Global whole grain, high fiber foods market to reach $27.6 B by 2017
According to Global Industry Analysts Inc., the global market for whole grain and high fiber foods is forecast to reach $27.6 billion by the year 2017. Key factors driving market growth include introduction of new and innovative products with improved tastes and flavors; increasing attention towards health and growing consumer awareness; release of the 2010 Dietary Guidelines for Americans, as well as the MyPyramid food guidance system; and increasing popularity of high-fiber diets. Additionally, the growing health concerns pertaining to conditions, such as childhood obesity, geriatric nutrition, and diabetes in the United States, are also expected to drive the demand for whole grains and high fiber foods.
The report found that the U.S. constitutes the largest regional market for whole grain and high-fiber foods. Americans are currently faced with increasing health-related risks associated with the consumption of diet based on refined grains. To deal with the situation, consumers are moving towards food products that contain whole grains. Consequently, food manufacturers are currently developing and introducing innovative, healthy, and tasty products that are based on whole grains. Europe and Asia-Pacific are the next major markets for whole grains and high-fiber foods. Asia-Pacific represents the fastest growing regional market, displaying a compound growth rate of 6.82% through 2017.
By product segment, cereals represent the largest segment in the whole grain and high-fiber foods market. Breakfast cereals, either hot or cold, constitute the staple food for consumers across the world. The ready-to-eat (RTE) cereal segment offers breakfast products that are quick and convenient to prepare.
Baked foods are poised to emerge as the fastest growing market over the analysis period. The increasing demand for natural bakery products with ingredients such as fiber and whole grain is expected to fuel the overall demand for baked food. The recommendations pertaining to the consumption of whole grain-based products are expected to significantly benefit the high-fiber bakery industry, which would enable the segment to overcome the mature conditions being witnessed in recent years.
