Global Synbiotics Market: Overview
Synbiotics combine prebiotics and probiotics to improve the existence rate, application, and proliferation of the bacteria in the gastrointestinal tract and ensure that they reach the colon in adequate number. Synbiotics are made by substantial advances in the processing and formulation of technologies. These advances in the technology have improved the stability and efficiency of probiotics. The growing health awareness amongst the working population towards the nutritional supplementation is expected to enhance the sales of the synbiotics market during the forecast period. Synbiotics play a significant role in the alleviation of lactose intolerance, anti-allergic effects, osteoporosis prevention and prevent the risk of cardiovascular and carcinogenic disorders. Many manufacturers have increased the fortification of function ingredients which includes prebiotics, probiotics, and synbiotics in their product offerings and this provides nutritional enrichment along with associated health benefits.
Global Synbiotics Market: Drivers and Restraints
The growth in the dairy industry is expected to have a positive impact on the synbiotic market during the forecast period. The dairy industry is anticipated to have an immense growth in the particular countries namely, Ireland, New Zealand, China, and India, which further will enhance the sales of the synbiotics market across the globe. Also, the growing food & beverage industry in the Middle-East countries is expected to expose new opportunities and market avenues for a synbiotics market. However, the high manufacturing cost associated with the production of synbiotics is projected to be the greatest challenge for the market during the forecast period. Also, the technological advancement about the positioning of synbiotics in aquaculture is expected to increase the demand for synbiostic market during the forecast period. One of the greatest drivers for the market is the development of strategic partnerships with buyers in nutraceutical, pharmaceutical, and food and beverage industry. Through such acquisition, resources can be utilized to develop new product offerings. For instance, the acquisition of Synbiotics Corporation by Pfizer in 2010, at USD 20 million.
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Global Synbiotics Market: Segmentation
The synbiotics market report covers the detailed analysis of the following segmentation which includes, by application, form, and region.
Based on the application type the market is further segmented into:
- Food and beverage
- Pet Food
Based on the form synbiotics market is segmented into:
- Granular & powder
Global Synbiotics Market: Region-wise Outlook
Depending on a geographic region’s global Synbiotics market is segmented into seven broad regions: North America, Latin America, Western Europe, Eastern Europe, Asia Pacific Excluding Japan, Japan, and Middle East Africa. The growing pet food industry in China and India on account of the increasing domestic consumption and the increasing investment is expected to enhance the sales of the synbiotic market during the forecast period. APAC is projected to be one of the fastest growing markets during the forecast period on account of increasing demand for the dairy products in the region. India, China, and New Zealand are expected to be the major countries in the region with promising growth during the forecast period due to the increasing population rate and the diverse product offerings by the manufacturers in the field of dairy industry and the growing demand for dietary supplements.
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Global Synbiotics Market: Key Players
The Synbiotics market is fragmented and competitive, with a large number of players operating at the regional and local level. Some of the major key players in the market include,
SKYSTONE FEED CO., LTD
Yakult Pharmaceutical Industry Co., Ltd.
Ajinomoto Co., Inc.
Calpis Co., Ltd.
Institut Rosell-Lallemand Inc.
Morinaga & Company, Ltd.
Suntory Holdings Limited