WORLD – Expanding R&D investments in dietary supplements by major manufacturers and continuous product development in nutritional beverages are expected to catapult the global probiotic ingredients market size to US$3.97 billion by 2026.
This is according to a new study published by Polaris Market Research, which provides insights on the current market scenario and the future prospects, projecting the market to grow at a CAGR of 6.9 % from 2019 to 2026.
Probiotics are live bacteria’s that facilitates digestive functioning in the human body and have been incorporated in several foods and beverages to aid in the treatment of certain conditions such as irritable bowel syndrome, inflammatory bowel disease, and diarrhea caused by antibiotics.
While most of the bacteria are considered as probiotics, the term Lactobacillus is used to describe the specific microorganisms commonly used across fermented food and beverages.
Major growth drivers
Polaris Market Research cites growing awareness as well as concerns among consumers along with preventive measures to facilitate healthy living as some of the major factors expected to boost the market growth over the forecast period.
According to the research firm, concerns in line with health combined with rising digestive disarranges from undesirable lifestyle is a key factor anticipated to impact the market demand.
Expected to positively influence the industry growth over the forecast period is the unhealthy food habits of consumers and burgeoning wellbeing issues.
Product development in nutritional beverages including yogurt, juices, fermented tea, and pickles by prominent players, such as, Danone, is also anticipated to positively impact market growth.
In addition, Polaris says that the ease of availability of probiotic foods in specialist shops, supermarkets and pharmacies is expected to increase product awareness among consumers and promote brand image among conscious buyers, which, in turn, will boost development of the market.
As far as application is considered, Polaris’ report indicated that probiotics in food & beverages segment drove the worldwide market and is expected to anticipate subsequent growth on account of increased spending on nutritional nourishment.
Rising food manufacturing and technologically advanced spending on infrastructure as well as R&D investments throughout emerging nations is also anticipated to impact the market demand emphatically and to open new market avenues for the probiotic ingredients market.
In the recent past, manufacturers have been seen creating and distinguishing restrictive strains of probiotics for explicit applications to meet specific prerequisites for various therapeutic conditions.
Polaris study opines that this trend of identifying probiotic strains for specific applications is also expected to boost expansion of the global market.
Overall, the dairy segment is expected to grow at the fastest CAGR over the forecast period, where probiotic ingredients are used mostly in applications such as medical food, breakfast cereals, nutritional supplements, frozen and dairy foods.
On a global scale, the Asia Pacific market is expected to remain as one of the lucrative regions over the estimated period.
According to the study, significant spending on incorporation of probiotic elements for preventive healthcare along with sports nutrition by major player such as GSK and Pfizer can impel market growth.
Strong demand for probiotics ingredients from China and Japan, by virtue of rising consumer awareness with respect to proper digestion along with cardiovascular and gastrointestinal health is expected to boost the market growth.
The study also projects significant growth in China, US and Germany boosted by an uptrend in maturing populace over the projected time frame as probiotic ingredients help to fortify the immune systems in maturing individuals.
Some of the key players in the industry that are cited in the report include Biocodex, Danone, Chr. Hansen, Lallemand, and Danisco.