The Lactobacillus Acidophilus Probiotics Market Is Estimated To Witness High Growth Owing To Increasing Health Consciousness
The Lactobacillus Acidophilus Probiotics Market is estimated to be valued at US$ 1619.68 Mn in 2023 and is expected to exhibit a CAGR of 8.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Probiotics are live microorganisms which provide health benefits when consumed. Lactobacillus acidophilus is one of the most common probiotic bacteria found in supplements, foods and beverages. It promotes digestive and immune health. As people are becoming more health conscious, demand for probiotic supplements containing L. acidophilus is increasing.
Market key trends:
The increasing health consciousness among consumers has raised awareness about digestive health and immunity. This has boosted demand for probiotic supplements containing beneficial bacteria such as L. acidophilus. Probiotics help maintain gut microbiota and support digestive functions. They also strengthen immune response. Rising cases of digestive disorders and immunity related problems have augmented consumption of L. acidophilus probiotics. In addition, manufacturers are developing innovative foods and beverages fortified with probiotic strains, expanding the market growth. For instance, yogurt drinks, juices and breads containing L. acidophilus are gaining popularity.
Porter’s Analysis
Threat of new entrants: The lactobacillus acidophilus probiotics market is moderately difficult to enter due to high capital investment needed for research and development of new products. However, the market offers immense growth opportunity to new players and thereby poses moderate threat of new entrants.
Bargaining power of buyers: Buyers have moderate bargaining power in the lactobacillus acidophilus probiotics market due to availability of alternatives. However, health benefits offered by these probiotics somewhat limits the bargaining power of buyers.
Bargaining power of suppliers: Majority of raw material suppliers are based out of Asia Pacific region and North America, giving them a slight advantage in influencing pricing of lactobacillus acidophilus. Overall, suppliers enjoy low to moderate bargaining power.
Threat of new substitutes: Alternatives such as other probiotic bacteria, prebiotics, and synbiotics pose a minor threat to the lactobacillus acidophilus probiotics market as they provide similar health benefits.
Competitive rivalry: The market is consolidated in nature with few major players holding significant market share. Intense competition exists among the players to gain higher market share.
SWOT Analysis
Strength: Health benefits of lactobacillus acidophilus such as improved digestion, enhanced immune function, and prevention of diseases make it a preferred option.
Weakness: Lack of adequate clinical evidence and standardization concerning efficacy of probiotic products poses challenge. In addition, high production costs set barriers to entry especially for small players.
Opportunity: Rising awareness about gut health and preventive healthcare presents lucrative opportunity. Additionally, expansion of distribution channels through e-commerce provides new opportunities to key players.
Threats: Stringent regulatory framework governing the food and pharmaceutical industry pose major compliance challenges. Fluctuations in raw material prices also impact overall production costs of manufacturers.
Key Takeaways
The Global Lactobacillus Acidophilus Probiotics Market Size is expected to witness high growth, exhibiting CAGR of 8.0% over the forecast period, due to increasing consumer proclivity towards foods with functional health benefits.
Regional analysis: North America dominates the global Lactobacillus Acidophilus Probiotics market due to robust awareness levels and expanding food and dietary supplement industry in the region. The Asia Pacific region is anticipated to be the fastest growing market over the forecast period owing to population explosion, improving living standards and rising health expenditures.
Key players analysis: Key players operating in the Lactobacillus Acidophilus Probiotics market are DuPont Nutrition (International Flavors & Fragrances Inc.), BIOPROX, Biena Inc., Chr. Hansen Holding A/S, Nebraska Cultures, Meteoric Biopharmaceuticals Pvt. Ltd., Nestlé, Lallemand Inc., and Fido Pharma Pvt. Ltd.
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