HMO Market worth $556 million by 2027 - Exclusive Report by MarketsandMarkets™

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 & Beverages, Food Supplement), Concentration (Acidic, Neutral) & Region (North America, Europe, APAC, South America, RoW) - Global Forecast to 2027", published by MarketsandMarkets™, the global HMO market is estimated to be valued at USD 199 million in 2022. It is projected to reach USD  556 million by 2027, recording a CAGR of 22.7% during the forecast period. The global HMO market has been influenced by some of the macroeconomic and microeconomic factors witnessed in some key countries. This would prove strong enough to drive the market significantly in terms of value sales during the forecast period. With the rise in the number of infants across the globe, the demand and preference for HMO-based infant formula along with the trend of adopting a healthy lifestyle by consuming functional food and beverages has significantly boosted the utilization of HMO in manufacturing.

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Growth in health awareness leads to increased consumption of dietary supplements.

There are several health benefits associated with the consumption of dietary supplements composed of HMO, such as boosting immunity and supporting digestive health. Supplementation with FOS and inulin-type fructans have been shown to reduce body weight in overweight and obese adults and enhance satiety.

According to an article shared by DSM, 2021, the consumer interest in gut health has increased threefold in the last five years, indicating this is quickly becoming a priority for many individuals worldwide. A staggering 74% of consumers aim to eat foods that support a healthy microbiome, and 57% of consumers are interested in products that enhance their digestion. HMOs are unique, gut-strengthening nutrients, scientifically proven to support digestive health and immunity, closely linked to the gut. Human milk oligosaccharides, being a good source of FOS, are soluble and rich in dietary fiber. With all these beneficial features, human milk oligosaccharides are gaining rapid popularity in the dietary supplement industry across the globe. This strong consumer pull creates an opportunity for brands to leverage emerging science to bring new and innovative gut health solutions to the dietary supplements market.

Digitalization of retail industry

One of the latest trends encouraging the growth of the HMO composed products, including infant formulas and dietary supplement products market, is through online grocery shopping and the introduction of new apps. This makes it convenient for consumers to purchase their preferred products. Consumers are inclined toward online shopping due to features such as the convenience of purchase and availability of a variety. According to Eurostat, in 2018, nearly 25% of the population bought food and groceries from online retail channels. With the increase in penetration of the internet and smartphone usage, retail grocery shopping is emerging as one of the platforms for companies to showcase and sell their food products. Moreover, the number of stores accepting online payments is rising globally. Key factors such as the increase in smartphone usage, dedicated apps, and emerging payment methods drive the growth of the overall online grocery market. These factors are projected to contribute to the growth of consumer products derived from human milk oligosaccharides as an essential ingredient and consequently impact the studied market.

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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, ultrasound-assisted and microwave-assisted extraction, pulsed electric field, radio-frequency drying, high voltage electrical discharge, and supercritical fluids. These emerging technologies are not based on high temperature but on the generation of heat through internal energy transmission (such as resistive and adiabatic with pulsed electric fields and high hydrostatic pressure, respectively) that minimizes deterioration of sensory, nutritional, and functional food ingredients characteristics.

The introduction of technologies such as encapsulation, nanoencapsulation, and bio-encapsulation drives technological innovations in the functional food ingredients industry, which uses HMO as a key ingredient for formulating dietary supplements such as prebiotics and probiotics. These technologies are being rapidly adopted by food ingredient manufacturers to harmonize functional ingredients to formulate better suited and customized food products for consumers to cater to the growing demand.

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Asia Pacific is projected to reach USD 321.8 million during the forecast period.

In 2021, Asia Pacific accounted for a market share of 58.8% in the global HMO market. The Asia Pacific market is completely driven by the country markets of China, India, Japan, Australia & New Zealand and few other Asian countries such as Taiwan, Thailand etc. The regional market of HMO in Asia Pacific  has witnessed technological advancement brought by the key market players, which has increased its usage in various industries. Being a densely populated region, the countries in Asia Pacific such as China, India etc. experience a continuous rise in demand for food and nutrition products. The use of HMO across different industries such as infant formula, functional food and beverages, food supplements in manufacturing a range of infant food, baby food, dietary supplements etc. is anticipated to drive the market during the forecast period. Further developments introduced by the key market players in offering advanced and convenient products to the global consumer is expected to drive the market.

Key Players:

The key players in this market include DSM (Netherlands), BASF SE (Germany), Chr. Hansen Holding A/S (Denmark), DUPONT ( US), and Royal FrieslandCampina N.V. (Netherlands).

Related Reports:

Functional Food Ingredients Market by Type (Probiotics, Prebiotics, Proteins & Amino Acids, Phytochemicals & Plant Extracts, Omega-3 Fatty Acids, Carotenoids, and Fibers & Specialty Carbohydrates), Source, Application, and Region - Global Forecast to 2026

https://www.marketsandmarkets.com/Market-Reports/functional-food-ingredients-market-9242020.html

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 Forecast to 2025

https://www.marketsandmarkets.com/Market-Reports/infantformula-ingredient-market-212823308.html

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