ALBANY, N.Y., June 3, 2021 /PRNewswire/ -- Rapid lifestyle changes coupled with unhealthy dietary habits, especially across the urban populace have increased the occurrence of numerous health issues such as constipation and others. With the expansive awareness about the importance of psyllium, it is attracting exponential demand from the food and beverage and the healthcare sector. Thus, these factors bode well for the growth of the psyllium products market.
The term 'psyllium' is used for describing the members of the Plantago plant genus. Psyllium is an herb and is used as a bulk-forming laxative and as a dietary fiber. Their gel-forming nature also acts as a catalyst for growth. The linking of psyllium with a variety of health benefits brings tremendous growth prospects. Hence, these aspects bring promising growth for the psyllium products market. The widening opportunities of application reach across many sectors and end-users have also led to an increase in the growth opportunities across the psyllium products market.
The experts at Transparency Market Research (TMR) have conducted expansive research on every aspect related to the growth of the psyllium products market. Taking into consideration all the factors related to growth, the TMR analysts project the psyllium products market to expand at a CAGR of ~9.2 percent during the assessment period of 2020-2030. The global psyllium products market was valued at ~US$ 215 mn in 2020 and is prognosticated to reach US$ 525 mn by 2030.
Growing awareness about the importance of fitness and the preference of many people for healthy foods will invite exponential growth for the psyllium products market. Psyllium is used for many industrial purposes too which further helps in boosting the growth prospects. The utilization of psyllium as a binding agent and stabilizer in the food and beverage industry will bring promising growth during the tenure of 2020-2030.
Utilization in Industrial Applications along with Therapeutic Applications to Serve as a Growth Generator
Psyllium is not only used in therapeutic aspects and food products but also across varied industrial applications. The growing influence of psyllium utilization in anti-soil erosion measures will prove to be fruitful. Psyllium helps in the prevention of soil erosion and is also used in landscaping. All these factors bode well for the growth of the psyllium products market.
Expanding Aging Population and an Increase in Awareness about Fitness Levels to Add Extra Stars of Growth
The geriatric population numbers have risen rapidly over the years. The growing use of nutraceuticals by individuals in the geriatric population category will bring tremendous growth opportunities for the psyllium products market. Furthermore, the COVID-19 pandemic has made people aware of the importance of improving immunity levels and staying fit. Many individuals are attracted to nutraceuticals and dietary supplements for boosting their immunity. Hence, these aspects will have a major impact on the growth of the psyllium products market.
Inclination toward Veganism to Sow the Seeds of Growth across the Psyllium Products Market
The trend of veganism has evolved considerably over the years. Many individuals are being made aware of animal cruelty through varied initiatives and campaigns, which is increasing the popularity of veganism. Psyllium is used in a variety of plant-based products and is perfect for inclusion in diets. Psyllium husk is an ideal example of a vegan-friendly product. Thus, the emergence of psyllium as a vital ingredient in plant-based products will invite extensive growth opportunities.
Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.