Probiotics Food And Cosmetics Market Estimated to Witness High Growth Owing to Increased Focus
Global probiotics food and cosmetics market is estimated to be valued at USD 72.29 Bn in 2024 and is expected to reach USD 127.97 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 8.5% from 2024 to 2031.
Key Takeaways
Key players operating in the probiotics food and cosmetics market are Biomilk Skincare, Gallinée Microbiome Skincare, Probi Ab, LaFlore Probiotic Skincare, TULA Skincare, Nestlé, Archer Daniels Midland Company, Danone, DuPont, Yakult Honsha, General Mills, Kerry, BioGaia, Morinaga Milk Industry Co., Ltd., Glowbiotics LLC, Eminence Organic Skin Care, Esse Skin Care, L'Oréal, Estée Lauder.
The Probiotics Food And Cosmetics Market Forecast offers significant opportunities due to the increasing demand for natural and organic products. Probiotics are finding wide applications in food, beverages, dietary supplements, personal care due to their numerous gut and skin health benefits.
Technological advancements are focused on developing novel probiotic formulations with enhanced functionality, shelf-life, and delivery. New delivery methods through micro and nano-encapsulation techniques are being researched to protect probiotic payloads from harsh manufacturing and storage conditions.
Market Drivers
The key drivers contributing to the growth of the probiotics food and cosmetics market are the growing awareness about gut and skin health, ease of availability of probiotic supplements and foods, desire to opt for natural products with additional health benefits and increased spending power. With the COVID-19 pandemic, consumers are increasingly focusing on boosting their immunity through balanced diets and probiotic supplements which is further fueling the demand.
Current Challenges in Probiotics Food And Cosmetics Market
The probiotics food and cosmetics market is facing various challenges currently. Some key challenges are lack of consumer education regarding the various benefits of probiotic products, high costs of R&D activities to develop new strains of probiotics, and stringent regulations for launching new probiotic products. Consumers are still not fully aware about the role of gut microbiome in improving overall health and appearance. This makes them hesitant to purchase expensive probiotic supplements and cosmetic items. Developing clinically tested and proven probiotic formulations requires extensive research which pushes up the costs for companies. Regulatory frameworks for probiotic products also differ widely globally, forcing manufacturers to undergo lengthy approval procedures in different regions before commercialization. Overall acceptance of probiotics as a mainstream ingredient for health and beauty is a work in progress.
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