April 21, 2024
Fiber Supplements Market

The Global Fiber Supplements Market Driven By Rising Consumption Of Nutraceutical Products

Fiber supplements are food or edible products that contain non-digestible carbohydrate fiber that is derived from plant sources such as flaxseed, guar gum and psyllium. Fiber supplements absorb water to add bulk to stool and ease bowel movements helping reduce constipation. They are available in various forms such as capsules, chews, powder and tablets and are consumed by people who do not get sufficient fiber through diet to maintain digestive health. Fiber supplements aid in weight management, lower blood sugar levels, and reduce cholesterol 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, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

One of the key trends driving growth in the fiber supplements market is increasing consumer awareness about digestive and heart health benefits of fiber. Studies have shown that fiber can help reduce risks of developing heart diseases, diverticular disease, constipation and hemorrhoids. Consumer preference for preventive healthcare through nutrition is steering the demand for fiber supplements. Additionally, with busy lifestyles, consumers increasingly rely on fiber supplements to meet daily recommended fiber intake which is driving product innovation with natural and easy-to-consume formats like pills, chews and gummies.

Porter’s Analysis

Threat of new entrants: The threat of new entrants in the fiber supplements market is moderate. New players have to spend a substantial amount in Research and Development to develop innovative products. Bargaining power of buyers: The bargaining power of buyers in the fiber supplements market is high. Buyers have a variety of fiber supplement products to choose from across different price ranges and brands. Bargaining power of suppliers: The bargaining power of suppliers is moderate. Key raw materials for fiber supplements such as psyllium husk and inulin are available easily worldwide. Threat of new substitutes: The threat of new substitutes is high. Nutritional drinks fortified with fiber and prebiotics can act as substitutes to fiber supplements. Competitive rivalry: The competitive rivalry in the fiber supplements market is high due to the presence of many global and regional players offering similar products.

Key Takeaways

The Global Fiber Supplements Market Demand is expected to witness high growth.

Regional analysis: North America is expected to hold the leading share in the global fiber supplements market. Increasing health consciousness among consumers and rising awareness about digestive health are driving the demand for fiber supplements in North America. Europe is also anticipated to witness considerable growth in the fiber supplements market during the forecast period.

Key players: 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. Fiber supplements manufacturers are focusing on new product launches, targeting specific demographics to strengthen their presence across regions.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it