Probiotic Ingredients Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Lactobacillus, Bifidobacterium, and Others) and Application (Functional Food & Beverages, Pharmaceuticals & Nutraceuticals, Animal Feed, and Others)
Publication Month: Jun 2022 |
Report Code: TIPRE00005370
| No. of Pages: 160
| Category: Food and Beverages
| Status: Published
The probiotic ingredients market is expected to grow from 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.
Probiotics are live microorganisms that provide health benefits when consumed, generally by improving or restoring the gut flora. Probiotics are considered generally safe to consume. Probiotics play a significant role in preventive healthcare as they prevent the occurrence of diseases by strengthening the immune system. Thus, rising awareness regarding preventive healthcare is expected to boost the market growth over the forecast period.
Asia Pacific held the largest probiotic ingredients market share in 2021, while other developing regions, such as the Middle East & Africa, are expected to grow significantly in the forecast period. The market growth is attributed to increasing demand for functional foods and beverages such as drinkable probiotic yogurt and plain yogurt and the growing influence of western culture on the young population in the region. 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) operate actively in the region; this is projected to drive the Asia Pacific probiotic ingredients market over the coming years.
Strategic Insights
Report Coverage - Probiotic Ingredients Market
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. of Tables
58
No. of Charts & Figures
71
Historical data available
Yes
Segments covered
Type, and Application
Regional scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country scope
US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina
Report coverage
Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Free Sample Copy Available
Impact of COVID-19 Pandemic on Probiotic Ingredients Market
The COVID-19 pandemic brought unprecedented challenges for many sectors in early 2020. Lockdowns, border restrictions, travel bans, manufacturing discontinuation, and other safety measures rolled out by governments as per the guidelines of the WHO and national health ministries hampered the manufacturing operations. However, the COVID-19 outbreak positively impacted the market as consumers are increasingly seeking natural and safer alternatives to keep themselves healthy and strengthen their immune systems. The demand for dietary supplements increased dramatically during the initial months of the pandemic. Moreover, as people stayed at home due to the government mandates, they focused on their health and fitness, which stimulated the demand for probiotics during the pandemic.
Probiotic Ingredients Market Breakdown – by Region
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Market Insights
Rising Demand for Probiotic-Fortified Food and Beverages
Consumers are becoming more health-conscious and paying more attention to their lifestyles and diets, resulting in a boom in demand for probiotic-fortified foods and beverages worldwide. To suit consumer demand, food manufacturers are developing 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, it’s the world’s largest probiotic dairy brand found in Asia Pacific, Europe, and North Americas, which is driving the growth of market.
Type-Based Insights
Based on type, the probiotic ingredients market is segmented into Lactobacillus, Bifidobacterium, and Others. The Lactobacillus segment is projected to register the largest share during the forecast period. It is considered one of the safest bacteria to be 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 probiotics in food, especially dairy products, fueling the growth of the market.
Probiotic Ingredients Market, by Type – 2021 and 2028
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Application-Based Insights
Based on application, the probiotic ingredients market is segmented into functional food & beverages, pharmaceuticals & nutraceuticals, animal feed, and others. The pharmaceuticals & nutraceuticals segment is projected to register the highest CAGR in the market during the forecast period. The rising demand for preventive medicines, a growing number of digestive ailments among the elderly, and the lack of a balanced diet are likely to increase product demand in the dietary supplement industry. Consumers increasingly prefer probiotic-based food supplements owing to the growing adoption of unhealthy diets.
The key 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 engaged in developing products with reduced health risks to meet emerging consumer trends and abide by regulatory frameworks. They are involved in mergers and acquisitions, business expansions, and partnerships to expand their market share.
Report Spotlights
Progressive industry trends in the probiotic ingredients market to help players develop effective long-term strategies
Business growth strategies adopted to secure growth in developed and developing markets
Quantitative analysis of the probiotic ingredients market from 2022 to 2028
Estimation of global demand for probiotics
Porter's Five Forces analysis to illustrate the efficacy of buyers and suppliers operating in the industry
Recent developments to understand the competitive market scenario
Market trends and outlook, and factors governing the growth of the probiotic ingredients market
Assistance in the decision-making process by highlighting market strategies that underpin commercial interest, leading to the market growth
Size of the probiotic ingredients market at various nodes
Detailed overview and segmentation of the market and the probiotics industry dynamics
Size of the growth in various regions with promising growth opportunities
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 region’s 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.
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.
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.
The major players operating in the global 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.
Based on the application, pharmaceuticals and nutraceuticals segment is projected to grow at the fastest CAGR over the forecast period. Probiotic ingredients have demonstrated their high potential to treat various diseases, including neurodegenerative disorders, cancers, cardiovascular diseases, and inflammatory diseases. Probiotic ingredients are also effective against multidrug-resistant pathogens and help maintain a balanced gut microbiota ecosystem. The rising demand for preventive medicines, an increased number of digestive ailments among the elderly, and a lack of a balanced diet are likely to boost the product demand in the dietary supplement industry. Consumers increasingly prefer probiotics-based food supplements owing to the growing adoption of unhealthy diets. Moreover, the rising consumption of dietary supplements is boosting the demand for probiotic ingredients in the nutraceuticals industry.
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.
The List of Companies - Probiotic Ingredients Market
ADM
Novozymes A/S
Chr. Hansen Holding A/S
Kerry Group Plc.
Lallemand Inc.
IFF Nutrition & Bisosciences
AngelYeast Co., Ltd.
Probiotical S.p.A.
Adisseo
Probi
Highlights key business priorities in order to assist companies to realign their business strategies.
The key findings and recommendations highlight crucial progressive industry trends in the global probiotics market, thereby allowing players to develop effective long-term strategies.
Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
Scrutinize in-depth the market trends and outlook coupled with the factors driving the market, as well as those hindering it.
Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation, and industry verticals.
Sample PDF showcases the content structure and the nature of the information included in the report which presents a qualitative and quantitative analysis.