Companies active in the fibers & specialty carbohydrates industry are increasingly seeking strategic partnerships and product development to meet application requirements in the processed foods and beverages industry.
DUBAI, UAE / ACCESSWIRE / April 22, 2020 / The fibers & specialty carbohydrates market is projected to grow at a healthy CAGR of 6.1% during the forecast period (2020-2030). A significant increase in demand for applications in the sports nutrition, dietary supplements, weight loss, and personal care sectors are essential factors driving the sales of fibers & specialty carbohydrates. Players are investing in multiple end use application industries including cosmetics, nutraceuticals, and medicine to bolster market penetration. The rising demand will be supported by the growing numbers of gymnasiums and fitness centers, reveals Future Market Insights (FMI).
"Consumers are aware of the health benefits of high fiber foods. The rising population and income levels will aid demand for functional foods & beverages, resulting in growing demand for fiber and specialty carbohydrates," says the FMI analyst.
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Fibers & Specialty Carbohydrates Market - Key Takeaways
- Dietary supplements will remain a leading segment in terms of revenue share during the forecast period.
- Fibers will hold leading market share, while specialty carbohydrates will gain substantial CAGR through the forecast period.
- Functional beverages will display faster growth, driven by applications in the sports nutrition segment.
- Europe will hold a leading position in the global market share, while North America will display relatively steady growth.
Fibers & Specialty Carbohydrates Market - Key Driving Factors
- The high demand from the food and beverage industry for nutritional enrichment ingredients is a major growth driver.
- Strategic partnerships with distribution channels, will remain essential to success over the forecast period.
- The rising participation of emerging economies in major sporting events supports overall market growth.
- The niche applications in cosmetics and pet food, and weight loss applications is also a driver for global market growth.
Fibers & Specialty Carbohydrates Market - Key Constraints
- Rising demand for alternative nutraceutical ingredients such as carotenoids and phytochemicals will remain a challenge for market players.
- Growing prices in terms of raw materials will also remain a major restraint for market players.
The Covid-19 Impact
The coronavirus outbreak has put players in the fibers and specialty carbohydrates market in a challenging position. The wide spread of the virus coupled with its humanitarian toll, are key factors restricting market expansion.
The pandemic has reduced overall demand for fibers and specialty carbohydrates, in addition to disrupting supply chains through restrictions on free movement, which will adversely impact market growth. However, losses are expected to be partially mitigated through government aid, to minimize the losses in production arising from plant closures.
Explore the global fibers & specialty carbohydrates market report with 111 illustrative figures, 124 data tables and the table of contents. You can also find a comprehensive market segmentation on https://www.futuremarketinsights.com/askus/rep-gb-11224
Competition Landscape
Key players in the fibers & specialty carbohydrates market are Sudzucker AG Company, Tate & Lyle plc, Roquette Freres, ADM, Ingredion Incorporated, Cargill Inc., DuPont, and DSM. Majority of these players are investing in strategic collaborations with distribution partners, which will remain essential for maintaining demand from end user industries. Moreover, product innovation, associated with quality standards is also a key strategy being adopted by market leaders.
More About the Report
The FMI's market research report of 300 pages offers comprehensive insights on fibers & specialty carbohydrates market. The market is analyzed on the basis of type (fibers and specialty carbohydrates), application (functional foods, functional beverage, dietary supplements, animal nutrition, and personal care) across seven key regions (North America, Latin America, Europe, East Asia, South Asia, Oceania, and MEA).
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SOURCE: Future Market Insights