Market Outlook
Prebiotics are substances used in assisting in digestion of foods and promotion of gut health. Inclination towards healthy foods and awareness of gut bacteria can fuel its demand. The global prebiotics market report by Market Research Future (MRFR) contains drivers and hurdles intended to enlighten industry manufacturers for the period of 2020 to 2028 (forecast period). The impact of the COVID-19 pandemic on its supply and value chain has been explored in detail in the report and included with strategies and suggestive measures.
Market Scope
The global Prebiotics Market Research has witnessed continued growth over the last few years and is projected to reach USD 8788.9 million by 2028 at a CAGR of 11.2%.
It is expected to perform exceptionally owing to consumption of healthy foods and drinks. Huge demand for dietary supplements and functional foods is likely to boost demand for prebiotics among consumers. Prebiotics are a source of food for bacteria in the gut and enhance gut health. Change in lifestyles, hectic schedules of consumers, and prevalence of lifestyle diseases are major drivers of the market.
But low awareness of these products and unavailability in certain countries can restrict the market growth.
Segmentation
The global prebiotics market is segmented into type and application.
Based on type, the market has been segmented into galacto-oligosaccharides, inulin, fructo-oligosaccharides, and others. The inulin segment dominated the market with a market share of exceeding 37% share in 2018. Benefits in its consumption for aiding weight loss, constipation, and trimming high blood fats can foster segment growth during the forecast period. Fructo-oligosaccharides are expected to gain traction in the market owing to the need for sweeteners to act as viable replacement for sugar. Consumption of breakfast cereals, bakery items, and confectionery are likely to spur the segment growth in the global prebiotics market.
Based on application, the market has been segregated into functional food beverages, dietary supplements, and others. The functional food beverages segment has been further segmented into breakfast cereals, dairy products, infant nutrition, beverages, and others. Dietary supplements are expected to generate revenue at a CAGR of 10.0% during the forecast period. Its consumption with daily intake of food can drive the segment growth.
Regional Analysis
Region-wise, the global prebiotics market report have been segmented into North America, Europe, Asia Pacific (APAC), and Rest-of-the-World (RoW).
Europe dominated the global prebiotics market in 2018 and is expected to register a CAGR of 9.2% during the forecast period. Germany, France, and the U.K. are the major countries in the region triggering the demand for prebiotics. Awareness of prebiotic ingredients and preference of consumers to healthy diets are factors dominating the regional market growth.
The APAC Key Prebiotics Market Players is expected to be highly lucrative for market players operating in the prebiotics market due to the rapid growth of the food industry in this region. Moreover, the entry of new market players, awareness of functional foods, prevalence of major debilitating health issues, and a large patient pool are factors which can determine the growth trajectory of the regional market.
Competition Outlook
Clasado Biosciences Ltd, BENEO GmBH, Roquette Frères SA, Cargill, Incorporated, Tereos Starch Sweeteners SAS, Ingredion Incorporated, Royal FrieslandCampina NV, Kerry Group PLC, EW Nutrition GmbH, and Cosucra Groupe Warcoing SA are key players of the global prebiotics market. Expansion in regions with potential is the prime strategy of players to sustain their standing. The COVID-19 pandemic has halted the brakes in production of dietary supplements. But the easing of production rules during the lockdown period can facilitate in heavy sales and stimulate market growth.
