FDBusiness.com

According to a new report from Grand View Research, the global market for fibres and speciality carbohydrates is expected to reach $9.84 billion by 2024.

Increasing awareness of gut health among consumers in the US, Germany and China is expected to upscale the requirement of fibres over the next eight years, the insights company said. Furthermore, rising concerns over obesity and gastrointestinal disorders are projected to promote the use of nutritionally enriched foods with reduced cholesterol levels, which, in turn, will drive market growth over the forecast period.

Revenue across the entire fibres and speciality carbohydrates market was $1.42 billion in 2014, according to Grand View Research. Rising consumption of food items with a high level of nutrition content, including breakfast cereals and fortified bread, are expected to have a substantial impact on the market.

Furthermore, an increasing awareness towards the nutritional advantages associated with fibres in the food and beverage is expected to expand the market’s size over the next eight years.

Other key findings from the report include that dietary supplements are forecast for volume growth at a compound annual rate of 8.4% between 2016 and 2024, demand for fibres and speciality carbohydrates are expected to witness growth in light of increasing use of dairy-based derivatives in the UK and France, and the Asia-Pacific market is projected to see revenue growth at a compound annual rate of 9.2% between 2016 and 2024.

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services.