San Jose, Calif. – A new report on the whole grain and high-fibre foods market has found that globally the market will reach US$27.6 billion by the year 2017.
Global Industry Analysts Inc. (GIA) released the report called Whole Grain and High Fibre Foods in April.
The report says the factors driving the growth include:
• the introduction of new and innovative products with improved tastes and flavours;
• increasing attention toward health and growing consumer awareness; and
• increasing popularity of high-fibre diets.
GIA says the U.S. constitutes the largest regional market for whole grains and high-fibre foods, which is likely due to the launch of the new Dietary Guidelines for Americans, as well as the MyPyramid food guidance system.
Americans are also currently faced with increasing health-related risks associated with consuming refined grains. To deal with the situation, consumers are moving toward 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 fibre foods. Asia-Pacific represents the fastest growing regional market, displaying a compound growth rate of 6.82 per cent through 2017.
By product segment, cereals represent the largest segment in the whole grain and high fibre 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 convenient to prepare and consume less time. In recent years, food companies have faced the ire of nutritionists due to the “unhealthy” nature of these products, says the report. Consequently, manufacturers have developed and introduced several products that involve healthy ingredients such as whole grains.
Wholegrain cereals are good sources of various minerals, phytochemicals and vitamins. Cereal contains less saturated fat, but includes a good amount of polyunsatured fats, which comprise omega 3 linolenic acid. Cereals are also rich in fibre and can provide a considerable amount of daily nutrient requirements.
The concept of ready-to-eat breakfast cereals has become common across the world, particularly in the developed regions of the world. Grain-based cereals were introduced as alternatives to earlier breakfast tradition involving porridge or gruel, which was grain cooked in milk or water.
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 fibre 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-fibre bakery industry, which would enable the segment to overcome the mature conditions being witnessed in recent years.