July 20, 2024

Next Generation Probiotics Market Driven By Increasing Consumer Awareness Towards Preventive Healthcare Measures

NGPs include multiple probiotic strains in a single formulation along with biologically active components like prebiotics, enzymes, polyphenols, and bioactive peptides. They help enhance the survival of probiotic strains in the human gut and provide additional health advantages. NGPs are increasingly being utilized in functional foods and dietary supplements for their properties like immune enhancement, digestion support, and reduction in abdominal discomfort. The global next generation probiotics market is witnessing high demand for products containing multiple bacterial species like Lactobacillus, Bifidobacterium, and Streptococcus thermophilus. These probiotic mixtures make formulation of end products like yogurts, juices, and powders easier by targeting different regions of the gastrointestinal tract simultaneously.

The global Next Generation Probiotics Market is estimated to be valued at US$ 186.93 Mn in 2023 and is expected to exhibit a CAGR of 5.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
One of the major trends witnessed in the next generation probiotics market is the increasing focus of manufacturers on innovative delivery formats like gummies, powders, and capsules. Consumers, especially younger demographics, prefer easy to swallow and chew probiotic supplements over traditional tablets and liquids. This has driven companies to launch products using matrices such as fruit juices, peanut butter, chocolates that enhance palatability while delivering gut health benefits. Another key trend is the development of strain specific probiotic formulations for indication-based treatment and management of gut disorders. Clinical studies show targeted probiotic blends may help treat irritable bowel syndrome, ulcerative colitis, and antibiotic associated diarrhea more effectively than conventional products.

Porter’s Analysis
Threat of new entrants: The threat of new entrants in the next generation probiotics market is moderate owing to established brands, high R&D and manufacturing costs involved.
Bargaining power of buyers: The bargaining power of buyers in the next generation probiotics market is high due to availability of alternatives and large buyer base with high purchasing power.
Bargaining power of suppliers: The bargaining power of suppliers is moderate due to presence of many suppliers and lower switching costs.
Threat of new substitutes: The threat of substitutes is moderate given the functional benefits of probiotics in maintaining gut health over other alternatives.
Competitive rivalry: The competitive rivalry is high among existing players due to their established brands and continuous new product launches.

Key Takeaways
The Global Next Generation Probiotics Market Size is expected to witness high growth over the forecast period 2023 to 2030. The global Next Generation Probiotics Market is estimated to be valued at US$ 186.93 Mn in 2023 and is expected to exhibit a CAGR of 5.9% over the forecast period 2023 to 2030.

Regional analysis: The Asia Pacific region is expected to grow at the fastest rate due to rising awareness about gut and digestive health. Europe currently dominates the market owing to growing healthcare expenditure and probiotic-fortified food products in the region.

Key players operating in the next generation probiotics market are Coty UK, Procter & Gamble Prestige Beaut, L’Oreal, LVMH, Givaudan, International Flavors & Fragrances, Estee Lauder Beautiful, Kilian, and Firmenich. Key players are focusing on new product launches with strain variants and formulations for targeted indications to gain competitive edge.

Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it