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 USD 3.5 Bn by 2032.
The changing perspective of natural food ingredients among consumers can be seen in their purchasing habits. The health benefits of natural products are the most important factors driving increased demand and, as a result, the growth of the natural ingredients market. Natural ingredients are becoming increasingly popular among customers.
The reason for this is that an increasing proportion of the population suffers from various diseases and is allergic to synthetic ingredients. Customers prefer wheat fiber because they are made from natural ingredients that improve health and well-being. As a result, the growing demand for ingredients derived from natural sources such as wheat is expected to boost the use of wheat fiber in a variety of food products.
Consumers want to know how their food is made, where it comes from, and how good the ingredients are. Consumers are demanding transparency as they become more aware of the harmful effects of added chemicals and pesticides.
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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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Explore More Valuable Insights
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.
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
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