Study shows growth in the polysaccharides and oligosaccharides market
The global polysaccharides and oligosaccharides market exceeded a value of US$ 12.2 billion in 2018.
The study (Polysaccharides and Oligosaccharides Market by Fact.MR) tracked the polysaccharides and oligosaccharides market for the period 2017-2026 and predicts that the market is likely to grow at a CAGR of 4.8% during the forecast period.
A surge in the demand for polysaccharides and oligosaccharides for use in bakery and confectionery, dairy products, functional beverages, infant formula, and animal feed are the key factors driving market growth, says the report.
Rising health awareness among individuals along with proliferating health-conscious demographic has led to significant changes in eating habits and shift in focus towards nutritious and healthy food products. This, in turn, is likely to strengthen the polysaccharides and oligosaccharides market.
The study further finds that heavy investments in the food industry and favourable government initiatives may bode well for the expansion of the market.
Polysaccharides and oligosaccharides market in Asia Pacific Excluding Japan (APEJ) reached a value of more than US$ 5.7 billion in 2018. Significant demand for polysaccharides and oligosaccharides has also been witnessed in Europe and North America.
As compared to oligosaccharides, polysaccharides are expected to hold a relatively high value share of the overall market. In 2018, the segment surpassed a value of US$ 6.4 billion, and is estimated to record a year-on-year growth of 4.6% in 2019.
By source, bacteria will continue to maintain its leading position in the global polysaccharides and oligosaccharides market, registering a significant growth of 5.1% in 2019 through 2018. Plants are also likely to emerge as an attractive source of polysaccharides and oligosaccharides, representing the second highest share of the market revenue in 2018.
Based on application, the dairy products industry is expected to account for high revenue share in this market, backed by rising demand of innovative yet healthy ingredients in dairy products.
The consumption of polysaccharides and oligosaccharides in animal feed has also been increasing in the recent years, owing to their nutritional benefits to animal’s gut health. The segment is anticipated to emerge as the most lucrative application area for polysaccharides and oligosaccharides in the future.
Lack of understanding of biosynthesis of polysaccharides and their extraction process along with high costs of chemical synthesis may pose as potential threat to the growth of polysaccharides and oligosaccharides market. Further, the presence of substitutes with similar potential and functional benefits, mostly in infant formula, is likely to create a hindrance in market expansion.