Expanding Horizons: Prebiotic Ingredients Market's Growth Trajectory
Added: (Thu Aug 31 2023)
Pressbox (Press Release) -
The Prebiotic Ingredients Market is valued at USD 6.3 billion in 2022, is forecasted to surge at a remarkable CAGR of 11.7% to attain a worth of USD 10.9 billion by 2027.
Driving this impressive growth are factors such as the burgeoning global population, the widespread utilization of prebiotics as nutraceutical components, and an escalating awareness regarding the benefits of prebiotic consumption. These dynamics collectively fuel the expansion of the prebiotic ingredients market throughout the projected period.
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Europe: Commanding the Prebiotic Market Landscape
Foreseeing the largest market share throughout the forecast span, Europe has been a dominant force in the realm of prebiotic ingredients. With a substantial valuation of USD 2,120.1 million in 2021, Europe's supremacy can be traced back to the European Union's prohibition of antibiotic growth promoters in 2006. Consequently, prebiotics gained significant traction as additives for animal growth and nutrition. Noteworthy players such as FrieslandCampina (Netherlands) and Nexira (France) contribute to this momentum by providing prebiotic ingredients for both human consumption and animal feed.
The health-conscious European population meticulously scrutinizes ingredients used by companies, favoring natural sources and functional ingredients. This discerning awareness has driven the demand for health-centric, low-calorie, and low-fat food products, thereby boosting the prebiotic market in the region
Asia Pacific: Nurturing the Highest Market Growth
Emerging as the second-largest market after Europe, the Asia Pacific region is set to experience the highest market growth, propelled by a projected CAGR during the forecast period. Rapid economic expansion underpins this surge, driving demand for high-quality food, beverages, and feed. Key players such as China, India, Malaysia, Indonesia, Singapore, and South Korea are fostering the demand for nutritionally fortified or functional food products. Rising disposable income among the substantial population further propels premium product adoption, particularly prebiotics, across Asia Pacific.
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Key Players and Strategies
The landscape of the prebiotic ingredients market is chiefly occupied by established global players. Notable names like Beneo (Germany), ADM (US), DuPont (US), and Friesland Campina (Netherlands) dominate the scene. Their strategies, predominantly new product launches, closely followed by expansions, have enabled them to extend their influence across diverse regions and industrial segments. This strategic maneuvering has proven instrumental in enhancing their presence and market penetration.