The worldwide plant-based probiotics market is expected to be worth $890.1 million in 2022 and to grow at a 6.7% CAGR to reach $1.7 billion by the end of 2032.Plant-based probiotics accounted for around 1% of the worldwide probiotics market by the end of 2021.
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Probiotics derived from plants are one sort of helpful microorganisms for human health. They maintain a major market position because to the numerous health benefits that they bring to people above other synthetic supplements.Flavoring enhances the sensory qualities of these plant-based probiotic products. Efforts to reduce the negative effects of antibiotic use have spurred the development of plant-based probiotics with enhanced effectiveness.
From 2017 to 2021, consumption of plant-based probiotics rose at a compound annual growth rate of 5.1%.
Because of today’s hurried lifestyles, consumer awareness of numerous aspects such as the health advantages of embracing plant-based diets, escalating animal cruelty, and so on is increasing.
Competitive Landscape:
The top producers of plant-based probiotics in the world are using cutting-edge technologies to make innovative products. The industry is characterized by fierce competition because there are a significant number of market participants.Manufacturers have incorporated organic ingredients, appealing packaging, and novel flavours to gain a competitive edge over their rivals.
In Jan 2021, Wellbeing Nutrition (WBN), India’s top organic plant-based nutrition brand, released a line of 6 strains of plant-based, clinically-studied probiotics for a healthier gut.
In Sept 2021, Bio-K Plus International Inc. introduced an extra range of functional drinking probiotics. The new line provides a protein basis of fermented oats and pumpkin seeds combined with additives that have been supported by science, as well as 80 million CFUs.
Key Players:
- Yakult
- Lallemand Inc.
- Kerry Group Plc.
- DuPont
- Nature’s Bounty
- BioGaia
- Bio K+
- A&B Ingredients
- Wellbeing Nutrition
- Naturelo
- PlantFusion
- Custom Probiotics Inc
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Regional Analysis:
The plant-based probiotics industry in the United States is now valued at US$ 127 million.The United States has one of the most well-established healthcare infrastructures in the world, which benefits the intake of plant-based probiotics. A shift in consumer desire for a healthy lifestyle has increased demand for preventative healthcare, motivating producers to offer new functional items such as food containing probiotics in various forms.
While health is a big reason why people are converting to plant-based probiotics, many individuals just prefer the flavor. According to recent research, 52% of Americans choose plant-based protein because it tastes better than any other option.
Strong demand for plant-based probiotics from adjacent nations such as India and Australia is helping China and Japan develop. Rising population and disposable income are also predicted to support regional market expansion.Key companies’ advancements in manufacturing methods are expected to enhance the market in these countries. Plant-based probiotics markets in China and Japan are predicted to grow at high CAGRs of 6.5% and 7.4%, respectively, between 2022 and 2032.
Key Segments of Industry:
- by Product Type :
- Fermented Vegetables/Seeds
- Fortified Dairy Alternatives
- Fortified Fruit Juices
- Isolates
- Others
- by End User :
- Adults
- Infants
- by Sales Channel :
- Online Sales of Plant-based Probiotics
- Brand Websites
- e-Commerce Platforms
- Offline Sales of Plant-based Probiotics
- Pharmacies
- Specialty Stores
- Supermarkets/Hypermarkets
- Online Sales of Plant-based Probiotics
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