The fiber supplements market has witnessed significant growth in the recent past on account of the increasing awareness about the importance of gut and digestive health among people. Fiber supplements contain soluble and insoluble fibers that provide various health benefits such as helping promote regularity, managing weight, and improving heart health. Insoluble fiber adds bulk to the stool and helps food move through the digestive tract and stimulates peristalsis. Meanwhile, soluble fiber dissolves in water and forms a gel-like substance in the stomach and intestines, helping lower blood cholesterol and blood sugar levels.
The Global fiber supplements market is estimated to be valued at US$ 4.29 Bn in 2024 and is expected to exhibit a CAGR of 10% over the forecast period 2024 To 2031.
Key Takeaways
Key players operating in the fiber supplements market are Panasonic Corp Denso, Harman International, Tom-Tom, Continental AG, Bosch, Blaupunkt Inc., Magneti Marelli, Alpine Electronics Inc., Kenwood, Delphi, Visteon, Clarion Corp., Bose, Pioneer, and Aisin. Key players such as Danone, Nestle, Cargill, and Kellogg’s have wide offerings in the fiber supplements category that have been driving the market growth.
The Fiber Supplements Market Demand is growing significantly with increasing health concerns and changing lifestyles of people. The busy work schedules and hectic lifestyles leave little time for proper diet, further driving the demand for convenient fiber supplements. Also, the growing awareness about the various health benefits of fiber intake is a major factor stimulating the sales of fiber supplements globally.
The fiber supplements market is witnessing robust expansion fueled by surging demand from key regions including North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. Manufacturers eyeing new opportunities are strengthening their distribution channels and launching innovative products with customized fiber blends as per the requirements of regional consumers.
Market key trends
Increasing demand for clean label and organic fiber supplements is a major trend witnessed in the market. Consumers are increasingly preferring supplements with natural, plant-derived fibers and no artificial additives or preservatives. This is driving manufacturers to focus on sourcing organic and non-GMO certified fibers and developing clean label products.
Porter’s Analysis
Threat of new entrants: The fiber supplements market requires significant R&D investment for product development. This makes the entry of new players difficult in this industry.
Bargaining power of buyers: Buyers have moderate bargaining power as there are many established brands offering fiber supplements. However, buyers can negotiate on price based on bulk orders.
Bargaining power of suppliers: The suppliers of raw materials like psyllium husk, inulin, wheat dextrin have significant influence on brands as these are key ingredients used. Suppliers can influence prices based on availability and demand of raw materials.
Threat of new substitutes: There exists threat from alternative products like probiotics, prebiotics supplements. However, fiber supplements are unique with focused on increasing dietary fiber intake.
Competitive rivalry: The market is consolidated with top players occupying majority share. Companies compete based on product quality, new product launches, brand image, and pricing.
Geographical Regions
North America is the largest market for fiber supplements currently accounting for over 40% of value share globally. The demand is primarily driven by increasing health consciousness and awareness about digestive and heart health benefits of fiber intake among consumers.
Asia Pacific region is expected to be the fastest growing market during the forecast period. Countries like China, India are projected to offer lucrative opportunities driven by rising disposable incomes, growing urban population and health & wellness trend in the region. Rapid economic growth along with focus on preventive healthcare will further aid the market expansion.
Europe follows North America in fiber supplements consumption majorly attributed to rising obese population, increasing cases of lifestyle disorders like diabetes, cardiovascular diseases. Countries including Germany, UK, France, Italy are major European markets.
Latin America and Middle East & Africa markets are at nascent stage currently but indicate promising growth potential over the coming years supported by improving economic conditions, health infrastructure and health conscious consumer base especially in Brazil, Mexico, Argentina in Latin America and GCC countries in MEA region.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
