Galacto-oligosaccharide (GOS) market is anticipated to witness significant growth over the forecast period on account of increasing attention towards quality of food and beverages. It is a colorless and water soluble substance which increases the shelf life by reduction of microbial contamination.
GOS is highly stable in various temperature ranges, thereby facilitating utilization in numerous applications. Moreover, the low calorific value of the product makes it suitable for utilization by diabetic people.
China GOS market revenue, by application, 2015 (%)
GOS is being increasingly used as low calorie sweeteners in confectionery products, beverages, milk products, as well as bread. Presence of nutritional content similar to human milk allows it to be used in infant formulations, ultimately leading to growth.
The key applications of the product include functional food & beverages and dietary supplements. Other applications include cereals, confectionery, meat replacers, bakery products and cosmetics. Shifting trend towards breakfast cereal consumption from traditional homemade preparations in emerging economies of China, India and Brazil on account of health benefits is expected to further drive the demand over the forecast period.
Europe was the largest market in 2015 followed by Asia Pacific and North America. Manufacturers in the developed economies have been focusing on developing high purity and more efficient mixtures to cater to demand from high end applications. This is likely to develop new opportunities for the market over the next nine years.
The GOS market is characterized by presence of few players with major share. The top few players account for over 60% of the share. Requirement of extensive R&D investment is anticipated to increase barriers for the new players. The major manufacturers have been expanding their manufacturing capacity in order to cater to rising demand.
In-depth report on global galacto-oligosaccharide (GOS) market by Grand View Research: