From 2023 to 2033, worldwide inulin consumption is expected to grow at a robust 6.1% CAGR. The worldwide inulin market is now valued at US$ 1.45 billion and is predicted to grow to US$ 2.62 billion by the end of 2033.
The documented advantages of inulin for improving digestive and intestinal health are projected to promote its consumption over the projection period. Inulin has also been shown to assist diabetics regulate their blood sugar levels and improve their lipid profile. Inulin’s unique properties are projected to aid market development in the long run.
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Other prospects that are expected to boost inulin consumption in the near future include rising consumption of functional foods among the general population, rising preference for low-calorie foods, increasing use of inulin in pharmaceuticals, high demand for prebiotics, recognition of inulin as a safe product by several regulatory authorities, and rising demand for organic ingredients.
Demand for chicory root fiber is expected to skyrocket in North America and Europe over the forecast period, owing to shifting consumer tastes and rising demand for plant-based and vegan food items. Organic inulin is expected to outsell conventional inulin due to growing consumer awareness of organic foods and components throughout the world.
Competitive Landscape:
Increasing use of inulin in pharmaceuticals, nutraceuticals, and dietary supplements has resulted in heightened demand for inulin. To meet this increasing demand inulin suppliers are focusing on expanding their production capacity by creating new plants and increasing the capacity of existing plants.
In November 2021, Beneo, a renowned food ingredient manufacturer and supplier, announced that it would be investing US$ 31.72 million in the expansion of prebiotic chicory root fiber production plants in Belgium and Chile. The work was expected to begin in early 2022 to increase the capacity by around 40% in both plants.
Key Players:
- BENEO-Orafti SA
- TrooFoods Ltd.
- Steviva Brands Inc.
- PMV Nutrient Products Pvt. Ltd
- Sensus B.V.
- Naturel West Corp EU B.V.
- The Tierra Group
- Cosucra Groupe Warcoing SA
- NOW Health Group Inc.
- THE IIDEA Company
- Jarrow Formulas Inc.
- Natura BioFoods
- Nova-BioRubber Green Technologies Inc.
- The Green Labs LLC
- Nutriagaves de México SA de CV
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Regional Analysis:
Japan has a large population of elderly individuals, which is likely to stimulate demand for inulin prebiotics in the country. Inulin has been shown to promote digestive health and assist elderly individuals have regular bowel movements, and sales of inulin supplements are projected to skyrocket in the coming years. Furthermore, Japan’s cheap and reasonable labor costs are projected to attract new investors and inulin manufacturers.
Throughout the projected period, all of the aforementioned elements are expected to provide investment-worthy possibilities in Japan. Shipments of inulin fiber are expected to increase at a 5.5% CAGR in Japan over the next 10 years. The United Kingdom is expected to be a prominent market for inulin providers not just in the European area, but globally, owing to favorable regulatory norms for the use of functional ingredients in foods and drinks.
Furthermore, changing consumer tastes, increased demand for healthy components, and expanding adult usage of dietary supplements are all factors that will drive market growth throughout the forecast period. Inulin demand in the United Kingdom is expected to grow at a 5% CAGR over the next 10 years.
Key Segments of Industry:
- By Source :
- Agave Inulin
- Chicory Root Inulin
- Jerusalem Artichoke Inulin
- By Form :
- Powdered Inulin
- Liquid Inulin
- By Nature :
- Organic Inulin
- Conventional Inulin
- By End Use :
- Functional Food & Beverages
- Clinical Nutrition
- Dietary Supplements
- Dairy Products
- Infant Formula
- Breakfast Cereals & Cereal Bars
- Meat Products
- Animal Nutrition
- Pharmaceuticals
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