by The global Fiber Supplements Market is estimated to be valued at US$ 3.72 Bn in 2023 and is expected to exhibit a CAGR of 6.3% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Fiber supplements refer to powdered, capsule or tablet forms of dietary fiber which can be added to food or drink. They come in soluble and insoluble varieties depending on how they function in the digestive system. Soluble fiber dissolves to form a gel-like substance in the intestinal tract while insoluble fiber passes through the digestive system almost intact. Both varieties help promote regularity, aid weight management and lower cholesterol levels. Fiber supplements provide an easy way for consumers to supplement their diet with additional fiber and reap associated health benefits.
Market key trends:
One key trend in the fiber supplements market is the rise of targeted formulations tailored for specific health issues. For example, prebiotic and probiotic supplements containing fibers like inulin are manufactured to promote a healthy gut microbiome. Soluble fiber supplements high in beta-glucan concentrate on cholesterol management. In addition, the COVID-19 pandemic has increased focus on immunity and consumers are gravitating towards supplements rich in mucilage fibers like psyllium for their virus-fighting traits. Manufacturers are also expanding product lines through added ingredients like fruits, vegetables, herbs and vitamins for multi-dimensional support of gut, heart and immune health. These customized offerings catering to different wellness needs are driving demand in the market.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is low as the Fiber Supplements Market is dominated by major established players and requires high capital to setup production facilities and R&D.
Bargaining power of buyers: The bargaining power of buyers is moderate as fiber supplements are available from multiple manufacturers and brands. However, switching costs for buyers are low.
Bargaining power of suppliers: The bargaining power of suppliers is low due to the availability of substitute raw materials and less differentiation in supplies. Suppliers do not have pricing leverage over manufacturers.
Threat of new substitutes: The threat of new substitutes is moderate as alternative fiber food sources like fruits and vegetables may impact demand. However, supplements offer convenience over substitutes.
Competitive rivalry: Intense among existing players.
Key Takeaways
The Global Fiber Supplements Market Demand is expected to witness high growth, exhibiting CAGR of 6.3% over the forecast period, due to increasing health consciousness and gut health awareness among consumers.
Regional analysis: North America dominates the fiber supplements market owing to high dietary fiber deficiency. Western Europe is the second-largest regional market. Asia Pacific is expected to exhibit the fastest growth over the forecast period due to rising disposable incomes in the region.
Key players operating in the Fiber Supplements Market are Garden of Life, Optimum Nutrition, Metamucil, Citrucel, Nature’s Way, Walgreens, CVS Pharmacy, Renew Life, Rainbow Light, Culturelle, Align Probiotics, Phillips, Schiff, Nature Made, Puritan’s Pride, Now Foods, Solaray, Heather’s Tummy Care, Viva Naturals, Prescript-Assist. Key players are focusing on new product launches, especially vegetarian and gluten-free fiber supplements, to meet consumer demand.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
