Fact.MR predicts the sales of galacto oligosaccharide to exceed US 2.24 Bn by registering a CAGR of 9% in the forecast period 2022-2032. Increasing lactose intolerance along with the prevalence of veganism is positively influencing the sales of galacto oligosaccharide. In addition, adoption of galacto oligosaccharide in the food and beverage industry is augmenting the demand for the same.
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Historically, from 2016 to 2020, the sales of galacto oligosaccharide surged at a CAGR of 7%. The onset of COVID-19 affected various industries across the globe. But, on the other hand, people invested in immunity boosting beverages. Although the sales of galacto oligosaccharide were affected in the initial quarters of the pandemic, the demand for the same is expected to retrieve.
Furthermore, demand from geographical region such as Europe and Asia Pacific is accelerating the sales of galacto oligosaccharide. Manufactures are focusing on retaining and amplifying the quality of galacto oligosaccharide for the benefit on consumers. This, in turn, is expected to bolster the demand for galacto oligosaccharide in the assessment period.
Key Takeaways from the Market Study
- By product type, liquid galacto oligosaccharide expected to hold 59% market share for galacto oligosaccharide.
- By end user, food and beverage industry expected to possess more than 50% of market share for galacto oligosaccharides.
- Galacto oligosaccharides industry expected to possess nearly 45% market share throughout Europe.
- Galacto oligosaccharides industry is expected to possess nearly 25% market share throughout Asia
- Global market for galacto oligosaccharide to reach US$ 950 Mn by 2022
“Lactose intolerance is playing a key role in the increasing demand for galacto oligosaccharide. Also, people are investing in vegan products that would maintain their gut health.” states a Fact.MR analyst.
- In May 2018, Royal Friesland Campina N.V human like milk oligosaccharide ingredient was certified by EU and GRAS status for European and U.S. markets.
- Prominent galacto oligosaccharide include Yakult Pharmaceuticals Pvt Ltd, Royal Friesland Campina N.V, Nissin Sugar Co., Ltd, Ingredion Incorporated, Kerry Inc, Quantum Hi-Tech (China) Biological Co., Ltd, Saputo Dairy UK, Baolingbao Biology Co., Ltd, Samyang Corporation and New Francisco Biotech Company.
More Valuable Insights
Fact.MR, in its new offering, presents an unbiased analysis of the global galacto oligosaccharides market, presenting historical demand data (2017-2021) and forecast statistics for the period of 2022-2032.
The study reveals essential insights on the basis of product type (liquid and powder), primary function type (prebiotic and sweetener) and end use type (food and beverage, animal feed and pharmaceutical & personal care), across seven regions (North America, Latin America, Europe, East Asia, South Asia, Oceania and Middle East & Africa).