According to our latest market study, titled Probiotic Ingredients Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type and Application, the market is expected to grow from US$ 3,493.42 million in 2021 to US$ 6,060.51 million by 2028; it is expected to grow at a CAGR of 8.2% from 2022 to 2028.
The demand for probiotic-infused dietary supplements has increased significantly in recent years due to the rising number of health-conscious people and the growing prevalence of digestive diseases. For instance, according to the Centre for Disease Control and Prevention, 37.2 million people in the US visited physician offices with digestive system diseases as the primary diagnosis in 2018. Thus, people are getting more aware of digestive health and prefer to consume probiotics. A healthy digestive system has been linked to mental health and immune response improvements. These dietary supplements improve digestion and nutrient absorption. They also protect proteins and lipids from oxidative damage and eliminate infections in the body. These factors are expected to boost the growth of the market.
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During the initial phase of the COVID-19 pandemic, the implementation of lockdown restrictions and shutdown of manufacturing units led to a production shortfall, which created a demand and supply gap. These factors hampered the profitability of various small-scale and large-scale probiotic manufacturers. The shutdown of manufacturing plants in leading countries in North America, Europe, Asia Pacific, South & Central America, and the Middle East & Africa disrupted the global supply chains, manufacturing activities, delivery schedules, and sales of various essential and nonessential goods. However, in 2021, the economies resumed their operations, which boosted the global marketplace, particularly the probiotic ingredients market.
Key players operating in the probiotic ingredients market are ADM; Novozymes A/S; Chr. Hansen Holding A/S; Kerry; Lallemand Inc.; IFF Nutrition & Biosciences; AngelYeast Co., Ltd.; Probiotical S.p.A.; Adisseo; and Probi. These key players of probiotic strains and cultures are adopting product innovation strategies and investing in business expansions to meet the rising demand for probiotics among various end-use industries.
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