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The global inulin market is expected to be valued at approximately USD 2.4 billion and it is projected to grow at an approximate CAGR of over 10% over the forecast period. Growing dairy industry is expected to remain a key driving factor over the forecast period of 2016 to 2024. It is used as fat replacer and texture enhancer in dairy products.
Inulin has a health promoting factors such as low fat, reduced calorie value, prebiotic effect, sugar reduction, and dietary fiber is also anticipated to witness the significant growth of the market over the forecast period. Growing pharmaceutical sector is also expected to increase the demand of inulin. Usage of inulin is safe in the pharmaceutical sector as declared by U.S FDA.
The threat of substitutes from the other prebiotic ingredients and development of synbiotics is expected to be the major restraints in the inulin market.
Inulin is considered as functional food ingredients owing to biochemical and physiological process resulting better health and reduction of risk in many diseases. Europe is expected to have abundance availability of chicory roots and its force the manufacturer to establish their manufacturing sites in this region. China is also anticipated to have a steady growth in chicory roots production.
Inulin is being replaced with the sugar products and it is expected to be the one of the major challenges in the inulin market. It tastes 10time less than the sugar taste. Inulin can also be used as ingredients in the development of foods for weight management because it can help to reduce fat, sugar, and overall calories.
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The inulin market has a wide scope application in end-use industries such as food & beverage, dairy, bakery, pharmaceutical & healthcare industries. Food & beverage is expected to increase demand of market over the forecast period. Owing to increase in gut health function and reducing sugar level.
The dairy industry is also expected to have substantial demand owing to increasing cheese, yogurts and ice cream products. As a result, growing dairy production is anticipated to fuel inulin demand over the next eight years.
Inulin includes a non-digestible fiber, which assumes a vital part in fortifying bacterial development to keep up calorie level in the human body.
This application of inulin is expected to encourage the market demand for the enrichment of dietary supplements over the next eight years. It also has wide scope application includes natural ingredients in, construction, coating, and animal feed industries.
The market is segmented on the basis of the type such as liquid and powder form. Powder based inulin are very easily soluble and dispersible in water whereas liquid based inulin shares these qualities and expands the potential application palette. Inulin exhibits the superior characteristics such as slows digestion, increases fullness and removes cholesterol as it passes through the digestive tract.
Inulin is a type of carbohydrate called as oligosaccharides which are used in food manufacturing and home cooking to improves the taste, texture, moisture level and health benefits. Compared to sugar it is ten times less the sugar taste.
Europe is dominating the growth of inulin market. In 2013, it had an overall share of over 50% of global volume. Government regulation regarding food ingredients in Europe is expected to spur the growth of the market over the next eight years.
Asia-Pacific is expected to witness high significant growth at an approximate CAGR of over 15% over the forecast period. Growing dairy industries in Asia Pacific countries such as China, India, and Japan is expected to increase the demand in this region over the forecast period.
Beverage and food industry market growth in Brazil and Saudi Arabia is anticipated to play a vital role in fueling the growth of the market over the forecast period.
Key industry players in China are expected to establish their production sites owing to abundance availability of raw materials in this region. Some of the major players operating in the market include Cargill, Jarrow Formulas, Cosucra, Sensus, and Beneo-Orafti.
Industry participants are investing heavily in R&D to develop the advanced innovative inulin products. This investment is expected to drive the healthcare and food & beverage industries for the next eight years.
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