ALBANY, New York, September 20, 2018 /PRNewswire/ --
The global prebiotic ingredients market is likely to witness a tough competition because of numerous players present in the market. The market is likely to see a healthy competition among the vendors regarding the price control and expanding their footprints. Major companies in the market are looking forward to an extensive research and development which would lead them to enhance their products. These strategies are anticipated to aid the vendors to gain market share. Some of the major players in the global prebiotic fiber supplements market are Jarrow Formulas Inc., BENEO GmbH, Cosucra Warcong S.A., Caril Incorporated, and Koninklijke Friesland Campina N.V.
According to Transparency Market Research, the global market for prebiotic fiber supplements market is prognosticated to rise at 10.3% CAGR during the forecast period, 2017 - 2025 on the basis of revenue. It is anticipated that with this pace, the market is likely to hit a value of US$7687.9 mn by the end of assessed period from US$3512.8 mn which was expected to be in 2017. On the basis of source segment, the market is dominated by root segment. It nearly held 46.5% market share. On the basis of geography, the market is led by Asia Pacific. China contributes the most among other countries and is likely to expand at 11.1% CAGR during the forecast period.
Rising Obesity Population to Fuel the Demand for Prebiotics
The major driver that is envisaged to drive the growth of the market is the high demand for functional food ingredient in day to day food. Rise in health savvy consumers are preferring on food having natural ingredients for a leading a better lifestyle. Rise in disposable cash has been one of the major factor as it had triggered the population to opt for more healthy and quality food which are expensive. Major players in the market are spending more behind research and development team in order to raise the nutritional level of food and offer a healthy product to its customer. Prebiotics are also known to reduce obesity.
Rise in obesity among developed countries due to surge in consumption of junk and processed food has helped the global prebiotic fiber supplements market to grow exponentially. For instance, World Health Organization stated that there has been a gradual decline in obesity level due to rise in consumption of prebiotics. This have tailwind the market to grow. Prebiotics are known to have multiple health benefits, these have also helped the product demand to rise. Rising consumer preferences for healthy food is likely to create lucrative opportunity for the market in the forecast period. Rising awareness regarding health benefits that can be obtained from prebiotic fiber supplements is augmenting the growth of the market in a significant way. Vendors in the market are also aiding in spreading the awareness across the world.
Expensive Manufacturing Process to Deter the Growth of Market
However it has been duly noticed that absence of knowledge among customers about the rudimentary difference between probiotics and prebiotics is anticipated to deter the growth of the market. The global prebiotic supplements market is like to get a severe blow due to this factor. Advanced marketing of probiotics as an important health enhancer in comparison to prebiotics is likely to plummet the growth of the market. Apart from these, the other major reason that is expected to make the market lose grip is the heavy investment required behind research and development of prebiotic ingredient. This has proved to act as a blockade to new players in the market as they are unable to afford it. The process of manufacturing prebiotics is also expensive, thus leading to a sluggish growth of the market.
The information in this review is based on the findings of a report by Transparency Market Research, titled "Prebiotic Ingredients Market (Ingredients - Fructo Oligosaccharide, Galacto Oligosaccharide, Mannan Oligosaccharide, and Inulin; Application - Food & Beverages (Dairy Products, Cereals & Bakery, and Meat Products), Dietary Ingredients (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 has been segmented as presented below:
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