London-based global research firm TechNavio is anticipating significant growth for the dietary fiber market in North America. While the dietary fiber market in North America was valued at $0.62 billion in 2013, it is now expected to reach $1.08 billion by 2018, growing at a CAGR of 11.74%.
 
Globally, the market revenue for dietary fiber was valued at $1.83 billion in 2013 and is expected to reach $3.76 billion by 2018, growing at a CAGR of 15.49%.
 
The firm attributes the steady growth of the market (particularly in the U.S) in part to the large aging population, as well as the growing number of people looking to improve their health while suffering from obesity, constipation, and chronic illnesses such as heart disease, cancers, and gastrointestinal diseases.
 
However, TechNavio’s report notes that the market’s competition is fierce and expanding, making it highly fragmented and leading to pricing wars.
 
A senior analysts and co-author of TechNavio’s report stated,“The Food and Beverages Industry was the major revenue contributor to this market accounting for a 56.28% share in 2013. The Global Dietary Fiber market will be witnessing steady growth during the forecast period due to the rising global demand for dietary fibers with North America being the major market, followed by Europe, the APAC region, and the rest of the world.”
 
To determine the scenario for these vendors in the next 3-4 years TechNavio analysts conducted an in depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in order of importance.