LONDON, Sept. 29, 2016 /PRNewswire/ -- The global human milk oligosaccharides market is expected to reach USD 170.4 million by 2024, according to a new report by Grand View Research, Inc. Increasing application scope in functional beverages and infant formula is expected to have a positive impact on growth.
Lack of protective enzymes in general infant formula and in breastfed milk, leading to high infant mortality rate, is likely to augment human milk oligosaccharides market growth. In 1990, the mortality rate of infants was 63 deaths per 1,000 live births, and in 2015, the rate declined to only 32 deaths per 1,000 live births.
Growth of functional food & beverage industry in China, Brazil, India, Poland, South Korea, and Mexico is also likely to propel growth over the forecast period. Rising disposable income and increasing concerns of middle class population towards health issues in emerging economies such as India and China are also expected to be key factors contributing to market growth for dietary supplements over the next six years.
Further key findings from the report suggest:
Demand for human milk oligosaccharides in infant formula is likely to witness growth of over 12% over the forecast period.Growing utilization of nutritional products particularly in Asia Pacific and North African countries is likely to propel demand.
Functional food & beverages accounted for over 15% of the global volume share in 2015. The functional food industry is highly dominated by dairy products. There is high demand for functional food & beverages with prebiotic properties. Human milk oligosaccharides not only provide prebiotic effects but also stimulate neurological health of human beings. These properties of human milk oligosaccharides are expected to drive growth in functional food & beverages over the next eight years.
Europe was the largest market for human milk oligosaccharides in 2015 on account of increasing utilization of LNnT & 2'FL in infant formulations. In addition, rising demand for functional food products including milk formula, energy drinks, and yogurt in Europe is likely to fuel demand for human milk oligosaccharides in the region.
The global human milk oligosaccharides market is consolidated on account of presence of limited number of players occupying major share. Many manufacturers are involved in extensive R&D for development of low cost technologies for production of HMO in large scale. 2'FL, 3'FL, 3'SL, and 6'SL are some of the majorly produced HMOs.
For the purpose of this report, Grand View Research has segmented the global human milk oligosaccharides market on the basis of application and region:
In July 2015, Inbiose NV along with other companies initiated CARBOSURF project under Bio-Based Industries Joint Undertaking (BBI JU) in order to device new fermentation process to derive glycolipid biosurfactants and sialylated carbohydrates. In October 2014, Madolac Laboratories announced completion of second phase of its HMO purification plant. This plant would synthesize HMOs in large scale, which would be further used in scientific research and clinical trials.
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