Prebiotics market growth outlook with industry review and forecasts
Posted: Aug 21, 2017
Prebiotics market has gained immense recognition in the recent years due to various health benefits of prebiotics which are increasingly appealing to the health-conscious population. Growing emphasis on improving digestive health and enhancing gut functionality are together responsible for the growth of prebiotics industry. As per a report by Global Market Insights Inc., Prebiotics Market is anticipated to surpass USD 7.5 billion with expected gain at a rate of 11.5% over the period of 2016-2023. Rising concerns about obesity and other lifestyle diseases such as diabetes, CVD, and intestinal related diseases will enable the consumers to opt for prebiotics ingredients and dietary supplements, in turn fueling the prebiotic market share.
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Prebiotics acts as a support system to probiotics, in simple terms probiotics are the beneficial bacteria and prebiotics are its food supplements. Prebiotics naturally exits in small portion in certain foods, which can be easily added to the groceries such as wheat bran, bananas, onions, garlic, and food products such as table spreads, cereals, biscuits, breads, and yoghurts. The common types of prebiotics ingredients are inulin, galacto-oligosaccharides (GOS), fructo-oligosaccharides (FOS), and mannan-oligosaccharide (MOS). Increasing intake of these dietary supplements, owing to its tremendous health benefits will favor the growth of prebiotics market.
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Rising intake of inulin ingredient which helps in maintaining cholesterol levels and improving digestion will propel the prebiotics industry. Inulin market size is anticipated to surpass demand of 550 kilotons by 2023. Consumption of GOS based ingredients improves mineral absorption and relieving constipation, thereby surging prebiotics market size. MOS ingredient which is obtained from yeast of saccharomyces cerevisiae is anticipated to surpass USD 800 million by 2023.
The global prebiotics industry is segmented into animal feed, dietary supplements, and food & beverage industry. Rising use of prebiotics in cattle feed to enhance the immune system and metabolism of animals is expected to boost the overall demand for prebiotics market. Dairy, dry food, cereals, and fermented meat products in the food & beverage industry is another lucrative application augmenting the prebiotic market. The growth prospects and industry parameters in the application landscape of the global prebiotics market is as follows:
- Dairy products application worth 2.1 billion in 2015, dominated the prebiotics market. Increasing sugar free and fat free products penetration due to high growth in obesity and diabetes will drive the dairy application demand in prebiotics industry.
- Animal feed application is projected to exceed USD 750 million in the coming six years. MOS ingredient is majorly used in the formulations of animal feed for refining gut health of aquaculture poultry, swine, and bovine.
- Fermented meat based products application is anticipated to witness maximum gains, owing to its properties such as improving fiber functionality, fat replacement, and stability & texture improvement.
Taking into consideration the regional outlook, North America prebiotics market is estimated to surpass a volume of 155 kilotons demand by 2023. US led the regional growth due to extensive use of prebiotics in animal feed ingredients for heath and quality of meat products.
Asia Pacific prebiotics market witnessing highest gains, is expected to grow significantly with a value generation of USD 2.5 billion in the coming years, owing to high demand from China and Japan. Increasing prevalence of chronic disease, high demand for protein, and increasing consumer spending capacity has fueled the prebiotics industry share. China and India prebiotic market are likely to witness ingredients demand over 495 kilotons in the coming six years.
Europe prebiotic industry is anticipated to register a CAGR of 9% over the period of 2016-2023. Growing food & dietary supplement application and rising digestive health concerns among consumers will boost the regional outlook.
Global prebiotics market share continues to be fragmented and highly competitive. The key industry participants include Beghin, FrieslandCampina, BENEO GmbH, Cargill, and Roquette.
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services.