Probiotic Ingredients Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Probiotic Ingredients Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The global probiotic ingredients market was valued at USD 4,053.77 million in 2020, and it is projected to register a CAGR of 3.58% during the period of 2021-2026.

With the impact of COVID-19, the market has witnessed a surge in demand for products that enhance immune health, which is likely to boost the application of probiotic ingredients and impact the market positively. Owing to such factors, there have been significant product launches to cater to the growing demand.

COVID-19 is known to affect humans as well as some human microbiome bacterial species simultaneously, acting as a bacteriophage. All major COVID-19 treatment regimens include medicines with antibacterial properties. Antibacterial effect of the used drugs ensures elimination or suppression of BB animalis ssp.lactis colonies in the human host organism, and also offers potential for probiotic use.

Easy availability of information pertaining to preventive healthcare on the internet is contributing favorably to the rising awareness of probiotic products, in turn, driving the market of probiotic ingredients.

The versatility of the culture in terms of application offers opportunities for research and innovation for players. The manufacturers are expanding their product portfolio by launching cultures in easily incorporable forms. Partnerships between the ingredient companies and the consumer-focused probiotic manufacturers is helping launch new products in the consumer world.

However, due to stringent regulations relating to the use of probiotics in infant formula, nutraceuticals, and dietary supplements, the market is expected to witness growth being restricted to a certain extent.

Key Market TrendsHigher and Diverse Application in Nutraceuticals

The demand for probiotic ingredients is primarily driven by increasing application in nutraceuticals, such as fortified food and beverage products, and dietary supplements.

As per data by Packaged Facts, the consumption of probiotic dietary supplements was the highest among the age group of 18-34 years, highlighting their changing mindset toward staying fit and healthy. It can also be concluded that young Americans do not want to suffer at an old age, unlike their elders.

Therefore, they are taking preventive measures to avoid health complications from their earlier years. Therefore, the producers of probiotic supplements are capitalizing on the application, formulation, and therapeutic expansion to other health benefits, apart from the mainstream, to regulate sales. This, in turn, is increasing the application of probiotics in food and beverage products.

Increasing Application of Probiotic Ingredients in South America

The South American market has witnessed significant growth, due to the increasing demand for health and wellness products, coupled with the rise in awareness among consumers for functional food and beverages.

Additionally, Brazilians give emphasis on a better digestive system, which encourages them to buy dietary supplements. Due to this, manufacturers are expanding their presence in the country to cater to the growing demand and achieve a competitive advantage in the market. For instance, Probi, a global probiotic solution company, signed a distribution agreement with Laboratório Daudt (a Brazilian pharmaceutical company). Under the agreement, Daudt agreed to launch the probiotic supplement, Probi Mage, in the Brazilian market.

Competitive Landscape

The market is competitive with the presence of numerous local and international players competing for a major market share. Kerry Inc., Chr. Hansen Holding AS, Koninklijke DSM NV, and DuPont are some major players operating in the market studied that hold dominant positions in the market, closely followed by Advanced Enzyme Technologies and Lantmannen, among others. ​​

The key market players have vast product lines and a geographical reach that give them an edge over their competitors. However, many small- and medium-sized local players also hold a significant position in the market. The level of demand for these probiotic ingredients to be applied in food and beverage and animal feed products has led to the rise of small domestic players, who have a higher penetration rate across agrarian economies. As a result, domestic players have a significant level of supplies and concrete sourcing practices, with know-how on regional production capabilities and increasingly spreading their market dominance

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned

Kerry Inc.
Chr. Hansen Holding AS
Koninklijke DSM NV
DuPont de Nemours Inc.
Lallemand Inc.
Associated British Foods plc
Nutris
Deerland Probiotics & Enzymes Inc.
Advanced Enzyme Technologies
Orffa

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