Probiotic Ingredients Market Developments and Forecast by 2028

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.

Probiotic Ingredients Market: Strategic Insights

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.

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.

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.

The regional trends and factors influencing the Probiotic Ingredients Market throughout the forecast period have been thoroughly explained by the analysts at The Insight Partners. This section also discusses Probiotic Ingredients Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Probiotic Ingredients Market Report Scope

Probiotic Ingredients Market Players Density: Understanding Its Impact on Business Dynamics

The Probiotic Ingredients Market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

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