Rising Inclination of Millennials towards Healthy Lifestyle Expected to Bolster Probiotics Market Growth
COVID 19 pandemic has triggered a sudden sizable change with respect to the way millennials are focusing on their health. Millennial population has placed a higher priority on wellness and health to lead a healthy and disease-free lifestyle. This has influenced the consumption of healthy food products that favour the immune system, and probiotics are no exception. In addition, awareness regarding wellness and importance of healthy diet through publicity via multiple channels and social media has transformed consumption patterns to a significant extent. Being technology savvy, millennials update their know-how related to health facts and associated diets and try to incorporate in their usual routines. This is likely to inflate the demand for food supplementary products such as probiotics.
Probiotics with Lactobacilli Ingredients to Gain High Traction
Demand for probiotics from lactobacilli ingredients is expected to rise at a significant pace on the back of their perceived benefits apropos to reducing LDL cholesterol level. Moreover, the lactobacilli ingredient provides a significant defensive efficacy that helps in preventing the occurrence of acute diarrhoea among children within the 1 – 5 years age group. Probiotics from the lactobacilli ingredients also reduce glucose levels in blood, in turn controlling the risk of diabetes type 2 in individuals, which is expected to further stimulate its demand. Other advantages of lactobacilli acidophilus probiotics such as prevention of Irritable Bowel Syndrome (IBS), prevention of vaginal infections (vulvovaginal and vaginosis), promoting weight loss, reduction of flu, cold and allergy symptoms and reduction in the occurrence of eczema is expected to boost its demand, in turn contributing to the growth of the probiotics market.
Asia Pacific Probiotics Market Likely to Witness a Significant Spike in Growth in the Coming Years
Demand for probiotics across emerging economies such as China and India is expected to drive the growth of the market in the region. Rising awareness among consumers regarding the importance of probiotics in enhancing gut health, reduced intestinal inflammation, reduction in cholesterol levels and other lifestyle diseases such as diabetes, coronary heart disorders and obesity prevailing due to lifestyle changes has influenced the consumption of probiotics. In addition, probiotics play a crucial role in preventive healthcare. They help strengthen and improve human immune system in turn preventing the occurrence of diseases. Moreover, growing consumer inclination towards intake of proper diet has influenced the functional food sector in the region, which is expected to fuel regional probiotics demand. In addition, being natural promoters of growth, probiotics are an ideal choice in commercial animal feed that enhance gastrointestinal flora consequently improving animal growth, health, productivity and performance. These aspects coupled with increasing population in emerging economies are expected to drive the growth of the probiotics market in Asia Pacific in the years to follow. According to International Probiotics Association (IPA), China accounts for about half of the overall sales of probiotic products in Asia Pacific. IPA analysis also shows that China is likely to witness immense growth in the probiotics space, with its valuation touching US$ 15 billion by end of 2025.
Global Probiotics Market: Competitive Landscape
Major players in the probiotics market are mainly engaged in their production capacity expansion in a bid to meet the global demand for probiotics arising due to growing individual health awareness and spending on diet and health products. Other growth strategies such as partnerships, license agreements and mergers and acquisitions to expand their current portfolio and improve market position are also being adopted by players. For instance, in 2020, Kerry Group announced its plan to carry out acquisition of Bio-K Plus International, which will enhance Kerry’s probiotics product portfolio. On the other hand, same year in October, ADM, global supplier of feed and food ingredients, planned to construct new manufacturing facility for its probiotics line in Spain. In 2020, BioGaia and ETHICAL NUTRITION signed a collaborative agreement. According to this agreement, BioGaia Protectis drops and tablets would be sold under the BioGaia brand name in Argentina. Similarly, a new probiotics product was launched by DANONE that prevents lactation mastitis among breastfeeding mothers. This product was exclusively sold in China.
Few of the key players in the global probiotics market include DANONE, Chr. Hansen, Nestle, PepsiCo Inc., Lifeway Foods Inc., Yakult Honsha Co. Ltd., BioGaia AB, Kerry, General Mills Inc., and Danisco A/S.
Global Probiotics Market is Segmented as Below:
By End Use
Key Elements Included In The Study: Global Probiotics Market
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