The Probiotic Ingredients Market Will Observe Just-Above 6% CAGR Over 2022-2032, Report by FMI
12/19/2022, Newark // Future Market Insights, Inc. //
The market for probiotic ingredients worldwide was estimated at USD 5,369.5 million in 2022 and is anticipated to grow at a CAGR of 6.4% from 2022 to USD 9,734.8 million by 2032. Over the years 2022-2032, the probiotic ingredients market would have a CAGR of just over 6%.
Data from the International Probiotics Association show that:
Market value for fortified foods is US$166.6 billion. According to data from the 2017 National Health Interview Survey (NHIS), prebiotics or probiotics were used by 1.9% of American adults (5.9 million) in the previous 30 days. Regional markets for probiotic components will continue to be dominated by those in North America and Europe. This expansion is related to the rise in popularity of particular probiotic supplements, such as those for pregnancy, vaginal health, and other uses. More than 31.4% of females in the U.S.
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The growth rates of the global market and its potential for future expansion are compared and evaluated by FMI every six months. Certain demographic and innovative elements of the market are dominant as a result of the subjective effects of macro- and industry-level variables.
Probiotics aid in fostering a healthy balance of intestinal bacteria, which has numerous positive effects on health. Atopic dermatitis, paediatric acute infectious diarrhoea, irritable bowel syndrome, antibiotic-associated diarrhoea, and obesity are some of the serious medical disorders that can be avoided by using probiotics.
Different bacterial strains in probiotics have various benefits. Eczema of the most prevalent form is atopic dermatitis.
New changes that have occurred in these markets include
- Deerland Probiotics & Enzymes, a probiotic, prebiotic, and enzyme technology leader with global sales and manufacturing in the US and Europe, was bought by the Archer Daniels Midland Company. In order to provide synergies for its Health and Wellness business and support its expansion throughout the Nutrition business unit, ADM will be able to utilise Deerland’s expertise and portfolio thanks to the acquisition.
- Probiotics are expanding into fresh health categories and making new claims, creating numerous opportunities in developed markets. 50 percent of probiotic components are sold in North America, driven mostly by strong customer demand for goods with targeted action and excellent health benefits.
- Cargill collaborated with The Harris Poll to learn more about how consumers perceive problems with immunity and digestive health. According to the poll, 35% of participants linked postbiotics to a healthy gut, and 28% acknowledged that they had increased their selection of postbiotic ingredients and recognised that postbiotics supported immunity.
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The global Probiotic Ingredients Market expanded by 4.0% during the first half of 2021. However, not all areas have seen this rise equally; the developing markets have seen rate of growth of 6.4% (H1 2022 Expected). As a result, there will be a 244 BPS point difference between H1 2022’s expected growth and predicted growth.
Market participants have a competitive advantage over their rivals thanks to their wide range of product offerings and extensive geographic reach. Many local small- and medium-sized businesses, however, also have a sizable amount of market share.
Due to the expanding use of probiotic components in foods, beverages, and nutritional supplements, there is an increase in the number of small domestic companies with a higher penetration rate in rural economies.
Although customers are aware of the health advantages of probiotics, high prices resulting from greater raw material costs make it difficult for producers to sell the product. Consequently, this has a negative impact on the worldwide probiotic ingredients market.
Top 3 Factors Shaping The Probiotic Ingredients Market
Scientific Advancements Broadening the Use of Probiotic Ingredients:
Lately, in the field of nutritional wellbeing, escalated research of gut flora has been of vital significance of overall health. Research on probiotic ingredients and gut flora has enhanced due to advancements in technologies, which can decide and analyse the human micro biome.
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Research studies in the field of probiotic ingredients additionally demonstrate the capability of wellbeing adequacy of probiotics for metabolic and psychological conditions, alongside the impacts on gastrointestinal tract and the immune system. Because of these propelled outcomes, the development of probiotics in new indication areas is expanding, which is expected to contribute to progress in the long term, as the market becomes more extensive and more prominent.
Increasing Cases of Vaginal and Urinary Tract Infection:
According to NHS, urinary tract and vaginal infections are the second-most common infections occurring in the body, and account for approximately 8.1 Mn visits to doctors per year.
Urinary tract and vaginal infections are among the most common bacterial infections, which further lead to neurological bladder infection and several other medical conditions. In several countries, conservative societies prevent females from discussing such an infection, and obtaining the required medication is also difficult.
Explore FMI’s Other Extensive Reports of Food & Beverage:
Animal Feed Probiotics Market Share : The overall animal feed probiotics market value is expected to reach US$ 6,997.2 Mn by 2031.
Probiotic Yogurt Market Size : Besides this, manufacturers are producing probiotic yogurt from various sources to acknowledge demand from the vegan population in the global market.
Lactose Free Probiotic Yogurt Market Trends : The global lactose free probiotic yogurt market is forecasted to be appraised at US$ 25.05 billion by 2032.
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10 years.
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