Industry Overview
Global galacto-oligosaccharides (GOS) market size is expected to
reach 175.66 kilo tons by 2020, growing at a CAGR of 9.3% from 2014 to
2020. Growth in infant population is anticipated to drive GOS market
over the forecast period.
According to estimates, world population of children between ages 0-4
years was 642.2 million in 2010 and is expected to reach 1018.3 million
by 2050. Global baby food industry is expected to generate USD 55
billion by 2015 owing to high demand for infant formula, dried baby food
and prepared baby food.
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Prebiotics have been given GRAS status by U.S. FDA under section
201(s) of the Federal Food, Drug and Cosmetic Act. According to Article
13 of Regulation (EC) No. 1924/2006 by European Food and Safety
Authority (EFSA), it is also recognized in reducing gastrointestinal
discomfort and potential pathogenic micro-organisms.
Increasing use as low calorie sweeteners and food ingredients in food
& beverages application such as yogurt, soft drinks, chewing gums,
cookies, ice creams and powdered & clabbered milk is anticipated to
drive galacto-oligosaccharides market demand.
Low per capita yogurt consumption in U.S., (6.7 kg in 2012),
represents infancy statge. Increasing awareness regarding health
benefits of yogurt is likely to drive GOS market growth. Spoonable
yogurt, frozen yogurt and yogurt drinks combined generated retail sales
of USD 7 billion in 2012, which was 17% higher than in 2010.
Growing demand of substitute prebiotics products such as
Isomaltooligosaccharide (IMO) is likely to poses a possible threat to
GOS market growth. North Carolina State University has recently
developed new production technique from recombinant galactosyl
transferase. This factor is likely to open up new avenue for industry
growth.
Application Overview
GOS fortified food and beverages occupied a major chunk of the
global volume with revenue generation estimated at over USD 400 million
in 2013. This application is also likely to witness highest gains over
the forecast period. It helps in maintaining digestive health of middle
aged and elderly consumers and hence consumption of fortified food is on
the rise in population of all age groups. GRAS recognition is also
likely to surge its use in bars, dairy products, fruit drinks and
waters/quenchers, fruit preparations, baby foods, and milk beverages.
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Prebiotic dietary supplements accounted for more than 4% of the
demand in 2013 and are expected to witness gains at an estimated CAGR of
7% from 2014 to 2022. Growing nutraceuticals demand on account of
increased awareness towards nutrition is likely to surge GOS demand for
this particular application.
Regional Overview
Europe was the dominant region with valuation of over USD 250
million in 2013. Presence of many infant formula producing companies
including Danone, Humana and Ordesa Group has resulted in Europe being a
net exporter. This region is also influence by high demand from dairy
products, infant formula, functional foods, beverages, food supplements
and cosmetics.
Asia Pacific GOS market accounted for more than 25% of the total
volume in 2014 and is anticipated to witness highest gains at an
estimated CAGR of over 9.5% up to 2020. Asia Pacific is the largest
region for infant formulas owing to high demand from China as a result
of increasing infant population (82 million children under five years of
age).
Asia Pacific has immense growth potential as untapped markets
including India & China provide opportunities due to increasing
number of working women and rising per capita disposable income
resulting in foreign players entering into the region. Global infant
formula demand is expected to witness 2% annual growth with demand
growing faster in Asia Pacific
Competitive Market Share
Global GOS market share is highly consolidated and was dominated by
four companies, accounting for over 60.0% in 2013. Among these
companies, Royal FrieslandCampina was the largest with over 20.0% of
share in 2013. The Netherlands based FrieslandCampina is an integrated
product manufacturer with lactose and GOS manufacturing facilities.
Other major players include Yakult Honsha, Nissin Sugar, Ingredion, First Milk, Kerry, Samyang, Taiwan Fructose and Wuxi.
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