Dietary fibers market forecast to hit USD4.31 billion by 2020

BY 2020, the global dietary fibers market is expected to reach USD4.31 billion in value by 2020, at a CAGR of 13.2%. Factors such as health issues, diet consciousness, advanced technologies, increase in disposable income, and rise in the middle-class population as market drivers, cites new a new report from MarketsandMarkets.

Growth in this market is a result of high demand in most countries, and companies are expanding to meet demand for soluble and insoluble dietary fibers, which are used in food and beverages, animal feeds, pet food and pharmaceutical products.

The functional foods sector is the biggest market by application, where the pharmaceutical supplements market is expected to witness fast growth. In functional food applications, the dairy segment was estimated to be the largest market in 2014. The report further studies other key aspects of the market, which includes Porter's analysis, competitive landscape, SWOT, and supply chain. Moreover, profiling of important market players have also been conducted.