foods among consumers. Health-conscious individuals are seeking products that go beyond basic nutrition and provide additional health benefits. As a result, these fibers are finding their way into various functional food items, including snacks, cereals, and beverages, as they offer enhanced nutritional value and support digestive health. The incorporation of soluble fibers in these products aligns with the consumers' preference for natural and effective solutions to improve overall well-being. This trend is driving the soluble fibers market growth as manufacturers cater to the rising demand for functional and health-promoting food options.
COVID-19 Impact: Pandemic's impact caused shifting consumer demand and showcased the market's resilience
As countries imposed lockdowns and restrictions to curb the virus's spread, consumer behavior changed dramatically. With an increased focus on health and wellness during the pandemic, the demand for functional foods and supplements, including those containing soluble fibers, experienced a surge. Consumers sought natural solutions to boost immunity and improve overall well-being, leading to an uptick in the adoption to manage cholesterol and glucose levels. The disruptions in supply chains, production, and distribution channels during the pandemic posed challenges to market growth. Despite these obstacles, the market demonstrated resilience, driven by the growing health consciousness and the recognition of the fibers' health benefits. As the world adapted to the new normal, the market is expected to continue its growth trajectory, capitalizing on the evolving consumer preferences for healthier and functional food choices.
Latest Trends
"Growing health consciousness is driving increased demand as they provide natural solutions for managing cholesterol and glucose levels"
As health consciousness continues to rise, consumers are increasingly prioritizing preventive healthcare practices. They are becoming more aware of the significance of maintaining optimal cholesterol and glucose levels for overall well-being. In response to this trend, the demand is surging, as they are renowned for their ability to lower cholesterol and regulate blood sugar levels effectively. Consumers are actively seeking natural and effective solutions to manage their health, making them a sought-after dietary component. This growing awareness of the health benefits associated with soluble fibers is driving their higher demand and adoption in various food and supplement products.
Soluble Fibers Market Segmentation
- By Type Analysis
According to type, the market can be segmented into inlin, oligosaccharides, resistant starch, resistant maltodextrin, polydextrose, and beta-glucan.
- By Application Analysis
Based on application, the market can be divided into functional food and beverage, animal feed, and pharmaceuticals.
Driving Factors
"Adoption by pharmaceuticals is driven by their potential to enhance drug delivery and improve medication efficacy"
The pharmaceutical industry is witnessing the expansion of soluble fibers' application as they find new roles as excipients and bulking agents in tablet and capsule formulations. Their incorporation aids in controlled drug release and enhances medication efficacy. Pharmaceutical companies recognize the benefits, which are driving their adoption in various drug formulations. As these fibers provide functional benefits while being well-tolerated by the human body, they offer an attractive option for improving drug delivery systems. The growing awareness of their potential to enhance drug performance and the desire to optimize patient outcomes are encouraging pharmaceutical manufacturers to utilize them in innovative ways, thus fueling their increased application in the sector.
"Livestock industry's emphasis on animal well-being is driving increased demand which offers benefits such as improved digestion and nutrient absorption in animals"
The increasing demand for animal feed is driven by their ability to enhance digestive health and nutrient absorption in livestock. As the livestock industry prioritizes animal well-being and productivity, the incorporation of soluble fibers in animal feed formulations is gaining momentum. These fibers aid in regulating the digestive process, promoting better nutrient utilization and overall health in animals. Improved nutrient absorption leads to enhanced growth rates and productivity, making them an attractive option for livestock farmers. With a growing focus on sustainable and efficient farming practices, the adoption of soluble fibers in animal feed aligns with the industry's efforts to optimize animal health and welfare, driving their rising popularity.
Restraining Factors
"Limited consumer awareness hinders widespread adoption as individuals may not fully understand the health benefits and versatile applications of these fibers in their diets"
Limited consumer awareness poses a significant challenge to widespread adoption, despite the increasing health consciousness among individuals. While more people are becoming health-conscious, many may not be fully aware of the specific health benefits and diverse applications in their diets. This lack of awareness can lead to a reluctance to incorporate them into their daily food choices, inhibiting market growth. Effective educational campaigns and clear communication about the advantages, such as cholesterol and glucose management, digestive health support, and their presence in various food products, are essential to overcome this restraint and drive broader consumer acceptance.
Soluble Fibers Market Regional Insights
"North America emerging as the leading region due to consumer awareness and the rising demand for functional foods"
The leading region is North America, which holds the maximum soluble fibers market share and is expected to grow at the fastest rate. This region has a well-established food and beverage industry and a high level of consumer awareness regarding health benefits. North America has witnessed significant demand for functional foods and dietary supplements, driving the adoption in various applications. The presence of key market players, technological advancements, and robust research and development activities contribute to the region's dominance in the market. The North American market is poised to experience substantial growth in the forecast period, fueled by increasing health consciousness and the growing popularity of functional foods.
Key Industry Players
"Key players' strategic focus on research, product expansion, and sustainable practices is driving advancement and leadership"
Key players in the market are focusing on research and development, expanding product portfolios, and adopting sustainable sourcing practices to meet the growing demand for functional foods and dietary supplements. This focus aims to enhance their market presence, cater to evolving consumer preferences, and position themselves as leaders in the competitive industry.
LIST OF TOP SOLUBLE FIBERS COMPANIES
- Tate and Lyle (Europe)
- DowDuPont (North America)
- Nexira (Europe)
- INGREDION (North America)
- Archer Daniels Midland Company (North America)
- TIC Gums (North America)
- Taiyo International (Asia)
- Psyllium Labs (North America)
- Wacker Chemie (Europe)
- Roquette (Europe)
Report Coverage
This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. Detailed studies also offer a comprehensive analysis by inspecting factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, etc. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.
REPORT COVERAGE | DETAILS |
---|---|
Market Size Value In |
US$ 1450.6 Million in 2021 |
Market Size Value By |
US$ 2477 Million by 2031 |
Growth Rate |
CAGR of 5.2% from 2021 to 2031 |
Forecast Period |
2022-2031 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered | |
By Type
|
|
By Application
|
Frequently Asked Questions
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What value is the global soluble fibers market expected to touch by 2031?
The global soluble fibers market is expected to touch USD 2477 million in 2031.
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What CAGR is the soluble fibers market expected to exhibit during 2021-2031?
The soluble fibers market is expected to exhibit a CAGR of 5.2% over 2021-2031.
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Which are the driving factors of the soluble fibers market?
Adoption by pharmaceuticals is driven by their potential to enhance drug delivery and improve medication efficacy.
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Which are the top companies operating in the soluble fibers market?
Tate and Lyle, DowDuPont, Nexira, INGREDION are the top companies operating in the soluble fibers market.