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(MoneyNewsWire.Net, June 06, 2018 ) The soluble dietary fibers market is projected to grow at a CAGR of 13.4% from 2017, to reach a projected value of USD 3.23 Billion by 2022. The growth of this market can be attributed to the growth of convenience food sector, favorable functional properties of soluble dietary fibers, and the growing usage and applications of soluble dietary fibers in the functional foods & beverages industry.
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The inulin segment, on the basis of species type, accounted for the largest market share in 2016 due to its multiple health benefits. Inulin is extensively used as a food additive to enhance flavor and acts as a replacer of fats & sugar in various food applications such as bakery, frozen dairy desserts, and confectionery products. The fruits & vegetables segment, on the basis of source, accounted for the largest market share in 2016 owing to its higher soluble dietary fiber content in a wide variety of fruits & vegetables.
The application of soluble dietary fibers is the largest in the functional foods & beverages sector due to the growing application of soluble dietary fibers to obtain varied functional properties in food products such as confectioneries, beverages, and processed foods.
North America accounted for the largest market share in 2016 due to the increase in consumer demand for healthy fibrous food due to busy lifestyles. Asia-Pacific is projected to be the fastest-growing region from 2017 to 2022 due to its large untapped market, growing food sector, and low production costs. The food & beverage market in the Asia-Pacific region is currently undergoing a dramatic transformation in response to rapid urbanization, diet diversification, and the liberalization of foreign direct investment in the food sector.
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The soluble dietary fibers market is governed by different regulatory bodies, which vary regionally. The legislation regarding the extraction, processing, formulation, and end-product manufacturing of each type of soluble dietary fiber differ from country to country. Compliance with the existing regulations during the manufacturing stage can increase production costs. The clinical trials and safety testing is a lengthy procedure and require heavy investments. Furthermore, substantial investments in R&D activities, laboratories, and research equipment, and hiring trained professionals create barriers for the development of the soluble dietary fibers market.
The market is dominated by key players such as include Cargill (U.S.), Ingredion Incorporated (U.S.), Archer Daniels Midland Company (U.S.), E. I. du Pont de Nemours and Company (U.S.), and Südzucker AG (Germany). Other players include Kerry Group plc (Ireland), Tate & Lyle PLC (U.K.), Frutarom Industries Ltd. (Israel), Royal Cosun U.A. (Netherlands), Nexira (France), Tereos (France), and Roquette Frčres S.A. (France). The key players have adopted strategic developments such as new product launches, acquisitions, joint ventures, expansions, partnerships, and agreements in order to explore the market in new geographies.
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