The
Functional Food and Beverages segment is likely to grow at a high
CAGR over the forecast period
In
2017, the functional food and beverage segment by application is
expected to be valued at more than US$ 1 Bn and is expected to expand
at a CAGR of 16.7% in the global
dietary fibres market over the forecast period to reach close
to US$ 6 Bn by the end of 2026. This segment is estimated to record
incremental opportunity of close to US$ 5 Bn between 2016 and 2026.
The functional food and beverages segment is expected to remain
dominant in the global dietary fibre market throughout the forecast
period with a revenue share of close to 50% by 2026 end.
Rising
awareness of healthy and nutritional food products anticipated to
boost the growth of the functional food and beverages segment
Growing
consumer concerns about healthy and nutritional food products are
increasing and as a result of this, consumers are shifting preference
towards healthy as well as nutritional products, which is driving the
revenue growth of the functional food and beverages segment. Rising
demand for fibre supplements in order to fulfil nutritional
requirements is creating a positive impact on the functional food and
beverages segment. Factors such as increasing ageing population,
growing prevalence of lifestyle diseases and increasing healthcare
costs are other major factors boosting the demand for functional food
and beverages globally. These factors are resulting in rapid consumer
shift towards dietary supplements to stay healthy and fulfil their
nutritional requirements. The above factors are also resulting in
customers opting for dietary fibre supplements that are rich in
vitamins, minerals and other essential ingredients. Increasing
preference towards consumption of dietary fibre rich products among
consumers owing to rising awareness regarding the various health
benefits of dietary fibres including normalised bowel movement,
reduced cholesterol levels, controlled blood sugar levels and also as
a means to maintain healthy body weight is a major factor driving
revenue growth of the functional food and beverages segment, and this
trend is expected to continue in future as well.
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The
functional food and beverages segment is projected to be the fastest
growing segment by application in the North America dietary fibres
market
In
2017, the functional food and beverages segment is estimated to be
valued at US$ 0.40 Bn and is expected to expand at a CAGR of 16.3%
over the forecast period to reach close to US$ 2 Bn by the end of
2026. This segment is estimated to create incremental opportunity of
more than US$ 1,000 Mn between 2016 and 2026. In Latin America, the
functional food and beverages application segment is estimated to
create incremental opportunity of more than US$ 400 Mn between 2016
and 2026. The functional food and beverages segment is expected to
expand at a CAGR of 17.8% over the forecast period in Western Europe.
In 2017, the functional food and beverages segment is expected to be
valued at a little more than US$ 200 Mn in the APEJ region, while in
the MEA dietary fibres market, the functional food and beverages
segment is anticipated to expand at a CAGR of 17.8% over the forecast
period to be valued in excess of US$ 700 Mn by the end of 2026.
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