(Entertainment-NewsWire.com, June 06, 2018 ) Galacto-oligosaccharide Market is expected to grow at 9.3% CAGR from 2016 to 2021 and it is estimated that the global market was valued at USD 707.68 million in 2016 and is relied upon to reach USD 1103.92 million by 2021.Galacto-oligosaccharide is widely used as a probiotic supplement in the infant formula. Its properties are similar to that of human milk, thereby making it a perfect substitute for natural milk. Furthermore, galacto-oligosaccharide is used as a low-calorie sweetener and nourishment fixing in items, for example, soda pops, yogurts, powdered milk and clabbered milk. It is a probiotic non-digestible ingredient known to have beneficial effects and improve one’s health by selectively stimulating the growth and activity of a limited number of bacteria in the colon.
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 confectionery. Growing consumer awareness regarding the various types of nutraceutical food is another factor that is anticipated to drive the overall market growth in the coming years. A major factor that is expected to restrain the market growth of the galacto-oligosaccharide market during the forecast period is rising demand for Isomalto-oligosaccharide which is the type of oligosaccharide that resists the digestion.
The global market for Galacto-oligosaccharide is segmented by Application. On the basis of Source, it is segmented into Food and Beverage and Dietary Supplements. Based on the application galacto-oligosaccharide market segmentation includes food and beverage, dietary supplements, infant formula and others of which food and beverage are expected to be the dominating segment, followed by infant formula segment. Food and beverage segment is further segmented into cereals and dairy products such as ice-cream, of which dairy product sub-segment is anticipated to be the leading segment, followed by other sub segment due to an extensive use of the galacto-oligosaccharide in the infant formula as an ingredient. Be that as it may, dietary supplements segment is anticipated to witness a high growth rate during the forecast period due to an increase in the consumer awareness regarding nutritional food which in turn will boost the demand of the nutraceutical.
On the basis of geography, the market is analyzed under various regions namely North America, Europe, Asia-Pacific, Latin America and Middle East and Africa. Europe is anticipated to be the largest market for the galacto-oligosaccharide, followed by North America in the coming years. Europe is expected to contribute largest market share due to an increase in the demand for the baby food in Europe coupled with the presence of various infant formula manufacturing companies, therefore turning Europe into the largest exporter of the baby food. In addition, North America is projected to account for a noticeable market share in the galacto-oligosaccharide market due to the growing intake of low-fat products, low sugar tea, and coffee, yogurts. In North America, U.S and Canada are anticipated to account for the major share of the revenue in this region during the forecast period. Asia Pacific is anticipated to register the highest CAGR in the coming years due to the rising demand for cereals, functional food and beverages, infant formula and confectionary products in various countries. In Asia Pacific, China is projected to account for the largest share of the market in this region followed by India.
Some of the companies dominating the market are Yakult Pharmaceutical Industry Co Ltd, Taiwan Fructose Co Ltd, New Francisco Biotechnology, Nissin Sugar Manufacturing Co Ltd, Samyang Genex Co, QindaoFtz United International Inc, Abo Switzerland Co Ltd., Wuxi Cima Science Co Ltd., Royal Fries land Campina and Terio Co.
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