DOVER, Delaware, May 9, 2016 /PRNewswire/ --
Prebiotics market size was USD 3.31 billion in 2015, with 11.6% CAGR growth anticipated in ingredient sales by 2023, as per the latest research report by Global Market Insights, Inc. Growing product awareness and acceptance, spurred by regulatory endorsement of proven benefits will drive the global prebiotics market growth.
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Diabetes prevalence trends, primarily in Asia Pacific, have seen industry product penetration rise in the last three years, a trend which is likely to continue over the report forecast period. Inulin market will continue to dominate ingredient revenue, with sales forecast exceeding USD 3.22 billion by 2023.
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Prebiotic food & beverage industry revenue is forecast to exceed USD 6.4 billion by 2023, of which dairy products should account for over 85%. Baked goods and dried foods will most likely witness very modest gains over the forecast timeframe.
Dietary supplements, with global revenue expectation of over USD 63 billion by 2023, will remain an attractive application segment for the prebiotics market share, presently accounting for close to 8% of global volume.
Food and beverage industry growth in Brazil, China, India, South Korea, Poland and Mexico is also expected to have a positive impact on industry growth over the forecast period. Growing occurrence of gastrointestinal tract diseases such as constipation, irritable bowel syndrome (IBS), gastroesophageal reflux disease (GRD) and inflammatory bowel disease have raised the concerns towards gut health.
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High product & application development along with raw material concerns may adversely impact the global prebiotic industry profitability. In addition, stringent regulations for ingredient formulation for the food & beverage industry are expected to strengthen market entry barriers for new participants.
To access sample pages or view this report titled, "Prebiotics Market Size By Ingredient (Inulin, GOS, FOS, MOS), By Application (Animal Feed, Food & Beverages [Dairy, Cereals, Baked Goods, Fermented Meat, Dry Foods], Dietary Supplements [Food, Nutrition, Infant Formulations]), Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2016 - 2023" in detail along with the table of contents, please click on the link below: https://www.gminsights.com/industry-analysis/prebiotics-market
Key insights from the report include:
- Global prebiotics market size is poised to exceed 1,359 kilo tons in ingredient sales by 2023, at over 9% CAGR from 2016 to 2023.
- While FOS, Inulin and GOS will continue to dominate global prebiotic ingredient market share, collectively accounting for over 70% overall revenue in 2015; MOS ingredients are forecast to witness maximum growth up to 2023.
- Prebiotic dietary supplements should see ingredient sales exceed 110 kilo tons by 2023. While infant formulation will remain the most attractive application in this segment, nutrition and sports supplements are also expected to witness strong growth.
- Animal feed prebiotics market, even with tough competition from the feed phytogenics industry are likely to grow steadily, with over USD 300 million in revenue in 2015.
- North America will continue to see modest and steady gains, as product penetration remains a challenge for industry participants.
- Europe prebiotics market size, with USD 1.4 billion in revenue for 2015, will remain heavily regulation driven throughout the next decade. APAC, driven by significant opportunities in China and India prebiotics market, could see ingredient demand exceed 495 kilo tons by 2023.
- Global prebiotics market share continues to be fragmented, with FrieslandCampina, Beghin, Cargill, Roquette and Beneo catering to less than 35% of the total demand in 2015.
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Global Market Insights has segmented the prebiotics industry on the basis of ingredient, application and region:
Prebiotics Market Ingredient Analysis (Volume, Kilo Tons & Revenue, USD Million; 2012 - 2023)
- Fructo-oligosaccharide (FOS)
- Mannan-oligosaccharide (MOS)
- Galacto-oligosaccharide (GOS)
Prebiotics Market Application Analysis (Volume, Kilo Tons & Revenue, USD Million; 2012 - 2023)
- Food & beverage
- Baked food
- Dry food
- Fermented meat products
- Dietary supplements
- Food supplements
- Nutritional supplements
- Infant formula
- Specialty nutrients
- Animal feed
Prebiotics Market Regional Analysis (Volume, Kilo Tons & Revenue, USD Million; 2012 - 2023)
- North America
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
SOURCE Global Market Insights Inc.