Increasing number of health-conscious individuals are consuming food that contains additional minerals and fibers. The food offered by different manufacturers today goes through a lot of processing, which takes away the necessary minerals and fibers from it. This factor has influenced the sales of functional ingredients that add value to the food by providing necessary nutrients. Functional food is seen as an alternative to different supplements that are used by core supplement users. Psyllium husk powder is used as a wonder product in health drinks, beverages, ice cream, bakery products, rice cakes, jams, instant noodles, breakfast cereals, and others, to improve the fiber content of the food. Increasing disease occurrence has led to rising sales of mineral- and fiber-rich food and beverages, thus, driving the growth of the psyllium husk powder market.
The global psyllium husk powder market has witnessed substantial growth in the past few years, and this trend is expected to continue through the course of the forecast period (2020 to 2030). The market is estimated to rise at a steady CAGR of more than 6% over the forecast period.
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Key Takeaways from Psyllium Husk Powder Market Study
- The 99% pure psyllium husk powder segment accounts for the largest value share in the global psyllium husk powder market, owing its high demand for application in the dietary supplements industry.
- By application, the pharmaceuticals segment is expected to witness substantial growth, owing to the increasing use of psyllium husk powder in premium pharmaceutical applications.
- India is the leading producer and exporter of psyllium husk and psyllium husk powder in the world. The U.S. is the leading importer of psyllium husk powder, followed by a few Western European countries.
- Health-conscious consumers from developed regions are utilizing psyllium husk powder in their regular diets to help promote overall digestive health.
- The COVID-19 pandemic has affected the operations of most sectors. However, there has been surging demand for dietary supplements due to the ongoing outbreak. As psyllium husk powder is commonly used in these supplements, their sales have seen a rise over the past few months.
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Psyllium Husk Powder Market: Competitive Landscape
The psyllium husk powder market is fragmented in nature. Key players operating in the space are adapting their market strategies to benefit the most from prevailing market trends. Manufacturers are more focused on incorporating modern technology in the production of psyllium husk powder. Market players are focusing on the certification of their products to increase their export potential in this competitive market. Additionally, manufacturers are also focused on expanding their product portfolio and establishing strategic alliances to gain a larger share in the global psyllium husk powder market.
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