Others is expected to be the fastest growing Segment during the forecast period 2021–2028
According to The Insight Partners market research study on “Middle East & Africa Soluble Dietary Fibers Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Type, Source and Application,” is expected to reach US$ 277.33 million by 2028 from US$ 224.13 million in 2021. The market is estimated to grow at a CAGR of 3.1% from 2021 to 2028. The report provides trends prevailing in the Middle East & Africa soluble dietary fibers market along with the drivers and restraints pertaining to the market growth. Ramping demand for soluble dietary fibers as a sugar replacement in beverages and as a prebiotic, looming sources of soluble dietary fibers, and scaling applications of soluble dietary fibers in pharmaceuticals and nutraceuticals are the major factor driving the growth of the Middle East & Africa soluble dietary fibers market. However, floating prices of fluctuation in raw material hinder the growth of Middle East & Africa soluble dietary fibers market.
In the MEA region, Turkey, South Africa, Iraq, and Israel are among the major countries with high number of COVID-19 confirmed cases and deaths. According to the International Finance Corporation, the COVID-19 pandemic has a severe impact on the economy of the Middle East & Africa which has led to decline in oil production, tourism, and remittances. The quarantine measures implemented for sanitary purposes in the region have led to standstill of several activities across diverse economic sectors. The MEA region comprises many growing economies, which are prospective markets for soluble dietary fibers vendors. The pandemic has significantly slowed down the growth of soluble dietary fibers market in the region due to volatility associated with the prices of raw materials such as fruits and vegetables, whole grains, and legumes. However, the shift in consumer dietary patterns is expected to promote the demand for soluble dietary fibers in the regional market.
The Middle East & Africa soluble dietary fibers market is segmented on the bases of type, source, application, and country. Based on type, the market is segmented into inulin, pectin, beta-glucan, polydextrose, and others. In 2020, inulin segment held the largest share in the market, and others is expected to be the fastest growing segment during the forecast period. Based on source, the soluble dietary fibers market is segmented into cereals and grains, fruits and vegetables, and others. In 2020, the cereals and grains segment held the largest share in the market and others is expected to be the fastest growing segment during the forecast period. Based on application, the market is segmented into food and beverages, animal nutrition, pharmaceuticals and nutraceuticals, and others. In 2020, food and beverages segment held the largest share in the market, and pharmaceuticals and nutraceuticals is expected to be the fastest growing segment during the forecast period. Similarly, based on country, the market is segmented into the South Africa, Saudi Arabia, UAE, and Rest of MEA. In 2020, the Rest of MEA held the largest share in the market and is also expected to be the fastest growing country during the forecast period.
Cargill, Incorporated, Kerry Group, Ingredion Incorporated, Nexira, Tate & Lyle PLC, ADM, IFF Nutrition & Biosciences are among the leading companies in the Middle East & Africa soluble dietary fibers market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market.