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Inulin Market Share, Size, Trends, Industry Analysis Report, By Application (Pharmaceutical, Dietary Supplements, Food & Beverages, Others); By Region; Segment Forecast, 2021 - 2028

  • Published Date:Oct-2021
  • Pages: 101
  • Format: PDF
  • Report ID: PM1276
  • Base Year: 2020
  • Historical Data: 2016 - 2019

Report Summary

The global inulin market size was valued at USD 1.36 billion in 2020 and is expected to grow at a CAGR of 7.2% during the forecast period. There has been an increasing demand for inulin owing to rising consumer awareness regarding health and wellness, nutritional requirements, and fitness. Inulin offers health benefits such as improved gut health, assistance in weight loss, and enhanced heart health.

Inulin Market Size
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It is being used in food and beverages to decrease risks associated with hypertension and diabetes. Increasing consumer concerns regarding weight management and high sugar intake have increased its sale over the years. Growing consumer interest in natural and organic products coupled with growing use as prebiotic is expected to supplement the market growth.

The outbreak of COVID-19 has resulted in a slightly increased demand for inulin owing to its role in improving gut health, diabetes, and cholesterol. Consumers are purchasing immunity-boosting and nutritious supplements in an attempt to fight against the virus. The pandemic has created health awareness among consumers regarding the purchase of sustainable and organic food products.

However, the COVID-19 outbreak has disrupted the supply chain for inulin across the globe. The surging demand has led to a shortage of products in stores as well online platforms. Scarcity of raw material, decreased deliveries, lockdown, and reduced workforce have severely hampered the industry. Consumers are expected to possess knowledge and awareness regarding nutrition and preventive healthcare post-pandemic, positively affecting the demand in the future.

Industry Dynamics

Growth Drivers
The growing inclination towards consuming food products with health benefits and modifying consumer lifestyles are factors accelerating the market's growth. Consumers are increasingly purchasing nutraceuticals to boost immunity, enhance digestion and improve hormonal balance in the body.

The increasing geriatric population and growth in disposable income of consumers have further aided the market growth. Growing application in the dairy sector coupled with increasing use in processed food owing to its low-calorie content has accelerated the market growth. New product launches and acquisitions by leading players in the market coupled with increasing demand from emerging economies have increased the demand for inulin.

The new additions include Remyline O AX DR, which comprises an organic waxy rice starch, and Orafti Organic, which includes organic chicory root fiber. Through Orafti Organic, the company offers natural prebiotic fibers to improve the texture and taste of products such as baked goods, dairy, and confectionery. It also reduces fat and sugar intake while offering several health benefits. In January 2021, Waitrose, a UK-based supermarket, launched a new brand with products to improve gut health. The new collection of products comprises prebiotics and contains Bacillus coagulants, calcium, and chicory inulin.

Report Segmentation

The market is primarily segmented on the basis of application, and region.

By Application

By Region
  • Pharmaceutical
  • Dietary Supplements
  • Food & Beverages
  • Others
  • North America (U.S., Canada)
  • Europe (Germany, UK, France, Italy, Spain, Netherlands, Austria)
  • Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia)
  • Latin America (Brazil, Mexico, Argentina)
  • Middle East & Africa (Saudi Arabia, South Africa, Israel, UAE)

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Insight by Application

On the basis of application, the market for inulin is segmented into pharmaceutical, dietary supplements, food & beverages, and others. The demand for inulin is expected to be high from the food and beverages segment. Inulin is low in calories and high in fibers. It boosts digestive health by slowing digestion, increasing fullness, and reducing cholesterol absorption from the digestive tract.

Inulin is used in various food products such as cheese, yogurt, ice cream, baked goods, and confectionery. It is utilized as a fat substitute in margarine and salad dressings on account of its creamy consistency. It can also be used to replace some of the flour in baked goods. Changing lifestyle, rising disposable income of consumers, and greater demand for natural ingredients boosts the growth of this segment.

Geographic Overview

Europe dominated the global inulin market in 2020. This region comprises Germany, UK, France, Italy, Spain, Netherlands, and Austria. Greater level of health consciousness has encouraged consumers to include functional ingredients in their diet. The use of inulin in dairy, confectionery, and baked goods to reduce calorie and sugar intake has increased in the region. Rising awareness regarding weight loss and the benefits of eating healthy has resulted in an increased demand for inulin. The market has registered a significant increase in the sales of ready-to-eat and organic food products and beverages, driving the market growth for inulin.

Competitive Landscape

The leading players in the inulin market include Adept Impex Private Limited, Beneo Remy NV, Beneo-Orafti SA, Cargill Inc., Ciranda Inc., Cosucra Groupe Warcoing SA, Fenchem, Inc, Hebei Vilof Agrotech Co. Ltd, Jarrow Formulas, Nova Green Inc., Sensus BV., Shandong Baolingbao Biotechnology Co. Ltd, The Ingredient House, The Tierra Group, and Wuxi Cima Science Co. Ltd

These players are expanding their presence across various geographies and entering new markets in developing regions to expand their customer base and strengthen their presence in the market for inulin. The companies are also introducing new innovative products in the market to cater to the growing consumer demands.

Inulin Market Report Scope

Report Attributes

Details

Market size value in 2020

USD 1.36 billion

Revenue forecast in 2028

USD 2.08 billion

CAGR

7.2% from 2021 - 2028

Base year

2020

Historical data

2016 - 2019

Forecast period

2021 - 2028

Quantitative units

Revenue in USD million/billion and CAGR from 2021 to 2028

Segments covered

By Application, By Region

Regional scope

North America, Europe, Asia Pacific, Latin America, Middle East & Africa

Key companies

Adept Impex Private Limited, Beneo Remy NV, Beneo-Orafti SA, Cargill Inc., Ciranda Inc., Cosucra Groupe Warcoing SA, Fenchem, Inc, Hebei Vilof Agrotech Co. Ltd, Jarrow Formulas, Nova Green Inc., Sensus BV., Shandong Baolingbao Biotechnology Co. Ltd, The Ingredient House, The Tierra Group, and Wuxi Cima Science Co. Ltd

 

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