Next generation probiotics are live microorganisms that provide health benefits to consumers when consumed in adequate amounts. They help improve digestive health and enhance immunity. Products containing next generation probiotics include dietary supplements, functional foods, and beverages. Their consumption reduces the risk of gastrointestinal disorders and improves nutrient absorption.
The global Next Generation Probiotics Market is estimated to be valued at Us$ 186.93 Mn in 2023 and is expected to exhibit a CAGR Of 5.9% over the forecast period 2023 To 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
Rising health conscious consumers is estimated to drive the growth of the next generation probiotics market over the forecast period. Consumers are increasingly becoming aware about the role probiotics play in maintaining overall health and wellbeing. This is prompting them to include more probiotic enriched foods and beverages in their daily diet. Additionally, ongoing research and developments focused on identifying new probiotic strains with enhanced health benefits are also expected to boost market growth. However, stringent regulations pertaining to approval and commercialization of probiotic products might hamper market expansion to some extent over the forecast period.
SWOT Analysis
Strength: Next Generation Probiotics market has seen increased adoption in food & beverage industries over the past few years as probiotics are considered beneficial for human health when consumed. Probiotics help maintain a balanced gut microbiota and regulate digestive functions. Several clinical studies validating the health benefits of probiotics have increased consumer awareness.
Weakness: High costs associated with R&D and clinical validation of novel probiotic strains is a challenge for small manufacturers to sustain in this market. Consumer confusion regarding the health outcomes from different probiotic strains also remains an issue.
Opportunity: Emerging economies in Asia Pacific and Latin American regions present lucrative growth prospects for probiotic producers due to rising health consciousness. Rapid urbanization and growth of retail channels in these regions will aid market penetration. Development of therapeutics targeting specific disorders using probiotics opens up new revenue streams.
Threats: Stringent regulatory norms for new probiotic strains and health claims differs across regions and needs significant compliance spend. Rapid changes in consumer preferences and emergence of alternative natural health products are threats.
Key Takeaways
The Global Next Generation Probiotics Market Demand is expected to witness high growth over the forecast period of 2023 to 2030. The market size for 2023 is pegged at US$ 186.93 million. Robust CAGR of 5.9% will be witnessed through 2030 driven by health benefits of probiotics with potential applications in therapeutic areas.
Regional analysis
Asia Pacific region dominates currently led by Japan, China and India and is expected to remain the fastest growing regional market owing to growing gut health awareness initiatives. North America follows APAC with rising expenditure on preventive healthcare and wellness trends. Europe also captures major market share with supportive regulations and health-centric consumer behaviors prevalent across countries.
Key players
Key players operating in the Next Generation Probiotics market are Coty UK, Procter & Gamble Prestige Beaut, L’Oreal, LVMH, Givaudan, International Flavors & Fragrances, Estee Lauder Beautiful, Kilian, Firmenich, Symrise
Get more insights on this topic :
Arabic
Français
Español
Português
Deutsch
Türkçe
Dutch
Italiano
Russian
Romaian