5 Key Insights on US$ 20 Bn Opportunity in North America Probiotics Food and Cosmetics Market

Driven by the Increasing popularity of probiotic dietary supplements, and products with proven health benefits, the Probiotics Food and Cosmetics Market in North America is Forecasted to Cross US$20 Bn by 2027 says Ken Research Study.

Probiotics are already well known in the food and supplement world, and using these microorganisms topically for the skin is proving to be an emerging frontier. Foods such as yogurt, buttermilk, cottage cheese, fermented pickles, and others are known for creating natural microbes in the body to boost the health of the immune as well as the digestive system. However, probiotic skin care involves the usage of products containing live microorganisms for the improvement of skin health. The increasing popularity of probiotic dietary supplements during the time of the Covid pandemic is propelling the growth of the market. Furthermore, increased research and development activities by manufacturers with the help of universities on different types of strains is also expected to fuel the growth of the market.

Probiotics have been used in fermented dairy products for centuries. In addition to providing basic nutritional value, probiotics have many health benefits and play an important role in the normal digestive process and maintenance of animal health. The application of probiotics in other industries is gradually increasing.

According to Ken Research estimates, the North America Probiotics Food and Cosmetics Market - which grew from around US$ 10 Bn in 2019 to nearly US$ 11 Bn in 2021 - is expected to grow further into a more than US$ 20 Bn opportunity by 2027.  "Ken Research shares 5 key insights on this high opportunity market from its latest research study"

1.    North America has Witnessed Enhanced Growth in Probiotics Food and Cosmetics Market after the COVID-19 pandemic.

The North America Probiotics Food and Cosmetics Market is expected to witness strong growth during the forecast period, due to the increasing popularity of probiotic products, notably in food and beverages. North America is a huge market for probiotic products as there is a great demand for gut-friendly dietary supplements among young consumers. As compared to other regions, people in the US are more willing to take oral probiotic supplements in any form. According to Food and Drug Administration, there is no requirement for pre-market approval for US manufacturers of probiotic dietary supplements which helps to cater to the increasing demand for these products in the market.

The Covid-19 crisis has brought diverse opportunities in the Probiotics Food and Cosmetic market as it offered numerous benefits that helped people fight the virus in the easiest way. Probiotics were used as supplements that proved to be an effective method for combating the virus. The COVID-19 pandemic has been largely acting as a catalyst for probiotic product demand in the U.S.

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The global pandemic escalated the demand for immunity-boosting food products and supplements among people of every age group. In recent months, the use of probiotics is increasing gradually which can also be noticed in some of the major players in the market.

For instance,

According to a survey by Dupont Nutrition & Biosciences, the consumption of probiotic supplements in the US increased by 66% in mid-2020, and the daily usage also continues to increase. In the 2020 first quarter, DuPont witnessed growth in its Nutrition & Biosciences segment, with the probiotics section observing the strongest growth period.
In April 2020, Probi reported the strongest sales of its probiotic products, observing a clear increase in interest in its immunity products.

2.    The Increasing Consumer Awareness Related to Probiotics is Fuelling the Growth of North America Probiotics Food and Cosmetics Market

The Probiotics Food and Cosmetics Market in North America is expected to witness strong growth of at least 10% CAGR over the next five years, owing to the increasing popularity of probiotic dietary supplements. Dietary supplements include powders, liquids, capsules, tablets, and pills that are considered the most convenient forms of meeting every kind of nutritional need of the body. Probiotic food, as well as cosmetic products, have gained popularity over the past few years as the young population has now become more inclined towards nutritional food as compared to other medicated products. 

The increasing consumer awareness related to probiotics is gradually gaining pace, which is expected to drive investments in R&D for developing new products that contain probiotic ingredients. A national survey in USA conducted by the United Nations Food and Agriculture Organization (FAO) among gastroenterologists and nutritionists in 2018 revealed that more than 97% of the those surveyed were completely or partially in agreement with the use of probiotics to manage symptoms and gastrointestinal diseases. Further the survey also revealed that majority of gastroenterologists and one-third of the nutritionists recommended probiotics use for their patients for the treatment of gastro diseases.

3.  The High Cost of Probiotic Supplements and their Intolerance to Stomach Acid and Bile is the Most Significant Barrier in the growth of Probiotics Food and Cosmetics Market

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Probiotics are sometimes intolerant to stomach bile causing an adverse impact on the digestive system of the body. In rare cases, people with weak immune systems and prolonged diseases may develop an infection from bacteria in probiotic products. This creates a fear in people to consume these products that act as a restraint for the market and thus hamper the growth.

Probiotic strains and products are developed and produced as per international food regulations. It is a new field of study hence, there are sustainable investments in R&D, research laboratories, and equipment. High-quality probiotic supplements are costly because manufacturing and storing costs are very high. The research and manufacturing process of probiotics is expensive and requires specialized equipment. This complexity contributes to the high cost of probiotics. The national survey in USA conducted by the United Nations Food and Agriculture Organization (FAO) among gastroenterologists and nutritionists in 2018 revealed that around a quarter of these professionals feel probiotics are very expensive and hence avoided/hesitated to recommend regularly.

4. Hypermarkets/Supermarkets Segment Dominates the Market with the Largest Revenue Share, and will Maintain Dominance During the Forecast Period.

Among the distribution channel segments, Hypermarkets/Supermarkets remained the dominant segment during the 2017-2021 period contributing the largest market revenue share. Further, the Research Study found that this segment is likely to retain dominance even by 2027. Their dominance is owing to the consumers' preference for the purchase of supplement products due to the convenience of shopping and the availability of multiple brands.

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Furthermore, consumers are also inclined toward the online distribution channel segment for the purchase of probiotics food and cosmetics products. The online segment is also seen to witness a growing share in the future as due to busy schedules and lifestyles, people tend to buy products from online retail stores.

5. Few Diverse Global Players Dominate the Market Holding nearly Half of the Market Revenue Share Despite Presence of the over 150 Competitors.

The North America Probiotics Food and Cosmetics industry is highly fragmented in nature with over 150 participants comprising global players (having presence in 2 or more continents), regional players (having presence in multiple countries within North America), and Country-Niche Players (presence limited to just 1 country or very niche presence in the value chain). Most of Country-Niche's players are involved in developing new strains for the probiotics food and cosmetics industry.

However, the Research study found that few major players, such as Yakult Honsha Co., Ltd, BLIS Technologies, Estée Lauder Inc, and Esse Skincare are forming strategic acquisitions and partnerships for the introduction of new products in the market. In addition, several other players are implementing strategies to strengthen their position in the probiotics market, including Research and Development activities, M&A, geographical expansion, and collaborations.

For more information on the research report, refer to below link:

https://www.kenresearch.com/business-research/north-america-probiotics-food-and-cosmetics-market/

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