Inulin For Functional Food & Beverages To Yield A Revenue Worth US$ 170 Mn By 2031: Fact.MR Study

A recently updated Fact.MR Report, the inulin market is anticipated to grow at a CAGR of 8.2 percent from 2021 to 2031, reaching a value of US$ 2.2 Bn by the end of the specified forecast period. Growth is probably going to rely on consumers consuming more functional foods and drinks, which are meant to improve consumers' overall immunity and lessen chronic health issues.

Sales increased at a CAGR of 6% from 2016 to 2020. The pharmaceutical industry experienced a sharp increase in demand during the COVID-19 pandemic. The rise in sales was caused by an increase in the consumption of nutraceuticals and nutritious sugar-free foods.

Increasing prebiotic ingredient popularity and calorie- and fat-reduction awareness campaigns are anticipated to drive the global inulin market during the forecast period. Additionally, inulin has been approved as a safe product by government-authorized food and drug organisations in a number of nations, ensuring the safety of consumers.

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Driving Inulin Adoption: Consistent Demand for Natural Sweeteners?

Since consumers are becoming more aware of the negative effects of consuming too much sugar, they are actively looking for sweeteners of both kinds, including natural and artificial sweeteners. Artificial sweetener use has increased recently, mostly as a result of people wanting to slim down and reduce their risk of developing diabetes. On the other hand, artificial sweeteners often contain unhealthy man-made ingredients. Furthermore, artificial sweeteners have a lot of calories, which bothers consumers who care about their health.

On the other hand, natural and organic sweeteners are low in calories and free of dangerous chemicals. Natural sweeteners like agave syrup, stevia, and inulin have become more well-liked as a result. This significant shift in consumer acceptance successfully addresses underlying problems with the consumption of sugar and artificial sweeteners. Over the next ten years, the inulin market is anticipated to expand due to rising consumer demand for natural sweeteners among health-conscious consumers.

Inulin Market Key Segments

By Source

·         Agave Inulin

·         Chicory Inulin

·         Jerusalem Artichoke Inulin

By Form

·         Powdered Inulin

·         Liquid Inulin

By Nature

·         Organic Inulin

·         Conventional Inulin

By End Use

·         Inulin for Clinical Nutrition

·         Inulin for Dietary Supplements

·         Inulin for Functional Food & Beverages

·         Inulin for Dairy Products

·         Inulin for Infant Formula

·         Inulin for Breakfast Cereals & Cereal Bars

·         Inulin for Meat Products

·         Inulin for Animal Nutrition

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Competitive Environment

In order to make the necessary changes to inulin and produce higher quality inulin, manufacturers in the inulin market invest in R&D. To ensure that the company's product line remains innovative in light of current market trends and end-user feedback, manufacturers are also putting a lot of effort into product development.

·         For instance, BENEO provides Orafti®, a fibre made from chicory root that is naturally sourced and doesn't compromise on flavour or texture. It can be utilised to prepare a number of culinary dishes.

Key Companies Profiled

·         BENEO-Orafti SA

·         Steviva Brands Inc.

·         THE IIDEA Company

·         Cosucra Groupe Warcoing SA

·         Sensus B.V.

·         Naturel West Corp EU B.V.

·         The Tierra Group

·         NOW Health Group Inc.

·         Jarrow Formulas Inc.

·         The Green Labs LLC

·         PMV Nutrient Products Pvt. Ltd

·         TrooFoods Ltd.

·         Nutriagaves de México SA de CV

·         Natura BioFoods

·         Nova-BioRubber Green Technologies Inc.

Country Wise Analysis

Why is the United States a market leader in inulin?

With a total revenue of US$ 285.1 Mn, the United States is the market's largest shareholder in inulin. Most Americans who consume inulin are in their mid-30s or late 40s. While the group in their late 40s are slowly growing fond of supplements, the group in their mid-30s is enthusiastic about taking them. All of these elements will cause the US inulin market to grow at a CAGR of 6% during the forecast period.

What are the Market's Growth Prospects for Inulin in the United Kingdom?

One of the most lucrative markets for the inulin industry is expected to be the UK. because there are favourable regulatory policies for incorporating functional ingredients, particularly in the end user segment for food and beverages. As a result, the UK market is anticipated to post a consistent CAGR of 5% over the course of the forecast period.

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Important conclusions from the market study

·         The inulin market will probably reach $1 billion by the end of 2021.

·         Inulin-derived chicory roots are preferred, with a CAGR of 6.5 percent.

·         Due to its simple solubility, the consumption of powdered inulin is expected to increase at a CAGR of 6%.

·         Sales of organic inulin are expected to increase by 5% CAGR in terms of value until 2031.

·         By 2031, inulin for functional foods and beverages will generate revenues of US$ 170 million.

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