July 14, 2024
Probiotic Ingredients Market

Probiotic Ingredients Market: Growing Demand for Health and Wellness Products

The global probiotic ingredients market is estimated to reach a value of US$4.96 Billion In 2021 and is expected to exhibit a CAGR of 3.9% over the forecast period of 2022-2030, according to a new report published by Coherent Market Insights.

Market Overview:

The probiotic ingredients market refers to the ingredients used in the production of probiotics, which are live bacteria and yeasts that are beneficial for human health. These ingredients are used to formulate a wide range of probiotic products, including dietary supplements, functional foods, and beverages. The growing awareness about the health benefits of probiotics, such as improved digestion, immune system support, and enhanced nutrient absorption, is driving the demand for probiotic ingredients in the market. Consumers are increasingly seeking natural and organic products with probiotics to promote their overall health and wellness.

Market Key Trends:

One key trend in the Probiotic Ingredients Market is the rising demand for probiotic-infused beverages. With the increasing popularity of functional beverages and the growing demand for probiotic products, manufacturers are introducing innovative probiotic-infused beverages to cater to consumer preferences. These beverages provide a convenient and refreshing way to incorporate probiotics into daily routines. Additionally, the convenience of on-the-go consumption and the availability of a variety of flavors make probiotic-infused beverages a popular choice among health-conscious consumers. As a result, the demand for probiotic ingredients for beverages is expected to witness significant growth in the coming years.

Porter’s Analysis

Threat of New Entrants: The threat of new entrants in the probiotic ingredients market is low. The market is already saturated with established players, making it difficult for new entrants to gain a significant market share. Additionally, high entry barriers such as complex regulatory requirements and the need for substantial investment in research and development further discourage new players from entering the market.

Bargaining Power of Buyers: The bargaining power of buyers in the probiotic ingredients market is moderate. While buyers have a wide range of suppliers to choose from, the high demand for probiotic ingredients gives suppliers some leverage in negotiations. However, buyers can still exert some influence by switching suppliers or demanding competitive pricing.

Bargaining Power of Suppliers: The bargaining power of suppliers in the probiotic ingredients market is high. There are only a few key players in the market who have established their dominance and have strong relationships with suppliers. This gives suppliers the advantage of setting prices and terms of the supply contract.

Threat of New Substitutes: The threat of new substitutes in the probiotic ingredients market is low. Probiotic ingredients have unique health benefits and are widely used in various industries such as food and beverages, pharmaceuticals, and cosmetics. The demand for probiotic ingredients is expected to increase further due to consumer awareness and the growing interest in preventive healthcare.

Competitive Rivalry: The competitive rivalry in the probiotic ingredients market is intense. The market is highly competitive with many key players vying for market share. The players compete based on product quality, innovation, pricing, and distribution channels. This competition drives continuous research and development, leading to the introduction of new products and technologies.

Key Takeaways

The global probiotic ingredients market is expected to witness high growth, exhibiting a CAGR of 3.9% over the forecast period from 2022 to 2030. This growth is primarily driven by the increasing consumer awareness about the health benefits of probiotic ingredients, the rise in demand for functional foods, and the growing importance of preventive healthcare.

In terms of regional analysis, North America is anticipated to be the fastest-growing and dominating region in the probiotic ingredients market. The region has a well-established food and beverage industry, widespread adoption of functional foods, and a strong focus on health and wellness. Additionally, the presence of key players and increasing consumer demand for natural and organic products further contribute to the region’s growth.

Key players operating in the probiotic ingredients market include Kerry Inc., Chr. Hansen Holding AS, Koninklijke DSM NV, DuPont De Neumors, Inc., Lallemand Inc., Associated British Foods PLC, Nutris, Archer Daniels Midland Company, Advanced Enzyme Technologies, and Orffa. These players have a significant market presence and invest in research and development to innovate and introduce advanced probiotic ingredients to cater to the growing demand.

In conclusion, the probiotic ingredients market is poised for significant growth in the coming years. Factors such as increasing consumer awareness, demand for functional foods, and the focus on preventive healthcare are driving the market. Key players in the market are continuously investing in research and development to stay competitive and meet evolving consumer needs.

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