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Global polysaccharides and oligosaccharides market grew at a moderate CAGR of 3.4% during 2012-2016, owing to rising application in bakery & confectionery, functional beverages, infant formula, and animal feed products. In 2018, the global polysaccharides and oligosaccharides market surpassed a value of US$ 12.2 billion, and is expected to expand at a CAGR of 4.8% during the period between 2017 and 2026. Asia Pacific excluding Japan (APEJ) will continue to retain its leading position in the polysaccharides and oligosaccharide market. Expansion of food and agriculture industries in the region is expected to create opportunities for stakeholders. APEJ is also likely to be the most attractive region for polysaccharides and oligosaccharide market, growing at the highest CAGR of 5.7% during 2017-2026.
What are the Key Factors Driving the Global Polysaccharides and Oligosaccharides Market?
- Polysaccharides derived from plant foods are one of the important components in human diet, and used in numerous applications ranging from infant formula to functional beverages. Steady demand for these products continues to drive the polysaccharides and oligosaccharides market.
- In the recent past, oligosaccharides have attracted attention from synthetic chemists for medical applications and are widely used as prebiotics, owing to their non-digestible properties. Growing use of prebiotics in dairy industry and food supplements is influencing the growth of polysaccharides and oligosaccharides market.
- Rising health awareness among consumers, along with growing health-conscious population has led to several lifestyle changes and shift in focus towards healthy and nutritious food products. This, in turn, is likely to complement the global expansion of polysaccharides and oligosaccharides market.
- Government initiatives for the expansion of food industry to meet the ever-increasing demand, especially in emerging economies is likely to work to the advantage of polysaccharides and oligosaccharides industry.
- Oligosaccharides are one of the important components of human milk with specific biological functions; commercially available oligosaccharides have been gaining wide adoption in infant formula, on the account of functions such as prebiotic activity, anti-inflammatory properties, brain development, and growth-related characteristics.
- Players in the polysaccharides and oligosaccharides industry are constantly making efforts to replicate the effects of human milk oligosaccharides in order to improve the product quality and strengthen their presence in the global market.
Polysaccharides and Oligosaccharides Market – Competitive Landscape
- In March 2019, Givaudan, a leading player in the polysaccharides and oligosaccharides market, announced that it has entered into a long-term partnership with a South Korea-based beauty innovation company – Bio FD&C, to strengthen its Active Beauty capabilities in phytopeptides and plant cell culture.
- In March 2019, ABF’s AB Enzymes launched ROHALASE® SEPARATION, the latest addition to its ROHALASE® grain processing enzyme portfolio. According to company, the newest addition is a food-grade enzyme particularly developed for wheat-starch-gluten separation processes.
- In February 2019, Tate & Lyle PLC in partnership with Sweet Green Fields and Earthwatch, launched a new research project to assess best sustainability practices for its stevia sweetener supply chain.
Other leading players operating in the global polysaccharides and oligosaccharides market include Dupont, DSM, McComick, Novozyme, Chr Hansen, Wild Flavors, Symrise, IFF, Firmenich, Takasago, Senseint, and Glanbia Ingredients. Product innovations and new launches along with mergers & acquisitions are some of the key growth strategies adopted by polysaccharides and oligosaccharides market players.
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Although polysaccharides continue to lead the global market of polysaccharides and oligosaccharides, the latter is expected to gain comparatively high traction, growing at a promising CAGR of 5.2% during 2017-2026. In 2018, worldwide sales of polysaccharides closed in on a valuation of nearly US$ 6.4 billion, and is projected to record a Y-o-Y growth of 4.6% in 2019. Growing adoption of polysaccharides and oligosaccharides in animal feed products is creating lucrative opportunities for stakeholders. Although dairy products are likely to account for highest revenue share in polysaccharides and oligosaccharides market, demand from animal feed is expected to register the highest CAGR of 6.5% during 2017-2026. By source, bacteria is envisaged to remain the leading source of polysaccharides and oligosaccharides, followed by plants segment.
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