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Plant-based Probiotics Market

Plant-based Probiotics Market

Plant Based Probiotics Market Analysis By Product Type (Fermented Vegetables/Seeds, Fortified Dairy Alternatives, Fortified Fruit Juices, Isolates & Others) By End-User (Adults & Infants) By Sales Channel (Online & Offline) and By Region – Global Market Insights 2022 to 2032

Plant-based Probiotics Market
FACT6285MR
  • Jul-2022
  • List of Tables : 64
  • List of Figures : 111
  • 170 Pages
  • Food & Beverage

Plant-based Probiotics Market Outlook (2022-2032)

The global plant-based probiotics market is set to reach a valuation of US$ 890.1 million in 2022 and surge ahead at a CAGR of 6.7% to cross a market size of US$ 1.7 billion by the end of 2032.

Sales of plant-based probiotics across the world accounted for around 1% of the global probiotics market at the end of 2021.

Report Attributes

Details

Plant-based Probiotics market Size (2021A)

US$ 841.1 Million

Estimated Market Value (2022E)

US$ 890.1 Million

Forecasted Market Value (2032F)

US$ 1.7 Billion

Global Market Growth Rate (2022-2032)

6.7% CAGR

North America Market Share (2021)

~ 17.4%

East Asia Market Growth Rate (2022-2032)

~6.8% CAGR

United States Market Growth Rate (2022-2032)

~6.0% CAGR

Market Share of Top 5 Companies

~23.6%

Key Companies Profiled

  • Yakult
  • Lallemand Inc.
  • Kerry Group Plc.
  • DuPont
  • Nature’s Bounty
  • BioGaia
  • Bio K+
  • A&B Ingredients
  • Wellbeing Nutrition
  • Naturelo
  • PlantFusion
  • Custom Probiotics Inc

Interested to Procure The Data

Sales Analysis of Plant-based Probiotics (2017-2021) Vs. Market Forecasts (2022-2032)

Plant-based probiotics are one type of beneficial bacteria for human health. They maintain a prominent position in the market due to the various health advantages that they provide to humans over other synthetic supplements.

The inclusion of flavors improves the sensory properties of these plant-based probiotic products. Effort towards reducing the side effects due to the consumption of antibiotics has guided the development of plant-based probiotics with increased efficiency.

Consumption of plant-based probiotics increased at a compound annual growth rate of 5.1% from 2017 to 2021.

Awareness among consumers due to present hectic lifestyles is on the rise about various factors such as the health benefits of incorporating plant-based diets, rising animal cruelty, etc. Easy availability of information about these on the Internet will contribute favorably to the rising awareness of plant-based probiotics over the coming years.

Growth of the elderly population also plays a major role in developing plant-based probiotic products with less associated risks, which will also accelerate the growth in the market. Fact.MR suggests that the global plant-based probiotics market will reach a valuation of US$ 1.7 billion by 2032 expanding at a CAGR of 6.7 %.

  • Short Term (2022 Q2 to 2025): Plant-based probiotics provide great benefits to the body such as enhancement of gut health and minimizing intestinal inflammation, which also helps in preventing the occurrence of various chronic diseases. This will drive short-term market expansion.
  • Medium Term (2025-2028): The market for plant-based probiotics will be driven by the rise in awareness about health brought on by factors such as increased disposable income and improved quality of life. Increased consumer spending and helpful manufacturing activities, which have fueled the food and beverage industry's steady expansion, are anticipated to have a beneficial impact on market expansion in the medium term.
  • Long Term (2028-2032): Investments by key market participants in R&D activities to develop efficient plant-based probiotics will elevate market growth in the long term.

Over the 2017-2021 historical period, the global plant-based probiotics market registered a CAGR of 5.1%, and as per detailed industry analysis by Fact.MR, a market research and competitive intelligence provider, the market is projected to enjoy growth at 6.7% CAGR between 2022 and 2032.

Plant-based probiotics market forecast by Fact.MR

Market share analysis of plant-based probiotics based on product type and region is provided in a nutshell in the above image. Under the product type segment, fortified fruit juices dominate the market with 33.4% share.

