USD 6.95 Billion
Report ID:
SQMIG30H2133 |
Region:
Global |
Published Date: April, 2024
Pages:
198
|Tables:
64
|Figures:
74
Prebiotics Market size was valued at USD 7.99 Billion in 2023 and is poised to grow from USD 9.18 Billion in 2024 to USD 27.87 Billion by 2032, growing at a CAGR of 14.90% during the forecast period (2025-2032).
Prebiotics are being used in the dairy industry due to their beneficial impact on health, which is expected to increase demand over the projected period. Significant technological developments in the production of inulin and oligosaccharides are also expected to cause the market for sugar to decline over the course of the projected period. Over the next seven years, it is anticipated that growing demand for supplements and shifting consumer perceptions of the health advantages of fiber will drive growth.
A few gastrointestinal tract disorders that are on the rise and are raising concerns about gut health are constipation, irritable bowel syndrome (IBS), gastroesophageal reflux disease (GRD), and inflammatory bowel disease. Over the anticipated time range, these worries are anticipated to fuel market growth. The increased planting and harvesting of prebiotic natural herbs is also anticipated to fuel the market. Thanks to companies' expanding investments in research and development (R&D) to discover innovative ingredients and consumers' growing readiness to pay more for food products containing prebiotic compounds, manufacturers are now in control of active health management programmers.
The growth in the market over the anticipated period will be driven by this. The food and beverage business uses prebiotics in a wide range of uses, including texture improvement and sweetening agents. Over the forecast period, the product growth is anticipated to be fueled by the rising concern about sugar disorders. Additionally, is a demand for the main prebiotic components like inulin and fructo-oligosaccharide (FOS) from goods with a low-calorie sweetening taste, that is going to fuel the expansion of the prebiotic market as a whole all through the forecast period.
US Prebiotics Market is poised to grow at sustainable CAGR for the next forecast year.
Global Market Size
USD 6.95 Billion
Largest Segment
Food and Beverage
Fastest Growth
Food and Beverage
Growth Rate
14.90% CAGR
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The global prebiotics market is segmented based on ingredients, application, and region. In terms of ingredients, the market is segmented into Fructo-oligosaccharide (FOS), Inulin, Galacto-oligosaccharides (GOS), Mannan-oligosaccharide (MOS), and others (Oligosaccharides, Chicory Fructans, HMO, XOS). In terms of application, the market is segmented into prebiotic food & beverages (dairy products, cereals, baked food, fermented meat products, dry food prebiotics), prebiotic dietary supplements (food supplements, nutritional supplements, specialty nutrients, infant foods), and animal feed prebiotics. Regionwise, the global prebiotics market is segmented into North America, Europe, Asia-Pacific, Latin America, and MEA.
Prebiotics Market Analysis by Ingredients
Inulin ingredients held the largest market share of more than 37.00% of the total revenue in 2021, saturating the global market. Over the projected period, the segment's growth is anticipated to be significantly influenced by the increasing demand for inulin in baked goods and beverages. The demand for GOS products worldwide is anticipated to increase significantly between 2022 and 2030.
Demand is expected to rise over the next eight years as a result of increased usage in newborn formula and a surge in interest in symbiotics. Due to the growing number of uses for dietary fibers made of FOSin and their ability to ward off gastrointestinal disorders, demand for the market is predicted to rise over the course of the projected period. As FOS is used more frequently to treat bacterial infections in hospital wards and long-term care homes, the market will grow. MOS components are in greater demand as a result of the rising need for prebiotics in animal diets. The absence of MOS components and the rising cost of raw materials are expected to restrict industry growth, nonetheless.
Prebiotics Market Analysis by Application
The global market has been further divided into food and beverage, dietary supplements, and animal feed on the basis of applications. In 2021, the food and beverage application category held the highest market share, accounting for more than 82.00% of the total volume. Due to the rising importance of animal proteins and the fortification of animal feed with bacteria that enhance animal gut health, the demand for prebiotics in animal feed was also high globally in 2021 and will continue to rise. The market for dietary supplements is anticipated to experience the quickest volume-based CAGR over the forecast period.
