The probiotic ingredients market is projected to grow from USD 268 million in 2018 to USD 402 million by 2023, at a compound annual growth rate (CAGR) of 8.5% during the forecast period. The increasing demand for dietary supplements in the pharmaceuticals, cosmetics, and personal care industries is projected to drive the market for probiotics, which in turn, is projected to drive the market growth for probiotic ingredients.

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The probiotic ingredients market comprises several stakeholders such as probiotic ingredient manufacturers, regulatory bodies, intermediary suppliers, and end users in the supply chain. The demand side of this market is characterized by the development of the food & beverage, pharmaceutical, animal nutrition, and cosmetics & personal care industries. The supply side is characterized by advancements in technology and various application industries. Primary sources from both, the supply and demand sides of the market were interviewed to obtain qualitative and quantitative information. Following are the breakdown of primary respondents:

The Asia Pacific region is projected to hold the largest market due to the natural predisposition among consumers in this region for taking supplements. China, India, and Japan are estimated to be the primary drivers of this market with China projecting its growth in the segment of infant formula within probiotics. There is also a growing awareness among the people in India and Japan about using alternatives such as probiotics for the treatment and prevention of lifestyle disorders. The probiotics are gaining popularity in the Asia Pacific market particularly in the animal nutrition segment due to the growing concerns about their health and productivity.

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The major players in the probiotic ingredients market are Kerry (Ireland), DowDuPont (US), CHR. Hansen (Denmark), Biogaia (Sweden), Probi (Sweden),Glac Biotech (Taiwan), Bifodan (Denmark), Lallemand (Canada), UAS Laboratories (US), and Biena (US). Of these companies, CHR Hansen, DowDuPont, Lallemand and Kerry have held the largest market share of 70% in the probiotic ingredients market. These companies are focusing on agreements and product launches to establish themselves in the market.

Report Objectives

• Determining and projecting the size of the probiotic ingredients market with respect to its application, source, form, end user, and regional markets, over a five-year period ranging from 2018 to 2023
• Identifying attractive opportunities in the market by determining the largest and fastest-growing segments across regions
• Analyzing the demand-side factors on the basis of the following:
• Impact of macro- and micro-economic factors on the market
• Shifts in demand patterns across different sub-segments and regions
• Identifying and profiling key players in the probiotic ingredients market
• Providing a comparative analysis of the market leaders on the basis of the following:
• Product offerings
• Business strategies
• Strengths, weaknesses, opportunities, and threats
• Key financials
• Understanding the competitive landscape and identifying major growth strategies adopted by players across the key regions
• Analyzing the supply chain and regulatory frameworks across regions and their impact on prominent market players
• Providing insights on key investments in product innovations and technology and patent registrations