Plant Based Probiotic Market Forecast and CAGR
According to latest research by Fact.MR, plant based probiotic market is set to witness steady growth during 2021-2031. Demand for plant based probiotic will witness steady recovery in short-term, with optimistic growth outlook in the long-run. Surging concern towards health care and growing fitness industry will provide momentum to the market and business shall surpass net valuation of US$ 70 Bn by 2031.
What is Driving Demand for Plant Based Probiotic?
The good bacteria or friendly bacteria are known as probiotics and they are present in our stomach. Their function is to keep guts and immune system in healthy condition. The product has been very beneficiary in the treatment for the people who are suffering from Irritable Bowel Syndrome (IBS). Similarly, these are useful in the treatment of diarrhea. There have been few research and from there it is likely evident that they are effective for few skin conditions such as eczema.
Traditionally the most common source of probiotics has been the dairy products which can be referred as lactobacillus like yogurt, cheese, milk and kefir. But these are not preferred by lactose intolerant and people who don’t consume dairy products. Vegan or plant based probiotics are best non-dairy option available in the sales channel such as kombucha, coconut kefir, coconut yogurt, miso, sour pickles, olives etc. These vegan cooked, fermented or supplement blends aid in surviving stomach acid and heat release during digestions.
These bacteria can be found in daily used plant based food like salad, yet there has been surge in research to increase it efficacy. Over the past decade the product has gain popularity because of its ability to prevent or treat various gastrointestinal diseases.
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Geographical Outlook of Global Plant Based Probiotic Market
North America, Latin America, Europe, East Asia, South East Asia & Oceania, and MEA are the six main regions covered by the plant-based probiotic industry. North America and Europe are two possibly influential regions among them. USA’s leap in pharmaceuticals and chemical industry is catering the product business. Similarly European Union is one of the biggest exporter of pharmaceutical products which is evident of its potential growth in the region. Growing concern towards health care is fostering in the region which will further propel the demand.
Because of its superior manufacturing capabilities, Asia Pacific is projected to expand northward. China and India are establishing themselves as pharmaceutical manufacturing hubs, indicating a promising future. On similar grounds, over the past few years the region has experienced surge in fitness and nutrition industry, this development is likely to increase the sales momentum over forecasted period.
On other hand, better disposable income of Middle East population is expected to add positive outlook in the market. Though African region is likely to grow marginally because of its slow development in the region.
COVID-19 Impact Outlook for Plant Based Probiotic Market
People were trapped inside their homes due to the global Covid-19 pandemic lockdown, which limited population movement. Many industries have been hit hard by this growth, but the plant-based probiotics market is expected to grow.
Since the product was under essential items and the pharmaceutical shops were allowed to open, consumers had the access to the product. Pandemic raised the health concern alarm amongst people which resulted in raised self-awareness about benefits of probiotics and increased the product demand. This trend is expected to continue aftermath pandemic lockdown
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Health Benefits Outlook for Plant Based Probiotic Market
Research on the benefits of the product is going on and there has been discoveries that the different strains of the bacteria have different effects on the body. The product has potential health benefits which are fostering its sales cycle.
Probiotics helps in breakdown of food and aid in fast digestion. It helps in reducing constipation and symptoms of irritable bowel syndrome and crohn’s disease. Various study has mentioned that they help in reducing risk of cancer and inflammatory bowel disease. For women’s, spermicides, birth control pills and antibiotics leads to imbalance in their vaginal tract which results in infection. Probiotics helps in controlling this balance and vaginal health.
In addition the product has been proved effective for better mental health, reduced risk of metabolic diseases and managing diabetes. Awareness regarding the benefits is fueling its growth potential.
Who are the Key Manufacturers and Suppliers of Plant Based Probiotic?
Some of the leading manufacturers and suppliers of Plant Based Probiotic include
- Nature's Bounty
- Lallemand Inc.
- LoveBug Probiotics.
- Custom Probiotics Inc.
- Nature Made
- Wellbeing Nutrition.
In almost every country, the market for plant-based probiotics is highly fragmented. To stay afloat in this competitive environment, manufacturers are diversifying their product offerings and concentrating on providing healthy, personalized probiotic supplements that are simple to consume.
On the other hand, manufacturers are embracing the emerging online sales and distribution network in order to achieve a wider scope and greater consumer penetration. This has expanded the market for plant-based probiotics.
An Adaptive Approach to Modern-day Research Needs
Plant Based Probiotic Market Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company
By Source of Enzyme
By Product Type
- Soy Milk
- Coconut Kefir
- Cocunut Yogurt
- Sour Pickles
By Sales Channel
- Modern Trade
- Franchised Outlets
- Specialty Store
- Online Channel
By End Use Industry
- Food & Beverages
- Nutrition Industry
- Health Care
- North America
- US & Canada
- Latin America
- Brazil, Mexico, Others
- Western Europe
- Eastern Europe
- Asia Pacific
- Australia and New Zealand (ANZ)
- Greater China
- Rest of Asia Pacific
- Middle East and Africa
- GCC Countries
- Other Middle East
- North Africa
- South Africa
- Other Africa
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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