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Pharmacy benefit management market
PREBIOTIC INGREDIENTS MARKET REPORT OVERVIEW
global prebiotic ingredients market size was USD 5891.17 million in 2021 and market is projected to touch USD 18180 Million By 2031, exhibiting a CAGR of 11.93% during the forecast period.
The global COVID-19 pandemic has been unprecedented and staggering, with prebiotic ingredients experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels.
Prebiotics are carbohydrates that the body's digestive enzymes and acids cannot break down and which promote the growth or activity of healthy bacteria in the gut. They support a healthy digestive system, bolster immune function, lessen stomach inflammation, enhance overall digestive health, reduce the chance of developing diarrhea, increase calcium absorption to increase bone density, and reduce cardiovascular disease risk factors.
Since people's everyday diets, health, and fitness were neglected as a result of their busy work schedules and prolonged working hours, many health complications, including obesity, diabetes, and digestive disorders, developed. As a result, individuals are placing more emphasis on preventative health and favoring dietary supplements that contain prebiotics because they provide greater health advantages without having any negative consequences. Therefore, the aforementioned elements are fueling the prebiotic ingredients market expansion. This growth is attributed to the growing significance of nutraceutical products, which have established themselves as essentials in consumers' nutritional planning. Prebiotic ingredients are highly sought-after, particularly in the food and beverage industries, as people grow more aware of the need of leading healthy lives.
COVID-19 Impact: Halt on Manufacturing Operations to Slower Market Growth
The need for prebiotics has increased in response to the COVID-19 pandemic. Sixty-six percent of European consumers now associate prebiotics with immunological health as a result of the COVID-19 pandemic. The COVID-19 epidemic encourages dietary changes in consumers because 70% of immune cells are found in the colon and 55% of consumers in Europe associate prebiotics with immunological wellness. Additionally, businesses like Kellogg have broadened their offering of products related to gut health with the introduction of additional prebiotic cereals, laying the door for continued prebiotic ingredients market growth following COVID-19.
LATEST TRENDS
"High Demand in Dietary Supplements to Boost Market Growth"
Prebiotics are a class of dietary supplements that includes food supplements, nutritional supplements, specialty nutrients, and infant formula. The trend for prebiotics in recent years has been to include these components in meals and drinks. The prebiotic ingredients market will be the largest food and beverage segment in 2022 as a result of this. The prebiotic needs will rise as a result of increased lactose intolerance symptoms such as stomach spasms, flatulence, nausea, and gas diarrhea. Prebiotic ingredients are in high demand in the dietary supplement and food and beverage industries as a result of growing consumer understanding of prebiotic benefits and increased health awareness. The potential of FOS in dietary fibers to prevent gastrointestinal ailments and the rising use of these products is anticipated to drive prebiotic ingredients market demand during the anticipated time frame.
PREBIOTIC INGREDIENTS MARKET SEGMENTATION
- By Type Analysis
As per the type, the market is classified as follows: inulins, fructo-oligosaccharides (FOS), galactooligosaccharides (GOS), mannan oligosaccharides (MOS), and others. the inulins type dominates the prebiotic ingredients market share.
- By Application Analysis
Based on application, the market is segmented as follows: Food & Beverages, Dietary Supplements, and Animal Feed. The food and beverages segment leads the prebiotic ingredients market share.
DRIVING FACTORS
"Introduction of Plant Based Foods to Facilitate Market Development"
Over the next seven years, growth is anticipated to be fueled by a high demand for supplements and a shifting consumer understanding of the health advantages of fiber. Plant-based products will be introduced by manufacturers who will use prebiotic components. For instance, the vice president of global innovation and nutrition at Kellogg stated recently in a webinar that gut health is the future of nutrition. By advertising its wide variety of plant-based fibers that support the human stomach, Kellogg's focuses on securing its near future. These product innovations assist businesses in expanding prebiotic ingredients market reach and gaining a competitive edge abroad. As a result, the prebiotic ingredients market as a whole is beginning to see a considerable movement toward plant-based foods.
