by Probiotic ingredients refer to live microorganisms which provide health benefits when administered in adequate amounts. Probiotic bacteria, including Lactobacillus and Bifidobacterium, are commonly used in probiotic supplements and foods like yogurt. Probiotic supplements help maintain the balance of microorganisms in the gut and support digestive health. They are finding widespread usage in nutraceuticals, dietary supplements, functional foods and clinical nutrition. Probiotics promote normal bowel movements, digestion and nutrient absorption. They aid in producing digestive enzymes and strengthen immunity by competing with harmful microbes in the gut. With growing recognition of gut microbiome’s role in overall health and disease prevention, the demand for probiotic ingredients is increasing globally.
The global Probiotic Ingredients Market is estimated to be valued at US$ 5340.5 Bn in 2023 and is expected to exhibit a CAGR of 4.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends driving growth in the probiotic ingredients market is the shift towards clean label and natural ingredients in food and beverage products. Consumers are increasingly opting for naturally fermented and probiotic enriched products without artificial preservatives, colors or flavors. This has compelled manufacturers to focus on developing clean label probiotic solutions. Industry players are investing in clinical research to strengthen the efficacy claims of probiotic strains. They are exploring new multi-strain probiotic formulations with synergistic blends of bacteria for maximizing benefits. Novel delivery formats including gummies, chewables and melt-away tablets have also gained traction to cater to changing consumer preferences. This focus on innovation and new product development is expected to support the ongoing expansion of the probiotic ingredients market.
Porter’s Analysis
Threat of new entrants: The probiotic ingredients market requires high R&D investment and stringent regulations which act as a barrier for new players.
Bargaining power of suppliers: The suppliers have moderate bargaining power due to availability of alternatives.
Bargaining power of buyers: Buyers have high bargaining power due to availability of substitutes and fragmented nature of the market.
Threat of new substitutes: Substitutes like prebiotics pose low threat currently due to established preferences of probiotics.
Competitive rivalry: The market is dominated by top players and witnessing high competition based on product differentiation.
Key Takeaways
The global Probiotic Ingredients Market Share is expected to witness high growth. North America currently dominates the market due to rising health awareness. Europe is also a major market for probiotic ingredients.
Regional analysis: North America currently dominates the global probiotic ingredients market. This is attributed to rising awareness about gut health and increasing gastrointestinal disorders. Europe is another major market driven by banning of antibiotics as growth promoters in animal feed. Asia Pacific is expected to witness fastest growth due to growing middle class population and their increasing spending on gut health and wellness products.
Key players: Key players operating in the probiotic ingredients market are Kerry Inc., Chr. Hansen Holding AS, Koninklijke DSM NV, DuPont De Nemours, Inc., Lallemand Inc., Associated British Foods PLC, Nutris, Archer Daniels Midland Company, Advanced Enzyme Technologies, and Orffa. These players are focusing on new product launches and acquisitions to strengthen their market position.
