Portland, OR, July 08, 2021 (GLOBE NEWSWIRE) -- As per the report published by Allied Market Research, the global human milk oligosaccharides market generated $125.9 million in 2020, and is expected to reach $332.6 billion by 2028, growing at a CAGR of 14.1% from 2021 to 2028.
Rise in acceptance of HMO, shift toward healthy dietary habits, and surge in demand for HMOs as functional food products have boosted the growth of the global human milk oligosaccharides market. However, high cost of production and health-related problems hinder the market growth. On the contrary, increase in R&D activities and rise in demand for infant nutrition products are expected to open lucrative opportunities for the market players in the future.
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Covid-19 scenario:
- During the Covid-19 pandemic, the demand for HMO significantly increased due to panic buying for at-home consumption.
- Due to restrictions on manufacturing facilities and lack of workforce, there was a huge gap in supply and demand. Moreover, the prolonged lockdown in several countries resulted in a disrupted supply chain.
- However, the demand for HMO is expected to get back on track as the world is slowly recovering from the pandemic.
The global human milk oligosaccharides market is segmented on the basis of type, application, distribution channel, and region.
Based on application, the market is classified into infant formula, functional food and beverages, and food supplements. The infant formula segment dominated the market in 2020, accounting for more than half of the market. Moreover, the segment is projected to manifest the highest CAGR of 14.5% during the forecast period.
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On the basis of distribution channel, the hypermarkets and supermarkets, drug stores or pharmacy, mass merchandiser, departmental stores, mono-brand stores, specialty stores, and online sales channel. The drug stores or pharmacy segment held the lion’s share in 2020, contributing to nearly one-fourth of the market. Moreover, the segment is expected to showcase the highest CAGR of 15.4% during the forecast period.
The global human milk oligosaccharides market is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across Europe dominated in 2020, holding more than one-third of total revenue. Moreover, the region is estimated to portray the highest CAGR of 14.6% from 2021 to 2028.
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The global human milk oligosaccharides market includes an in-depth analysis of the prime market players such as BASF S.E., Abbott Laboratories, Chr. Hansen Holding A/S, Biosynth Carbosynth, Dupont Nutrition & Biosciences, Elicityl S.A., Dextra Laboratories Ltd., Glycosyn, Glycom A/S, Medolac Laboratories, Inbiose NV, Nestle Health Science, Neolacta Lifesciences Pvt. Ltd, Royal DSM, and ZuChem.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.