Hexa Research: FOS Market Size Worth $3.52 Billion by 2024.
According to the research result from Hexa Research, Fructo-oligosaccharide (Market) is gaining popularity as a functional ingredient in food industry. The global FOS size is expected to reach $3.52 Billion by 2024. FOS helps maintain growth of nonpathogenic intestinal micro flora and is remaining demands especially for infant food from emerging economies include China and India. The study shows in the future 8 years, new product launches that containing FOS by the leading companies in DAIRY like Danone and Arla Foods will be extended.
Functional foods remain the biggest market share of more than 25% in 2015. It is estimated to expand at a CAGR of around 8.0% over the forecast period. A great mount of manufacturers are keep rising investment in R&D ingredients for the production of FOS-based functional foods. This is a good opportunity to expand the international market. Bone health and maintaining recommended calcium intake are becoming more and more important in dairy products and they are expected to significantly increase consumption of FOS.
The report also demonstrated that Dietary supplement is expected to be the fastest growing application segment with an expected double digit growth over the forecast period. Development of sports nutrition industry as a result of rising awareness regarding healthier life style and weight management are expected to elevate demand for FOS in near future. Meanwhile, increasing needs from pet food industry, especially in countries like India and China is expected to further fuel market growth. Animal feed market in the countries that mentioned above is estimated to expand by 10.0% to 12.0% from 2016 to 2024.
All data derived from Hexa Research and Markets Insider
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