Report : Europe 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)
Cereals and Grains Segment to dominate Europe Soluble Dietary Fibers Market during 2020–2028
According to a new market research study on “Europe Soluble Dietary Fibers Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Type, Source and Application,” is expected to reach US$ 1,050.24 million by 2028 from US$ 772.85 million in 2021. The market is estimated to grow at a CAGR of 4.5% from 2021 to 2028. The report provides trends prevailing in the Europe soluble dietary fibers market along with the drivers and restraints pertaining to the market growth. Burgeoning applications of soluble dietary fibers in pharmaceuticals and nutraceuticals, expanding demand for functional food, and accelerated demand for soluble dietary fibers as a sugar replacement in beverages and as a prebiotic are the major factor driving the growth of the Europe soluble dietary fibers market. However, unstable prices of fluctuation in raw material hinder the growth of Europe soluble dietary fibers market.
In Europe, currently Russia, the UK and France are the worst-impacted countries by the COVID-19 pandemic. The region is estimated to suffer an economic hit due to the lack of revenue from various industries subjected to disruption in supply chain. The massive outbreak of the pandemic has created temporary distortion in operation efficiencies of industrial bases in European market. The market for soluble dietary fibers has been negatively impacted due to fluctuations in raw material sourcing and pricing, along with limited operational capabilities due to COVID-19 restrictions. However, shift in consumer lifestyle, rise in preference toward healthy dietary practices, and increase in incorporation of dietary fibers in diets have substantially promoted the demand for soluble dietary fibers in the regional market. For instance, as per an article published by Tate and Lyle in June 2021, the advances and innovation in the food & beverages industry have prompted the consumption of dietary fiber over sugars and fat as a significant replacement. As per an article published in the Journal” Gut Microbes,” the consumption of high fiber diet could significantly lower down the inflammatory responses associated with COVID-19 infection. Additionally, as per an article published by Europe PMC, a study was conducted to understand the microbial patterns with regards to probiotics and dietary fibers. The study speculated the consumption of probiotics and dietary fibers could significantly contribute to reduce inflammation and strengthen the overall immune system in response to COVID-19 infection. Hence, the market for soluble dietary fibers is expected to grow in the region. Further, several industrial bases such as food & beverages, pharmaceuticals and nutraceuticals, and animal feed are expected to flourish post pandemic, which has a direct correlation with the demand for soluble dietary fibers in the regional market.
The Europe 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 Germany, France, Italy, UK, Russia, and Rest of Europe. In 2020, the rest of Europe held the largest share in the market and Germany 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, BENEO GmbH, and COSUCRA are among the leading companies in the Europe 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.