Burlingame, June 22, 2023 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, global Probiotic Ingredients market is estimated to be valued at US$ 4.96 billion in 2022 and is expected to exhibit a CAGR of 3.9% during the forecast period (2023-2030).
Analysts’ Views on Global Probiotic Ingredients Market
Probiotic ingredients market is anticipated to witness a strong growth in the coming years due to growing demand for the products as supplements to improve digestion and boost immunity. Moreover, rising awareness regarding preventive health care is another key factor expected to augment the market growth. Furthermore, growing demand from food and beverage industry where these ingredients are used in the preparation of food and beverages to enhance the texture, flavor, and nutritional value is again surging the market growth.
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Key Trends and Analysis of the Global Probiotic Ingredients Market:
Probiotic ingredients are witnessing popularity across developing countries owing to growing health awareness among the consumers. Probiotic ingredients are important component for gut health and can support in preventing diseases such as respiratory infections, bacterial vaginosis, and urinary tract infections. Additionally, probiotics can be effective in treating other medical conditions such as inflammatory bowel disease, gastrointestinal problems, and irritable bowel syndrome. Moreover, growing demand for bread, cheese, and other food products is further projected to propel market growth.
Global Probiotic Ingredients Market – Drivers
Growing importance of preventive healthcare products to augment market growth
Increasing prevalence of digestive disorder is creating demand for probiotic ingredients market. According to the International Foundation for Functional Gastrointestinal Disorders, about 5 to 10 percent of people experience irritable bowel syndrome (IBS), and of that percentage, up to 45 million people with IBS live in the United States.
Probiotic Ingredients Market Report Coverage
| Report Coverage | Details | |||
| Base Year: | 2021 | Market Size in 2021: | US$ 4.96 Bn | |
| Historical Data for: | 2017 to 2020 | Forecast Period: | 2022 to 2030 | |
| Forecast Period 2022 to 2030 CAGR: | 3.9% | 2030 Value Projection: | US$ 6.76 Bn | |
| Geographies covered: |
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| Segments covered: |
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| Companies covered: | Kerry Inc., Chr. Hansen Holding AS, Koninklijke DSM NV, DuPont De Neumors, Inc., Lallemand Inc., Associated British Foods PLC, Nutris, Archer Daniels Midland Company, Advanced Enzyme Technologies, and Orffa | |||
| Growth Drivers: |
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| Restraints & Challenges: |
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Booming food and beverage industry is projected to uplift market growth
The expanding food and beverage industry has fueled demand for probiotic ingredients, which are widely used to prepare functional foods and beverages. Moreover, growing consumer spending on probiotic-infused foods and supplements due to increasing disposable income has also contributed to the market growth. Also, growing demand from animal feed applications is further projected to augment market growth.
Global Probiotic Ingredients Market – Restrain
High cost of the probiotic ingredients is expected to hamper the market growth. The raw material used to manufacture probiotics is very expensive. Additionally, the process is quite complicated and requires a lot of time and energy. Moreover, the distribution of these products includes various steps that increase the overall cost. Thus, high cost of the probiotic ingredients is expected to hinder the market growth.
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Global Probiotic Ingredients Market – Opportunities
Growing launch of new product by key players due to ongoing advancement in the field of probiotic ingreidents is expected to provide significant market growth opportunities in the near future. For instance, in August 2021, Chr. Hansen introduced a line-up of three live probiotics each covering the needs related to a specific life stage of dogs and cats. It includes CHR. HANSEN PET-PROSTART™, CHR. HANSEN PET-PROESSENTIALS™ and CHR. HANSEN PET-PROVITAL products.
Global Probiotic Ingredients Market - Key Developments
In May 2023, IFF has launched a new solutions based on its Howaru probiotic ingredient.
In August 2022, FrieslandCampina has launched Biotis GOS-OP High Purity in the Asian-Pacific region (APAC), with a September launch. Its high leveled Galacto-oligosaccharides (GOS) ingredient aims to fill the market gap and fuel supplement innovation in prebiotics
In May 2023, Gnosis by Lesaffre has expanded its LifeinU L. Rhamnosus GG Range of probiotics with a new specification
In June 2021, Probi and Oriflame signed an agreement for digestive probiotic concept launch within general gut health. The product contains a scientifically proven probiotic strain with documented health effects and is a customer specific formulation, based on Probi’s concept called Probi Digestis®.
Key Market Takeaways:
Global probiotic ingredients market is expected to exhibit a CAGR of 3.9% during the forecast period due to the rising awareness regarding preventive healthcare products among consumers. Additionally, increasing disposable income of consumers coupled with the growing prevalence of digestive related medical condition is further increasing adoption of probiotic ingredients in food and beverages application.
On the basis of Type, Bacteria segment is expected to hold a dominant position owing to the fact that they have greater level of control in manufacturing plant. This factor is creating high demand for bacteria in food and beverage industry.
On the basis of Application, food and beverage segment is expected to hold a dominant position owing to the growing demand for yogurt based food products. Yogurt based food products are healthy for guts and are beneficial for treating digestive health related problems.
On the basis of Region, North America is expected to hold a dominant position over the forecast period owing to the continuous investments by the key players of probiotics in research and development activities to develop novel products. The growth of the regional market is further supported by significant funding from investors in the food and beverage and pharmaceutical sector.
Competitive Landscape:
Key players operating in the global probiotic ingredients market include Kerry Inc., Chr. Hansen Holding AS, Koninklijke DSM NV, DuPont De Neumors, Inc., Lallemand Inc., Associated British Foods PLC, Nutris, Archer Daniels Midland Company, Advanced Enzyme Technologies, and Orffa
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Detailed Segmentation:
Global Probiotic Ingredients Market, By Type
- Bacteria
- Yeast
- Spore Formers
Global Probiotic Ingredients Market, By Application
- Food and Beverage
- Dietary Supplements
- Animal Feed
Global Probiotic Ingredients Market, By Region:
- North America
- By Country:
- U.S.
- Canada
- By Country:
- Latin America
- By Country:
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- By Country:
- Europe
- By Country:
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Rest of Europe
- By Country:
- Asia Pacific
- By Country
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- By Country
- Middle East
- By Country:
- GCC Countries
- Israel
- Rest of Middle East
- By Country:
- Africa
- By Country/Region:
- South Africa
- Central Africa
- North Africa
- By Country/Region:
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