Report : Asia Pacific Soluble Dietary Fibers Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (Inulin, Pectin, Polydextrose, Beta-Glucan, and Others), Source (Cereals and Grains, Fruits and Vegetables, and Others), and Application (Food and Beverages, Animal Nutrition, Pharmaceuticals and Nutraceuticals, and Others)
Food and Beverages Segment to dominate Asia Pacific Soluble Dietary Fibers Market during 2020–2028
According to a new market research study on “Asia Pacific Soluble Dietary Fibers Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Type, Source and Application,” is expected to reach US$ 1,818.59 million by 2028 from US$ 1,268.88 million in 2021. The market is estimated to grow at a CAGR of 5.3% from 2021 to 2028. The report provides trends prevailing in the Asia Pacific soluble dietary fibers market along with the drivers and restraints pertaining to the market growth. Emergent sources of soluble dietary fibers, fattening demand for soluble dietary fibers as a sugar replacement in beverages and as a prebiotic, and elevating demand for functional food are the major factor driving the growth of the Asia Pacific soluble dietary fibers market. However, varying prices of fluctuation in raw material hinder the growth of Asia Pacific soluble dietary fibers market.
The COVID-19 pandemic is anticipated to cause a significant economic loss in Asia Pacific. The consequence and impact can be even worse, and they totally depend on the spread of the virus. The Asian economies have been hit hard due to the pandemic. The emergence of new COVID-19 waves in India, Thailand, and other Asian economies has prolonged the effect of pandemic upon GDP. The ongoing COVID-19 pandemic is anticipated to cause huge disruptions in the growth of various industries of Asia Pacific. However, the uncertainty regarding the future outbreak, especially in countries such as India and few other Asian countries, has altered the status of several industrial sectors. The governments of various Asia Pacific economies are taking possible steps to restrict the spread of the virus by announcing country-wide lockdown, which have a direct impact upon the growth of industrial sectors. This may impact the demand for soluble dietary fibers. However, the market is expected to witness an increase in investment by existing players along with penetration of new players to tap the prevailing opportunities as well as cater to soaring demand for natural, healthy, clean-label products in post-pandemic times.
The Asia Pacific soluble dietary fibers market is segmented on the bases of type, source, application, and country. Based on type, the market is segmented into inulin, pectin, beta-glucan, polydextrose, and others. In 2020, inulin segment held the largest share in the market, and others is expected to be the fastest growing segment during the forecast period. Based on source, the soluble dietary fibers market is segmented into cereals and grains, fruits and vegetables, and others. In 2020, the cereals and grains segment held the largest share in the market and others is expected to be the fastest growing segment during the forecast period. Based on application, the market is segmented into food and beverages, animal nutrition, pharmaceuticals and nutraceuticals, and others. In 2020, food and beverages segment held the largest share in the market, and pharmaceuticals and nutraceuticals is expected to be the fastest growing segment during the forecast period. Similarly, based on country, the market is segmented into the Australia, China, India, Japan, South Korea, and Rest of APAC. In 2020, the China held the largest share in the market and India is expected to be the fastest growing country during the forecast period
Cargill, Incorporated, Kerry Group, Ingredion Incorporated, Nexira, Roquette Frères, Tate & Lyle PLC, ADM, IFF Nutrition & Biosciences, and BENEO GmbH are among the leading companies in the Asia Pacific soluble dietary fibers market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market.