Global Fructooligosaccharide Market - Growth, Trends, and Forecast (2018 - 2023)
Fructooligosaccharide is widely used as a natural sweetener in region like Japan. Owing to its soluble fiber, it has prebiotic property, which is popularizing its application in functional food. Regulatory approval for FOS usage in infant formula is another major factor accelerating its sales value. Inulin is the widely used commercial source of FOS. Pharmaceutical application of FOS is the new growth opportunity for the market.
Increasing Demand for Low-calorie Sweeteners
Low-calorie sweeteners have been safely used and enjoyed by consumers all over the world for more than ten years. In 2016, the market for the same recorded a revenue of USD 11.4 billion. It has been used in Japan for many decades, while its usage in Asia-Pacific and other western countries is expanding. Due to its increased usage in a variety of food and drink products, including soft drinks, chewing gum, confectionery, yoghurts, frozen desserts, dessert mixes, etc., the market penetration for the same is growing.
The global fructooligosaccharide market has been segmented on the basis of product type, source, application, and geography. Based on product type, the market can be categorized into solid and liquid. The market for the powder form of fructooligosaccharide is growing at a faster rate, owing to its efficient product formulation and shelf life. By application, the market can be segmented into food & beverage, infant formula, dietary supplements, animal feed, and pharmaceuticals. By source, the market can be categorized into inulin, sucrose, and food dextrin. Inulin holds a major share in the overall market, as it is used for FOS and accounts for about 40% of the market.
FOS in the Infant Formula is a Growing Opportunity for Asia-Pacific
In China, abolishing ban on the one child policy is fueling the growth of infant formula market. The demand for specialty/premium ingredient used in infant formula is growing in Asia-Pacific, which is proved to be a great market opportunity for the market. North America and Europe are the leading region for fructo oligosaccharide market. Japan is a mature market in Asia-Pacific.
Innovation Is the Key Strategy for Players
Acquisition and expansion of production capacity are the common strategies adopted by the major companies. Companies focus on innovation in FOS-based fiber for animal feed application, which has a wide scope in the coming years.
Major players - BEGHIN MEIJI, BENEO-ORAFTI SA, CARGILL INC., CJ CHEILJEDANG, COSUCRA-GROUPE WARCOING SA, GTC NUTRITION, INGREDION INCORPORATED, JARROW FORMULAS, PREBIOTIN, QUANTUM HI-TECH, SHADONG BAILONG CHUANGYUAN, VICTORY BIOLOGY ENGINEERING CO. LTD. among others.
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