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New Revenue Pockets in Dietary Fiber Market
The dietary fiber market is growing at a significant pace driven by robust demand from the downstream industries such as food and pharmaceuticals. There is a continuous need of innovations in the dietary fiber product market to gain competitive edge over other players. Increasing health awareness, global aging population, proven health benefits, and rising demands in emerging economies are the key factors that are fueling the growth of the dietary fiber market.
Asia-Pacific presents tremendous opportunities for dietary fibers and their end-use applications. China and India are emerging as consumption hubs for various dietary fiber-based products in this region. Factors such as rapid urbanization, higher disposable incomes, fast-paced lifestyles, preventive healthcare, and strong demand for functional foods are translating into a high demand for innovative dietary fiber products. Other countries such as Indonesia and Thailand are also emerging as new growth frontiers in this region. Dietary fiber consumption in Latin America and the Middle East & African regions is also set to exhibit promising growth in the coming years.
The key companies that operate in this market, such as Cargill Inc. (U.S.), E.I. DuPont de Nemours (U.S.), Lonza Group (Switzerland), Roquette Freres (France), Ingredion (U.S.), SAS Nexira (France), SunOpta (Canada), and Tate & Lyle (U.K.) are engaged in providing innovative products in order to cater to the increasing demands from the end-users. Through their growth strategies of expansion and producing dietary fiber products for different product and consumer groups, the companies intend to enhance their penetration in the dietary fiber market.
The market leaders are focusing their resources on development of new and innovative products which provide added benefits for their different product and consumer groups. Pursuing this approach, enables the manufacturers to produce dietary fibers with added health benefits. The companies are making efforts to portray their products as brands by gaining shelf visibility and targeting new customers. The key objective of this new product development strategy is to increase the company’s market presence and gain an additional market share in the global dietary fiber market.
Dietary Fiber Market by Product Type (Conventional/ Novel & Soluble/ Insoluble) and Application (Food & Pharmaceutical) - Global Trends & Forecasts up to 2019
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