According to a report recently published by Market Research Future (MRFR), the global probiotic ingredients market is expected to attain notable growth during the forecast period between 2022 and 2030.
It is reported that probiotic ingredients are increasingly witnessing growth in the food beverage and pharmaceutical industries owing to the health benefits associated with the product. These ingredients are gaining massive traction and is widely used for a vast-array of dietary supplements. The market is expected to experience notable growth due to the increasing demand for the product for its nutritional value. Market players are laying focus on their research and development activities to come up with new and innovative products comprising probiotic ingredients to cater to the increasing demand for the ingredient. Alongside this, the players are also duly focusing on marking these products highly accessible and visible to the consumers on a global scale.
Market Segmentation
The global Probiotic Ingredients Market Outlook segmented in terms of source, form, region, and application.
By source, the market divides into bacteria and yeast. The bacteria segment is expected to attain the maximum share in the global scenario during the forecast period.
By form, the market segments into dry and liquid form. The liquid form segment is projected to spearhead this market category with the maximum share in the forthcoming years.
By application, the market includes functional beverages, functional food, pharmaceuticals, and others. The pharmaceutical segment is expected to gain the largest share in this market segment.
By region, the market covers the following key regions: North America, Europe, Asia Pacific, and the Rest of the World (RoW). The North American region narrows down into Canada, the US, and Mexico. The European region is broken down into Germany, the UK, Italy, France, Spain, and the Rest of Europe. The Asia Pacific regional segment is divided into India, Australia, China, Japan, New Zealand, and the rest of Asia Pacific. Finally, the Rest of the World region comprises of the Middle East and African region as well as the Latin American region.
Regional Analysis
Geographically, the Asia Pacific regional Probiotic Ingredients Market Insights dominates the global probiotic ingredients market and is expected to maintain the same during the forecast period. The dominance of the Asia Pacific region can be linked with various key factors like the growing awareness regarding its health benefits among the consumers and the existence of several key market players.
In Europe, the global probiotic ingredients market is expected to garner notable growth in the forthcoming years. At present, both North America and Europe hold almost similar share of the global market. The increasing usage of probiotic ingredients in pharmaceuticals and animal feed by manufacturers in Europe is reported to be a major driver to this region. North America, on the other hand, is expected to exhibit the highest CAGR during the forecast period due to the increasing inclination of consumers towards products that are newly launched with probiotic ingredients and increasing awareness of consumers concerning its striking health benefits like the reduction of blood pressure and bad cholesterol from the body. This has manufacturers to take notice and they are constantly trying to meet and exceed the consumer expectations by launching new products that contain high amount of probiotic ingredients.
The Rest of the Word (RoW) regional segment is expected to also experience considerable growth in the forthcoming years due to the surging demand and usage of probiotic ingredients therein.
According to the MRFR reports, the global Probiotic Ingredients Market Size is likely to attain a over USD 9,735.8 Million by the end of 2030 while flourishing at a healthy CAGR of over 6.9% during the forecasted era.
Competitive Landscape
The global probiotic ingredients market comprises numerous key and prominent players, including Lallemand Inc. (Canada), DowDuPont Inc. (US), Kerry Group Plc. (Ireland), glac Biotech Co., Ltd. (Taiwan), Chr. Hansen A/S (Denmark), Bifodan A/S (Denmark), BioGaia AB (Sweden), UAS Laboratories (US), Probi AB (Sweden), and Biena Snacks (US).
18th April, 2019, Symrise announced the launch of a probiotics-based ingredient named SymReboot L19. The product is aimed at providing extra protection to sensitive skin types.
18th April, 2019, Anlit, an Israeli supplement developer, announced the creation of women’s health probiotic chew comprising six strains of live bacteria coupled with the extract of cranberry to aid the genitourinary tract health. NOTE: Our Team of Researchers are Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.
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