by Next generation probiotics refer to live microorganisms that provide substantial health benefits to the host when administered in adequate amounts. Probiotics can reduce the harmful bacteria and aid in digestion. Probiotics are available in various forms such as dietary supplements and functional foods & beverages. Factors such as increasing prevalence of gastrointestinal and metabolic disorders, rising health consciousness among people, and growing usage of probiotic dietary supplements are expected to propel the demand for next generation probiotics over the forecast period.
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:
One of the drivers for the growth of the next generation probiotics market is the increasing consumer awareness about probiotics. Consumers are well aware about the health benefits of probiotics such as strengthening immunity, improving digestive and gut health, managing weight, and reducing risk of antibiotic-associated diarrhea. As a result, consumers are increasingly purchasing next generation probiotic supplements. Moreover, growth in health and wellness trends has shifted the focus towards preventive healthcare. This encourages individuals to opt for probiotic supplements regularly to boost health from within naturally. The rising consumer knowledge regarding the benefits of probiotics has augmented the demand for next generation probiotic supplements and foods globally.
Another driver expanding the next generation probiotics market is the growing number of people suffering from various digestive issues such as irritable bowel syndrome (IBS), inflammatory bowel disease (IBD), constipation, and abdominal discomfort. Changing eating habits and lack of fiber intake are contributing to increased prevalence of digestive disorders. Next generation probiotics help maintain a balance of microflora in the gut and regulate digestive processes. They also help treat digestive issues by reducing symptoms of IBS and IBD. Thus, growing prevalence of gastrointestinal disorders drives the need for next generation probiotics, thereby fueling market growth over the forecast period.
Segment Analysis
Next Generation Probiotics Market witnesses fierce competition among various segments. The Human Health segment dominates the market with around 60% share owing to rising awareness regarding digestive and gut health. Additionally, probiotic supplements and gummies specifically targeted towards children are gaining traction due to their easy consumption and numerous health benefits.
PEST Analysis
Political: The regulatory landscape regarding probiotic claims and labelling differ widely across regions. Favourable regulations in North America and Europe have propelled growth compared to Asia Pacific with stringent norms.
Economic: Rising disposable incomes coupled with growing health expenditure have encouraged consumers to opt for premium probiotic supplements. Developed markets constitute the majority share due to high awareness and spending capacity.
Social: Social media marketing highlights the digestive and immune benefits of probiotics influencing purchase decisions. Growing focus on preventive healthcare and gut microbiome also drives the market.
Technological: Leading players are investing in R&D to develop innovative delivery formats, strain varieties with proven efficacy and customization as per consumer requirements. This has expanded applications from food to supplements.
Key Takeaways
The Global Next Generation Probiotics Market Demand is expected to witness high growth over the forecast period. 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.
Regional analysis indicates North America dominates with over 35% share led by the US owing to favourable regulatory environment and consumer preference for innovative probiotic strains despite Asia Pacific growing at a faster rate led by China, India and Japan.
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, and Firmenich, Symrise. Key players are focusing on new product launches, substantiating health claims and investing in clinical trials to bolster market presence.
Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.
