Newark, Dec. 08, 2022 (GLOBE NEWSWIRE) -- The brainy Insights estimates that the synbiotics market will grow from USD 0.80 billion in 2022 and reach USD 1.50 billion by 2030. In just eight years, synbiotics has moved from an uncertain, standalone niche use case to a fast-growing, high return on investment (ROI) application that is truly delivering value to users. The increase in health issues of the growing population has raised the need for functional foods. Thus, demand for probiotics and prebiotics in available food & beverages is witnessing considerable growth prospects.
Download Report Sample (230+ Pages PDF with Insights) at: https://www.thebrainyinsights.com/enquiry/sample-request/13103
Key Insight of Synbiotics Market
Europe to account for largest market size during the forecast period
Europe is expected to have the largest market share in the synbiotics market. Key factors favouring the growth of the synbiotics market in Europe include the rising awareness about synbiotic products, due to the growing demand for functional food and the high visibility of the product, has raised the market's growth. A strong manufacturing base for food & beverage manufacturers, associated with the constant demand for probiotics and prebiotics in food, offers possible prospects for synbiotic incorporation in various food and beverage products. Also, European Union underlines providing hygienic food labelling with nutrition and health claims, leading to using synbiotic effects in formulating different regional products.
Powder Segment Accounted for the Largest Market Share of 34% in 2022
The form segment is divided into liquid, capsules, and powder. The powder segment dominated the market, with a market share of around 34% in 2022. The requirement for a high amount of fibre, which also helps in better digestion and manages blood sugar levels, is one of the essential factors pushing revenue growth of the market. Powdered products are highly beneficial for treating Inflammatory Bowel Diseases (IBD) and lactose intolerance by promoting proper digestion.
Food And Beverages Segment Accounted for the Largest Market Share of 25% in 2022
The application segment is divided into pharmaceutical, animal feed, food & beverages, dairy industry, and aquaculture farming. The food and beverages segment dominated the market, with a market share of around 25% in 2022. The major companies are invested in growing and manufacturing nutritional supplements with high nutritional value. The growing need for functional food & beverages for digestive, immunity, and cardio health, along with growing consumer awareness, are some of the primary factors driving the development of the segment.
Hypermarkets/Supermarkets Segment Accounted for the Largest Market Share of 18% in 2022
The distribution channel segment is divided into indirect/B2C, online retail, direct/B2B, hypermarkets/supermarkets, retail stores, convenience stores, and others. the hypermarkets/supermarkets segment dominated the market, with a market share of around 18% in 2022. The hypermarket and supermarket segment are anticipated to hold the dominant market share during the projection period. Customers prefer synbiotics from hypermarkets and supermarkets as they can be bought along with standard shopping trips for other essentials. Most supermarkets and hypermarkets have promotional offers and loyalty bonuses that are attractive to customers. These elements have contributed to the dominance of the supermarkets and hypermarkets segment. The online segment is anticipated to record the fastest growth rate during the prediction period. Online stores have different discounts running year-round, which helps decrease the prices of synbiotics.
For Report Purchase Enquiry: https://www.thebrainyinsights.com/enquiry/buying-inquiry/13103
Advancement in market
In February 2022, Sabinsa presented a new product called ‘CurCousin’. The product delivers healthy metabolism and supports to maintain blood sugar levels.
Market Dynamics
Drivers: Improve Mental Health
Including synbiotics in the diet may enhance mental function and save mental health by providing a strong dose of prebiotics and probiotics in each serving. As per the publication of the Journal of Neurogastroenterology and Motility, specific types of bacteria, like Bifidobacterium and Lactobacillus, have been shown to improve memory and symptoms of depression, autism spectrum disorder, anxiety, and obsessive-compulsive disorder.
Restraint: High Price
As the products provide numerous health advantages, and the manufacturing expenses are high, customers are expected to spend a premium price. However, the high price range of the products is considered to create limitations for the development of the synbiotic market size worldwide.
Opportunity: Increasing Demand for Prebiotics and Probiotics as Functional Food
The increase in health issues of the growing population has raised the need for functional foods. Thus, demand for probiotics and prebiotics in available food & beverages is witnessing considerable growth. Studies show that probiotics, when combined with prebiotics, form an excellent blend. The pre-pro combo, two supplements in one dosage form, is an effective way to deliver added advantages to customers of convenience and paired products, hence promoting its market need. The synbiotic products are mainly chosen as dietary supplements, commonly offered in the Licaps capsule in a capsule form.
For more information about this report visit: https://www.thebrainyinsights.com/report/synbiotics-market-13103
Some of the major players operating in the synbiotics market are:
- Behn Mayer & Company Private Limited
- Chr. Hansen
- Daflorn MLMS Limited
- Groupe Danone
- Pfizer Pharmaceuticals
- Sabinsa Corporation
- Skystone Feed Corporation Limited
- Yakult Pharmaceuticals
Key Segments cover in the market:
By Form:
- Liquid
- Capsules
- Powder
By Application:
- Pharmaceutical
- Animal Feed
- Food & Beverages
- Dairy Industry
- Aquaculture Farming
By Distribution Channel:
- Indirect/B2C
- Online Retail
- Direct/B2B
- Hypermarkets/Supermarkets
- Retail Stores
- Convenience Stores
- Others
By Region
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, Rest of APAC)
- South America (Brazil and the Rest of South America)
- The Middle East and Africa (UAE, South Africa, Rest of MEA)
About the report:
The market is analyzed based on value (USD Billion). All the segments have been analyzed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyzes driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter's five forces model, attractiveness analysis, Product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
Get an access to the library of reports at any time from any device and anywhere. For more details, follow the link: http://www.thebrainyinsights.com
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirement whether they are looking to expand or planning to launch a new product in the global market.
Contact Us
Avinash D
Head of Business Development
Phone: +1-315-215-1633
Email: sales@thebrainyinsights.com
Web: http://www.thebrainyinsights.com
