Inulin Market: World Approaching Demand & Growth Prospect 2019-2028
Fact.MR’s new study on the inulin market has unveiled interesting insights about a rapidly evolving landscape. Recent FDA approval of inulin as a GRAS (Generally Recognized as Safe) product in dietary fiber category and increasing consumption of dietary supplements are expected to bode well for the inulin market in the coming decade. While inulin has been used as an ingredient by manufacturers, its inclusion in the FDA’s new definition of dietary fibers is set to be beneficial not only for inulin producers but for end users who are seeking clean labelled products – these developments are likely to augur well for the inulin market, according to the report.
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The research study offers in-depth insights on the key factors influencing inulin market growth. According to the report, investment in new product development and introduction of novel inulin-based products remain the key strategies adopted in inulin market. Considering the growing fragmentation in the inulin market, and palpable preference towards premium brands, proliferation of high-quality products is highly likely in this landscape.
Global consumption of dietary supplements and functional foods is rising at an exponential rate. Prominently driven by this consumer trend, the growth trajectory of the inulin market is expected to witness a persistent rise during the foreseeable future. Strengthening of supply chains and expansion of shipping routes are likely to reduce fluctuations in demand-supply equilibrium.
Demand for inulin remains concentrated in the dietary supplements industry on the back of pervasive ‘health and wellness’ trend. The lucrativeness of dietary supplements industry for prospects of inulin manufacturers can be gauged from the fact that this segment currently accounts for nearly one-third revenue share of the overall inulin market. The report opines that FDA approval of inulin as GRAS product will create sustained opportunities for stakeholders in the inulin market.
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The comprehensive research study also tracks inulin market in key regions, and offers an objective analysis on the future outlook. According to the study, Western Europe will continue to be the largest market for inulin globally. The demand for inulin in Western Europe is likely to be concentrated in the EU5.
The U.S. inulin market is becoming more organized, with leading brands positioning themselves to leverage the emerging opportunities in the inulin market. Surging demand for inulin in the U.S. is likely to translate into moderate growth of the overall North America inulin market.
The research study also offers market analysis and forecast on the key source types of inulin. According to the report, Western Europe is likely to maintain its numero uno position as a leading producer of chicory. The production of chicory in Europe is likely to remain concentrated in France and Belgium. Along with Europe, Asia Pacific is the leading chicory producing region and collectively these two regions accounted for over 80% of the world’s chicory production in 2016.
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The growth forecast of the APEJ (Asia Pacific Excluding Japan) inulin market is expected to remain steady, reporting a CAGR of 6.8% during the forecast 2018 – 2028. Rising demand for different types of inulin, specifically organic certified inulin in the region and increasing establishments of inulin processing facilities are likely to augur well for the inulin market performance in the region. According to the study, Latin America region, in particular Columbia, is the major cultivator of Jerusalem Artichoke. Further, Colombia alone produced 15,344 metric tonnes of agave, followed by Mexico with 5,951 metric tonnes in 2016.
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