The global wheat fiber market is set to witness growth at a CAGR of 7.4% and is anticipated to reach a valuation of around US$ 3.5 Billion by 2032.
Customers’ evolving views on natural food ingredients are reflected in their purchasing behaviours. The primary factors propelling the increase in demand and consequent growth of the natural ingredients sector are the health advantages of natural products. Customers are becoming more and more drawn to natural substances.
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This is because more and more people have allergies to synthetic compounds and a variety of other ailments. Because wheat fibre is made with natural components that support wellbeing and health, consumers adore it. Consequently, it is anticipated that the growing need for natural ingredients such as wheat will lead to a rise in the use of wheat fibre in a variety of food products.
Customers are interested in the origins, methods of preparation, and quality of the ingredients in the food they eat. As more people become aware of the negative effects of additional chemicals and pesticides, they are calling for openness.
To ensure food safety, consumers are tracing the journey of their food from source to consumption using technology. The recent focus on food safety issues has raised consumer awareness of potential safety risks in the products they consume, fueling increased demand for traceability. Labeled products are provided by Cargill, Incorporated and Ingredion Incorporated to meet market trends and consumer demands.
Key Takeaways from Market Study
- The market is segmented based on nature, wherein the conventional wheat fiber is anticipated to account for around 89% of the market share over the forecast period.
- The North America wheat fiber market is anticipated to dominate the global market with a market share of around 27.0% in 2022.
- On the basis of type, soluble wheat fiber is expected to hold a market share of 62% in 2022, which is also expected to witness a lucrative growth rate over the forecast period.
- Obesity has nearly tripled worldwide since 1975, according to the World Health Organization. Obesity and health problems associated with being overweight kill more people than underweight issues in the majority of the world’s population. It was also discovered that 39 percent of adults aged 18 and up were overweight in 2016, with 13 percent obese. Obesity can be avoided by limiting overeating and adhering to a healthy diet. Soluble wheat fibers can help you lose weight by reducing your appetite and calorie intake.
“The key players operating in the global wheat fiber market are focusing on partnership, collaboration, acquisitions, and mergers, with regional and local manufacturers and distributors to increase the products’ penetration and revenue of the company.” says a Future Market Insights analyst.
Competitive Landscape
Leading wheat fibre producers are attempting to expand their footprint across promising areas by introducing new products, increasing production capacity, developing strategic partnerships with existing players, and acquiring small-scale producers. The following are some noteworthy market developments:
- Cargill, Incorporated invested USD 35 million in a Cargill plant in Europe in October 2019 to produce soluble fibres that meet consumers’ demand for healthier products. The investment was part of the company’s ongoing efforts to provide on-trend solutions, and it marked the company’s first foray into soluble fibres in Europe.
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Future Market Insights, in its new report, offers an impartial analysis of the global wheat fiber market, presenting historical data (2017-2021) and estimation statistics for the forecast period of 2022-2032.
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Wheat fiber Market by Category
By Nature, Wheat Fiber Market is Segmented as:
- Organic
- Conventional
By Type, Wheat Fiber Market is Segmented as:
- Soluble Wheat Fiber
- Insoluble Wheat Fiber
By End-use Industries, Wheat Fiber Market is Segmented as:
- Food & Beverages
- Bakery Products
- Confectionery
- Sauces, Soups, and Dressings
- Jams & Jellies
- Meat Products
- Others
- Dietary Supplements
- Personal Care & Cosmetics
- Animal Feed
- Pharmaceuticals
- Others
By Region, Wheat Fiber Market is Segmented as:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East and Africa
Frequently Asked Questions
- How big is the wheat fiber market?
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- Which region is expected to drive the demand for the wheat fiber market?
- Who are the key players operating in the market?
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