Probiotic Ingredients Market Expected To Witness A Substantial Growth Of $3.56 Billion By 2025: Grand View Research Inc.

 

The global probiotic ingredients market size is projected to reach USD 3.56 billion by 2025, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 7.9% over the forecast period. Increasing consumer awareness regarding preventive healthcare has emerged as a key market driver. Probiotics play a great role in preventive healthcare as they prevent the occurrence of a disease by strengthening the immune system of the body.

The demand for nutraceuticals & functional foods is expected to witness an upward surge owing to consumers opting for immunity boosting supplements during the COVID-19 pandemic. Furthermore, a decline in the consumption of poultry, meat and seafood products across the globe is expected to increase the demand for plant and animal-based protein supplements in the near future. The report will account for Covid19 as a key market contributor.

Another significant factor bolstering the product demand across the globe is the increasing investments by key market players in R&D activities with respect to the development of efficient probiotic strains. There have been advancements in the delivery systems used for delivering probiotics in the human body. Efficient strains have been developed that work in compatibility with these delivery systems. This allows a high number of probiotics to reach the body parts such as the intestines, thus increasing their effectiveness.

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Companies have developed and identified proprietary strains for specific applications. These strains meet different requirements possessed by different medical conditions. Lactobacillus fermentum VRI-003 PCC and Lactobacillus rhamnosus HN001 are used to cure Eczema. Lactobacillus acidophilus NCFM and Bifidobacterium animalis lactis Bi-07 strains are used to cure cold. Lactobacillus acidophilus, Lactobacillus reuteri RC-14, and Lactobacillus rhamnosus GR-1 are effective for treating vaginal infection.

Further key findings from the report suggest:

·         In terms of ingredient, bacteria emerged as the largest segment with a revenue of USD 1.74 billion in 2018. The segment is expected to continue its dominance over the forecast period

·         In terms of application, probiotic dietary supplements segment is anticipated to expand at the fastest CAGR of 8.2% over the forecast period, attributable to the increasing demand for these supplements from various industries including pharmaceutical, nutraceutical, and functional supplements

·         In terms of end use, human probiotics segment is expected to lead the market over the forecast period, with animal probiotics segment at a distant second. Advancement in oral probiotic market has contributed to the growth of the human probiotics segment

·         Asia Pacific is anticipated to witness the fastest CAGR of 8.4% over the forecast period. Led by countries such as India, China, and Japan, the Asia Pacific probiotic ingredients market is driven by the increasing adoption of the product predominantly in infant formula

·         The market is highly competitive with a sizable number of domestic and international players sharing the market space. Product innovation and mergers and acquisitions are among the key strategies deployed by prominent players to withstand competition

·         The key market participants are Ganeden, Inc.; Probiotical S.p.A.; Biocodex, Inc.; Sabinsa Corporation; BioGaia AB; Chr. Hansen Holding A/S; and Lallemand, Inc. among others

Europe emerged as the largest probiotic ingredients market in 2018, with a revenue of USD 742.2 million. Rising awareness concerning gut and immune health, prevalence of gut-related diseases, and the presence of geriatric population are some of the key factors contributing significantly to the regional market growth. Increasing consumption of animal probiotic ingredients is anticipated to further fuel the regional expansion. Increasing focus on mortality reduction and growth of animals coupled with the need for feed conversion efficiency is expected to trigger the regional demand.

The market participants have been engaging in mergers and acquisitions in a bid to increase their market share. For instance, in December 2017, Royal DSM, a science-based company headquartered in Netherlands announced the acquisition of Biocare Copenhagen A/S, a Denmark-based food supplements manufacturing and supplying company. The acquisition was intended to expand the former’s product offerings of probiotic gut health ingredients.

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Grand View Research has segmented the global probiotic ingredients market on the basis of ingredient, application, end use, form:

Probiotic Ingredient Outlook (Revenue, USD Million, 2014 - 2025)

·         Bacteria

o    Lactobacilli

o    Bifidobacterum

o    Streptococcus

o    Other Genus

·         Yeast

·         Spore Formers

Probiotic Ingredients Application Outlook (Revenue, USD Million, 2014 - 2025)

·         Probiotic Food & Beverages

·         Probiotic Dietary Supplements

·         Animal Feed Probiotic

Probiotic Ingredients End Use Outlook (Revenue, USD Million, 2014 - 2025)

·         Human Probiotics

·         Animal Probiotics

Probiotic Ingredients Form Outlook (Revenue, USD Million, 2014 - 2025)

·         Dry Form

·         Liquid Form

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

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