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The market in the Asia Pacific region is anticipated to grow at the quickest rate, i.e., 15.4%, between 2022 and 2030. The key forces behind product demand are nations with sizable populations and developing food and beverage industries, such as Japan, China, and India. The rising consumption of dairy products in Asian countries also contributes to the regional market's rise. According to an economic survey, India produced 198.4 million tons of milk in 2020–21, an increase of 5.7% from 2019–20. By 2030, India's demand for dairy products will amount to 266.5 million metric tons, predicts the National Dairy Development Board (NDDB).
The growth of the market in this nation is also anticipated to be driven by the increasing use of dairy products. The market will also be fueled by the country's aging population and rising consumer awareness. Australia's dairy sector is growing and making adaptations to developments in the global market, which is anticipated to increase product demand. In 2021, Europe dominated the worldwide market. The regional market is predicted to be driven by product diversity and its rising importance in the food and beverage sector. During 2022 and 2030, North America is expected for moderate growth.
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Prebiotics Market Drivers
Increasing Demand for Dietary Supplements and Functional Foods
Prebiotics Market Restraints
Lack of Awareness
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The prebiotics market is highly competitive in nature on account of the presence of a large number of players operating in the industry. These players are constantly striving to develop new and innovative products to meet the growing demand for prebiotics. These companies compete based on factors such as product innovation, product quality, pricing, and distribution channels. Other players also engage in partnerships, collaborations, and acquisitions to expand their market presence and increase their product offerings.
Top Player’s Company Profiles
Prebiotics Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyzes the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, we found that the Prebiotics market is being used in the dairy industry due to their beneficial impact on health, which is expected to increase demand over the projected period. Significant technological developments in the production of inulin and oligosaccharides are also expected to cause the market for sugar to decline over the course of the projected period. Over the next seven years, it is anticipated that growing demand for supplements and shifting consumer perceptions of the health advantages of fiber will drive growth.
Report Metric | Details |
---|---|
Market size value in 2022 | USD 6.95 Billion |
Market size value in 2031 | USD 24.26 Billion |
Growth Rate | 14.90% |
Base year | 2023 |
Forecast period | 2024-2031 |
Forecast Unit (Value) | USD Billion |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Customization scope | Free report customization with purchase. Customization includes:-
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Prebiotics Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Prebiotics Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Prebiotics Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Prebiotics Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Prebiotics Market size was valued at USD 6.05 billion in 2021 and is expected to grow from USD 6.95 billion in 2022 to USD 21.2 billion by 2030, at a CAGR of 14.9% during the forecast period (2023-2030).
The prebiotics market is highly competitive in nature on account of the presence of a large number of players operating in the industry. These players are constantly striving to develop new and innovative products to meet the growing demand for prebiotics. These companies compete based on factors such as product innovation, product quality, pricing, and distribution channels. Other players also engage in partnerships, collaborations, and acquisitions to expand their market presence and increase their product offerings. 'Dupont Nutrition & Health', 'Cargill, Incorporated', 'Royal Cosun', 'Beneo GmbH', 'Ingredion Incorporated', 'FrieslandCampina Domo', 'Kerry Group plc', 'Yakult Honsha Co., Ltd.', 'Nexira', 'Samyang Corporation', 'Roquette Frères', 'Tate & Lyle plc', 'Beghin Meiji (Tereos Syral)', 'Cosucra Groupe Warcoing SA', 'Sensus BV', 'ADM', 'Taura Natural Ingredients Limited', 'Nutrizon', 'GTC Nutrition'
With increasing awareness of the importance of maintaining good health and well-being, there is a growing demand for functional foods and dietary supplements that contain prebiotics.
Increasing demand for natural and organic prebiotics: Consumers are increasingly seeking natural and organic products, and this trend is also reflected in the prebiotics market. Manufacturers are developing prebiotics from natural and organic sources to meet this demand.
The market in the Asia Pacific region is anticipated to grow at the quickest rate, i.e., 15.4%, between 2022 and 2030. The key forces behind product demand are nations with sizable populations and developing food and beverage industries, such as Japan, China, and India. The rising consumption of dairy products in Asian countries also contributes to the regional market's rise. According to an economic survey, India produced 198.4 million tons of milk in 2020–21, an increase of 5.7% from 2019–20. By 2030, India's demand for dairy products will amount to 266.5 million metric tons, predicts the National Dairy Development Board (NDDB).
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Report ID: SQMIG30H2133
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