Probiotics Market: Drivers, Restraints, Opportunities, and Threats 2018-2028
Healthy eating is a popular trend among consumers these days, however, constantly changing lifestyles and busy as well as long working schedules is leading to an increase in unhealthy eating habits among consumers, especially in developed and developing countries. Thus, there is a rise in health issues related to the digestive tract, for instance, inflammatory bowel diseases.
With rising awareness, the demand for functional food and dietary supplements that help cover nutritional requirements as well as provide additional health benefits is on the rise. Researchers have shown that the interaction between particular cells and nutrients inside the body can promote health and help prevent certain diseases. The increasing awareness about the role of good microbes and gut microflora as well as its function for better health is driving the attention of consumers towards the consumption of probiotics, a key functional food.
Probiotics are beneficial microbes, which, when consumed in appropriate quantities, provide health benefits to consumers. Probiotics provide several health benefits, especially for the digestive tract, and are consumed in the form of supplements as well as added to various food products. Probiotics are consumed by humans as a part of their daily diet since ancient times.
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Yogurt and related products, as well as fermented products and traditional foods such as kimchi, kefir, kombucha & sauerkraut, are some of the most common products that naturally contain probiotics and are consumed across the globe. There has been a rapid increase in the demand for probiotics owing to growing health concerns, especially among the working population from developed as well as developing countries. The probiotics market is expected to grow rapidly during the forecast period.
Growing Demand for Probiotics due to their Numerous Benefits and Multiple Applications in the Food and Beverages Industry
There is constant growth in the demand for functional foods and dietary supplements for their nutritional as well as health benefits. Rapidly growing health concerns among majority of the population and increasing awareness among people about the benefits of good microbes & gut health are among the major drivers of the probiotics market. The busy & sedentary working schedule of majority of the population, as well as unhealthy eating habits, which are leading to increased digestive & other health-related issues, and increased disposable income are among the secondary factors driving the probiotics market.
Probiotics provide multiple health benefits to humans, which include balancing the gut microflora, treatment of diarrhoea, especially antibiotic-associated diarrhoea, improving mental health, improving the condition of the heart, reduction in the severity of allergies, the treatment & prevention of certain digestive disorders, boosting the immune system and reducing obesity & belly fat. These health benefits are boosting the popularity of probiotics among consumers.
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Certain types of probiotics provide certain types of health benefits, owing to which consumers are opting for customised probiotic products to meet specific requirements. Various food and beverages are fortified with probiotics, and these products are gaining popularity among consumers. Various dairy, baby food products, ice creams, snacks and desserts with added probiotics are currently trending products in the market.
Probiotics are mostly consumed in the form of dietary supplements and are available in various forms, which include powder, liquids, tablets, capsules or chewables. The usage of probiotics in animal feed has proven to be beneficial in terms of the quality and quantity of produce as well as animal health. Thus, with the increasing usage of probiotics in food and beverages as well as supplements for humans and animals, the probiotics market is expected to increase in terms of value as well as volume during the forecast period.
Global Probiotics Market Key Players
The global probiotics market is growing significantly and becoming increasingly competitive. Some of the major players in this market are Yakult Pharmaceuticals, BioGaia AB, Nestle, SymbioPharm GmbH, Probiotics International Limited, Pfizer Inc., Chr.Hansen Holding A/S, PharmaCare Laboratories, Lallemand Inc., Probi AB, etc. Several companies from the F&B sector are taking interest in investing and entering in the global probiotics market.
Opportunities for Market Players
The food and beverages segment of the global probiotics market is growing rapidly due to the high consumption of food and beverage products. Manufacturing companies are investing in R&D to develop and launch new products as well as increase their presence in the probiotic market. Chocolate, juices, bakery and confectionary are among the trending categories of probiotic products.
Companies are launching products such as probiotic juice and chocolate bars. Chocolate has been proved to be a good carrier for probiotics, which has created lucrative opportunities for manufacturers to develop various probiotic-fortified chocolate products. Moreover, increasing awareness about the benefits of probiotics and launching products in untapped markets is also boosting the probiotics market.
Global Probiotics Market: Regional Outlook
North America and Europe currently dominate the probiotics market with increased demand from health-conscious people and favourable government policies. The Asia Pacific probiotics market is expected to witness rapid growth during the forecast period due to an increase in awareness among people, coupled with increased disposable income, which has boosted the demand for probiotics, especially in India, China, Japan as well as Australia & New Zealand.
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The research report presents a comprehensive assessment of the market, and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geography, rail track, and material type.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators, and governing factors, along with market attractiveness as per segment. The report also maps the qualitative impact of various market factors on market segments and geographies.
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