South Korea Oat Fibre Market Outlook
According to a new report by Expert Market Research titled “South Korea Oat Fibre Market Size, Share, Analysis, Report, Demand, Forecast 2023-2028″, the South Korea oat fibre market reached a value of approximately USD 12.9 million in 2022. Aided by the burgeoning demand for health-centric food products and the rising utilisation of oat fibre across diverse industries, the market is expected to grow at a CAGR of 7.6% between 2023 and 2028, reaching a value of USD 19.9 million by 2028.
Oat fibre, a product obtained from the outer husk of oat grain, is often incorporated as a vital ingredient in an array of food products, such as bread, pastries, cereals, snacks, and dietary supplements. Renowned for its high dietary fibre content, oat fibre plays an integral role in digestive health, weight management, and overall wellbeing. Beyond its nutritional merits, oat fibre also exhibits remarkable water-binding, bulking, and texturising characteristics, making it an invaluable ingredient in diverse industrial applications, including food and beverages, nutraceuticals, and cosmetics.
The soaring consumer inclination towards fibre-rich food products is the primary factor driving the South Korea oat fibre market growth. As health awareness increases, there’s been a substantial swing towards diets rich in dietary fibre, leading to a swell in demand for oat fibre-infused products. Furthermore, the escalating trend of health and wellness has notably contributed to oat fibre’s increasing appeal, given its popular use in weight management supplements consumed by health-conscious individuals.
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The broadening applications of oat fibre across multiple industries also significantly contribute to the South Korea oat fibre market expansion. In the nutraceutical sector, oat fibre is utilised as a functional ingredient in the production of dietary supplements owing to its cholesterol-lowering and prebiotic properties. The cosmetic industry employs oat fibre for its moisturising and skin-soothing properties, which are integral in creating various skincare products.
Moreover, oat fibre’s characteristics make it a crucial component in the food and beverage manufacturing, where it is used as a healthy filler, thickener, and texturiser, thus increasing the South Korea oat fibre market demand. Further, the escalating demand for plant-based alternatives in the food and beverage industry has directed increased attention towards oat fibre as an apt ingredient for vegan-friendly products.
With the advent of veganism and the growing popularity of plant-based diets, oat fibre has surfaced as a key ingredient in formulating dairy-free alternatives like oat milk, thereby propelling the oat fibre market’s growth. Additionally, the South Korean government’s efforts in promoting healthier diets have resulted in favourable conditions for South Korea oat fibre market development.
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South Korea Oat Fibre Market Segmentation
The market can be divided based on product type, form, packaging, distribution channel, and end use.
Market Breakup by Product Type
- Organic
- Conventional
Market Breakup by Form
- Powder
- Tablet
Market Breakup by Packaging
- Pouches
- Jar
- Paper Bags
- Others
Market Breakup by Distribution Channel
- Direct
- Indirect
Market Breakup by End Use
- Food and Beverage
- Bakery and Confectionary
- Meat Products
- Beverages
- Others
- Dietary Supplements
- Pharmaceuticals Industry
- Animal Feed/Pet Food
- Others
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the South Korea oat fibre companies. Some of the major key players explored in the report by Expert Market Research are as follows:
- Central Fiber Chemical Inc.
- InterFiber Ltd.
- SunOpta Ingredients Group
- Others
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