ALBANY, New York, November 23, 2018
ALBANY, New York, November 23, 2018 /PRNewswire/ --
The global prebiotic ingredients market features an increasingly competitive landscape on account of a large number of vendors adopting prudent strategies to increase their footprints, finds Transparency Market Research (TMR). Players in the global prebiotic ingredients market are increasingly focusing on research and development (R&D) activities to launch products with higher therapeutic value. This has also helped fuel the organic growth of several key players in the prebiotic ingredients market. TMR observes that a growing number of players are tapping into promising avenues in the functional foods industry to gain competitive edge over others. Some of the prominent players vying for sizeable stakes in the prebiotic ingredients market are BENEO GmbH, Jarrow Formulas Inc., Cosucra Warcoing S.A., Cargill Incorporated, and Koninklijke Friesland Campina N.V.
The global prebiotic ingredients market stood at US$3,512.8 million in 2017. Expanding at a promising CAGR of 10.3% during 2017-2025, the opportunities in the global market are projected to be worth US$7,687.9 million by the end of this forecast period.
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Among the various key types of ingredients, inulin contributed a sizeable share of 34.3% in the global prebiotic ingredients market and the demand is expected to rise at substantial pace over the assessment period. This is attributed to widespread applications of inulin in the food and beverages, bakery, and confectionery industries.
Among the various key regional markets for prebiotic ingredients, Asia Pacific was anticipated to emerge to the forefront in 2017. The regional market is projected to expand at the most attractive CAGR of 11.1% during 2017-2025 and garner a substantial revenue share in the global prebiotic ingredients market by 2025 end. The growth is propelled largely by the rising demand for functional foods across the region.
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Rising Awareness about Therapeutic Benefits bolstering Prebiotic Ingredients Uptake
The global prebiotic ingredients market is driven by the rising awareness about the therapeutic benefits of functional food ingredients in the food and beverages industry across the world. The rising demand for food products containing prebiotics is underpinned by several health-related benefits, especially in promoting gastrointestinal health of consumers. The rising population of health-conscious populations who are willing to spend more on functional food products is a notable factor bolstering the demand for prebiotic ingredients.
The global prebiotic ingredients market has been witnessing robust momentum from rising R&D activities on improving the therapeutic value and optimal functionality of these ingredients. A number of companies producing functional dietary supplements have been leveraging innovative technologies in their research and development units to develop prebiotic ingredients with better stability. This has also enabled them to use prebiotic ingredients in a variety of food supplements with different chemical structure.
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The market for prebiotic ingredients has made rapid strides, helped by the rising demand for food products in reducing obesity. The rising awareness about diet-based interventions in reducing the risk of obesity in various populations world over is a notable trend bolstering the demand for prebiotic ingredients in various food preparations. Over the years, as new health benefits of these prebiotic ingredients are uncovered and efforts are made to increase their use in industrial applications, the global prebiotic ingredients market is expected to make attractive strides over the next few years.
Big Investments needed for Production Technologies emerge as Key Bottleneck
However, the need for large investments in the manufacturing processes for the production of prebiotic ingredients in viable manner cripple the lucrativeness of the market. The difficulty in scaling the production processes has also been a key setback in the market's expansion. Moreover, the demand for prebiotic ingredients has been facing stiff competition from the growing popularity of probiotics, especially in numerous developing and developed regions.
Nevertheless, in recent years, several food companies have come up with delicious supplements with prebiotic ingredients. In addition, they are adopting modern packaging systems that help preserve the product's stability. The propensity of people toward natural functional food ingredients is also expected to open new frontiers in the worldwide prebiotic ingredients market.
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The study presented here is based on a report by Transparency Market Research (TMR) titled "Prebiotic Ingredients Market (Type of Ingredient - Fructo Oligosaccharide, Galacto Oligosaccharide, Mannan Oligosaccharide, and Inulin; Application - Food and Beverages (Dairy Products, Cereals & Bakery, and Meat Products), Dietary Supplements (Nutritional Supplements, Specialty Nutrients, and Infant Formulae), Animal Feed, and Pet Food; Source - Vegetables, Cereals, Root, and Acacia Tree) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017-2025".
The global prebiotic ingredients market is segmented based on:
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