A recently revamped Fact.MR report expects the market for inulin to register a CAGR of 8.2% from 2021 to 2031, expected to reach a value of US$ 2.2 Bn by the end of the said forecast period. Growth is likely to bank on the increasing consumption of functional foods & beverages aimed at boosting overall immunity of consumers and reduce chronic health problems.
From 2016 to 2020, sales experienced an incline at a CAGR of 6%. During the COVID-19 pandemic, demand spiked significantly in the pharmaceutical sector. Increase in the consumption of nutraceuticals and healthy sugar-free foods led to the increased sales.
Growing popularity of prebiotic ingredients and increasing awareness campaigns for low fat and calorie reduction are expected to fuel the global inulin market during the forecast period. Moreover, government authorized food and drugs organizations across several nations have recognized inulin as a safe product, ensuring consumer safety.
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Consistent Demand for Natural Sweeteners Driving Inulin Adoption?
Consumers are actively seeking sweeteners of both sorts, including natural and artificial sweeteners, since they are becoming more aware of the negative consequences of excessive sugar intake. Consumption of artificial sweeteners has increased in recent years, mostly with the goal of losing weight and lowering the risk of diabetes. Artificial sweeteners, on the other hand, include man-made substances that are detrimental to human health. Furthermore, artificial sweeteners have a high calorie level, which disturbs health-conscious customers.
Natural and organic sweeteners, on the other hand, have low calorie content and are free of hazardous chemicals. As a result, natural sweeteners such as agave syrup, stevia, and inulin have gained popularity. This dramatic shift in consumer adoption effectively resolves fundamental issues associated with the use of sugar and artificial sweeteners. Given that growing demand for natural sweeteners among health-conscious consumers is expected to boost inulin usage, the inulin market is expected to grow over the next decade.
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 Landscape
Manufacturers in the inulin market are spending in R&D efforts to make required changes to inulin and create higher quality inulin. Manufacturers are also concentrating on product development to guarantee that the company’s product range stays creative in light of current market trends and end-user input.
- For example, BENEO offers Orafti®, a naturally sourced fiber derived from chicory root that does not sacrifice taste or texture. It may be used to make a variety of culinary items.
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 U.S. is dominating the Inulin Market?
U.S. is the largest shareholder in the Inulin market with total revenue of US$ 285.1 Mn. The inulin consumers in the U.S. are mostly in their mid-30s and late 40s. The mid 30s section is keen on consuming dietary supplements while the late 40s section are slowly becoming fond of supplements. Owing to all these factors the US Inulin market is set to augment at a CAGR of 6% during the forecast period.
What are the Growth Prospects for Inulin Market in the U.K?
UK is predicted to be one of the most lucrative markets for the inulin industry. With the presence of favorable regulatory policies for including the functional ingredients specifically in the food & beverages end user segment. Therefore, the UK market is set to register a steady CAGR of 5% during the forecast period.
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