DUBLIN--(BUSINESS WIRE)--The "Probiotic Ingredients Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" report has been added to ResearchAndMarkets.com's offering.
The global probiotic ingredients market was valued at USD 4,053.77 million in 2020, and it is projected to register a CAGR of 3.58% during the period of 2021-2026.
- Kerry Inc.
- Chr. Hansen Holding AS
- Koninklijke DSM NV
- DuPont de Nemours Inc.
- Lallemand Inc.
- Associated British Foods plc
- Deerland Probiotics & Enzymes Inc.
- Advanced Enzyme Technologies
Key Market Trends
Higher and Diverse Application in Nutraceuticals
The demand for probiotic ingredients is primarily driven by increasing application in nutraceuticals, such as fortified food and beverage products, and dietary supplements.
As per data by Packaged Facts, the consumption of probiotic dietary supplements was the highest among the age group of 18-34 years, highlighting their changing mindset toward staying fit and healthy. It can also be concluded that young Americans do not want to suffer at an old age, unlike their elders.
Therefore, they are taking preventive measures to avoid health complications from their earlier years. Therefore, the producers of probiotic supplements are capitalizing on the application, formulation, and therapeutic expansion to other health benefits, apart from the mainstream, to regulate sales. This, in turn, is increasing the application of probiotics in food and beverage products.
Increasing Application of Probiotic Ingredients in South America
The South American market has witnessed significant growth, due to the increasing demand for health and wellness products, coupled with the rise in awareness among consumers for functional food and beverages.
Additionally, Brazilians give emphasis on a better digestive system, which encourages them to buy dietary supplements. Due to this, manufacturers are expanding their presence in the country to cater to the growing demand and achieve a competitive advantage in the market. For instance, Probi, a global probiotic solution company, signed a distribution agreement with Laboratorio Daudt (a Brazilian pharmaceutical company). Under the agreement, Daudt agreed to launch the probiotic supplement, Probi Mage, in the Brazilian market.
Key Topics Covered:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
5 MARKET SEGMENTATION
5.1 By Type
5.2 By Application
6 COMPETITIVE LANDSCAPE
6.1 Most Active Companies
6.2 Most Adopted Strategies
6.3 Market Share Analysis
6.4 Company Profiles
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
8 IMPACT OF COVID-19 ON THE MARKET
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