Research Nester published a report titled “Galacto-oligosaccharide Market: Global Demand Analysis & Opportunity Outlook 2028” which delivers detailed overview of the galacto-oligosaccharide market in terms of market segmentation by end-user and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
Driven by increasing health awareness, rise in geriatric population and effective nutrient provider for lactose-intolerant population, the galacto-oligosaccharide market is estimated to witness significant growth in upcoming years. The market attained revenue of USD 483.93 Million in 2019 and is anticipated to grow at a CAGR of 10.15% during 2021-2028. The market is segmented on the basis of end-user into food & beverage industry, pharmaceutical, personal care and animal feed, out of which, the food & beverage segment accounted for 73.67% on account of galacto-oligosaccharides’ excellent nutritional properties. It is widely used to improve the shelf life of dairy products such as yoghurt, butter, and cheese, and also as a nutritional additive.
Based on region, the galacto-oligosaccharide market is segmented into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa region, out of which, the market in Europe is projected to witness the highest growth. The growth of the market in this region can be attributed to the increasing knowledge among working professionals towards nutritional enrichment for the maintenance of healthy diet in the human body and increased concerns about the harmful effects of conventional pharmacy drugs. The second highest growth is anticipated to be witnessed by Asia. The galacto-oligosaccharide market in Asia is anticipated to grow at a CAGR of 11.02% during the forecast period. The rising intake of dietary supplements for the preservation of healthier lifestyles is driving the demand of the galacto-oligosaccharide market in this area. In addition, widespread understanding of prebiotics and its comprehensive use in dietary supplements have further propelled the development of the market in this region.
Increasing Health Awareness And Rising Geriatric Population to Drive Market Growth
Functional food & beverages and dietary supplements are main areas of application of galacto-oligosaccharides. The demand for different dietary supplements is motivated by a growing geriatric population and increasing health consciousness among the global population. Geriatric populations suffer from multiple age-related diseases, increasing the demand for dietary supplements to be consumed. Galacto-oligosaccharide in dietary products has various beneficial effects, including improved mineral absorption, bowel habit improvement, serum lipid and cholesterol level regulation, and decreased inflammation of IBD. Moreover, with the increasing number of patients with diabetes and the side effects of anti-diabetic medications, there is a growing need among customers for new dietary supplementation from natural resources, especially functional oligosaccharides. Such a factor is anticipated to drive the growth of the global galacto-oligosaccharide market during the forecast period.
However, presence of counterfeited products in low price range are estimated to act as barriers to the growth of the market during the forecast period. Counterfeit products contain chemicals that are dangerous and have a significant effect on consumers' health.
This report also provides the existing competitive scenario of some of the key players of the galacto-oligosaccharides market which includes company FrieslandCampina Ingredients, Yakult Pharmaceutical Industry Co., Ltd, Ingredion Incorporated ( NYSE: INGR), Quantum Hi-Tech (China) Biological Co. Ltd., New Fransisco (Yunfu City) Biotechnology Corporation Ltd., Nissin Sugar Co., Ltd. ( TYO: 2117), Baolingbao Biology Co., Ltd. (SHE: 002286), and SAMYANG Corporation ( KRX: 145990) among other prominent players. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the galacto-oligosaccharide market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.