Prebiotic Ingredients Market Is Projected to Reach $7.37 Billion by 2023
The prebiotic ingredients market was valued at USD 3.65 Billion in 2016; this is projected to grow at a CAGR of 10.4%, to reach USD 7.37 Billion by 2023.
Northbrook, IL -- (SBWire) -- 05/09/2019 --The report "Prebiotic Ingredients Market by Type (Oligosaccharides, Inulin, and Polydextrose), Application (Food & Beverages, Dietary Supplements, and Animal Feed), Source (Roots, Grains, and Vegetables), and Region - Global Forecast to 2023", The prebiotic ingredients market is estimated at USD 4.07 Billion in 2017 and is projected to reach a value of USD 7.37 Billion by 2023, at a CAGR of 10.4%. The market is driven by factors such as the trending adoption of a healthy diet with low calories and fat, and wide application of prebiotics in foods such as low-fat cheeses, sauces, soups, and table spreads that makes these products healthy as well as tasty. The major players in the food industry are investing in research & development activities to expand their prebiotic product portfolios and attract more consumers by providing innovative products at lower prices.
Browse 64 market data Tables and 30 Figures spread through 134 Pages and in-depth TOC on "Prebiotic Ingredients Market - Global Forecast to 2023"
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The food and beverage segment accounted for the largest share of the prebiotic ingredients market, by application, in 2016.
On the basis of application, food & beverages accounted for the largest share of the prebiotic ingredients market in 2016, followed by the dietary supplement industry. Prebiotic ingredients, whether in liquid or powder form, can be easily incorporated in a variety of food products. For instance, oligofructose (FOS) is 30% as sweet as sucrose and due to its pleasant taste characteristics, creamy & fat-like structure, high solubility in hot water, and low-calorific value can be easily added to some dairy products and baked food items.
Inulin accounted for the largest market share in 2016.
On the basis of type, inulin accounted for the largest market share in 2016. Inulin can be used as a fat replacer; these ingredients are value-adding products and go well with processed food and are preferred not only by the younger populace, but also the middle-aged population groups.
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Roots accounted for the largest market share among all sources in 2016.
On the basis of source, prebiotic ingredients sourced from roots accounted for a larger market share, followed by prebiotics sourced from grains. The high prebiotic content in roots makes them the largest source of prebiotic.
Europe dominated the prebiotic ingredients market in 2016.
Europe was the largest market for prebiotic ingredients in 2016. The market is characterized by the presence of large-scale prebiotic ingredients manufacturers such as BENEO (Germany) and FrieslandCampina (Netherlands). The increase in the number of new modified prebiotic product launches by manufacturers, such low-fat and fortified breads with prebiotic ingredients, acts as catalysts for the growth in demand for prebiotic ingredients.
This report includes a study of marketing and development strategies, along with the product portfolios of the leading companies. It includes profiles of leading companies such as BENEO (Germany), Cargill (US), DuPont (US), FrieslandCampina (Netherlands), Fonterra (New Zealand), Kerry Group (Kerry) (Ireland), and Ingredion (US), Yakult Pharmaceutical (Japan), Royal Cosun (Netherlands), Beghin Meiji (France), Nexira (France), and Samyang Genex (South Korea).
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