Prebiotics market size forecast to exceed USD 7.5 billion by 2023: Global Market Insights, Inc.
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.
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.
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 purchases 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”, please click on the link below:
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.