Wheat Fiber Market to Reach $1.63 Bn, Globally, by 2030 at 6.5% CAGR: Allied Market Research.

PORTLAND, Ore., Feb. 7, 2022 /PRNewswire/ -- Allied Market Research published a report, titled, "Wheat Fiber Market by Nature (Organic and Conventional), and Application (Food & Beverages, Pharmaceuticals, Animal Feed, and Others): Global Opportunity Analysis and Industry Forecast, 2021–2030". According to the report, the global wheat fiber industry generated $864.1 million in 2020, and is anticipated to generate $1.63 billion by 2030, witnessing a CAGR of 6.5% from 2021 to 2030.

Prime determinants of growth

Numerous health benefits associated with dietary fibers, increase in purchasing power, surge in demand for wheat fiber supplements, and rise in health & wellness trend among the target customers drive the growth of the global wheat fiber market. However, threat of counterfeit dietary supplements and variable standards & guidelines across regional regulatory bodies hinder the market growth. On the other hand, untapped potential in developing markets presents new opportunities in the coming years.

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Covid-19 Scenario

• The outbreak of the Covid-19 pandemic has had a positive impact on the growth of the global wheat fiber market.
• Consumers with the belief that wheat fiber increases the immunity and could help them fight against coronavirus disease boost the adoption of wheat fiber, which, in turn, propels the market growth.
• Consumers have become more concerned about the overall health and wellness than before, which is expected to drive the growth of the market post-pandemic.

The conventional segment to maintain its leadership status throughout the forecast period

Based on nature, the conventional segment held the highest market share in 2020, accounting for more than four-fifths of the global wheat fiber market, and is estimated to maintain its leadership status throughout the forecast period. This is attributed to the bulk requirement conventional wheat fiber at low prices. Moreover, the organic segment is projected to manifest the highest CAGR of 7.2% from 2021 to 2030, owing to rise in consumer preference toward organic products.

The food & beverages segment to maintain its lead position during the forecast period

Based on application, the food & beverages segment accounted for the largest share in 2020, contributing to more than two-fifths of the global wheat fiber market, and is projected to maintain its lead position during the forecast period. This is due to the health benefits associated with the consumption of wheat fiber-based food. However, the animal feed segment is expected to portray the largest CAGR of 8.8% from 2021 to 2030, owing to increase in demand for meat products.

North America to maintain its dominance by 2030

Based on region, North America held the highest market share in terms of revenue 2020, accounting for nearly two-fifths of the global wheat fiber market. Rise in population and improved lifestyle are the key factors that drive the growth of the wheat fiber market. However, the Asia-Pacific region is expected to witness the fastest CAGR of 8.3% during the forecast period, owing to the high demand for fiber-based food products in this region.

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Leading Market Players

• Archer-Daniels-Midland Company
• Cargill, Inc.
• DuPont de Nemours, Inc.
• Grain Processing Corporation
• Ingredion Incorporated
• J. RETTENMAIER
• SÖHNE GmbH Co KG
• Roquette Frères
• Südzucker AG
• SunOpta, Inc.
• Calyxt, Inc.

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