The global human milk oligosaccharides (HMO) market size was USD 60.0 million in 2015. The demand for HMO is likely to grow at a considerable rate on account of increasing consumption of dietary supplements, high focus on gut health, and growing dairy industry. Lack of sufficient protective enzymes in human milk and general infant formulas has led to high infant mortality rate, which is likely to promote utilization of human milk oligosaccharides over the forecast period.
Functional food & beverages, food supplements, and infant formulas are the key application of human milk oligosaccharides. The presence of human milk oligosaccharides in infant diet prevents as well as cures diseases which are likely to have a positive impact on growth. The prebiotic effects and antimicrobial protection allow it to be used in pharmaceuticals as well as medicinal supplements. However, high R&D cost, stringent government regulations, and lack of technical expertise are likely to restrain growth over the next eight years.
UK human milk oligosaccharide market revenue, by application, 2013 - 2024 (USD Thousand)
Extensive R&D coupled with rising awareness regarding its benefits is expected to propel demand over the coming years. In addition, changing consumer lifestyle coupled with an increase in a number of working women are expected to increase utilization of human milk oligosaccharides based infant formulas and functional food over the next eight years.
Manufacturing of HMO involves chemicals, enzymes, as well as microbes as raw material along with high initial cost and complex technology, which has been restricting large-scale production of human milk oligosaccharides. However, market players are focusing on developing low-cost production technologies for commercial-scale synthesis of human milk oligosaccharides.
Human milk oligosaccharides are used in a host of applications including functional food & beverages, food supplements, and infant formulas. Infant formula accounted for the major share of over 70% in terms of market volume. High infant mortality rate and increasing focus on production of infant formulas for babies deprived of mothers’ milk is expected to propel market demand. Rapid technological advancements in this field are likely to have a positive impact on the market over the forecast period.
Functional food & beverage application is anticipated to witness the significant growth of about 12% in terms of value. The prebiotic properties, high nutritional content, and ability to enhance memory & brain development are expected to promote human milk oligosaccharides use in the segment over the forecast period.
Europe dominated the global market in 2015, accounting for over 30% of volume share. The presence of a large number of manufacturers coupled with increasing demand for infant formulas is expected to augment growth. In addition, the considerable growth of dairy products demand in the UK and Germany is expected to have a positive impact on the human milk oligosaccharides market over the coming years.
Asia Pacific is expected to witness the substantial growth of over 10% on account of growing concerns regarding chronic diseases such as high blood pressure, diabetes, and rickets. Moreover, rising demand for dietary supplements from India and China is expected to facilitate growth.
Key players in the global HMO market include Elicityl SA, Inbiose, Medolac Laboratories, ZuChem, Jennewein Biotechnologie, Glycom, and Glycosyn. The market is consolidated and has a limited number of product manufacturers. This has led to the high competitive rivalry, leading to the adoption of various strategies by the companies.
Extensive R&D for development of cost effective technology coupled with high R&D cost has led to high entry barriers for new entrants. However, with technological advancements and reduction in prices, the market is likely to witness investments over the forecast period.
Inbiose uses fermentation technology for manufacturing of human milk oligosaccharides. It is one of the most economical methods for commercial scale production. Other methods such as chemical and enzymatic synthesis are expensive and have limited raw material availability, thereby restraining the market.
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