A recently revamped Fact.MR report expects the market for inulin to register a CAGR of 8.2% from 2021 to 2031, expected to reach a value of US$ 2.2 Bn by the end of the said forecast period. Growth is likely to bank on the increasing consumption of functional foods & beverages aimed at boosting overall immunity of consumers and reduce chronic health problems.
From 2016 to 2020, sales experienced an incline at a CAGR of 6%. During the COVID-19 pandemic, demand spiked significantly in the pharmaceutical sector. Increase in the consumption of nutraceuticals and healthy sugar-free foods led to the increased sales.
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Inulin Market Key Segments
- Agave Inulin
- Chicory Inulin
- Jerusalem Artichoke Inulin
- Powdered Inulin
- Liquid Inulin
- Organic Inulin
- Conventional Inulin
By End Use
- Inulin for Clinical Nutrition
- Inulin for Dietary Supplements
- Inulin for Functional Food & Beverages
- Inulin for Dairy Products
- Inulin for Infant Formula
- Inulin for Breakfast Cereals & Cereal Bars
- Inulin for Meat Products
- Inulin for Animal Nutrition
Manufacturers in the inulin market are spending in R&D efforts to make required changes to inulin and create higher quality inulin. Manufacturers are also concentrating on product development to guarantee that the company’s product range stays creative in light of current market trends and end-user input.
- For example, BENEO offers Orafti®, a naturally sourced fiber derived from chicory root that does not sacrifice taste or texture. It may be used to make a variety of culinary items.
Key Takeaways from the Market Study
- Global inulin market likely to reach US$ 1 Bn by 2021-end
- Chicory roots derived inulin to be most preferred, growing at a CAGR of 6.5%
- By form, powdered inulin consumption to surge at a CAGR of 6%, owing to easy solubility
- Organic inulin sales to register an incline of 5% in value CAGR terms until 2031
- Inulin for functional food & beverages to yield a revenue worth US$ 170 Mn by 2031