It is anticipated that between 2022 and 2032, the global synbiotics market would grow at a healthy CAGR of between 7% and 9%, reaching a value of about US$ 1.86 billion. Due to the increasing use of synbiotics in a variety of industries, including food and beverage, medicines, and animal feed, as well as their numerous nutritional and health advantages, the market is expected to grow.
Additionally, they are also used to improve nutrient absorption such as calcium, phosphorus, and magnesium, and to treat hepatic conditions. In addition, they are often used in aquaculture to stimulate the immune system to increase fish development. Synbiotics are also used in pharmaceuticals and pet foods industries, due to nutritional benefits. The increasing inclination of consumers towards nutritional supplements due to changing lifestyles and eating habits is expected to boost demand for synbiotic in the near future.
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Heightened Demand for Functional and Convenience Food Products is Boosting the Growth of Synbiotic Market:
The growing demand for functional food is attributed to the increasing demand for functional ingredients, such as Synbiotic, which offers health benefits without compromising food products’ taste or sensory quality. Synbiotic is used as a functional ingredient in food products, which has a digestion-resistant quality
Increasing consumer awareness of nutritional supplementation is expected to play a significant role in driving market in the near future. Rising demand for dietary supplements in China and India is expected to have a strong effect on the synbiotics market over the coming years due to increased awareness of the nutritional benefits of functional foods. As diet foods, the use of functional food products is increasing which appear to achieve customer satisfaction when it comes to energy and dietary requirements.
Owing to increasing awareness among consumers and increased internet penetration, Synbiotic is widely used in the food industry. It is used in the manufacturing of food products such as cereals, nutrient supplements, candies, and chocolates. Increasing use of Synbiotic in food processing industry contributes to the growth of the global Synbiotic market.
Global Synbiotic: Key Players
Some the key players operating their business in the global Synbiotic market
- Pfizer Pharmaceuticals
- Yakult Pharmaceuticals
- Groupe Danone
- Behn Mayer & Company Private Limited
- Skystone Feed Coperative Limited
- Sabinsa Coorporation
- Daflorn MLM5 Limited
- Chr. Hansen
In 2019, Pfizer Inc. and Array BioPharma Inc. have entered into a definitive merger agreement has been signed pursuant to which Pfizer acquires Array, a global biopharmaceutical company focusing on the discovery, production and distribution of targeted small molecular medicines for the treatment of cancer and other highly unmet diseases.
Opportunities for Synbiotic market:The rising population’s rise in health issues has increased demand for functional foods. Moreover, the development of the dairy industry in countries like India and China is also expected to fuel the growth of the synbiotic market in the coming years.
The demand for probiotics and prebiotics in functional food and beverage is continuing to increase. Speeding healthy lifestyles among consumers towards nutritional supplements is expected to play a significant role in driving market growth for synbiotics over the coming years.
Manufacturers in the nutraceutical and food & beverage industries have enhanced the strengthening of natural ingredients such as probiotics, prebiotics and synbiotics in their product selection to provide nutritional enrichment and related health benefits. The European Commission lifted quotas for manufacturing dairy products in the region in March 2015.
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Brief Approach to Research Synbiotic Market:
A modelling-based approach and triangulation methodology will be followed to estimate data covered in this report. A detailed market understanding and assessment of the applications, types, forms and end uses of the product segments covered in the study is followed by carrying out a demand-side approach to estimate the sales of target product segments, which is then cross-referenced with a supply-side assessment of value generated over a pre-defined period. The statistics and data is collected at a regional level, consolidated and synthesized at a global level to estimate the overall market sizes
Global Synbiotics Market: Segmentation
The synbiotics market report covers the detailed analysis of the following segmentation which includes, by application, form, distribution channel and region.
On the basis of product form, global Synbiotic market can be segmented as:-
- Powder
- Liquid
On the basis of product application, global Synbiotic market can be segmented as:-
- Food & Beverages
- Pharmaceutical
- Dairy Industry
- Animal Feed
- Aquaculture Farming
On the basis of distribution channel, global Synbiotic market can be segmented as:-
- Direct/B2B
- Indirect/B2C
- Online Retail
- Hypermarkets/Supermarkets
- Convenience Store
- Retail stores
- Others
On the basis of region, the Global Synbiotic market has been segmented as
- North America
- Latin America
- Europe Barley
- CIS & Russia
- Japan
- APEJ
- The Middle East & Africa
Report Highlights:
- An overview of the Synbiotic market, including background and evolution
- Macroeconomic factors affecting the Synbiotic market and its potential
- Market dynamics, such as drivers, challenges and trends
- Detailed value chain analysis of the Synbiotic market
- Cost structure of the products and segments covered in the study
- In-depth pricing analysis, by key product segments, regions and by major participants in Synbiotic market
- Analysis of supply and demand, such as top producing and consuming geographies, imports/exports and overall trade scenario
- Analysis of the Synbiotic market structure, including a tier-wise categorization of key market participants
- Competitive landscape of the market, including detailed profiles of the top players in this market
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