Global Inulin Market Poised To Touch US $2.91 Billion by 2023
Inulin is defined as a fibrous carbohydrate that can be classified as a starch. This substance can be found in a variety of foods such as vegetables, fruits, and herbs. Inulin is in the class of compounds known as fructans and is a naturally occurring oligosaccharide (it has several simple sugars linked together). Inulin is also considered to be a fibre since it is not absorbed in the gastrointestinal tract and so it enters into the large intestine where the bacteria uses it to prosper; thus making it a prebiotic. Inulin has a sweeter taste to it, so some people may definitely use this as a sweetener for a variety of things.
The global Inulin market
stood at the valuation of US$1.54 bn in 2016 and is estimated to reach around US$2.91 bn by the end of 2023. The market is expected to grow at a healthy CAGR of 9% during the mentioned forecast period of 2016 to 2023.
Global Inulin market is anticipated to observe a high growth in the coming years due to the growing awareness about prebiotic ingredients and their extensive utilization in food and beverages industry. The growth of Inulin market is further driven through the use of Inulin in dairy product formation such as ice-cream, yogurts and cheese. The development in dairy industries is anticipated to drive additional growth in Inulin market during the estimated period. The positive impact is seen in the Inulin market across the world due to the rapid growth in pharmaceuticals industry. In addition, fast growing significance of nutraceuticals due to increasing health awareness is estimated to increase the demand for Inulin as a functional ingredient. Another driver is that Inulin also helps in weight loss and constipation or it can be said that Inulin act as promoter of digestive health. Trend of consuming the products which contains Inulin has augmented as it eliminates the cholesterol, stimulates the immune system and also enables the human body to absorb better nutrients.
Based on application, the global Inulin market is classified into food products, pharmaceuticals and as dietary supplement. Of these, food products and dietary supplement leads the Inulin market segment globally. Added to above, dietary supplement helps in digestion as it is rich in fibre and higher nutritional components. However, subject to market size, greater source of income will also be from sales of food and beverages comprised of Inulin as it is easily incorporated into dairy products and drinks. This market can further be sub-segmented into functional food ingredients and processed food products (ice-cream, yogurt and cheese). As there has been a continuous increase in the demand in food and beverage industry, market volume of Inulin will also tremendously increase over the four years. Inulin will mainly be used in processed food products as it is touted as one of the best ingredient in dairy products which are mostly considered by health conscious customers.
Europe occupies the largest market share in Inulin market and is expected to observe significant growth due to regulatory support intended for promoting the incorporation of functional ingredients in regional food & beverage industry. In the coming years, Asia Pacific is expected to observe highest growth in terms of revenue because it is witnessing positive dairy industry outlook in China, Australia, India and New Zealand. The functional foods such as infant food formula in India, China and Japan are gaining huge popularity and thus are further anticipated to drive Inulin demand over the estimated period. Increase in pharmaceutical industry and dairy production in Mexico are anticipated to have a positive impact on Inulin market. Positive dairy industry outlook in India and China due to domestic demand growth along with favourable regulatory support for FDI is anticipated to propel Inulin market demand.
Global Inulin market is highly competitive owing to presence of limited companies. Some of the key players are Cosucra, Novabiorubber, Jarrow Formulas, Now Foods, Cargill Foods, Beneo-Orafti, Green Labs LLC, Parchem, Tic Gums and Sensus.
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