The global galacto-oligosaccharide market has shown significant growth on account of rising number of geriatric population and increasing health awareness among the people. Growing utilization of galacto-oligosaccharide in end user industry has opened various opportunities for the players operating in the global galacto-oligosaccharide market.
Backed by these factors, the galacto-oligosaccharides market is estimated to witness a significant growth over the next 10 years. In 2019, the market accounted for a market value of $483.93 Million and is estimated to grow by a CAGR of 10.15% over 2021-2028.
Research Nester has released a report titled “Galacto-oligosaccharide Market: Global Demand Analysis & Opportunity Outlook 2028” which also includes some of the prominent market analyzing parameters such as industry growth drivers, restraints, supply and demand risk, market attractiveness, year-on-year (Y-O-Y) growth comparisons, market share comparisons, BPS analysis, SWOT analysis and Porter’s five force model.
Regionally, the global galacto-oligosaccharide market is segmented into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa region. Among the market in these regions, the European galacto-oligosaccharide market is estimated to witness highest growth throughout the forecast period. Rising awareness towards nutritional enrichment among working professionals for maintaining the balanced nutrition in the human body and growing concerns over the hazardous effect associated with conventional pharmacy medicines are the major factors driving the growth of the global galacto-oligosaccharide market in this region. The galacto-oligosaccharide market in Asia is anticipated to grow at a CAGR of 11.02% during the forecast period. The rising intake of dietary supplements for the preservation of healthier lifestyles is driving the demand of the galacto-oligosaccharide market in this region.
The global galacto-oligosaccharide market is segmented by end user into food and beverage industry, pharmaceutical, personal care and animal feed. Among these segments, the food & beverage segment is estimated to witness highest growth rate owing to galacto-oligosaccharides’ excellent nutritional properties. It is widely used to increase the shelf life of dairy product such as yoghurt, butter, and cheese, and also as a nutritional additive. The food & beverage segment is estimated to grow by CAGR of around 9.89% over the forecast period.
The key fields where galacto-oligosaccharides are used include functional food & beverages and dietary supplements. Backed by a rising geriatric population globally and the increasing health awareness among the global population, there is a growing demand for various dietary supplements. Geriatric populations suffer from various age-related illnesses, thereby increasing the demand for consumption of dietary supplements. In dietary products, galacto-oligosaccharide has numerous beneficial effects, including increased mineral absorption, enhancement of bowel habits, control of serum lipid and cholesterol levels, and reduced IBD inflammation. Moreover, with the increasing number of patients with diabetes and the side effects of anti-diabetic medicines, new dietary supplementation from natural resources, particularly functional oligosaccharides, is increasingly required among customers. During the forecast period, such a factor is expected to drive the growth of the global galacto-oligosaccharide market.
However, it is anticipated that the presence of counterfeit goods in the low-price range would serve as a restraint to the growth of galacto-oligosaccharide market during the forecast period. Counterfeit products contain harmful chemicals and have a significant effect on consumers’ health.