03.03.14
London-based global research firm TechNavio is anticipating significant growth for the dietary fiber market in North America. While the market was valued at $620 million in 2013, it is now expected to reach $1.08 billion by 2018, growing at a CAGR of 11.74%.
Globally, the market revenue for dietary fiber was valued at $1.83 billion in 2013 and is expected to reach $3.76 billion by 2018, growing at a CAGR of 15.49%.
The firm attributed the steady growth of the market (particularly in the U.S.) in part to the large aging population, as well as the growing number of people looking to improve their health while suffering from obesity, constipation and chronic illnesses such as heart disease, cancers and gastrointestinal diseases.
However, TechNavio’s report noted competition is fierce and expanding, making the market highly fragmented and leading to pricing wars.
A senior analyst and co-author of TechNavio’s report stated, “The food and beverages industry was the major revenue contributor to this market, accounting for a 56.28% share in 2013. The global dietary fiber market will be witnessing steady growth during the forecast period due to the rising global demand for dietary fibers with North America being the major market, followed by Europe, the APAC region and the rest of the world.”
Globally, the market revenue for dietary fiber was valued at $1.83 billion in 2013 and is expected to reach $3.76 billion by 2018, growing at a CAGR of 15.49%.
The firm attributed the steady growth of the market (particularly in the U.S.) in part to the large aging population, as well as the growing number of people looking to improve their health while suffering from obesity, constipation and chronic illnesses such as heart disease, cancers and gastrointestinal diseases.
However, TechNavio’s report noted competition is fierce and expanding, making the market highly fragmented and leading to pricing wars.
A senior analyst and co-author of TechNavio’s report stated, “The food and beverages industry was the major revenue contributor to this market, accounting for a 56.28% share in 2013. The global dietary fiber market will be witnessing steady growth during the forecast period due to the rising global demand for dietary fibers with North America being the major market, followed by Europe, the APAC region and the rest of the world.”
