CHICAGO, April 29, 2022 /PRNewswire/ — According to the report “HMO Market by Type (2’Fl, 3’Fl, 3’Sl, 6’Sl), Application (Infant Formula, Functional Food & Beverage, Dietary Supplement), Concentration (Acid, Neutral), and Region (North America, EuropeACPA, South AmericaRoW) – Global Forecast to 2027“, published by MarketsandMarkets™, the global HMO market is estimated at $199 million in 2022. It is expected to reach USD 556 million by 2027, registering a CAGR of 22.7% during the forecast period. The global HMO market has been influenced by some of the macroeconomic and microeconomic factors seen in some key countries. This would prove to be strong enough to boost the market significantly in terms of sales value over the forecast period. With the increase in the number of infants worldwide, the demand and preference for HMO-based infant formula along with the trend of adopting a healthy lifestyle by consuming functional foods and beverages has greatly boosted the use of HMOs in manufacturing.
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Rising health awareness leads to increased consumption of dietary supplements.
There are several health benefits associated with consuming HMO supplements, such as boosting immunity and supporting digestive health. Supplementation with FOS and inulin-like fructans has been shown to reduce body weight in overweight and obese adults and improve satiety.
According to an article shared by DSM, 2021 consumer interest in gut health has tripled in the past five years, indicating that it is quickly becoming a priority for many people around the world. As many as 74% of consumers aim to eat foods that support a healthy microbiome, and 57% of consumers are interested in products that improve their digestion. HMOs are unique gut-strengthening nutrients scientifically proven to support digestive health and immunity, closely related to the gut. Breast milk oligosaccharides, being a good source of FOS, are soluble and rich in dietary fiber. With all these beneficial characteristics, human milk oligosaccharides are rapidly gaining popularity in the dietary supplement industry across the globe. This strong consumer appeal creates an opportunity for brands to leverage emerging science to bring new, innovative gut health solutions to the dietary supplement market.
Digitization of Retail
One of the latest trends encouraging the growth of HMO compound products including infant formula and dietary supplements market is online grocery shopping and introduction of new apps. This makes it easy for consumers to buy their favorite products. Consumers are inclined towards online shopping due to features such as shopping convenience and availability of variety. According to Eurostat, in 2018 almost 25% of the population purchased food and groceries from online retail channels. With the increase in internet penetration and smartphone usage, grocery retail is emerging as one of the platforms for businesses to showcase and sell their food products. Additionally, the number of stores accepting online payments is increasing globally. Key factors such as increasing usage of smartphones, dedicated apps and emerging payment methods are driving the growth of the overall online grocery market. These factors are expected to contribute to the growth of consumer products derived from human milk oligosaccharides as an essential ingredient and, therefore, impact the market studied.
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Adoption of advanced technologies in the functional food industry
The most common emerging technologies in the functional food manufacturing industry are high hydrostatic pressure, ultrasonic and microwave assisted extraction, pulsed electric field, radio frequency drying, high voltage and supercritical fluids. These emerging technologies are not based on high temperatures but on the generation of heat by internal energy transmission (such as resistive and adiabatic with pulsating electric fields and high hydrostatic pressure, respectively) which minimizes the deterioration of sensory characteristics, nutritional and functional properties of food ingredients.
The introduction of technologies such as encapsulation, nanoencapsulation and bio-encapsulation is driving technological innovations in the functional food ingredients industry, which uses HMO as a key ingredient for the formulation of food supplements such as prebiotics and probiotics. These technologies are rapidly being adopted by food ingredient manufacturers to harmonize functional ingredients to formulate better tailored and personalized food products for consumers to meet growing demand.
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Asia Pacific should reach $321.8 million during the forecast period.
In 2021, Asia Pacific accounted for a 58.8% market share in the global HMO market. the Asia Pacific market is entirely driven by the national markets of China, India, Japan, Australia & New Zealand and some other Asian countries such as Taiwan, Thailand etc The regional Asia Pacific HMO market has witnessed the technological advancements brought in by the leading market players which has increased its usage in various industries. Being a densely populated region, the countries of Asia Pacific as China, India etc are experiencing a continuous increase in demand for food and nutritional products. The use of HMO in different industries such as infant formula, functional foods and beverages, dietary supplements in the manufacture of a range of infant foods, baby foods, dietary supplements, etc. is expected to drive the market over the forecast period. New developments introduced by major market players to offer advanced and convenient products to the global consumer are expected to boost the market.
Some of the key players in this market include DSM (Netherlands), BASF SE (Germany), Chr. Hansen Holding A/S (Denmark), DUPONT (United States) and Royal FrieslandCampina NV (Netherlands).
Functional Food Ingredients Market by Type (Probiotics, Prebiotics, Proteins and Amino Acids, Phytochemicals and Plant Extracts, Omega-3 Fatty Acids, Carotenoids, and Fiber and Specialty Carbohydrates), Source, Application, and Region – Global Forecast to 2026
Infant Formula Ingredients Market by Ingredient Type (Carbohydrates, Oils & Fats, Proteins, Vitamins, Minerals, Prebiotics), Application (Growing Up Milk, Standard Infant Formula, Follow-on Formula, Specialty), Form, Source, Region – Global Forecasts to 2025
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