Galacto-oligosaccharide is used widely in the infant formula as the prebiotic supplement. It offers properties related to human milk which makes it a perfect substitute when the natural milk is not available. Galacto-oligosaccharide market is anticipated to experience high market growth in the coming four to five years owing to the rising infant formula demand in various emerging markets such as India and China. Moreover, galacto-oligosaccharide has been recognized safe for consumption and has been given the status Generally Recognized as Safe (GRAS) by U.S. FDA and also received the substantiated health titles related to the reduction of potential pathogenic microorganisms and gastrointestinal discomfort by EFSA. New product developments and innovations in beverage and dairy sector is expected to fuel the market growth over the forthcoming years.
Galacto-oligosaccharide Market Segmentation
Global galacto-oligosaccharide market is segmented on the basis application and region. Based on the application galacto-oligosaccharide market segmentation includes food and beverage, bakery products, cosmetics, dietary supplements, infant formula and others. Of which food and beverage is expected to be the dominating segment, followed by infant formula segment. However, dietary supplements segment is expected to experience the remarkable growth during the forecast period owing the increasing consumer awareness related to the nutritional food which in turn enhance the demand of the nutraceutical. The growing demand for the nutraceutical further drives the overall market growth of the galacto-oligosaccharide market. Food and beverage segment of the galacto-oligosaccharide market is further sub-segmented into cereals, dairy products such as ice-cream. Of which dairy product sub-segment is expected to be the leading segment, followed by other sub segment owing to the maximum usage of the galacto-oligosaccharide in the infant formula as an ingredient. Global galacto-oligosaccharide market is segmented on the basis of region into North America, Latin America, Eastern Europe, Western Europe, Asia Pacific excluding Japan, Middle East and Africa and Japan.
Galacto-oligosaccharide Market: Region-wise Outlook
The global galacto-oligosaccharide market is expected to witness vigorous growth over the next four to five years due to the growing consumer awareness regarding the benefits of various nutraceutical food such as galacto-oligosaccharide Globally, among all regions, Europe is expected to be the largest market for the galacto-oligosaccharide, followed by North America over the forecast period. Europe is expected to contribute largest market share owing to the growing demand for the baby food in Europe coupled with the presence of various infant formula manufacturing companies which resulted in Europe being the largest exporter of the baby food. Moreover, North America is expected to contribute noticeable market share in the galacto-oligosaccharide market due the increasing intake of low fat products, low sugar tea and coffee, yogurts. In North America, U.S and Canada is expected to contribute maximum revenue in the global galacto-oligosaccharide market during the forecast period. However Asia Pacific is anticipated to witness strong growth due to the rising demand for cereals, functional food and beverages, infant formula and confectionary products in various countries .In Asia Pacific, China is anticipated to contribute highest market share and exhibit healthy CAGR followed by India.
Galacto-oligosaccharide Market: Drivers
Various factors expected to drive the market growth of galacto-oligosaccharide market includes innovation and new product developments in RTD coffees, yogurt, nectars and sugar confectionary. Other factor that is also expected to drive the overall market growth of the galacto-oligosaccharide market over the next four to five years is growing consumer awareness regarding the various types of nutraceutical food .Major factor that is expected to restraint the market growth of the galacto-oligosaccharide market during the forecast period is rising demand for Isomaltooligosaccharide which is the type of oligosaccharide that resists the digestion.
Galacto-oligosaccharide Market: Key Players
Major companies operating in galacto-oligosaccharide market are Royal FrieslandCampina, Yakult Pharmaceutical Industry Co., Ltd., Ingredion Incorporated. Various companies operating in the galacto –oligosaccharide market are launching cost effective galacto-oligosaccharide which are used in various applications. For instance, in 2014 Ingredion launched BIOLIGO GL 5700 IMF galacto-oligosaccharides for food and beverage applications.
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The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.