Synbiotic Products Market Size USD 2.9 billion by 2024
The global symbiotic foods market is expected to register a healthy growth during the forecast period (2017-2024), Market Research Future (MRFR) reports. Growing health awareness has given rise to the needs for nutritional benefits of food products, and synbiotic foods have become a perfect component that could increase the nutritional value of the food products. Its potential application in diverse sectors such as foods & beverages, pharmaceutical, and neutraceutical industries has given rise to its market demand.
Drivers and Restraints:
Rapid urbanization across the world has resulted in a shift in lifestyle and irreversible changes in well-being leading to several health problems. The increase in disposable income has generated health awareness and indirectly spurred health expenditure. Hence, the need for synbiotic foods that improve the gut health and gastrointestinal function. It plays a significant role in reducing lactose intolerance, preventing osteoporosis and mitigating cardiovascular and carcinogenic disorders.
Synbiotic foods also have application in pet foods and pharmaceutical industries. The demand for fibers in beverages has given it access to dairy products, consequently, fuelling its market in China, India and New Zealand where the dairy industry is experiencing a surge.
However, use of non-native probiotic bacteria could adversely affect the individual, and this could deter the market.
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The global synbiotic food market has been segmented based on type, product and distribution channel.
By type, the market has been further segmented into dairy & frozen desserts, bakery & confectionary, snacks, beverages, dietary supplements and others. Dairy & frozen desserts are dominating the market owing to its high consumption. Use of synbiotics in dairy products incurs less expenditure and is resourceful. However, significant growth can be expected for dietary supplements during the forecast period owing to increase in its intake.
Product-wise segmentation consists of glass, plastics, metals, paper and paperboard and others. The plastic material segment is experiencing a significant increase due to its use as a packaging material. However, paper and paperboards can also expect a boost for being recyclable in nature and mitigating the chance of food migration.
Based on distribution channel, the market includes store-based and non-store based distribution. The store-based distribution network is currently dominating the market owing to a growth in one-stop solution shops.
The global Synbiotic Products Market Size can be segmented into North America, Europe, Asia Pacific (APAC), and rest-of-the-world (RoW).
Europe dominates the global market due to increasing consumption of synbiotic food products for its various health benefits. In July 2014, European Food Safety Authority (EFSA) lowered the upper usage limit of synbiotics in the fortification of infant food products that can adversely impact the market. However, European government has increased the dairy production which could trigger the market growth rate of synbiotics.
The APAC region is second in production with China leading the market. Rising awareness related to synbiotic product and growing dairy production in China, India and New Zealand have fuelled the market further.
The U.S. has a robust manufacturing base for food & beverage, and the popularity of functional foods are on the rise; factors that have can boost the demand for synbiotics during the forecast period.
In recent times a growing industrial interest in improving the stability of beneficial bacterial strains has been witnessed. Chinese researchers from School of Food Science and Technology, Jiangnan University have found a solution through microencapsulation technique. The encapsulation method has its material made from alginate and an arabinoxylan that could boost the survival rate by 50%. Also, it has been recently published in an article in Science Translational Medicine that synbiotic foods can be a cure for diseases such as acne and eczema. The market’s prospect is luring in various investors; from celebrities to tech moguls. For instance, recently, Seeds, a synbiotic manufacturing company has received funding from such high profile entities.
Some of the key players influencing the global synbiotic foods market: Chr. Hansen (Denmark), Yakult Pharmaceutical Ind Co Ltd. (Japan), SKYSTONE FEED CO., LTD (China), Behn Meyer Holding AG (Germany), Daflorn Ltd. (Bulgaria), NewLeaf Symbiotics, Inc. (U.S.), Pfizer Inc. (U.S.).
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