PROBIOTIC INGREDIENTS MARKET SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS (2023 - 2028)


Probiotic Ingredients Market Analysis:

The market size of Probiotic Ingredients is projected to be USD 5.18 billion in 2023, with an expected increase to USD 6.43 billion by 2028, growing at a CAGR of 4.40% during the forecast period (2023–2028).

Probiotics are widely consumed by consumers of all ages, and are a significant driving force in the rapidly expanding digestive health supplements category. The younger generation, particularly millennials, are observed to have a high consumption rate due to their growing awareness of health and wellness through multi-channel publicity, which has significantly influenced their consumption patterns. Millennials, who are technologically advanced, keep themselves updated with health tips and information, and try to change their routines and eating habits accordingly. The easy availability of information about preventive healthcare on the internet has contributed favorably to the rising consumer awareness about probiotic products, which, in turn, has been driving market growth.

The key players in the market have been expanding their product portfolios by launching probiotic strains and cultures in easily incorporable forms. For example, in August 2021, Chr. Hansen launched a line of three live probiotics, each covering the needs related to a specific life stage of dogs and cats. It includes Chr. Hansen Pet-Prostart, Chr. Hansen Pet-Proessentials, and Chr. Hansen Pet-Provital products. Furthermore, partnerships between ingredient manufacturers and consumer-focused probiotic manufacturers have helped launch new products in the market. However, stringent regulations about the use of probiotics in infant formula, nutraceuticals, and dietary supplements, among others, are expected to restrain the growth potential of the market during the forecast period.

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