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Top Driving Factors of Probiotics Market | Future Trends, Competitive Landscape, and Forecast to 2027

12-13-2022 02:34 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: MarketsandMarkets

Probiotics Market Revenue by Ingredients, Trends

Probiotics Market Revenue by Ingredients, Trends

The global Probiotics market size was valued at US$ 57.8 billion in 2022 and is projected to reach US$ 85.4 billion by 2027 at a CAGR of 8.1% from 2022 to 2027. Asia Pacific dominated the market in 2022. Some macroeconomic and microeconomic elements that have been prevalent in some important countries have had an impact on the global probiotics market.

https://www.prnewswire.com/news-releases/probiotics-market-worth-85-4-billion-by-2027--exclusive-report-by-marketsandmarkets-301663108.html

In terms of value sales, this would be strong enough to significantly influence the market during the predicted period. The rise in consumer awareness, health consciousness, demand for meat, changing lifestyles, and consumption patterns drive the demand in the probiotics market.

Europe is projected to reach USD 16.4 billion during the forecast period.
According to estimates, Europe is expected to hold a market share of 22% of the worldwide probiotics market in 2022. The awareness and consumption of probiotics products are high in the region. The food & beverages industry is one of the largest and most important manufacturing sectors in Europe. The food market in the region is highly fragmented and consists of a large number of companies, most of which are small to medium-scale. The Europeans are health conscious and scrutinize ingredients on product labels before purchasing them. Most European countries, such as the Netherlands and Spain, have got approval from AESAN for the term probiotics on food and food supplement labels sold in the country. This has resulted in a high level of awareness, paving the way for increased demand for the consumption of probiotic products in the European region. These factors are thus, expected to push the probiotics market in the region to a value of USD 16.4 billion by 2027.

https://rupalimnmwork.medium.com/top-driving-factors-of-probiotics-market-80fcfbbc2c44

By ingredient, yeast is the fastest-growing segment in the probiotics market during the forecast period
As a probiotic, yeast has been actively used in applications such as food, beverages, pharmaceuticals, and industrial enzymes. According to a fermented food market analysis published by Spoonshot in July 2022, there has been a growing interest in fermented food and drinks with potential health benefits over the last few years. Yeast probiotics can reduce or replace the use of antibiotics as growth promoters, thereby reducing the incidence of Salmonella and antibiotic resistance in animals. Therefore, due to the multiple benefits offered by probiotic yeast, their demand is on a rise. The preference for fermented food is also in demand. All these factors together are estimated to have made yeast the fastest-growing segment in the probiotics market during the forecast period.

During the forecast period, the online distribution channel segment is expected to increase at the highest CAGR of 9.2%.
Online shopping has been a very popular marketing and distribution channel in recent years. Although this trend is still at a nascent stage when compared to online clothes shopping, it is expected to gain consumer interest in the coming years owing to its value for the price, consumer comfort, and the Covid-19 pandemic. In developing countries, especially China, India, and Indonesia, online shopping is expected to gain popularity amid the hectic lifestyle, as online shopping saves time. Online grocery is further strengthened by investments from internet giants Alibaba Group Holding Limited (China) and Amazon.com, Inc. (US). Probiotic products such as yogurt, juices, dietary supplements, and bars are expected to be delivered through online channels. While purchasing probiotic products online, consumers also get detailed product information, which gives them first-hand details on strains if they are looking for probiotics with specific health benefits. Online buying is projected to be the future with the increase in urbanization and lifestyle change, thus, making it the fastest-growing distribution channel in the probiotics market during the forecast period.

The key players in this market include Danone(France), ADM (US), Probi (Sweden), and Nestle (Switzerland).

Nestle (Switzerland) has a global presence in over 186 countries and had a revenue of around USD 95.3 billion in 2021. It is a leading global player and one of the top probiotic product manufacturing companies in the world. It offers probiotics through its Nutrition and Health Science business segment. It provides probiotics offerings as functional food and beverages and feed products. In April 2022, the company launched its first infant cereal, based on B.lactis probiotic strain. The product is a blend of whole grain gluten-free oats, pulses, veggies, and fruits, as well as probiotics, to nourish infants' brains and bodies. The product launch will expand Nestle's infant probiotic portfolio. In August 2021, Nestle also acquired US-based, The Bountiful Company. This deal further strengthened Nestle in the nutritional supplements market, including Bountiful's probiotic brands, such as Osteo Bi-Flex.

One of the global nutrition leaders, ADM (US), spans around 190 countries across the world. It offers probiotic solutions through its health and wellness portfolio. Over the years the leading player has acquired significant companies in the probiotics industry such as Probiotics International Limited (UK) and its famous probiotic brand Lepicol. In November 2021, the company acquired US-based probiotic, prebiotic, and enzyme technology leader, Deerland Probiotics & Enzymes. The acquisition has broadened ADM's probiotic portfolio strengthening its position in the probiotics market.

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