Global Probiotic Ingredients Market, Forecast to 2021

Description

The total probiotics retail market is expected to experience a CAGR of 5.8% by the end of 2021 while the total probiotics ingredient market is expected to grow by a CAGR of 6.8% through the same time period. The probiotics retail market is dominated by the food and beverage market, mainly as a result of the number of products available in the market, but growth will be driven by the infant formulation market within the other human nutrition. Probiotic ingredients are incorporated more into food, beverages and supplements, given the established nature of research in these segments. However, other markets continue to show interest and will contribute to growth.

Health and wellness is now a mainstream trend in the food and beverage industry, hence the health benefits of probiotics will support their demand and thus, market growth. Furthermore, digestive health remains a top reason for consumers choosing functional foods, thus, it is at the core of health and wellness for consumer. It is expected that digestive health will remain a key market driver.

Traditionally, probiotics have been associated with dairy products. However, high investment into research and development and technology development now means they are included in a wide range of products. The food and beverage and dietary supplements markets will continue to dominate the probiotics market, however, there is increased interest from markets such as the animal/pet food and personal care markets. It is expected that these markets will contribute to the increased demand for probiotics and thus, growth. The infant nutrition market is a high value market for probiotic products as they are sold at higher prices relative to other functional food products in the market. This market will remain a key one for the probiotic market as a whole.

Scientific evidence is the key factor to remain successful in the probiotics market.Other critical success factors within the probiotic product market include price competitiveness, quality, convenience and brand reputation. For the probiotic ingredients market, potency, efficacy, heat stability, process ability are all factors required to stay competitive.

While probiotics are well known to support gut health, ingredient manufacturers are now highlighting their use beyond gut health. As the probiotics science continues to progress, it is expected that research into these non-traditional benefits will continue and consequently create a competitive advantage for companies highlighting these. This study provides a snapshot of some companies already highlighting these benefits.