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%.
The prebiotic ingredients market is driven by factors such as wide range of application in the food & beverage industry, rising healthy diet, and multifunctional nature of prebiotic ingredients.
On the basis of application, the dietary supplements segment is projected to grow at the highest CAGR from 2017 to 2023. Dietary supplements containing prebiotic ingredients have many digestive and general health benefits, such as improvement in the balance of the gut microflora, improvement of intestinal functions such as bulking and regularity, increase in calcium absorption & improvement in bone density, and enhancement of immune function.
Based on source, the market for prebiotics sourced from grains is projected to grow at the highest CAGR during the forecast period. Grains that have a prebiotic content include raw wheat bran and baked wheat flour, which are products obtained from wheat grains. Wheat bran provides 5% prebiotic fiber, by weight. It can be consumed by adding it in morning cereal, yogurt, or by blending it into smoothies.
The Asia Pacific region is projected to be the fastest-growing market for prebiotic ingredients from 2017 to 2023. Key markets in the Asia Pacific region include China, India, Japan, and Australia. The growth in this region is attributed to the rapid economic growth which is driving the demand for quality food & beverage and feed, especially in China, India, Malaysia, Indonesia, Singapore, and South Korea, which, in turn, drives the demand for prebiotic ingredients.
Key market players includes BENEO GmbH (BENEO) (Germany), Cargill Incorporated (Cargill) (US), E. I. du Pont de Nemours and Company (DuPont) (US), FrieslandCampina (Netherlands), Fonterra Co-operative Group Limited (Fonterra) (New Zealand), Kerry Group (Kerry) (Ireland), and Ingredion Incorporated (Ingredion) (US).