Synbiotic Foods Market Growth, Revenue, Overview, Forecast To 2024

Synbiotic foods have shown a high demand from the manufacturers of food & beverage and nutraceuticals products due to the products extraordinary nutritional worth and associated health benefits. Synbiotic fortified foods has been found to be very much valuable for people with glucose intolerance. Also, products fortified with synbiotics supports in preventing osteoporosis and reduce the risk of cardiovascular diseases, which is majorly driving the synbiotic foods market.

Increasing health troubles in the population has surged the demand for functional food with supplemented nutrient value and connected health benefits which has raised the demand for Synbiotic Foods Market Growth. Furthermore, high demand for synbiotic food supplements in pet and animal feed products is adding fuel to the growth of synbiotic foods market. Additionally, all these factors are projected to contribute to the estimated CAGR of 10.0% of synbiotic foods market during the forecast period 2017-2023. 

Downstream Analysis

Synbiotic foods is segmented on the basis of type which includes, dairy and frozen desserts, bakery and confectionary, snacks, beverages, dietary supplements and others. Dairy and frozen desserts is dominating the market in this segment. High consumption of dairy and frozen products in the population is driving the growth in this segment. However, dietary supplements is experiencing a high demand from consumers and is likely to grow during the forecasted period.

On the basis of product packaging material, the synbiotic foods market is segmented as glass, plastics, metals, paper and paperboard and others. Among all, the packaging material, plastic material is dominating the market because of its toughness. However, the demand for synbiotic foods packed in paper and paperboards is expected to experience a high demand due to its easy re-cycling and less chance of food migration.

On the basis of the distribution channel, the market is segmented into store-based and non-store-based distribution channel. However, the store-based distribution channel is dominating the market based on one-stop shopping experience.

Competitive Analysis

The major players in the Synbiotic Foods Market

• Daflorn Ltd. (Bulgaria)
• Hansen (Denmark)
• SKYSTONE FEED CO., LTD (China)
• Behn Meyer Holding AG (Germany)
• NewLeaf Symbiotics, Inc. (U.S.)
• Yakult Pharmaceutical Ind Co Ltd. (Japan)
• Pfizer Inc. (U.S.)

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Market Segmentation

Synbiotic Foods Market is segmented based on Type, Packaging Material, Distribution Channel and Region.

Regional Analysis

Global Synbiotic Foods Market is segmented into North America, Europe, Asia Pacific, and rest of the world (RoW). In the global synbiotic foods market, Europe is dominating among all the regions followed by Asia Pacific. Europe has the major consumption of synbiotic food products, owing to health benefits associated with the consumption of synbiotic food products. In Asia Pacific, China holds the highest market share of synbiotic foods market.

Moreover, increasing awareness, benefits associated with the consumption of functional foods in country like China and India, a strong progress is anticipated in the synbiotic foods market in Asia Pacific region. Also, high focus on R & D in synbiotic foods to improve the nutritive value, which is anticipated to elevate the market for synbiotic foods at the global level.