Prebiotic Ingredient Market (2022 - 2028)

Prebiotic Ingredient Market Summary

Moreover, increasing awareness of nutritional values, growing middle-class population, and rising cultivation and harvesting of prebiotic natural herbs are facilitating business demand. Increasing investment in R&D by various players to develop new ingredients coupled with rising demand for a food product that contains prebiotic ingredients is likely to drive market growth during the forecast period. Also, age group and income level play important role in determining the purchase of prebiotic ingredients. Moreover, rising technological advancements in developing oligosaccharides and inulin are likely to drive market growth during the assessment period.

Owing to the rise in health consciousness, the consumer preference for the prebiotic ingredient is increasing. Further, improvement in living standards, an increase in health expenditure, and a surge in disposable income will boost market growth during the forecast period. Also, due to the increasing working population, there is rising demand for quality and nutritional food. Hence market is projected to showcase noteworthy growth. Moreover, growing concerns for a healthier lifestyle is increasing the demand for prebiotic ingredient. Also increasing trend for healthier food and growing consumption of food with prebiotic ingredients leads to its increasing demand. Hence, the market is estimated to show growth during the assessment period.

The COVID-19 pandemic has also affected the market in various regions. As lockdown was imposed, the supply chain was disturbed in many regions. Various businesses and industries were closed down adversely affected the market. This pandemic has also impacted logistics suppliers and farmworkers. Moreover, after lockdown relaxation and lift of travel ban across western countries in the last quarter of 2020 helped the market to surge back again and start the supply chain of products normally. Also declining cases of COVID-19 are estimated to raise the economy in various regions and the market growth.

Type Insights

Inulin contributed to the highest share of over 40% in the global market revenue in 2021 owing to its increasing demand for baked goods and drinks. Also increasing application of inulin in infant food is projected to propel segment growth over the assessment period. Increasing the application of inulin in various health products is likely to favor segment growth. Moreover, the increasing importance of low caloric sugar consumption in the food & beverages industry is also estimated to drive the demand.

Oligosaccharide is expected to register the highest growth of a CAGR of 11.0% during the forecast period due to increasing demand. Rising demand for confectionery products, increasing disposable incomes, and changing lifestyles are other factors driving the growth of this segment. Technological advancement and increasing demand for oligosaccharides in the beverage industry are other driving factors for the growth of this segment.

Applications Insights

The food & beverage segment contributed to the highest share of more than 80% in the global prebiotic ingredient market revenue in 2021 owing to its increasing sales. Lifestyle changes, changing consumer food habits, and increasing demand for beverages are factors driving the growth of this segment. Also, the rising demand for special foods such as lactose-free foods is revving up the growth of this segment.

The dietary supplements segment is estimated to register the fastest growth with a CAGR of 11.6% from 2022 to 2028. Rising consumer awareness regarding personal health is the major factor driving segment growth during the forecast period. Also, due to increasing working population globally and changing lifestyles toward healthiness are further responsible for the growth of this segment. R&D is an important success driver for dietary supplements.

Regional Insights

North America made the largest contribution to the market with over 50% share in 2021 due to the high demand for prebiotic ingredients in the U.S., and Canada. Also, the increasing purchasing power of the consumers in this region drives market growth. North America presents striking opportunities for the consumer goods sector, the market is projected to show growth. Also, due to rising import demand, the market is estimated to show growth during the forecast period.

Asia Pacific is expected to witness a CAGR of 11.5% from 2022 to 2028. It is estimated to witness growth due to the increasing demand for prebiotic ingredients in this region. An increase in disposable income in countries like China, India, and others is also driving the segment growth in this region. In addition, increasing demand for dairy products due to the high population is also responsible for market growth during the forecast period.

Key Companies & Market Share Insights

Companies' are focusing on innovating new types of prebiotic ingredients to meet the increasing demand. New players are entering the market owing to low market entry barriers and higher market potential. The increasing demand for prebiotic ingredients offers an opportunity for product development in the regions of high demand. Some of the prominent players in the global prebiotic ingredient market include:

• Beneo-Orafti SA

• Tereos Group

• Ingredion Inc.

• Cargill Inc.

• DowDuPont Inc

• Royal FrieslandCampina N.V.

• Kerry Group

• Cosucra-groupe Warcoing SA

• Sensus BV

Prebiotic Ingredient Market