Prebiotics Market Analysis By Ingredient (FOS, Inulin, GOS, MOS), By Application (Food & Beverages, Animal Feed, Dietary Supplements) And Segment Forecasts To 2024
NEW YORK, Oct. 26, 2016 /PRNewswire/ -- The global prebiotics market is expected to reach USD 7.11 billion by 2024, according to a new report by Grand View Research, Inc. Growing demand for fiber rich food products is expected to drive the market.
Rising investment in the food & beverage industry for innovation and development of new food products enriched with prebiotics coupled with rising demand in dietary supplements application particularly in infant foods is expected to propel market growth over the forecast period. In addition, rising use of prebiotics in animal feed is expected to drive the demand. Growing emphasis on improving overall health is also expected to fuel product demand over the next eight years.
Emergence of prebiotics as an alternate to antibiotics is expected to fuel demand in animal feed applications. Increasing dairy production is expected to have a positive impact on market over the next eight years.
Further key findings from the report suggest:
Inulin accounted for over 40.0% of the global prebiotics market in 2015 in terms of revenue. Rising health benefits coupled with easier availability from natural sources including banana, garlic is expected to drive the market demand. Inulin is also widely used to treat diabetes owing to its increased antioxidant activity thus propelling demand.
Galacto-oligosaccharides (GOS) accounted for a significant share owing to growing use in dietary supplements. GOS have several health benefits including improving bone mineralization by improving calcium absorption, preventing colon cancer, stimulating bifidobacteria growth and substituting human milk oligosaccharides. These health benefits are expected to drive the market demand.
North America demand for prebiotics was valued over USD 280.0 million in 2015. Rising demand for prebiotics enriched food products among consumers in the region to improve their digestive health is expected to drive the market demand. Prebiotic dietary supplements are expected to witness significant growth owing to rising focus on preventive healthcare.
Dietary supplements application is expected to grow at a fastest CAGR on account of increasing consumption in Europe and North America owing to rising health consciousness among consumers and growing importance of prebiotics in weight management in the region. Growing innovation in the field of prebiotic rich protein/fiber supplements is expected to propel growth over the forecast period.
Global prebiotics industry was highly fragmented on account of presence of numerous players. FrieslandCampina Domo, Paramus, NJ, was a key market player in 2015. The company product portfolio includes functional peptides and hydrolysates, bioactive proteins and galacto-oligosaccharides for use in nutraceutical products. Friesland markets its prebiotics under the brand name, Vivinal GOS intended for fruit juices and milk products.
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