Increasing Consumer Focus on Preventive Health Positively Influences Market
According to our latest market study, titled " Probiotic Ingredients Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type and Application," the market is expected to grow from US$ 3,493.42 million in 2021 to US$ 6,060.51 million by 2028; it is expected to grow at a CAGR of 8.2% from 2022 to 2028.
The demand for probiotic-infused dietary supplements has increased significantly in recent years due to the rising number of health-conscious people and the growing prevalence of digestive diseases. For instance, according to the Centre for Disease Control and Prevention, 37.2 million people in the US visited physician offices with digestive system diseases as the primary diagnosis in 2018. Thus, people are getting more aware of digestive health and prefer to consume probiotics. A healthy digestive system has been linked to mental health and immune response improvements. These dietary supplements improve digestion and nutrient absorption. They also protect proteins and lipids from oxidative damage and eliminate infections in the body. These factors are expected to boost the growth of the market.
Key players operating in the probiotic ingredients market are ADM; Novozymes A/S; Chr. Hansen Holding A/S; Kerry; Lallemand Inc.; IFF Nutrition & Biosciences; AngelYeast Co., Ltd.; Probiotical S.p.A.; Adisseo; and Probi. These key players of probiotic strains and cultures are adopting product innovation strategies and investing in business expansions to meet the rising demand for probiotics among various end-use industries.
Impact of COVID-19 Pandemic on Probiotic Ingredients Market
During the initial phase of the COVID-19 pandemic, the implementation of lockdown restrictions and shutdown of manufacturing units led to a production shortfall, which created a demand and supply gap. These factors hampered the profitability of various small-scale and large-scale probiotic manufacturers. The shutdown of manufacturing plants in leading countries in North America, Europe, Asia Pacific, South & Central America, and the Middle East & Africa disrupted the global supply chains, manufacturing activities, delivery schedules, and sales of various essential and nonessential goods. However, in 2021, the economies resumed their operations, which boosted the global marketplace, particularly the probiotic ingredients market.
In 2021, manufacturers were allowed to operate with full capacity and could overcome the demand and supply gap. Consumers are prioritizing their health and actively searching for healthy alternatives and fitness activities to prevent lifestyle-related illnesses. Retail stores, grocery stores, and supermarkets were permitted to operate within a given time limit, aiding the growth of the market.
Probiotic Ingredients Market Breakdown – by Region
Probiotic Ingredients Market to 2028 by Growth and Opportunity
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Probiotic Ingredients Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Lactobacillus, Bifidobacterium, and Others) and Application (Functional Food & Beverages, Pharmaceuticals & Nutraceuticals, Animal Feed, and Others)
Probiotic Ingredients Market to 2028 by Growth and Opportunity
Download Free SampleProbiotic Ingredients Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Lactobacillus, Bifidobacterium, and Others) and Application (Functional Food & Beverages, Pharmaceuticals & Nutraceuticals, Animal Feed, and Others)
The report segments the probiotic ingredients market as follows:
The probiotic ingredients market is bifurcated into type and application. Based on type, the market is segmented into Lactobacillus, Bifidobacterium, and others. Based on application, the market is segmented into functional food & beverages, pharmaceuticals & nutraceuticals, animal feed, and others. By geography, the market is primarily segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America (SAM).
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