The global Human Milk Oligosaccharides 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 Human Milk Oligosaccharides (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 number of infants across the globe, the demand and preference for HMO-based infant formula along with the trend of adopting healthy lifestyle by consuming functional food and beverages has significantly boosted the utilization of HMO in manufacturing.
Impact of COVID-19
The COVID-19 pandemic has created a negative impact on the HMO market. Due to the stringent limitations on movement, the industry faced a severe workforce crisis in manufacturing facilities, research and development units, and logistics. The restricted movement caused a delay in the procurement of raw materials, which impacted the processing and manufacturing of finished products. Many manufacturers witnessed the spoilage and wastage of raw materials, which impacted the production process. There was a severe labor crisis in the distribution channels across the supply chain at each level, which limited the supply of finished products to retail platforms.
End-user manufacturers offering final products consisting of human milk oligosaccharides (infant formula, baby food, and dietary supplements), were able to generate enough profit by rigorous promotion of their products under the umbrella of immunity-boosting nutrition provision. A lot of marketing initiatives, virtual campaigns, workshops, and media advertisements, with more investments in mass production and distribution channels, were adopted by giant players for capturing a large share of the market.
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).
0
0
0
Sign in to leave a comment.