Human Milk Oligosaccharides (HMO) Market by Type (2’ Fl, 3’ Fl, 3’ Sl, 6’ Sl), Application (Infant Formula, Functional Food & Beverages, Food Supplement), Concentration (Acidic, Neutral) & Region (North America, Europe, APAC, South America, RoW) - (2022 – 2027)
Northbrook, IL 60062 -- (SBWIRE) -- 10/03/2022 -- The global Human Milk Oligosaccharides Market is estimated to be valued at USD 199 million in 2022. It is projected to reach USD 556 million by 2027, recording a CAGR of 22.7% during the forecast period.
The global Human Milk Oligosaccharides (HMO) Market has been influenced by some of the macroeconomic and microeconomic factors witnessed in some key countries. This would prove strong enough to drive the market significantly in terms of value sales during the forecast period. With the rise in number of infants across the globe, the demand and preference for HMO-based infant formula along with the trend of adopting healthy lifestyle by consuming functional food and beverages has significantly boosted the utilization of HMO in manufacturing.
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Digitalization of retail industry
One of the latest trends encouraging the growth of the HMO composed products, including infant formulas and dietary supplement products market, is through online grocery shopping and the introduction of new apps. This makes it convenient for consumers to purchase their preferred products. Consumers are inclined toward online shopping due to features such as the convenience of purchase and availability of a variety. According to Eurostat, in 2018, nearly 25% of the population bought food and groceries from online retail channels. With the increase in penetration of the internet and smartphone usage, retail grocery shopping is emerging as one of the platforms for companies to showcase and sell their food products. Moreover, the number of stores accepting online payments is rising globally. Key factors such as the increase in smartphone usage, dedicated apps, and emerging payment methods drive the growth of the overall online grocery market. These factors are projected to contribute to the growth of consumer products derived from human milk oligosaccharides as an essential ingredient and consequently impact the studied market.
Adoption of advanced technologies in the functional food industry
The most common emerging technologies in the functional food manufacturing industry are high-hydrostatic pressure, ultrasound-assisted and microwave-assisted extraction, pulsed electric field, radio-frequency drying, high voltage electrical discharge, and supercritical fluids. These emerging technologies are not based on high temperature but on the generation of heat through internal energy transmission (such as resistive and adiabatic with pulsed electric fields and high hydrostatic pressure, respectively) that minimizes deterioration of sensory, nutritional, and functional food ingredients characteristics.
The introduction of technologies such as encapsulation, nanoencapsulation, and bio-encapsulation drives technological innovations in the functional food ingredients industry, which uses HMO as a key ingredient for formulating dietary supplements such as prebiotics and probiotics. These technologies are being rapidly adopted by food ingredient manufacturers to harmonize functional ingredients to formulate better suited and customized food products for consumers to cater to the growing demand.
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The key players in this market include DSM (Netherlands), BASF SE (Germany), Chr. Hansen Holding A/S (Denmark), DUPONT ( US), and Royal FrieslandCampina N.V. (Netherlands).
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