The latest market report published by Credence Research, Inc. “Global Inulin Market – Growth, Share, Opportunities, Competitive Analysis, and Forecast, 2016 – 2023” the inulin market was valued at USD 1,407.0 Mn in 2015, and is expected to reach USD 2,615.0 Mn by 2024, expanding at a CAGR of 9.5% from 2016 to 2022.
Browse the full report Inulin Market – Growth, Share, Opportunities, Competitive Analysis, and Forecast, 2016 – 2022 at http://www.credenceresearch.com/report/inulin-market
Global inulin market is expected to witness a high growth in future owing to the increasing awareness about prebiotic ingredients and their extensive utilization in food and beverages industry. Inulin is also used in various dairy product formation such as cheese, ice-cream and yogurts. Hence, the growth in dairy industries is expected to drive additional growth in inulin market during the forecast period. Moreover, high growth in pharmaceuticals industry globally is also having high positive impact on the global inulin market. Moreover, fast growing significance of nutraceuticals owing to rising health awareness is projected to increase demand for inulin as a functional ingredient. On the type of applications the global inulin market is segmented into food and beverages, dietary supplements, pharmaceutical and others. Emergence of prebiotics as an alternate to antibiotics is expected to fuel demand in animal feed applications. Increasing dairy production is expected to have a positive impact on market over the forecast period.
Europe accounts for the largest market share in inulin market. Regulatory scenario aimed at supporting fortification of food with prebiotic ingredients is expected to fuel inulin demand in the region. Growing demand to substitute prebiotics and development of synbiotics is expected to remain one of the key restraining factor for the market. Moreover, Asia Pacific is anticipated to witness highest growth at an estimated CAGR of about 9.8% from 2016 to 2022 in terms of revenue as it is witnessing positive dairy industry outlook in India, China, Australia and New Zealand. Gaining popularity of functional foods such as infant food formula in China, Japan and India is further expected to fuel inulin demand over the forecast period.
Market Competition Assessment:
The inulin market is observed as the most competitive and budding market comprising large number of players. The market is dominated by several players, depending on their major competencies. Some major market players include Jarrow Formulas, Beneo-Orafti, Sensus and Cargill incorporated.
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Key Market Movements:
- Significant development in the field of functional ingredients is increasing the demand of inulin globally
- The major opportunity in inulin market is the high demand for dietary supplements.