by Next generation probiotics refer to live microorganisms that confer health benefits on the host beyond basic nutrition. These probiotics are being developed and used in several health products including nutraceuticals, infant formula, dairy products, and pharmaceuticals. They mainly include probiotic strains of Lactobacillus, Bifidobacterium, and others. These probiotics help maintain and restore the balance of gut microbiota and modulate gut-associated immune responses. They are being increasingly added in dietary supplements and functional foods due to their properties to fight against gastrointestinal and respiratory diseases.
The global next generation probiotics market is estimated to be valued at US$ 4.13 billion in 2023 and is expected to exhibit a CAGR of 4.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
Growing Demand for Health Supplements: The growing health consciousness among people has increased the demand for health supplements, nutraceuticals, functional foods and beverages globally. Next generation probiotics are being preferred to maintain gastrointestinal health and modulate gut microbiota. This increasing demand for health and wellness products is expected to boost the next generation probiotics market over the forecast period.
Rising Incidence of Gastrointestinal and Respiratory Diseases: There is a notable rise in gastrointestinal disorders like irritable bowel syndrome, inflammatory bowel disease, and respiratory diseases at a global level. Next generation probiotic strains help combat these issues and support the immunity. This growing prevalence of chronic diseases will promote the adoption of probiotic supplements over the coming years.
Segment Analysis
The global next generation probiotics market is dominated by the food and beverage sub-segment. This sub-segment accounts for more than 60% share of the overall market owing to the increasing demand for functional foods and beverages enriched with probiotics. The food and beverage sub-segment is further divided into dairy products, non-dairy beverages, functional foods, and other food and beverage categories such as biscuits, snacks, etc. Dairy products hold the largest share within this sub-segment due to the natural occurrence of probiotics in yogurts and other fermented dairy foods.
PEST Analysis
Political: The increasing government initiatives to spread awareness regarding gut and digestive health through various programs positively impacts the growth of the next generation probiotics market.
Economic: Rising disposable incomes and growing health expenditure provide ample growth opportunities for next generation probiotic supplements, food, and beverages.
Social: Changing lifestyles, busy schedules, and increasing stress levels have raised awareness regarding digestive health and the role of probiotics in maintaining gut microbiota balance. This drives the demand for next generation probiotic products.
Technological: Advanced technologies for developing novel delivery systems, ingredients, and strains with enhanced functionality are allowing manufacturers to offer innovative probiotic formulations with documented health benefits. This is driving the next generation probiotics market growth.
Key Takeaways
The Global Next Generation Probiotics Market Size is estimated to be valued at US$ 4.13 billion in 2023 and is expected to exhibit a CAGR of 4.2% over the forecast period 2023 to 2030.
Regional analysis: North America dominates the global market and is expected to maintain its leading position during the forecast period owing to growing health consciousness. Europe holds the second largest share and Asia Pacific is anticipated to witness the fastest growth rate during the forecast period led by countries like China, India, Japan, etc.
Key players: Key players operating in the next generation probiotics market are BioGaia AB, Probi AB, Danone SA, Yakult Honsha Co., Ltd., Nestle S.A., others. Probi and BioGaia are the leading players accounting for over 35% market share owing to their innovative product offerings and strong distribution networks globally.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