"Public Understanding of Environmental Sustainability to Promote Industry Progress"
The prebiotic ingredients market is anticipated to have the quickest CAGR in terms of volume over the forecast period. Over the next ten years, there will likely be a rise in demand for symbiotic production and increased use of infant formula. The public's understanding of environmental sustainability has grown dramatically during the past few years. Prebiotic fibers are in demand as more people adopt a vegan lifestyle and a plant-based diet since they are either already present in plant-based goods intended to replace animal-based diets or can be simply introduced into them. Vegans and those following alternative diets can eat a lot of prebiotic dietary items. The prebiotic ingredients market's two most reliable plant-based prebiotics are inulin and oligofructose, according to the International Scientific Association for Probiotics and Prebiotics (ISAPP).
RESTRAINING FACTORS
"Strict Rules and Regulations to Hinder Market Growth"
Despite these encouraging advancements, manufacturers must abide by stringent requirements before putting their goods on the prebiotic ingredients market because the substances are critical to human health. The processing time of the product is being impacted by these rules and regulations, which are expected to act as a prebiotic ingredients market restraint globally.
PREBIOTIC INGREDIENTS MARKET SEGMENTATION REGIONAL INSIGHTS
"Growing Aging Population to Propel Market Progress in North America"
11% of these launches occurred in the United Kingdom. The prebiotic ingredients market is being driven by the aging population's growing acceptance of dietary supplements and the rising prevalence of lifestyle disorders. Healthcare practitioners in the area give patients nutritional supplements with prebiotic ingredients to treat health problems. Consumer lifestyle changes and increasing urbanization are what are driving the prebiotic ingredients market. Global lifestyles and eating habits have seen considerable upheaval during the past 20 years.
KEY MARKET PLAYERS
"Market Players Focus on New Product Launches to Strengthen Market Position"
Leading players in the market are adopting various strategies to expand their presence in the market. These include R&D investments and the launch of new, technologically-advanced products in the market. Some companies are also adopting strategies such as partnerships, mergers, and acquisitions to strengthen their market position.
List of Market Players Profiled
- E.I. Du Pont De Nemours and Company (U.S.)
- Beghin Meiji (France)
- Jarrow Formulas (U.S.)
- Kraft Foods (U.S.)
- FrieslandCampina (Netherland)
- Roquette Freres (France)
- Royal Cosun (Netherlands)
- BENEO-Orafti (Singapore)
- Samyang Genex (South Korea)
- Cargill (U.S.)
- Bright Food (China)
- Yakult Honsha (Japan)
- Cosucra Groupe Warcoing (Belgium)
- Parmalat (Italy)
- Abbott Laboratories (U.S.)
REPORT COVERAGE
The report covers overall market aspects, including the market segmentation based on its type and application. The report depicts a diverse group of participants that includes the market and the potential market leaders. Major factors that are expected to drive major growth in the market. The factors anticipated to expand the market share are also included in the report to offer market insights. The estimated growth of the market in the forecast period is also included in the report. The regional analysis is completed to explain the region's dominance in the global market. The factors hindering the growth of the market are discussed in detail. The SWOT analysis of the market is depicted in the report. It contains all-inclusive market details.
REPORT COVERAGE | DETAILS |
---|---|
Market Size Value In |
US$ 7.38 Billion in 2023 |
Market Size Value By |
US$ 20.34 Billion by 2031 |
Growth Rate |
CAGR of 11.93% from 2023 to 2031 |
Forecast Period |
2023-2032 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered | |
By Type
|
|
By Application
|
Frequently Asked Questions
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What value is the prebiotic ingredients market expected to touch by 2032?
Based on our research, the prebiotic ingredients market is projected to touch USD 20.34 Billion By 2032.
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What CAGR is the prebiotic ingredients market expected to exhibit by 2032?
The prebiotic ingredients market is expected to exhibit a CAGR of 11.93% by 2032.
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What are the driving factors of the prebiotic ingredients market?
The introduction of plant-based foods and public understanding of environmental sustainability are the driving factors of the prebiotic ingredients market.
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Which are the top companies operating in the prebiotic ingredients market?
E.I. Du Pont De Nemours and Company, Beghin Meiji, Jarrow Formulas, Kraft Foods, FrieslandCampina, Roquette Freres, Royal Cosun, BENEO-Orafti, Samyang Genex, Cargill, Bright Food, Yakult Honsha, Cosucra Groupe Warcoing, Parmalat, Abbott Laboratories are the companies operating in the prebiotic ingredients market.