Inulin Market by Application (Dietary Supplements, Food & Beverages, Pharmaceuticals), Region, Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast 2021 to 2028
Newark, NJ, Feb. 16, 2021 (GLOBE NEWSWIRE) — As per the report published by Fior Markets, the global inulin market is expected to grow from USD 1.10 billion in 2020 and to reach USD 1.86 billion by 2028, growing at a CAGR of 6.7% during the forecast period 2021-2028.
The global inulin market has witnessed significant growth in recent years. This growth is attributed to the growing development for the benefits of inulin, increasing awareness towards health-friendly foods, growing demand for naturally derived ingredients, growing dairy industry, and growth in the pharmaceutical sector. Other factors such as increasing awareness towards health-friendly foods, the fast-growing significance of nutraceuticals, and increasing use of alternative prebiotic and probiotic ingredients will spur the demand for inulin.
Inulin is a form of dietary fiber and has several benefits like improving digestive health, aiding weight loss, and helping control diabetes. It is most commonly used by mouth for high blood fats. Inulin is highly used for constipation, diarrhea, diabetes, and weight loss. The various health benefits of inulin are: improves digestive health, promotes weight loss, relieves constipation, improves mineral absorption and bone health, helps control diabetes, and supports heart health. It is also a type of soluble fiber that is found in various plants.
The global inulin market is expected to witness significant growth, owing to the rising demand for low-calorie sugar consumption in the food & beverage sector, increasing demand from the dairy industry used for formulations in ice cream, yogurts and cheese, and increasing demand for infant food formula. The factors restraining the market growth are other dietary fibers and prebiotic ingredients, high R&D cost, excessive consumption of inulin, allergic and discomfort in the digestive system, and growing chicory roots production.
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The key players operating in the global inulin market are Cosucra Groupe Warcoing SA, Shandong Baolingbao Biotechnology Co. Ltd., Beneo-Orafti SA, The Green Labs LLC, Jarrow Formulas, Dingxi Longhai Dairy Co., Ltd, Cargill Incorporated, Fenchem Inc., Wuxi CIMA Science Co. Ltd, The Tierra Group, PMV Nutrient Products Pvt. Ltd, Sensus B.V, Adept Impex Private Limited, and Keminterpharm. To gain a significant market share in the global inulin market, the key players are now focusing on adopting strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.
- For instance, in February 2018, Danone and Nestle, the baby food manufacturers, announced an increase in China and India’s production capacity. This manufacturing unit will have a positive influence on the demand for inulin.
- In April 2019, Beneco announced the production of organic inulin from chicory roots fiber. This announcement will provide inulin derived from chicory roots at a competitive price as compared to the organic inulin from various other sources.
Food & Beverage segment dominated the market and held the largest share of 45.7% in the year 2020
On the basis of application, the global inulin market is segmented into dietary supplements, food & beverages, and pharmaceuticals. The food & beverages segment is further classified into bakery & confectionery, meat products, cereals, and others. Food & Beverage segment dominated the market and held the largest share of 45.7% in the year 2020. This growth is attributed to the increasing functional ingredient demand used to enhance gut health function and sugar level reduction, rising consumer awareness, increasing dairy production, and increasing use of food & beverages as natural ingredients in animal feeds and coating industries.
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Regional Segment of Inulin Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
On the basis of geography, the global inulin market is classified into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. Europe held the largest market share of 38.6% in the year 2020. This growth is attributed to the regulatory support for promoting functional ingredients, rising awareness about dietary fibers, and increasing consumption from end-user industries like the feed market, food & beverages, and pharmaceuticals. North-America is anticipated to witness significant growth, owing to the growing pharmaceutical application in the U.S. Growing dairy production and the pharmaceutical industry will drive the market in the Mexico region. South Korea is also one of the fastest-growing regions due to its high dependence on imported food and the trend of an unhealthy lifestyle. The Latin America region is expected to project significant growth due to Brazil’s increasing dairy products consumption. The Asia-Pacific region is anticipated to witness significant growth, owing to the growth of end-use industries like food & beverages and pharmaceutical. India and China hold the largest market share in the region, owing to the benefit from government policies, increase in functional food demand, and growing per-capita income. The Middle East and Africa will grow, owing to the growth in the food & beverages industry.
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About the report:
The global inulin market is analyzed on the basis of value (USD billion). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insights of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitors position grid analysis.
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