BENEO announces multi-million dollar investment program for prebiotic chicory root fiber worldwide
BENEO has announced a multi-million investment program for the coming years to expand capacity for its prebiotic chicory root fiber production sites in Pemuco, Chile and Oreye, Belgium. The first step will see more than $33 million USD (€30 million) invested. The entire program will ensure a significant capacity increase of more than 40 percent of BENEO’s global chicory root fiber production to meet rising customer demand and drive further growth within the market. The work on both production sites is beginning in 2022.
Current market trends see a high demand in prebiotic chicory root fiber due to the versatile benefits it offers in product development. Over the past four years, the number of new product launches containing chicory root fiber inulin has grown by 50 percent globally, with the market expected to reach 11.48 billion USD in 2028. BENEO’s latest investment will allow for continued fulfillment of market needs within the food and feed industry, while demonstrating the company’s commitment to growing its chicory root fiber business.