Global Galacto-Oligosaccharide Market Outlook 2028

Global Galacto-oligosaccharide Market Analysis 2019-2028

Galacto-oligosaccharides are made up of linked plant sugars in chains. They are present naturally in foods such as dairy products, beans, and some root vegetables. People use galacto-oligosaccharides as prebiotics. Prebiotics serve as food for the 'healthy' bacteria in the stomach. Most often galacto-oligosaccharides are used for treating stomach conditions such as constipation and for the treatment of allergies in infants. The global galacto-oligosaccharide market is anticipated to achieve a CAGR of 10.15% during the forecast period, i.e. 2021-2028. Owing to its light sweetness and low-calorie properties, there is a rising demand for oligosaccharides as low-calorie sweeteners in confectionery, drinks and milk products, which in turn is driving the growth of the global galacto-oligosaccharide market. Moreover, factors such as increasing health awareness and rising geriatric population along with a wide range of use of galacto-oligosaccharides in end user industry are anticipated to drive the growth of the global galacto-oligosaccharide market.

The global galacto-oligosaccharide market consists of various segments that are segmented by end user and by region. The market is further segmented by end user into food & beverage industry, pharmaceutical, personal care and animal feed. Out of these, the food & beverage industry segment registered the largest market share of around 70% in the year 2019 and is further expected to reach a value of around USD 400 Million by the end of 2020. The segment's rise is mainly owing to the outstanding nutritional properties of galacto-oligosaccharides. It is commonly used to boost the shelf life of dairy products such as milk, butter, and cheese. The segment of the food & beverage is further split into products, demographics and applications. In the application segment, the dairy goods subsegment reported the largest market share with a value of around USD 150 million in 2019 and anticipated to grow with a CAGR of around 10% during the forecast period.

Based on region, the global galacto-oligosaccharide market is segmented into five major regions including North America, Latin America, Europe, Asia Pacific, Middle East and Africa. The market in Europe held the highest share in 2019 and is estimated to hold this position throughout the forecast period. The galacto-oligosaccharide market in Europe is anticipated to grow significantly during the forecast period owing to the increasing awareness towards nutritional enrichment among working professionals for maintaining the well-being of the human body. Growing concerns over the ill effect associated with conventional pharmaceutical medicines are anticipated to drive the market's growth during the forecast period.

Some of the affluent industry leaders in the galacto-oligosaccharide market are FrieslandCampina Ingredients, Yakult Pharmaceutical Industry Co., Ltd, Ingredion Incorporated, Quantum Hi-Tech (China) Biological Co. Ltd., New Fransisco (Yunfu City) Biotechnology Corporation Ltd., Nissin Sugar Co., Ltd., Baolingbao Biology Co., Ltd., SAMYANG Corporation and others.