The Corn Fiber Market slated to surpass $1.8 billion by 2028, Says Global Market Insights Inc.
The growth of the corn fiber market is driven by the expanding pharmaceuticals industry, rising demand for dietary supplements, increasing consumer preference for organic food products, and growing animal feed sector, says this report.
SELBYVILLE, Del., March 22, 2022 /PRNewswire/ -- As per the report by Global Market Insights Inc., the Corn Fiber Market was estimated at USD 790 million in 2021 and is expected to reach a valuation of around USD 1.8 billion by 2028, registering with a CAGR of 13% from 2022 to 2028. The report provides a detailed analysis of market size & estimations, drivers & opportunities, top winning strategies, competitive scenario, wavering market trends, and major investment pockets.
Corn fiber is a carbohydrate that is made through the enzymatic hydrolysis of corn starch. It finds extensive usage in dairy products, fruit drinks, prepared foods, baked goods, beverages, and meal replacement drinks. Surging need for high fiber ingredients in animal feed has boosted the demand for corn products, thereby impelling market growth in recent years. Notably, high consumption of healthy snacks and nutritional beverages is set to create massive growth potential for the market through the forecast period.
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Corn fiber offers several benefits like enhanced lipid metabolism and reduced blood glucose and insulin response, which has supported product adoption in the pharmaceutical industry. Owing to these factors, the corn fiber market share from the pharmaceutical application segment is poised to observe substantial growth through 2028.
On the other hand, the textile application segment is primed to garner a notable valuation by the end of 2028, growing at a sturdy pace over the review timeline. Mounting product adoption in textile applications owing to vital features like superior comfort, environment friendliness, and heat and stain resistance is speculated to foster segmental outlook in the coming years.
Key reasons for corn fiber market growth:
1. Mounting adoption in beverages.
2. High consumption in textile applications.
3. Prevalent utilization in pharmaceuticals industry.
4. Growing usage as nutritional additives in dietary supplements.
2028 forecasts show 'beverages' segment retaining its dominance:
In terms of application, the beverages segment is slated to register solid growth at a CAGR of more than 13% through the study timeframe to be valued at above USD 370 million by 2028. Growing awareness pertaining to low-calorie and sugar-free beverages is foreseen to drive segmental development in the forthcoming years.
North America to maintain top status in terms of revenue:
On the regional spectrum, the North America corn fiber industry is anticipated to exceed a valuation of USD 700 million by 2028. Soaring demand for high fiber foods, coupled with widespread availability of maize, is likely to support regional market growth over the forecast timespan.
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Impact of COVID-19 pandemic on corn fiber market:
Following the onset of COVID-19, it was observed that a large number of patients infected with the novel coronavirus experienced gastrointestinal symptoms like nausea, diarrhea, abdominal pain, and so forth. To that effect, some studies found that a diet rich in fiber could help control the inflammation caused by COVID-19. As a result, growing prominence of fiber has positively influenced the uptake of corn fiber in varied industry verticals, which has facilitated market growth during the pandemic.
Leading market players:
Major companies functioning in the global corn fiber industry include Cargill Incorporated, Archer Daniels Midland Company, Ingredion Incorporated, Taste & Lyle PLC, HL Agro, Roquette Freres, Grain Processing Corporation, J. Rettenmaier & Sohne GmbH & Co. KG, SunOpta, Inc., Doshi Group, and others.
About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider. Offering syndicated and custom research reports, growth consulting and business intelligence services, Global Market Insights Inc. aims to help clients with penetrative insights and actionable market data that aid in strategic decision making.
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SOURCE Global Market Insights Inc.
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