The 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 to 2030, as highlighted in a new report published by Coherent Market Insights.

The Fiber Supplements Market:

Fiber supplements are used as a dietary supplement and help promote regularity, digestive, and heart health. Fiber supplements are available in various forms including pills, capsules, powders, gummies and are plant-derived providing vital nutrients to the body. Daily intake of fiber supplements help improving gut health, lowering cholesterol and managing blood sugar levels.

 

Market key trends:

One of the major drivers of the fiber supplements market is increasing consumer awareness about gut and digestive health. Research shows gut health plays a key role in overall well-being. Prebiotic and probiotic fiber supplements help promote a balanced microbiome and support digestive functions. The COVID-19 pandemic further highlighted the importance of immunity and preventive healthcare. This has increased the demand for digestive and gut health supplements including fiber supplements. Manufacturers are launching innovative formulations, flavors and delivery formats to attract consumers, especially the younger demographics.

 

Porter’s Analysis

Threat of new entrants: New entrants face high production costs related to setting up manufacturing facilities for fiber supplements. Bargaining power of buyers: Buyers have high bargaining power due to availability of several brands offering similar products. Bargaining power of suppliers: Suppliers of raw materials like fiber, vitamins, and minerals have moderate bargaining power due to availability of substitutes. Threat of new substitutes: Threat from substitutes like fruits and vegetables providing fiber is low as supplements are convenient to consume. Competitive rivalry: Intense competition exists between existing players to gain market share.

 

SWOT Analysis

Strengths: Wide range of product offerings and strong brand image of key players. Weaknesses: Heavy reliance on few segments like digestive and women's health. Opportunities: Rising health awareness among consumers and growing demand from developing nations. Threats: Stringent regulations over new products and changing consumer preferences.

 

Key Takeaways

The Global Fiber Supplements Market Growth size is expected to reach US$ 6.03 Bn by 2030, expanding at a CAGR of 6.3% during the forecast period. Rising health consciousness among people is a key market driver. North America dominates currently due to high fiber supplement adoption in the U.S. and Canada. 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.

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