Global prebiotics market is expected to reach USD 5.75 billion by 2020, according to a new study by Grand View Research, Inc. Positive outlook on dairy consumption, coupled with surging demand for sugar and fat free products owing to increased concerns over obesity is expected to augment the demand for prebiotics over the forecast period.
Food & beverage was the largest application segment with market volume of 488.1 kilo tons in 2013. Ease of incorporation and growing consumer awareness is expected to drive prebiotics demand in food and beverages industry over the forecast period. Dietary supplements and animal feed are expected to be key application markets for prebiotics and are expected to grow at over 9% from 2014 to 2020.
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Further key findings from the study suggest:
- Global prebiotics market was 581.0 kilo tons in 2013 and is expected to reach 1,084.7 kilo tons by 2020, growing at a CAGR of 9.3% from 2014 to 2020.
- Inulin was the largest ingredient segment, accounting for 42.63% of total market volume in 2013 owing to its multiple health benefits resulting in increased consumption in the food and beverage industry.
- GOS followed inulin demand in terms of volume and accounted for 16% of market volume in 2013. GOS is expected to witness growth on account of multiple benefits offered by the ingredient such as increasing calcium absorption, prevention of colon cancer and improvement of internal defense system.
- Europe was the largest market for prebiotics, accounting for over 39% of market volume in 2013. Growing integration of prebiotic ingredient in new applications such as snacks and meat products is expected to augment the demand for prebiotics in Europe.
- Asia Pacific is expected to be the fastest growing market in terms of volume, growing at a CAGR of 9.6% from 2014 to 2020 on account of surging demand from developed economies such as Japan.
- The market is highly fragmented with the top seven companies accounting for less than 45% of global market in 2013. Key companies include FrieslandCampina Domo, Cargill inc., Beghin Meiji, Beneo-Orafti SA, Roquette America, Inc., Cosucra Groupe Warcoing SA and Weetabix Ltd.
For the purpose of this study, Grand View Research has segmented the global prebiotics market on the basis of ingredients, application and region:
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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