Probiotic Ingredients Market to 2028 by Growth and Opportunity

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)

  • Report Code : TIPRE00005370
  • Category : Food and Beverages
  • Status : Published
  • No. of Pages : 160
Buy Now

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.

Customize Research To Suit Your Requirement

We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.

Probiotic Ingredients Market: Strategic Insights

Probiotic Ingredients Market

  • CAGR (2021 - 2028)
    8.2%
  • Market Size 2021
    US$ 3.49 Billion
  • Market Size 2028
    US$ 6.06 Billion

Market Dynamics

GROWTH DRIVERS
  • XXXXXXX
  • XXXXXXX
  • XXXXXXX
FUTURE TRENDS
  • XXXXXXX
  • XXXXXXX
  • XXXXXXX
OPPORTUNITIES
  • XXXXXXX
  • XXXXXXX
  • XXXXXXX

Key Players

  • 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

Regional Overview

  • North America
  • Europe
  • Asia-Pacific
  • South and Central America
  • Middle East and Africa

Market Segmentation

Type
  • Lactobacillus
  • Bifidobacterium
  • Others
Application
  • Functional Food & Beverages
  • Pharmaceuticals & Nutraceuticals
  • Animal Feed
  • Others
  • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.

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

  • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.

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

food-and-beverages
  • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.

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

Probiotic Ingredients Market Report Scope

Report Attribute Details
Market size in 2021 US$ 3.49 Billion
Market Size by 2028 US$ 6.06 Billion
Global CAGR (2021 - 2028) 8.2%
Historical Data 2019-2020
Forecast period 2022-2028
Segments Covered By Type
  • Lactobacillus
  • Bifidobacterium
  • Others
By Application
  • Functional Food & Beverages
  • Pharmaceuticals & Nutraceuticals
  • Animal Feed
  • Others
Regions and Countries Covered North America
  • US
  • Canada
  • Mexico
Europe
  • UK
  • Germany
  • France
  • Russia
  • Italy
  • Rest of Europe
Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
South and Central America
  • Brazil
  • Argentina
  • Rest of South and Central America
Middle East and Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of Middle East and Africa
Market leaders and key company profiles
  • 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
    • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
    Report Coverage
    Report Coverage

    Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

    Segment Covered
    Segment Covered

    Type, and Application

    Regional Scope
    Regional Scope

    North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

    Country Scope
    Country Scope

    Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States

    Frequently Asked Questions


    What is the largest region of the global probiotic ingredients market?

    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 the type, why is the Lactobacillus segment have the largest revenue share?

    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.

    What are the opportunities for probiotic ingredients in the global market?

    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.

    Can you list some of the major players operating in the global probiotic ingredients market?

    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, which segment is projected to grow at the fastest CAGR over the forecast period?

    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.

    What are the key drivers for the growth of the global probiotic ingredients market?

    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

    1. ADM
    2. Novozymes A/S
    3. Chr. Hansen Holding A/S
    4. Kerry Group Plc.
    5. Lallemand Inc.
    6. IFF Nutrition & Bisosciences
    7. AngelYeast Co., Ltd.
    8. Probiotical S.p.A.
    9. Adisseo
    10. Probi

    The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

    1. Data Collection and Secondary Research:

    As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

    Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

    1. Primary Research:

    The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

    For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

    A typical research interview fulfils the following functions:

    • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
    • Validates and strengthens in-house secondary research findings
    • Develops the analysis team’s expertise and market understanding

    Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

    • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
    • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

    Below is the breakup of our primary respondents by company, designation, and region:

    Research Methodology

    Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

    1. Data Analysis:

    Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

    • 3.1 Macro-Economic Factor Analysis:

    We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

    • 3.2 Country Level Data:

    Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

    • 3.3 Company Profile:

    The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

    • 3.4 Developing Base Number:

    Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

    1. Data Triangulation and Final Review:

    The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

    We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

    We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

    Your data will never be shared with third parties, however, we may send you information from time to time about our products that may be of interest to you. By submitting your details, you agree to be contacted by us. You may contact us at any time to opt-out.

    Trends and growth analysis reports related to Probiotic Ingredients Market