Redding, California, Nov. 03, 2022 (GLOBE NEWSWIRE) -- According to a new market research report titled, ‘Prebiotics Market by Ingredient (Fructo-oligosaccharide, Galacto-oligosaccharide, Inulin, Mannan-Oligosaccharide), Application (Food & Beverages {Dairy, Bakery, Cereals, Meat Products}, Dietary Supplements, Animal Feed), and Geography - Forecast to 2029’, in terms of value, the prebiotics market is projected to reach $13.84 billion by 2029, at a CAGR of 8.6% during the forecast period 2022–2029.
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Prebiotics are non-digestible food ingredients that help the beneficial bacteria in the human gut grow and sustain. These are found in various dietary food products such as asparagus, sugar beet, garlic, chicory, onion, Jerusalem artichoke, wheat, honey, banana, barley, tomato, rye, soybean, human’s and cow’s milk, peas, beans, and recently in seaweeds and microalgae.
Plant-based and natural products are increasingly popular among consumers; hence manufacturers are incorporating natural ingredients into their products. Natural dietary fibre is the most important source of prebiotic ingredients to support the production of prebiotic organisms. The increasing awareness of the harmful effects of antibiotics and other chemicals found in processed food products has led to a rise in the consumption of prebiotic fibres. Furthermore, the increasing tendency towards using plant-based products in the F&B industry is expected to positively impact the prebiotics market.
The global prebiotics market study is segmented based on ingredient (fructo-oligosaccharide, galacto-oligosaccharide, inulin, mannan-oligosaccharide, and other ingredients) and application (food & beverages, dietary supplements, animal feed, and cosmetics). The study also evaluates industry competitors and analyzes the regional and country-level markets.
The Impact of COVID-19 on the Prebiotics Market
The pandemic adversely hit many economies globally. Complete lockdowns and movement restrictions were imposed to curb the spread of COVID-19. However, the impact of the pandemic on the prebiotics market was positive, mainly due to increased health consciousness. Consumers’ increased awareness about the health benefits of nutraceuticals increased the demand for dietary supplements during the initial months of the pandemic. The consumption of food & beverages and dairy products also increased.
Moreover, due to the lockdowns and government mandates, people stayed at home and focused on their health and fitness, stimulating the demand for prebiotics. However, the disruption of the transportation and logistics industry negatively impacted the sales of prebiotics during the COVID-19 pandemic.
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Key Findings in the Global Prebiotics Market Study
Based on the ingredient, the galacto-oligosaccharide segment is projected to register the highest CAGR during the forecast period. The growth of this segment is mainly attributed to the increase in consumption of galacto-oligosaccharide due to its multiple health benefits, including relieving symptoms of constipation, preventing colon cancer, and improving bifidobacteria. Moreover, in food and beverages, it is used in non-alcoholic beverages and bakeries to improve the taste and texture of baked products due to low calorific value moisture.
Based on application, in 2022, the food & beverages segment is expected to account for the largest share of the prebiotics market. The large market share of this segment is mainly attributed to the rising demand for fortifying food with prebiotic ingredients and the increasing health consciousness among consumers. Moreover, a healthy and active lifestyle and increasing investments to innovate new products in the food and beverages industry are expected to boost the demand for the food and beverages market.
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Based on geography, the prebiotics market is segmented into five major geographies: North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2022, the Asia-Pacific is expected to account for the largest share of the prebiotics market. The large share of this market is mainly attributed to the increase in the consumption of dairy products. In addition, the growing demand for nutraceuticals and the rising of diseases, such as gut-related issues, diabetes, chronic diseases, and obesity, are expected to boost the demand for prebiotics in this region.
However, North America is projected to record the fastest growth rate in the global prebiotics market during the forecast period of 2022–2029. The fast growth of this market is mainly attributed to the increasing health awareness, adoption of healthy dietary fibres, and demand for prebiotic-enriched foods. The growing importance of using prebiotics in gut-related issues and increasing the demand for supplements in the U.S. is expected to boost the demand for prebiotics in the region.
Key Players
The key players operating in the global prebiotics market are Abbott Laboratories (U.S.), BENEO GmbH (Germany), Bright Food International Co., Ltd. (China), Cargill Incorporated (U.S.), Cosucra Groupe Warcoing SA (Belgium), Ingredion Incorporated (U.S.), International Flavors & Fragrances Inc. (U.S.), Jarrow Formulas, Inc (U.S.), Kerry Group plc (Ireland), Parmalat S.p.A. (Italy), Roquette Frères (France), Royal FrieslandCampina N.V. (Netherlands), Sensus B.V. (Part of Royal Cosun) (Netherlands), Tereos Group (France), and Yakult Honsha Co., Ltd (Japan).
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Scope of the Report:
Prebiotics Market, by Ingredient
- Fructo-oligosaccharide
- Galacto-oligosaccharide
- Inulin
- Mannan-Oligosaccharide
- Other Ingredients
Prebiotics Market, by Application
- Food & Beverages
- Dairy
- Bakery
- Cereals
- Meat Products
- Others Food & Beverages
- Dietary Supplements
- Nutritional Supplements
- Specialty Nutrients
- Infant formula
- Animal Feed
- Cosmetics
Prebiotics Market, by Geography
- North America
- U.S.
- Canada
- Europe
- France
- Germany
- Italy
- U.K.
- Netherlands
- Rest of Europe
- Asia-Pacific (APAC)
- China
- India
- Japan
- Australia
- South Korea
- Rest of APAC (RoAPAC)
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America (RoLATAM)
- Middle East & Africa
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