Probiotic Products Market size to grow by USD 26.85 million | Research Insights highlight the Increase in New Product Launches as Key Driver - Technavio

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Vendor Insights

• The probiotic products market is fragmented and the vendors are deploying growth strategies such as pricing and marketing strategies to compete in the market.
• The global probiotic products market is characterized by the presence of large, small, and medium-sized manufacturers.
• To survive in a competitive environment, it becomes imperative for manufacturers to promote their product offerings through a clear and unique value proposition.
• In addition, vendors are opting for pricing and marketing strategies to retain their existing market shares and seize new market opportunities.
• In December 2020, Danone SA introduced a probiotic product for preventing lactation mastitis in breastfeeding mothers. It is marketed and sold exclusively in China. In September 2020, Danisco (DuPont de Nemours Inc.) launched the latest series of dairy cultures and probiotic formulations for China.

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

• Archer Daniels Midland Co.
• BioGaia AB
• Chr. Hansen Holding AS
• Danone SA
• DuPont de Nemours Inc.
• Lallemand Inc.
• Lifeway Foods Inc.
• Nestle SA
• Probi AB
• Yakult Honsha Co. Ltd.

Find additional highlights on the growth strategies adopted by vendors and their product offerings. Download Sample Report.

Geographical Market Analysis

• APAC contributed for the largest probiotic products market share during 2020 and will generate growth across all the years of the forecast period between 2020 and 2025.
• The major reason for the growth in the region is the extensive use of dairy products in the emerging and advanced economies of the region including Japan, China, India, and Australia.
• Probiotics such as milk and kefir provide beneficial gut bacteria, which help to maintain a healthy immune system. Furthermore, supplements such as probiotics are becoming popular in the region, as people are opting for functional foods that provide additional benefits over essential nutrients when consumed at efficacious levels.
• To meet these rising probiotic requirements, companies in the region are offering innovative probiotics and high protein-based supplements in the regional market.
• In addition, other economies including US, Japan, China, Germany, and UK will further contribute to the market growth during the forecast period.

Key Segment Analysis

• By product, the probiotic functional food and beverage segment led over 65% during 2020 and is likely to retain its dominant share in the market by 2025.
• The increasing awareness about the health benefits of probiotics, such as the low risk of diabetes, reduction in the level of cholesterol and BP, increase in bone density and immunity, and weight loss, drives the growth of the probiotic functional food and beverage market.
• The growing demand for functional foods coupled with the introduction of innovative products and ingredients is driving the market.
• An increase in the demand for functional foods from older people, surge in the number of health-conscious adults, and an increased concern about the health of children are other factors fueling the markets' growth.
• By end-user, the human segment held over 95% of the market share will continue to lead the market during the forecast period.

Know more about this market's geographical distribution along with the detailed analysis of the top segments. https://www.technavio.com/report/probiotic-products-market-industry-analysis

Key Market Drivers, Trends & Challenges:

Key Driver- Increase in new product launches

• New product launches by regional and international players contribute to the growth of the global probiotic products market.
• Manufacturers of probiotics are adopting innovative and distributive strategies to increase the market size of these products.
• New product launches increase the market share of players and offer them a competitive edge over other players.
• In March 2021, Bayer AG extended its expertise in gastrointestinal relief to overall gut wellbeing through the launch of two probiotics under the brand Talcid, in order to tackle constipation and diarrhea.

. Key Trend- Rising awareness of the benefits of probiotic supplements

• Probiotics have gained popularity due to the increased awareness about their benefits, especially among health-conscious individuals.
• Consumption of probiotic supplements prevents the growth of harmful bacteria inside the digestive tract, leading to an improvement in nutrient absorption and bowel movements. In addition,  it improves the interstitial microbial balance by lowering the pH levels.
• Consumers are currently more interested in consuming healthier foods and beverages that are good for gut health and immune system enhancement. Hence, they are increasingly intaking active digestive health ingredients such as probiotic dietary supplements in the form of powder, tablets, pills, and capsules.
• Growing awareness regarding preventive healthcare and maintaining healthier lifestyles instead of facing the consequences of sedentary lifestyles is another factor leading to the market growth.
• Thus, this awareness is expected to drive the global probiotic dietary supplements market during the forecast period.

View free sample for highlights on market Drivers, Trends & Challenges affecting the probiotic products market.

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