North America Probiotics Food and Cosmetics Market Report 2022: A $20 Billion Market by 2027 Featuring Kerry Group, Yakult Honsha, Probi, BioGaia, Nestle, BLIS, P&G, DuPont, ADM, Estee Lauder, Esse - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Jan 4, 2023--
The “North America Probiotics Food and Cosmetics Market Size, Segments, Outlook and Revenue Forecast 2022-2027 by Product Type, Ingredients, Function, Distribution Channel and Major Countries” report has been added to ResearchAndMarkets.com’s offering.
The North America Probiotics Food and Cosmetics Market is expected to record a positive CAGR of 10% during the forecast period (2022-2027) and cross US$ 20 Bn by 2027, due to the rising demand for probiotics products, notably in food and beverages.
Multiple benefits to body and skin with the use of probiotics products and rising demand for nutritional food as compared to other medicated products are major growth drivers for the North America Probiotics Food and Cosmetics market.
For instance, according to a 2020 Food & Health Survey by the International Food Information Council, 54% of all consumers, and 63% of those aged over 50 in the U.S., are inclined more toward the healthfulness of their food and beverage options in 2020 than they did in 2010.
In addition, the high potential demonstrated by probiotics for the treatment or prevention of various diseases such as cardiovascular diseases, cancers, neurodegenerative disorders, and inflammatory diseases is increasing its demand in people of different age groups for preventive healthcare functions.
Multiple global brands in the functional food and beverage sector have launched innovative probiotic-fortified products in the market helping the growth. For instance, Farmi Piimatoostus Ltd. launched fermented buttermilk and a number of packaged snacks with probiotics.
Strong customer buying power and the presence of producers of immunity-boosting food products in the North American region act as an opportunity for the market to grow in the near future.
According to a 2022 survey conducted by a key supplier of probiotics, Chr. Hansen, Nearly 48% of people in North America consume probiotics almost daily either in foods or supplements. As per the data from the U.S. Department of Agriculture Economic Research Service, in the year 2021, the per capita consumption of yogurts in the U.S. was 14.9 pounds.
However, the high cost of the research and development process for the manufacturing of probiotics and the overall higher cost of probiotics supplements as compared to other dietary supplements acts as a major challenge to this market growth.
The COVID-19 crisis has brought diverse opportunities in the Probiotics Food and Cosmetic market as it offered numerous benefits that helped people fight the virus in the easiest way. Probiotics were used as supplements that proved to be an effective method for combating the virus. The COVID-19 pandemic has been largely acting as a catalyst for probiotic product demand in the U.S.
The global pandemic escalated the demand for immunity-boosting food products and supplements among people of every age group. In recent months, the use of probiotics is increasing gradually which can also be noticed in some of the major players in the market. On whole, COVID-19 pandemic has benefited the probiotics industry, particularly in 2020, by intensifying the trend towards immunity-boosting food products and supplements.
The North America Probiotics Food and Cosmetics market is highly competitive with ~150 players which include globally diversified players, regional players as well as a large number of country-niche players having their own niche in food & beverages and cosmetics industries. Most of the country-niche players are probiotics strains suppliers.
Large global players control nearly half of the market, while regional players hold the second largest share. Some of the major players in the market include Kerry Group plc, Yakult Honsha Co., Ltd, Probi, BioGaia AB, Nestle, BLIS Technologies, Procter & Gamble, DuPont, ADM, H&H Group, Estee Lauder Inc, Esse Skincare, among others.
The leading global specialist companies such as Yakult Honsha Co., Ltd, BLIS Technologies, Estee Lauder Inc, and Esse Skincare are highly focused on providing a significant number of probiotics food and cosmetics products that can be used across multiple industries, including food and beverages, cosmetics, pharmaceuticals, animal feed and more.
Recent Developments Related to Major Players
In February 2022, Kerry Group reached an agreement to acquire a leading biotechnology innovation company, c-Lecta. The acquisition will act as an opportunity and help the company in the expansion of its technology portfolio and manufacturing capabilities of bio-processing and bio-transformation of enzymes.
In February 2022, Nestle announced the acquisition of core brands of The Bountiful Company, including Osteo Bi-Flex, Nature’s Bounty, Puritan’s Pride, Solgar, Ester-C, and Sundown. The acquisition established the company as the industry leader in herbals, vitamins, minerals and supplements.
In January 2022, BioGaia AB acquired 100% shares of Nutraceutics Corporation through its US subsidiary, BioGaia Biologics Inc. The acquisition helped the company to extend its nutraceuticals product portfolio by merging the acquired company’s technologies and products.
Key Topics Covered in the Report:
- Snapshot of North America Probiotics Food and Cosmetics Market
- Industry Value Chain and Ecosystem Analysis
- Market size and Segmentation of North America Probiotics Food and Cosmetics Market
- Historic Growth of Overall North America Probiotics Food and Cosmetics Market and Segments
- Competition Scenario of the Market and Key Developments of Competitors
- Porter’s 5 Forces Analysis of North America Probiotics Food and Cosmetics Industry
- Overview, Product Offerings, and SWOT Analysis of Key Competitors
- Covid 19 Impact on the Overall North America Probiotics Food and Cosmetics Market
- Future Market Forecast and Growth Rates of the Total North America Probiotics Food and Cosmetics Market and by Segments
- Analysis of Probiotics Food and Cosmetics Market in Major North America Countries
- Major Production/Consumption Hubs in the Major North American Countries
- Major Production/Supply and Consumption/Demand Hubs in Each Major North America Country
- Major Country-wise Historic and Future Market Growth Rates of the Total Market and Segments
- Overview of Notable Emerging Competitor Companies within Each Major Country
Major Companies Profiled in the Report
- Kerry Group plc
- Estee Lauder Inc
- BLIS Technologies
- BioGaia AB
- Yakult Honsha Co., Ltd
- Estee Lauder Inc
- Procter & Gamble
- H&H Group
- Esse Skincare
- Lallemand Inc
- Lifeway Foods, Inc
- Ganeden, Inc
- Deerland Probiotics & Enzymes Inc
- KeVita, Inc
- Evolve BioSystems
- Cell Biotech Co., Ltd
- Probiotical S.p.A
- NutraScience Labs
- LaFlore Probiotic Skincare
- The Clorox Company
Scope of the Report
By Product Type
- Probiotics Food & Beverages
- Dietary Supplements
- Preventive Healthcare
By Distribution Channel
- Specialty stores
- Rest of North America
Key Trends by Market Segment
- By Product Type: Probiotics Food and Beverages segment holds the largest share of the North American Probiotics Food and Cosmetics market in terms of product type
- Probiotics Food and Beverages segment is likely to retain its dominant share in the market by 2027
For more information about this report visit https://www.researchandmarkets.com/r/heyj3x
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INDUSTRY KEYWORD: COSMETICS VITAMINS/SUPPLEMENTS RETAIL HEALTH
SOURCE: Research and Markets
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PUB: 01/04/2023 10:26 AM/DISC: 01/04/2023 10:27 AM