Galacto Oligosaccharides (GOS) Market to Exhibit a Healthy CAGR of 7.7 % between 2019 and 2029, says Future Market Insights
The worldwide galacto oligosaccharides market has been estimated to have a value of US$ 621 million, and grow with a healthy CAGR of ~7.7 %. Increased focus on improvements to the infant nutrition industry to boost gut health and immunity has given a boost to the market, according to Future Market Insights.
Galacto Oligosaccharide Gos Market
A recent market study published by Future Market Insights on the galacto oligosaccharides ...
Major companies are focusing on research and development to bolster product portfolios, while being in sync with the current trends of the industry. This in turn is expected to support the expansion of the GOS market through the forecast period of 2019-2029.
“Companies need to focus on newer emerging applications in adult nutrition and animal feed. Since the production of GOS is concentrated only in a few countries, companies need a stronger distribution network and sales channels for timely delivery of products to end-user industries,” says the FMI analyst.
Key Takeaways of the Galacto Oligosaccharides Market Study
- Galacto oligosaccharide is used primarily as a prebiotic ingredient accounting for more than 96 % of the overall market share. While still in a nascent stage, the function of GOS as a sweetener is projected to grow at an impressive CAGR nearing 11 % through the forecast period.
- In terms of end user industries, most galacto oligosaccharides products are used in the food and beverage sector, for human consumption, most of which goes into formulations of dietary supplements, followed by dairy products. The use of GOS in animal feeds is fairly new. However this end use application will grow by a strong CAGR of 8.7 %.
- Europe is the largest market for galacto oligosaccharides accounting surpassing 40 % of the overall market. On the other hand, the APEJ region currently accounts for more than 25 % of the global market is rising at a CAGR surpassing 9.5 %, owing to higher awareness about prebiotics and the development of plant based GOS.
- Pharmaceutical and personal care applications are also expected to go up with a strong CAGR approximating 8.4 %, with the growth of the nutraceuticals sector, and consumer inclination towards probiotics and prebiotics.
Galacto oligosaccharide GOS products are primarily available in powders and liquid formulations. Of these liquid GOS products are projected to dominate the industry with over 62 % of the global market share through the end of 2029. This can be attributed to a wider spread of applications including products such as fermented milk, yogurt, and more. On the other hand, powdered galacto oligosaccharides are anticipated to grow at a faster rate owing to increased adoption in nutraceutical and infant food formulations.
Get Valuable Insights into Galacto Oligosaccharides Market
Future Market Insights, in its latest report, presents an unbiased analysis of the global galacto oligosaccharides market, covering historical data and forecast figures for the period between 2019 and 2029. The study provides insights into the growth witnessed in the market. In terms of product type, the market is bifurcated into liquid and powder. On the basis of primary function, the market is split between prebiotic and sweetener. Based on end user, the market can be segmented into food and beverages, pharmaceuticals and personal care, and animal feeds. Regionally, the global market can be segmented into North America, Latin America, Europe, APEJ, Japan, and the Middle East and Africa.
About Food Market Division at FMI
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About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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