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Prebiotic Ingredients Market Worth $7.4 Billion by 2023 - Exclusive Report by MarketsandMarkets™
CHICAGO, July 25, 2019 /PRNewswire/ -- According to the new market research 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", published by MarketsandMarkets™, the Prebiotic Ingredients Market is projected to account for USD 7.4 Billion By 2023 Consumers are increasingly becoming health conscious and prefer spending on food products that are health-enriching and enhance their digestion. Due to the increasing demand for digestion-friendly food products, manufacturers are increasingly utilizing prebiotic ingredients. According to MarketsandMarkets™, the prebiotic ingredients market is projected to account for a value of USD 7.4 billion, recording a CAGR of 10.4%.
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The Inulin Segment Dominated the Prebiotic Ingredients Market During the Forecast Period
As consumers focus on maintaining the weight and blood-sugar levels, the demand for prebiotic ingredients such as inulin is projected to remain high among manufacturers. To cater to the increasing demand from consumers, manufacturers in the food & beverage industry are focusing on extracting inulin from products such as chicory roots, onions, and wheat. Due to these factors, the inulin segment is projected to dominate the prebiotic ingredients market during the forecast period.
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64 – Tables
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134 – Pages
The Demand for Prebiotic Ingredients Is Projected to Remain Concentrated in the Food & Beverage Segment Through 2023
Consumers are increasingly becoming fitness-conscious and prefer accommodating nutrient-dense and health-enriching products in their diets. To align with the increasing demand of consumers, leading manufacturers focus on utilizing prebiotic ingredients such as inulin in a range of food & beverage products. The use of prebiotic ingredients remains high among manufacturers as they improve bone health, skin health, and maintain the blood-sugar level of consumers. Due to these factors, the demand for prebiotic ingredients is projected to remain high in the food & beverage industry.
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The Prebiotic Ingredients Market in Europe Held the Largest Share Through 2023
High preference for fortified and low-fat bakery products in various countries of the region has encouraged manufacturers to allocate their budget to prebiotic ingredients. Also, as bakery products are considered staple foods in Europe, leading players are expanding to enhance their brand image. Due to these factors, Europe is projected to dominate the market during the forecast period.
Leading players operating in the market include Cargill (US), BENEO (Germany), DuPont (US), Fonterra (New Zealand), FrieslandCampina (Netherlands), and Ingredion (US). Key players operating in this market are adopting strategies such as expansions, new product launches, acquisitions, and partnerships.
All in all, the prebiotic ingredients market is projected to record significant growth during the forecast period. Manufacturers focus on investing in prebiotic ingredients and aligning with the health requirements of consumers to retain their loyalty. They are focusing on expanding in regions such as Europe to enhance their brand image. These factors are projected to reflect positively on the market growth.
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