As per the findings of a report published by Grand View Research, Inc.; the global PREBIOTICS MARKET is likely to reach a valuation of $ 7.11 billion by 2024. Prebiotics are fibers found in natural foods like garlic, fruits, onions, legumes, and whole grains. They help nurture the growth of various beneficial bacteria over harmful ones in the gut, thereby enhancing immunity and overall digestive health. Rising investments in the food and beverages sector for development of new food products that have prebiotics may further boost the market growth. Apart from that, high demand from dietary supplements application segment, especially in infant foods, is likely to fuel the global expansion. In addition, steadily increasing demand for fiber-rich food products due to various health benefits is also expected to spur the market in near future.
Moreover, wide usage of prebiotics in dairy products on account of high monetary gains is predicted to propel the market over the forecast period. High price associated to the R&D of ingredients along with strict regulations for the registration and labeling of new ingredients in Europe and US may hamper the market development. However, rising usage of prebiotics as a substitute to antibiotics is estimated to result in its increased demand from animal feed sectors, thereby boosting the overall market development. Growing production of various dairy products is also expected to contribute toward expansion in terms of demand and revenue. High demand from functional foods segment due to growing awareness about improving digestive health are also expected to augment the market for prebiotics in near future.
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The global prebiotics market is categorized as per ingredient, application, and region. On the basis of ingredient, the market is categorized into Mannan-oligosaccharide (MOS), inulin, Fructo-oligosaccharide (FOS), Galacto-oligosaccharides (GOS), and others. “Others” is further fragmented into oligosaccharides, chicory fructans, human milk oligosaccharide (HMO), xylooligosaccharides (XOS). On the basis of application, the market is segregated as prebiotics dietary supplements, prebiotics foods and beverages, and animal feed prebiotics. On the basis of geographies, the market is divided into Middle East and Africa (MEA), North America, Latin America, Asia Pacific, Europe.
Europe market is predicted to grow at a considerable CAGR over the forecast years on account of increased consumer awareness and concerns regarding improving digestive health. Extensive prebiotics use in functional foods and dietary supplements due to various properties such as high functionality, increased fiber content, and better texture. The Europe regional market is characterized by the constant advent of new, innovative products in all sectors. The demand for probiotics in the North America region was estimated at USD 280.0 million in 2015. Extensive demand for probiotics-enriched food items in the region is considered the key factor driving its growth.
The Asia Pacific regional market is predicted to be the fastest-growing market for prebiotics due to high demand from Japan and a few other developed economies from the region. Moreover, rising awareness among consumers about the health benefits of prebiotics is anticipated to drive the region’s development in near future. In addition, increasing cases of chronic diseases in the region, due to sedentary lifestyle, are also projected to boost the prebiotics demand and fuel the market over the forecast period.
Abbott Nutrition; Roquette America, Inc.; FrieslandCampina Domo; Jarrow Formulas; and Clasado Ltd. are some of the key companies operating in the prebiotics market. New product development and M&A activities are the key strategy followed by most of these market players to gain competitive edge. For example, DuPont Nutrition recently launched a new venture for the research and development of prebiotics and probiotics. The company has signed a multi-year partnership with APC Microbiome institute to come up with various solutions that produce a healthy microbiome for infants.
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials, and healthcare.
For more information: www.grandviewresearch.com
