Probiotic Ingredients Market Overview
Probiotic Ingredients Market Size Anticipated to Reach at a USD 10.39 billion by 2032,CAGR of 6.90% By 2023 - 2032
Probiotic ingredients are documented and clinically proven to have beneficial effects on digestive health as well as the immune system. Probiotics are commonly consumed through products such as buttermilk, yoghurt, fermented milk, kefir, soy drinks, kimchi, and many more. The probiotic ingredients market is witnessing heightened demand from the pharmaceutical and food and beverage industries.
The rise in the incidence rate of various digestive and other chronic diseases is a primary factor boosting the growth of the market. Probiotics are capable of promoting good bacteria, aid proper digestion, and lowering bad cholesterol. They also help in stimulating the immune response which neutralizes toxins in the gut. Growing awareness regarding the health benefits aligned with probiotics has led to a surge in the demand for probiotic ingredients. They are being extensively used in various food beverages. Food manufacturers are constantly introducing probiotic drinks and other food products to tap the expanding base of health-conscious consumers. Probiotic ingredients also experience demand from the animal feed industry, where they are used to improve animal health. The prolific growth of the pharmaceutical industry is also a key factor boosting the growth of the market.
Competitive Landscape
BioGaia AB (Sweden), Kerry Group Plc. (Ireland), UAS Laboratories (US), DowDuPont Inc. (US), Probi AB (Sweden), glac Biotech Co., Ltd. (Taiwan), Lallemand Inc. (Canada), Chr. Hansen A/S (Denmark), Biena Snacks (US), and Bifodan A/S (Denmark) are the probiotic ingredients key market players.
Segmentation
The global probiotic ingredients market has been segmented based on form, source, and application.
By form, the probiotic ingredients market has been segmented into dry and liquid. The liquid segment is dominating the market and is anticipated to retain its dominance throughout the forecast period by registering the highest CAGR over the forecast period. The amount of live and active cultures is an important consideration in case of probiotic ingredients and the liquid form contains greater amount of these live and active cultures due to which the segment is leading. Liquid probiotic ingredients find application in the production of buttermilk and yogurt.
By source, the probiotic ingredients market has been segmented into bacteria and yeast. The bacteria segment is leading the global market on account of the presence of higher number of probiotic strains in bacteria. Moreover, availability of bacteria in abundance and offer greater benefits than yeast.
By application, the global probiotic ingredients market has been segmented into functional food, functional beverages, pharmaceuticals, and others. The pharmaceutical segment is leading the global market. Probiotic ingredients are extensively used in various pharmaceutical products. The functional food beverages segment is expected to be the fastest-growing segment over the forecast period.
Regional Analysis
Region-wise, the probiotic ingredients market has been segmented into North America, Rest-of-the-World (RoW), Europe, and Asia Pacific (APAC).
APAC is dominating the global probiotic ingredients market. The growth of the market can be attributed to the presence of various pharmaceutical companies in the region, who are actively involved in the production of probiotic drugs. Additionally, the occurrence of various chronic diseases in the region such as Eczema and other digestive disorders is boosting the growth of the market. Rise in disposable income and rise in awareness regarding the consumption of the product are also crucial growth determinants.
In Europe, the increasing usage of probiotic ingredients in animal feed and other pharmaceutical products is driving the growth of the probiotic ingredients market.
North America is anticipated to be the fastest growing probiotic ingredients market. Surging prevalence of various chronic diseases in the region has considerably increased the demand for probiotic ingredients.
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