Prebiotic Ingredient Market– Statistics And Analysis & Forecast To 2028Posted by Mrudula Anil Karmarkar on March 3rd, 2023 The global prebiotic ingredient market size is expected to reach USD 13.6 billion by 2028, registering a CAGR of 10.7% during the forecast period, according to a new report by Grand View Research, Inc. The market is estimated to show significant growth during the forecast period, owing to the increasing consumption of the dairy products, the rising middle-class population, and the rising number of buyers of healthy food products. Moreover, growing awareness of health benefits among millennials and the preference of consumers toward prebiotic ingredients, are major factors that drive the market growth during the forecast period. Consumer preference for the prebiotic ingredient is increasing due to rising health consciousness among people. Additionally surge in disposable income, an increase in health expenditure, and improvement in the living standard are also responsible for the market growth. Increasing investment in R&D by various players to develop new ingredients coupled with increasing demand for food products that contain prebiotic ingredients is likely to drive market growth during the forecast period. Also, age group and income level plays important role in determining the purchase of prebiotic ingredient. Moreover, rising technological advancements in developing oligosaccharides and inulin are likely to drive market growth during the assessment period. Inulin contributed to the highest share of over 40.0% 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 during 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 industry demand. 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, increasing the working population globally and changing lifestyles toward healthiness is responsible for the growth of this segment. R&D is an important success driver for dietary supplements. North America made the largest contribution to the global 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 the market growth. North America presents striking opportunities for the consumer goods sector, the market is projected to show growth. 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. To Request Sample Copy of this report, click the link: https://www.grandviewresearch.com/industry-analysis/prebiotic-ingredient-market-report/request/rs1 The increasing use of prebiotics in dairy and cosmetic products owing to its health benefits is impelling the market growth. 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. Prebiotic Ingredient Market Report Highlights
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. List of Key Players in the Prebiotic Ingredient Market
Like it? Share it! More by this author |