ID: MRFR/F-B & N/3306-HCR | February 2021 | Region: Global | 110 pages
Synbiotic Foods Market Scenario
Synbiotic foods are foods products containing a combination of prebiotics and probiotics in the form of synergism that stimulate the growth and survival of the bacteria in the gut. These bacteria are mostly found in the intestine and colon of a human body in the gastrointestinal tract. Synbiotic foods help to enhance the proper gut functioning, which could not be achieved in an adequate amount through regular diet. Thus, due to increasing awareness among consumers about these products, it is expected to drive the growth of the market. Additionally, the consumption of synbiotic foods provides various benefits including improving digestive health, enhancing immune function, decreasing inflammation, and also minimizing the risk of cardiovascular diseases. The market is expected to garner a revenue of USD 2.9 billion by 2024 at a CAGR of 5.8% during the forecast period 2019–2024. Synbiotic foods are gaining acceptance globally, owing to increasing health concerns among the population. However, the high price of synbiotic food can restrict the sales of such products, which, in turn, can hamper the growth of the market. The rising demand for functional food and beverages is also boosting the growth of synbiotic foods. Moreover, continuous R&D in this industry and strategic initiatives undertaken by major players are expected to drive the market during the review years.
The synbiotic foods market has been segmented based on type, distribution channel, and region.
By type, the global market has been classified as dairy products, beverages, infant nutrition products, breakfast cereals, and others.
The dairy products segment holds the major market share in global synbiotic market. However, dietary supplements are experiencing a high demand from consumers and are expected to rise during the forecast period.
The global market has been categorized, on the basis of distribution channel, as store-based and non-store-based.
The store-based segment has further been bifurcated into supermarkets and hypermarkets, convenience stores, and others.
The store-based segment is expected to gain major revenue share of the market. Whereas, the non-store-based segment is expected to fastest growing segment during the forecast period.
The global market has been studied with regard to four key regions—North America, Europe, Asia-Pacific, and the rest of the world.
The North American market has further been segmented into the US, Canada, and Mexico.
The European market has been classified as the UK, Germany, France, Italy, Spain, and the rest of Europe.
The synbiotic foods industry in Asia-Pacific has been divided into China, India, Japan, Australia and New Zealand, and the rest of Asia-Pacific. The Global market in the rest of the world has been segmented into South America, the Middle East, and Africa.
Yakult Honsha Co., Ltd. (Japan), H&H Group (Hong Kong), The Kellogg Company (US), Danone S.A. (France), General Mills, Inc. (US), Pfizer Inc. (US), Daflorn Ltd. (Bulgaria), Chobani Global Holdings, LLC (US), Probiotical S.p.A. (Italy), Chr. Hansen Holding A/S (Denmark), Diamond V (US), Sabinsa Corporation (US), Behn Meyer Deutschland Holding AG & Co. KG (Germany), Ajinomoto Co., Inc (Japan), and Asahi Group Holdings, Ltd (Japan) are some of the key players in the global synbiotic foods industry.
Regional Market Summary
In 2018 the European synbiotics food market gained the largest market share due to increasing consumption of functional foods with enriched nutrients. Asia-Pacific is expected to be the fastest-growing regional market in the symbiotic market. A rise in consumer awareness regarding the benefits associated with synbiotic foods is majorly driving the growth of synbiotic foods market in this region. Growing gut-related issues among the consumers are influencing the increasing demand for synbiotic foods in rest of the world.
Global Synbiotic Foods Market, by Type
Frequently Asked Questions (FAQ) :
Synbiotic Foods Market is expected to grow to USD 2.9 billion by 2024.
The Synbiotic Foods Market is expected to exhibit a strong 5.8% CAGR over the forecast period from 2020 to 2027.
Growing awareness about the health benefits of bacterial cultures is the major driver for the market.
Europe holds the largest share in the global synbiotic foods market.
Key players in the Synbiotic Foods Market include Kellogg, H&H Group, and Yakult Honsha, among others.