Probiotic Ingredients Market Growth | Size & Share Worth US$ 6,060.51Mn, Globally, by 2028 at 8.2% CAGR – Industry Trends, Demand, Price, Analysis…

The Insight Partners

According to a market research study published by The Insight Partners, the demand analysis of Probiotic Ingredients Market size & share revenue was valued at US$ 3,493.42 million in 2021 to US$ 6,060.51 million by 2028; it is expected to grow at a CAGR of 8.2% from 2022 to 2028.

New York, June 17, 2022 (GLOBE NEWSWIRE) -- The Insight Partners published the latest research study on Probiotic Ingredients Market Forecast to 2028 COVID-19 Impact and Global Analysis by Type (Lactobacillus, Bifidobacterium, and Others), Application (Functional Food & Beverages, Pharmaceuticals & Nutraceuticals, Animal Feed, and Others), and Geography. Peoples hectic work schedules and extended working hours have resulted in negligence toward their daily diet, health, and fitness; leading to various health issues such as obesity, diabetes, and digestive problems. Therefore, people are increasingly focusing on preventive health and preferring probiotic-infused dietary supplements that offer enhanced health benefits without harmful effects. Due to these factors, the probiotic ingredients market growth is expected to propel in the coming years.

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Report Coverage

Details

Market Size Value in

US$ 3,493.42 Million in 2021

Market Size Value by

US$ 6,060.51 Million by 2028

Growth rate

CAGR of 8.2% from 2022 to 2028

Forecast Period

2022-2028

Base Year

2021

No. of Pages

160

No. Tables

58

No. of Charts & Figures

71

Historical data available

Yes

Segments covered

Type, and Application

Regional scope

North America; Europe; Asia Pacific; Latin America; MEA

Country scope

US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Probiotic Ingredients Market: Competitive Landscape and Key Developments

A few leading players operating in the probiotic ingredients market are ADM; Novozymes A/S; Chr. Hansen Holding A/S; Kerry; Lallemand Inc.; IFF Nutrition & Biosciences; AngelYeast Co., Ltd.; Probiotical S.p.A.; Adisseo; and Probi. These players are focused on developing innovative products to meet the changing requirements of consumers.

Story continues

The probiotic ingredients market in Asia Pacific is projected to register the highest CAGR during the forecast period. The awareness regarding health and nutrition has increased significantly. Moreover, the manufacturers of probiotics are expanding their operations across Asia Pacific owing to the presence of a potential customer base, cheap labor, and adequate manufacturing facilities. Companies such as Probi and Bio-k+ (Kerry) are actively operating in the region. This factor is expected to boost the Asia Pacific probiotic ingredients market growth over the coming years.

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Product Launches with Probiotic as a Key ingredient

Manufacturers across various industries are making significant investments in product innovation to attract a large number of consumers. For instance, Jarrow Formula launched probiotic gummy supplements in three variations: probiotic duo gummies, probiotic and prebiotic gummies, and probiotic and immune gummies. They are pectin-based, non-genetically modified organism (GMO), gluten-free, and vegetarian.

Manufacturers are incorporating probiotics in personal care products and investing in their research and development activities to address consumers needs. For instance, in May 2021, Probi AB and Competence Centre on Health Technologies have inked a long-term R&D collaboration agreement (CCHT). It aims to create new products for women's health based on probiotic lactobacilli strains. Such product innovations help companies extend their reach in domestic markets and gain a competitive edge in international markets.

Probiotic Ingredients Market: Segmental Overview

Based on type, the probiotic ingredients market is segmented into Lactobacillus, Bifidobacterium, and others. The Lactobacillus segment accounted for the largest market share in 2021. Lactobacillus species are probiotics present in the digestive and urinary systems of humans. They can be used to treat diarrhea and improve gut health. Lactobacillus is a preferred probiotic species by the end use industries. Dietary supplements are one of the significant applications for this bacteria. Thus, manufacturers are incorporating this strain of bacteria into their products. For instance, FloraFIT probiotics by DuPont is trusted by many of the worlds leading manufacturers of dietary and nutritional supplements.

Based on application, the probiotic ingredients market is segmented into functional food & beverages, pharmaceuticals & nutraceuticals, animal feed, and others. The functional food & beverages segment accounted for the largest share in 2021. The demand for probiotic-infused food and beverages has also increased significantly in recent years due to the rising number of health-conscious people and the growing prevalence of digestive health problems. With increasing consumer demand, manufacturers are introducing probiotic-infused muffins, nutritive bars, beverages, gummies, and yogurt in the market, which helps improve gut health. Digestive wellness is a significant driving factor owing to the rising demand for low-carbohydrate, high-protein, and paleo diets.

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Probiotics are bacteria and yeast that help humans and animals maintain a healthy microbial balance in their intestines. Probiotics are bacteria that promote the body's digestive juices and enzymes, ensuring appropriate digestion. They can be consumed orally or as a supplement. Probiotics also protect good bacteria from potentially dangerous bacteria. Probiotics are currently being utilized to identify and treat mental issues and digestive and neurological disorders. They also protect proteins and lipids from oxidative damage and eliminate infections in the body.

