The global synbiotics market is anticipated to witness growth over the forecast period. Growing health awareness among consumers towards nutritional supplementation is expected to play a major role driving market growth over the next seven years. Synbiotics plays an important role in alleviation of lactose intolerance, anti-allergic effects, osteoporosis prevention, and reducing risk of cardiovascular and carcinogenic disorders. Manufacturers in food & beverage and nutraceutical industries have increased the fortification of functional ingredients such as prebiotics, probiotics, and synbiotics in their product offerings in order to provide nutritional enrichment and associated health benefits. Synbiotics is a combination of probiotic as well as prebiotic ingredients, which is used for improving gut health and modulating the bacteria in the host to improve gastrointestinal function. On account of nutritional benefits, synbiotics are also finding application in pet foods and pharmaceutical industries. Rising importance of fibers in food & beverage industry is expected to pave the way for use of synbiotics in dairy products. Dairy industry growth in Ireland, New Zealand, China, and India is expected to have a positive impact on the market in the near future owing to large scale benefits. In addition, growing use of synbiotics in other developing nations is expected to propel market growth over the forecast period.
In March 2015, the European Commission lifted quota for the production of dairy products in the region. As a result, market players of dairy industry in Europe are anticipated to increase their production capacity and are likely to promote synbiotics market growth over the forecast period. Growing pet food industry in China and India on account of growing domestic consumption and increasing new investments is expected to fuel market demand over the forecast period. High manufacturing cost associated with synbiotics production is expected to be challenging factor for market players in the near future. Growing food & beverage industry in the Middle East is expected to open new market avenues for market in the near future. Infant formula manufacturers in Europe are shifting manufacturing base to China and Japan on account low manufacturing cost is expected to have a positive impact on the market over the forecast period. Technological advancement pertaining to the deployment of synbiotics in aquaculture is expected to increase the market penetration in the near future. Synbiotics are available in the form of bifidobacteria bifidum, bifidobacteria longum, bifidobacteria infantis, fructooligosaccharide, lactobacillus acidophilus, lactobacillus bulgaricus, lactobacillus salivarius, lactobacillus pantarum, lactobacillus casei, and lactobacillus sporogenes.
Asia Pacific is expected to be one of the promising markets over the forecast period on account of dairy industry growth in China, India, and New Zealand. Growing demand for dietary supplements in China and India on account of increasing awareness about nutritional benefits of functional foods is expected to have a positive impact on synbiotics market over the next seven years. In July 2014, European Food Safety Authority (EFSA) lowered the upper limit in use of proteins and other supplements such as synbiotics in the fortification of infant food products and is thus expected to have a negative impact on market. Robust manufacturing base of food & beverage manufacturers coupled with increasing popularity of functional foods in the U.S. is expected to be a favorable factor for the market.
Positive outlook on food & beverage industry in Brazil and South Africa on account of increasing domestic consumption is expected to promote synbiotics market demand over the forecast period. In April 2013, Beef Cattle Research Council funded a study at USD 500,000 for exploring the use of synbiotics in the cattle industry which is expected to force manufacturers to increase R&D expenditure on new product developments. In December 2014, Sabinsa and Fruit D’or Nutraceuticals formed a strategic partnership to develop a new symbiotics product Lactocran, intended for use in improving gut and digestive health. Major players in the synbiotics market include Daflorn, Chr. Hansen, Skystone Feed, Newleaf, Behn Meyer, Yakult Pharmaceuticals, and Pfizer. In December 2010, Pfizer acquired Synbiotics Corporation at USD 20 million. The formation of strategic partnerships with buyers in food & beverage, pharmaceutical and nutraceuticals industries is expected to remain the critical success factor for market players in the near future. The acquisition is expected to utilize the expertise of Pfizer in pharmaceutical industry to develop new product offerings and tap new markets in the near future.
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The demand for nutraceuticals & functional foods is expected to witness an upward surge owing to consumers opting for immunity boosting supplements during the COVID-19 pandemic. Furthermore, a decline in the consumption of poultry, meat and seafood products across the globe is expected to increase the demand for plant and animal-based protein supplements in the near future. The report will account for Covid19 as a key market contributor.