United States, Rockville MD, July 21, 2022 (GLOBE NEWSWIRE) — According to Fact.MR, a market research and competitive intelligence provider, the global plant-based probiotics market is estimated at US$ 890.1 million in 2022 and is expected to expand at an impressive CAGR of 6.7% during the forecast years of 2022-2032.
Plant-based probiotics are integrated as food supplements in daily food items due to their digestive health benefits such as enhancement of gut health and increasing immune response. Owing to government standards and safety requirements in end-user operations, key manufacturers are focusing on providing high quality and standardized plant-based supplements for consumer safety. Assured product quality and less associated risks will boost the adoption of plant-based probiotics over the coming years.
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Use of plant-based probiotics have increased significantly due to the rising emergence of lactose intolerance among consumers and problems associated with diets rich in cholesterol. Plant-based probiotics play a vital role in providing good bacteria for maintaining health, which is why they are highly demanded by consumers across regions.
Will Customization of Plant-based Probiotics in the U.S. Drive Market Expansion?
The United States plant-based probiotics market is currently estimated at US$ 127 million. The United States possesses one of the world’s most well-established healthcare infrastructure, which has a positive impact on the consumption of plant-based probiotics. A transition in consumers’ desire toward a healthy lifestyle has led to an increase in demand for preventative healthcare, which has motivated manufacturers to develop new functional products such as food with probiotics in various forms.
While health is a major factor why people are switching to plant-based probiotics, many consumers just like the way they taste. Recent research showed that 52% of Americans choose plant-based protein because it just tasted better than any other substitute.
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Key Segments Covered in Plant-based Probiotics Industry Survey
- Plant-based Probiotics Market by Product Type :
- Fermented Vegetables/Seeds
- Fortified Dairy Alternatives
- Fortified Fruit Juices
- Plant-based Probiotics Market by End User :
- Plant-based Probiotics Market by Sales Channel :
- Online Sales of Plant-based Probiotics
- Brand Websites
- e-Commerce Platforms
- Offline Sales of Plant-based Probiotics
- Specialty Stores
- Online Sales of Plant-based Probiotics
Prominent plant-based probiotic manufacturers are Yakult, Kerry Group Plc, DuPont, Lallemand Inc., Nature’s Bounty, BioGaia, Bio K+, A&B Ingredients, Wellbeing Nutrition, Naturelo, PlantFusion, and Custom Probiotics Inc.
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.
- 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.
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Key players in the Plant-based Probiotics Market
- Lallemand Inc.
- Kerry Group Plc.
- Nature’s Bounty
- Bio K+
- A&B Ingredients
Key Takeaways from Plant-based Probiotics Market Study
- The global plant-based probiotics market is projected to expand at an impressive CAGR 6.7% and be valued at over US$ 1.7 billion by 2032.
- The market registered 5.1% CAGR for the period of 2017-2021.
- Under product type, fortified fruit juices dominate the market and are valued at US$ 297.6 million in 2022.
- Europe dominated the global market with 25.3% share in 2021.
- Together, fermented vegetables/seeds and fortified fruit juices are likely to represent 65% market share in 2022.
- Based on region, demand for plant-based probiotics is expected to increase at CAGRs of 5.7% and 6.8%, respectively, in Europe and East Asia.
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