Synbiotic Market Size to Grow at a CAGR of 8.45% During the Forecast Period 2020–2025

Synbiotic Market Overview
Synbiotic Market size was valued at $ 725.58M by 2019, and is anticipated to grow at a CAGR of 8.45% during the forecast period 2020-2025. The Synbiotic Market growth rate is attributed to growing understanding of health amongst urban consumers that has led to a rise in the consumption of functional foods and beverages, thereby boosting the synbiotic products and the market as a whole. Synbiotics in the form of synergism are the combinations of prebiotics and probiotics that promote the survival and growth of the bacteria in the gut. These bacteria are predominantly found in the intestine of the human body and in the colon of the gastrointestinal tract. Synbiotics help improve the proper functioning of the stomach, which could not be done by daily diet in an adequate quantity. They play a significant role in osteoporosis prevention, lactose intolerance alleviation and other common conditions. Synbiotics foster a healthy heart and reduce inflammation while reducing the risk of cardiovascular or carcinogenic conditions. These are used for food fortification and can also be found in the form of supplements that often combine prebiotics based on plants with probiotic strains that promote health. Synbiotics, among others, are available in fruit, feed, and pharmaceutical grades.
In addition, they are also used to enhance the absorption of nutrients such as calcium, magnesium, and phosphorus; and to treat hepatic disorders. Furthermore, in aquaculture, they are also used to stimulate the immune system to improve the growth of fish. Synbiotics are also used for medicinal purposes in the pharmaceutical and pet food sectors. Synbiotic products also make it easier for the intestinal environment to operate smoothly. Strains of probiotics, including Bifidobacterium, Lactobacilli, S. from boulardii, B. The most widely used fibers are coagulants and prebiotics, including inulin, FOS, GOS, XOS, and fructans, which are referred to as synbiotics when used along with probiotics and are capable of enhancing the viability of probiotics. Hence, In order to boost nutritional value and provide related health benefits, companies engaged in nutritional supplements and food and beverage processing have increased the fortification of their products with probiotics, prebiotics and synbiotics. However, the high price of synbiotic products can restrict the sales of such products, which, in turn, can hamper the growth of the global synbiotic market in the forecast period 2020-2025.

Key Takeaways
Europe dominated the Synbiotic Market with a share of 35% in the year 2019.
The factors such as growing awareness among consumers towards health and nutritional supplementation and growing demands from the pet food and pharmaceutical industries on account of nutritional benefits are amongst the major factor projected to impel growth of Synbiotic Market.
Technological advancements for the deployment of product in aquaculture, continuous R&D in this industry and strategic initiatives undertaken by major players are the key factors owing to the growth in the segment during forecast period 2020-2025.

By Product Type – Segment Analysis
On the basis of product type, food grade segment held the major share of the market in terms of revenue and is poised to grow with a CAGR of 8.2%. The reason is being attributed to Increasing application of functional food and beverages to enhance immunity, cardio health, and digestive health is expected to open new avenues for synbiotic food and beverages in the coming years. Food manufacturers such as Nestle and Pfizer are partnering with Universities to enhance understanding about how the micro biome affects human health. For instance, in November 2019, Nestlé entered into a partnership with the Center for Micro biome Innovation (CMI) at the University of California San Diego to enhance its understanding of how the micro biome affects human health as well as increase the development of nutritional solutions that promote health and well-being. Apart from this, high consumer awareness, coupled with prevalent marketing, is the major factor driving the demand for synbiotic-based dietary supplements. Moreover, dietary supplements are low in calories, have a longer shelf life as compared to dairy products, and do not require refrigeration. Furthermore, they serve as an excellent alternative for those with lactose intolerance, thereby boosting the demand for synbiotic-based dietary supplements in the coming years.

By Geography – Segment Analysis
Europe dominated the Synbiotic Market with a share of 35% in 2019. The application of Synbiotic has grown rapidly over the last few years owing to increased awareness of synbiotic products, combined with high product exposure, is the key factor that has favored recent demand for synbiotic products and is anticipated to continue over the forecast period 2020-2025. In 2020, the European synbiotic products market gained the largest market share owing to an increased consumption of functional foods containing fortified nutrients. It is also foreseen to be the fastest growing regional market in this business in future owing to growing intestinal problems among consumers are influencing the demand for synbiotic products in the European nations.
At a CAGR of 9.2% over the forecast period 2020-2025, Asia Pacific is projected to grow. Growing eating habits away from home may have an effect on intestinal health, resulting in compromised health. Increased use of probiotics and prebiotics for the treatment of irritable bowel syndrome and ulcerative colitis is poised to drive the regional demand for synbiotic products over the forecast period 2020-2025. Furthermore, increasing consumer awareness of nutritional supplementation is anticipated to play a significant role in driving market in the near future. Rising demand for dietary supplements in China and India is to have a strong effect on the synbiotics market over the coming years owing to increased awareness of the nutritional benefits of functional foods. As diet foods, the use of functional food products is increasing which appear to achieve customer satisfaction when it comes to energy and dietary requirements.

Drivers – Synbiotic Market
Growing demand for probiotics and prebiotics in functional food
With demand for probiotics and prebiotics in functional food and beverage is continuing to increase. Speeding healthy lifestyles among consumers towards nutritional supplements is expected to play a significant role in driving market growth for synbiotics over the coming years. Manufacturers in the nutraceutical and food & beverage industries have enhanced the strengthening of natural ingredients such as probiotics, prebiotics and synbiotics in their product selection to provide nutritional enrichment and related health benefits. For instance, The European Commission lifted quotas for manufacturing dairy products in the region in March 2015. As a result, key players in the dairy industry in Europe are expected to expand their manufacturing capacity and thus are likely to influence market growth in synbiotics over the projected timeframe. In the coming years, technological innovation regarding the application of synbiotics in aquaculture is anticipated to accelerate market penetration.

Challenges – Synbiotic Market
High price of synbiotic food
High manufacturing costs of synbiotics is a major restraint for the growth of the symbiotic market. As the consequences of COVID-19 are felt across the globe, retail products for food & beverage firms face drastically reduced use and supply chain volatility issues. The producers of synbiotics have limited production owing to the shortage of raw materials and lack of labor force. As of now, the market for synbiotic has decreased worldwide owing to disrupted production and supply chain of food and beverage and pharmaceutical products. Owing to COVID-19, detergent and textile markets are fully closed; in addition to the manufacture of pharmaceuticals and the animal feed industries also produce small and important markets that restrict the growth of the global papain market.

Synbiotic Industry Outlook
Product launches, mergers and acquisitions, joint ventures and geographical expansions are key strategies adopted by players in the Synbiotic Market. In 2019, Synbiotic Market share is fragmented by the top ten players present in the market. Synbiotic Market top 10 companies are Sabinsa Coorporation, Groupe Danone, USA Laboratories Inc, Biomin Incorporated, Daflorn MLM5 Limited, Skystone Feed Coperative Limited, Yakult Pharmaceuticals, Chr. Hansen, Behn Mayer & Company Private Limited, Pfizer Pharmaceuticals and others.

Acquisitions/Product Launches
In 2019, Pfizer Inc. and Array BioPharma Inc. have entered into a definitive merger agreement has been signed pursuant to which Pfizer acquires Array, a global biopharmaceutical company focusing on the discovery, production and distribution of targeted small molecular medicines for the treatment of cancer and other highly unmet diseases.
In March 2019, Yakult Korea entered into collaboration with a Dutch life science company, BioActor to develop a dual-purpose functional drink called MPRO3, a synbiotic product that contains probiotics, prebiotics, and flavobiotics, in the Korean Market.