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The Asia-Pacific region has emerged as the largest market for the global probiotic food and cosmetics market with a 40% market revenue share in 2021.
NEWARK, UNITED STATES, April 25, 2022 /EINPresswire.com/ — The probiotic food and cosmetics market is expected to grow from USD 54.3 billion in 2021 to USD 111.28 billion by 2030, growing at a CAGR of 8. 4% over the forecast period 2022-2030. Growing consumer awareness, increasing disposable income, increasing number of people suffering from obesity and other conditions, increasing healthcare expenditures , Declining Immunity Due to Pandemic Are Driving Probiotic Foods and Cosmetics Market; the need to innovate new products for customers is likely to drive investment in probiotic solutions for the food and cosmetics industry.
The bacteria segment led the market with a market value of around 38.87 billion in 2021.
The ingredients segment is divided into bacteria and yeasts. The bacteria segment dominated the market with a market value of approximately 38.87 billion in 2021. Bacteria, especially lactobacilli, have been in high demand in terms of probiotics due to the already well-established habits of consumption of dairy products in Asia-Pacific and Europe.
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The preventive healthcare segment is expected to grow at the fastest CAGR of 9.4% during the forecast period.
The function segment is divided into regular, preventive and therapeutic health care. During the forecast period, preventive healthcare is expected to grow at the fastest CAGR of 9.4%. This is attributed to increased R&D investment for continued innovations that can be targeted to prevent and cure specific conditions. These solutions are non-invasive and come in the form of tablets, capsules, tonics. New products show promise and are preferred over pharmaceutical agents. A regulated dosage of probiotics can prevent/cure conditions such as diarrhea, gum disease, eczema, etc. without any side effects, because they are natural.
The dietary supplements segment is set to dominate the market, registering a CAGR of 9.2% over the forecast period.
The application segment is divided into food and beverages, dietary supplements and animal feeds. The dietary supplements segment will dominate the market, registering a CAGR growth of 9.2%. Customers in this segment are well established in the North American market, where the intake of vitamins and other supplements is an established standard for maintaining good health. Other regions of the market are experiencing the same trends due to influential social media celebrities/creators promoting these products to their huge online audience.
Regional Segmentation Analysis:
The market is analyzed based on five regions, namely North America, Europe, Asia-Pacific, South America, Middle East and Africa. During the forecast period, Asia-Pacific is expected to be the largest market. The market for probiotic food and cosmetic products in Asia-Pacific has grown rapidly. Probiotic foods and cosmetics in Asia Pacific are dominated by China and Japan. Japan’s aging populations are inclined to consume probiotics due to their natural and compact nature in the form of easy-to-take pills, capsules, tablets. Cases of obesity and malnutrition are increasing in the South Asia region, with the number of malnutrition cases increasing due to COVID-induced lockdowns. Malnutrition cases are a combination of numbers of children suffering from diseases such as wasting and stunting. Individual immunity has also declined globally. Together, these factors have increased the need for supplements like probiotics that keep the body balanced, improve digestion, boost immunity, and fight bad bacteria.
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Competitive analysis:
Major market players include BioGaia AB, Lifeway Foods, Inc., Nestlé SA, Protexin, Probi AB, Danone, Yakult Honsha Co., Ltd., Ganeden, Inc. ADM, Dupont, among others.
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