by Next generation probiotics are live microorganisms that provide significant health benefits to the host when consumed in adequate amounts. They help maintain and improve gut health, boost immunity and aid in digestion.
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 key trends:
With rising health consciousness among consumers, the demand for next generation probiotics is increasing significantly. People are increasingly choosing products containing probiotics for maintaining gut health as it promotes overall well-being. Manufacturers are introducing innovative probiotic formulations with new strains that can better survive the gut conditions and deliver enhanced health outcomes. Advancements in microbiome therapeutics and introduction of synergistic blends of probiotics are some key trends propelling the next generation probiotics market growth over the forecast period.
SWOT Analysis
Strength: Next Generation Probiotics have more targeted functional properties and health-promoting characteristics compared to traditional probiotics. They are able to colonize, survive and deliver beneficial functions in the gut.
Weakness: High production costs associated with next generation probiotics limit their use in mass consumer products. Clinical trials data is limited for their long term health effects.
Opportunity: Growing consumer awareness about preventive healthcare and gut health offers opportunities for next generation probiotic producers. The elderly population is increasing globally creating demand for products supporting digestion and immunity.
Threats: Traditional probiotic producers can leverage existing brand positions to develop next generation strains, posing competition. Stringent regulations associated with health claims of probiotics vary globally posing market access challenges.
Key Takeaways
The Global Next Generation Probiotics Market Size is expected to witness high growth over the forecast period of 2023 to 2030 supported by rising consumer awareness about preventive healthcare. The market size is projected to reach US$ 186.93 Mn in 2023 and grow at a CAGR of 5.9% through 2030.
North America currently dominates the market owing to high health consciousness and expanding functional foods and beverages industry in the region. With rising chronic diseases prevalence and gut health focus in China and Japan, Asia Pacific is poised to be the fastest growing regional market during the forecast period.
Key players operating in the next generation probiotics market are Coty, Procter & Gamble Prestige, L’Oreal, LVMH, Givaudan, International Flavors & Fragrances, Estee Lauder Beautiful, Kilian, Firmenich, Symrise. These companies are investing in clinical research to develop novel next generation probiotic strains with superior health characteristics. They are also exploring strategies like acquisitions and joint ventures for new product development and geographic expansion.
Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
