Global Prebiotic Ingredients Market: Snapshot
The global prebiotic ingredients market is benefitting from the rising demand for functional food ingredients in everyday food. Health-savvy consumers looking for natural ingredients based food items coupled with increasing purchasing power leading to high spending on natural ingredients based foods are having a positive influence on the sales of prebiotic based products. Key players in the market are leveraging this opportunity to undertake initiatives to understand the nutritional profile of foods, which in turn, helps understand their health benefits.
Apart from this, rising acceptance of benefits of prebiotic based products to help reduce obesity level is benefitting the prebiotic ingredients market. As per the World Health Organization, the declining obesity level among Americans since 2010, which is related to consumption of prebiotic based products is leading to a sizeable demand for prebiotics in this region.
However, lack of knowledge among consumers about the difference between probiotics and prebiotics is challenging the growth of the market to some extent.
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As per a report by Transparency Market Research, the global prebiotic ingredients market is likely to expand at a healthy 10.3% CAGR between 2017 and 2025 in terms of revenue. Rising at this pace, the prebiotic ingredients market is expected to attain a value of US$7,687.9 mn by the end of 2025 from its estimated worth of US$3,512.8 mn in 2017.
Demand for Root Sourced Prebiotics Supersede Amongst other Sources
The report divides the prebiotic ingredients market into fructo-oligosaccharide, galacto-oligosaccharide, mannan-oligosaccharide, inulin, and others depending upon ingredient. Amongst all, inulin is estimated to hold 34.3% of market share by the end of 2017. This is owing to its vast applications in food, beverage, confectionery, and bakery industries. In terms of application, the segments into which the global prebiotic ingredients market is divided are food & beverages, dietary supplements, animal feed, and pet food.
By source, the global prebiotic ingredients market is segmented into vegetables, cereals, root, acacia tree, and others. Of them, root segment is estimated to hold the leading 46.5% of market share by 2017- end. Root has emerged as a key segment as the demand for prebiotics sourced from plant roots is higher than the one procured from grains and vegetables.
Rising Demand for Functional Foods Make Asia Pacific Leader
Geography-wise, North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa are the key regions that divide the prebiotic ingredients market in this report. Vis-à-vis volume and revenue, Asia Pacific is predicted to dominate the overall market by the end of 2017. Powered by China, the region is expected to display the leading CAGR of 11.1% between 2017 and 2025 to attain a significant share in the market in terms of revenue over the forecast period. This is mainly because of rising awareness about functional foods and affordability of the product. Furthermore, changing lifestyle and rising consumer awareness about the importance of health-benefitting foods is contributing to the growth of this regional market.
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Cargill Incorporated, Koninklijke Friesland Campina N.V., Cosucra Groupe Warcoing S.A., BENEO GmbH, Jarrow Formulas Inc., Fonterra Co-operative Group Limited, Dairy Crest Group plc, Gova BVBA, The Tereos Group, S.A.A Olygose and Clasado Biosciences Limited, Yakult Honsha Co. Ltd., Ingredion Incorporated, Kerry Group plc, Roquette Freres S.A., Sensus America Inc., Cooperatie Koninklijke Cosun U.A., Prenexus Health, Jackson Gl Medical, and The New Francisco Biotechnology Corporation are the key vendors that operate in the prebiotic ingredients market.