Food & beverage applications were the large largest segment and Accounted for more than 65% of the total volume in 2014. Dietary supplement application is likely to grow at a steady rate over the Forecast period. The global probiotics market is expected to exceed USD 53 billion by 2023.Europe inulin market size is estimated over 125 kilos in 2015 and is expected to be moderate. Asia Pacific is likely to be the most popular of all. 10% from 2016 to 2023 owing to increase in functional foods consumption, especially in China, Australia and India.
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Increase in application scope for probiotic ingredients market, for food & beverages industry. This is the best way to get the best ice creams and spoonable yogurts. Growing importance of low caloric sugar consumption in food & beverage industry is also likely to drive demand. Stable inulin market price trend is expected to be of help application development and penetration.
Food & beverages application is likely to dominate over the period. Growing diary product demand in Asia Pacific and MEA. This factor is likely to positively influence market growth.
Inulin helps to stimulate bacterial growth through its non-digestible fiber. This is a good idea. It is also used in applications such as construction coatings and animal feed.
Increasing application scope in pharmaceutical industry. FDA has a reputation as a recognized as safe (GRAS).
Rising use of alternative probiotic ingredients such as GOS and MOS is likely to be a challenge to the industry. Abundant raw material availability in the form of chicory root in Europe and China. Europe is likely to add manufacturing site in the region.
Europe dominated the regional demand owing to favorable regulatory policies for incorporating functional ingredients for food & beverages applications. Sluggish food & beverages industries in Germany, Spain and Italy.
North America is likely to grow at steady rates. Latin America is likely to become significant gains in dairy products in Brazil. MEA is also likely to grow at significant rates.
Asia Pacific is likely to be the fastest growing region. China and India inulin market expected to benefit from government policies favoring FDI. Increase in functional food demand for the benefit of the child.
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Baby food manufacturers such as Nestle and Danone have recently announced that the company is expanding its production capacity in India and China. Indian government in India at state level. This initiative is likely to boost chicory roots production in India and ensure stable raw material supply in the region.
The global inulin market share is consolidated and also is highly competitive with limited number of companies. Key industry participants include Jarrow Formulas, Beneo-Orafti, Cosucra and Sensus. Companies are involved in strategic partnerships for product innovation.
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