San Francisco, March 29, 2016 (GLOBE NEWSWIRE) -- Global Galacto-Oligosaccharides (GOS) Market is expected to reach USD 1.01 billion by 2020, according to a new study by Grand View Research, Inc. GOS have an ability to provide infant feed with properties equivalent to human milk, thus making it an ideal substitute to natural feeding. Growing infant formula demand in China and India would have a positive impact on GOS market in the near future. Market players have launched new products and framed innovation strategy intended for nectars, yogurt, sugar confectionary and flavored milk. These developments are expected to play an important role in driving market growth over the next six years.
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GOS was majorly used in food & beverage industry, accounting for more than 90% of market volume in 2013. Application growth in cereals, ice creams and dairy products is expected to fuel GOS demand in this segment over the next six years.
Further key findings from the study suggest:
- Global GOS market was 94.1 kilo tons in 2013 and is expected to reach 175.7 kilo tons by 2020, growing at a CAGR of 9.3% from 2014 to 2020.
- GOS demand in dietary supplements is expected to witness growth on account of nutraceutical market growth in light of the increased awareness towards nutritional food. Growing nutraceutical demand in China and India is expected to have a positive impact on market over the next six years.
- Europe is expected to be the largest market, accounting for over 50% of revenue share in 2013. Growing baby food demand is expected to drive GOS market in Europe over the forecast period.
- Asia Pacific is expected to be a promising market and witness fastest growth at a CAGR of 10.0% from 2014 to 2020. Positive food & beverage industry outlook coupled with increased expenditure on technological advancement China and India is expected to have a significant impact on GOS market in the region.
- Yakult, Nissin, Royal FrieslandCampina, Ingredion are expected to dominate global market, accounting for over half the market share in 2013. Royal Friesland Campina and Yakult sell their products under the brand names vivinal GOS and OLIGOMATE, respectively.
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GOS Application Outlook (Volume, Tons; Revenue, USD Million, 2009 - 2020)
- Food & beverage
- Dietary Supplements
- Others
GOS Regional Outlook (Volume, Tons; Revenue, USD Million, 2009 - 2020)
- North America
- Europe
- Asia Pacific
- RoW
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