Based on geography, the probiotic ingredients market is primarily segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America (SAM). Asia Pacific accounted for the largest share of the market. The Asia Pacific probiotics industry is rapidly advancing with the rising consumption of pharmaceuticals and nutraceuticals. In Asia Pacific, vitamins and dietary supplements demand increased during the COVID-19 pandemic. For example, people have been focusing on their health since the emergence of the pandemic, and consumers are seeking out immunity-boosting products such as vitamin C or ginseng. These factors are expected to boost the growth of the probiotic ingredients market in the region during the forecast period.

Consumers are becoming more health-conscious and focusing on their lifestyles and diets, resulting in a boom in demand for probiotic-fortified foods and beverages worldwide. To fulfill consumer demand, food manufacturers aredeveloping various new products with instructions and pictures in response to the current healthy eating trend. For instance, Yakult Honsha, a Japanese company, launched a probiotic dairy drink in 1955, which was dismissed by several industry experts; however, currently, its the worlds largest probiotic dairy brand found in Asia Pacific, Europe, and North Americas.

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Manufacturers are deploying food and beverage fortification by adding nutritional additives, such as probiotics, fibers, vitamins, and minerals, to their product offerings. The major motive for incorporating additives in the food & beverages industry is to increase the health benefits of food products. Promising health benefits of probiotic-fortified food and participation of international bodies in the R&D approvals of probiotics are a few of the major factors influencing the global probiotic ingredients market. Functional ingredients such as probiotics are highly used in yogurt to improve the quality of intestinal microflora. Such a trend is expected to fuel the market over the forecast years.

Probiotic-fortified food includes yogurt, bars, snacks, and infant formula. Probiotic drinks are a type of functional beverage that can help improve gut health by balancing the intestine, thereby raising immunity. For instance, Meluka Australia, a subsidiary of ASX-listed Eve Investment, launched Meluka honey and probiotic tonic, a new product, in April 2020, claiming to be the first of its kind in the market. Thus, such innovation and new product launches increase the demand for probiotic-infused functional food and beverages.

Based on type, Lactobacillus segment have largest revenue because, Lactobacillus species are probiotics present in the digestive and urinary systems of humans, and they can be used to treat diarrhea and improve gut health. Lactobacillus is a type of good bacteria that helps the body break down food, absorb nutrients, and fight off disease-causing bacteria. It is considered one of the safest bacteria used as probiotics. Lactobacillus is a type of bacteria that primarily finds application in fermented foods such as kefir, sauerkraut, and yogurt. Lactobacillus strains are helpful to people because they can reduce human intestinal disorders, which is expected to boost its demand. The growth of the lactobacillus segment is driven by the rising application of probiotic ingredients in food, such as dairy products.

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Declining use of anti-biotics in animal feed anticipated lucrative opportunities for the growth of probiotics market. Also, there is shift in consumers demand for safe food production. The use of probiotic ingredients as a possible alternative to antibiotics has received renewed interest due to the legislation prohibiting the use of sub-therapeutic amounts of antibiotics. Growing knowledge of the benefits of probiotics for animal health among pet owners, cattle farmers, and hobbyists is a huge opportunity for probiotics manufacturing companies. Also, development strategies by the key players are projected to open lucrative opportunities in the probiotic ingredients market over the forecast period.

Asia Pacific accounted for the largest share of the global probiotic ingredients market. The market growth is attributed to increasing demand for functional food and beverages, especially drinkable probiotic yogurt and plain yogurt, coupled with the growing influence of western culture on the young population in the region. The regions probiotics industry is rapidly advancing with the rising consumption of pharmaceuticals and nutraceuticals. In Asia Pacific, the demand for vitamins and dietary supplements increased during the COVID 19.

For example people have been looking after their health since the COVID 19 and seek immunity-boosting products such as vitamin C or ginseng. Moreover, the manufacturers of probiotic ingredients are expanding their operations across Asia Pacific owing to the presence of a potential customer base, cheap labor, and adequate manufacturing facilities. Companies such as Probi and Bio-k+ (Kerry) operate actively in the region; this is projected to drive the Asia Pacific probiotic ingredients market over the coming years.

The increasing consumer focus in preventive health driving global probiotic ingredients market. Over the past few years, the awareness regarding health and nutrition has increased significantly. Because of hectic work schedules and extended working hours, people cannot concentrate on their daily diet, health, and fitness, thereby leading to various health issues such as obesity, diabetes, and digestive problems. Therefore, people increasingly focus on preventive health and prefer dietary supplements that offer enhanced health benefits without harmful effects. Thus, people are getting more aware of digestive health and prefer to consume probiotics. These dietary supplements improve digestion and nutrient absorption. Thus, the rising consumers focus on preventive health the demand for probiotic-infused dietary supplements that offer nutritional benefits also increased and is further driving the growth of the probiotic ingredients market.

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Probiotic Ingredients Market Growth | Size & Share Worth US$ 6,060.51Mn, Globally, by 2028 at 8.2% CAGR - Industry Trends, Demand, Price, Analysis...