Why is the Popularity of Plant-based Probiotics Increasing Rapidly?

“Use of Plant-based Probiotics for Combating COVID-19”

The COVID-19 pandemic's emergence has so far been favorable for the market for plant-based probiotics. Demand and manufacturing of probiotics have escalated as a result of the terrible effects that the pandemic has had on people's health and wellness.

A study conducted in China confirmed that COVID-19 infections affected the balance of natural microbiota in the human intestine, which could be balanced with the intake of probiotics. They have several health advantages, including bettering gut health, lowering acidity, maintaining body weight, and enhancing immunity.

Therefore, many people are including probiotics in their diets to safeguard the body against the invasion of coronavirus.

“Dramatic Growth in Geriatric Population Consuming Plant-based Probiotics”

According to The National Institute of Aging (NIA), the world’s population is growing at an unprecedented rate. Almost 8.5% of the people are aged 65 and over. This percentage is estimated to increase to nearly 17% of the world’s population by 2050.

Various public health challenges and chronic diseases are associated with this elderly population due to the natural effects of ageing and increased antibiotic use. Several studies have concluded that the intake of plant-based probiotics is beneficial to elderly adults who suffer from the three commonly seen problems - undernourishment, constipation, and reduced efficiency of the immune system that leads to a reduced capacity to resist infection.

These health issues can be treated with the proper intake of plant-based probiotics.

An Adaptive Approach to Modern-day Research Needs

What Do Plant-based Probiotics Producers Need to Watch Out For?

“Exorbitant Rates of Plant-based Probiotics Making Them Unaffordable for Many Consumers”

Plant-based probiotics are developed and produced as per international food regulations. Expensive machinery being involved and high cost of hiring professionally trained staff in the production of probiotics act as hindrances in the manufacturing process.

The cost of production also increases due to expensive strains being involved, lengthy fermentation period, high quantities of raw material needed per product, etc. Providing a fusion of unique ingredients and flavors while delivering complete plant-based nourishment needs a lot of investments in the manufacturing process.

The high cost of production has also affected the final price of the product, which acts as a restraining factor for market growth.

Country-wise Insights

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.

  • For example, Nature’s Bounty supplies consumers with 'probiotic gummies' consisting of a special probiotic strain that is naturally found in the intestinal microbiome and is made with natural flavors. This provides customers with friendly bacteria for their digestive system along with a desirable taste.

Why is the Plant-based Probiotics Market Highly Lucrative in China & Japan?

Strong demand for plant-based probiotics from neighboring countries such as India and Australia is contributing to market growth in China and Japan. Rising population, coupled with increasing disposable income is also expected to cater to regional market growth.

Advancements in manufacturing processes by key players are anticipated to boost the market in these nations. The China and Japan markets for plant-based probiotics are expected to expand at high CAGRs of 6.5% and 7.4%, respectively, between 2022 and 2032.

Category-wise Insights

Where are Plant-based Probiotics Most Widely Utilized?

Plant-based probiotics, under product type, are segmented into fermented vegetables/seeds, fortified dairy alternatives, fortified fruit juices, isolates, and others.

Amongst them, fortified fruit juices are one of the most preferred probiotics among sports enthusiasts and health-conscious consumers. Fortified fruit juices are expected to account for more than one-third of global plant-based probiotic sales in 2022 and extend their dominance over the forecast period with the segment expanding at a rapid CAGR of 8.3% through 2032.

Several health benefits offered by fortified fruit juices are the main reason for their increased consumption.

For instance, kombucha, a fermented tea, is a nutritional powerhouse with polyphenols that lower the risk of certain malignancies and antioxidants that safeguard liver health. Additionally, this beverage slows down the absorption of carbs and controls blood sugar, benefiting in the treatment of diabetes and renal disease.

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Competitive Landscape

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.

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.

Fact.MR has provided detailed information about the price points of key manufacturers of Plant-based Probiotics positioned across regions, sales growth, production capacity, and speculative technological expansion, in the recently published report.

Segmentation of Plant-based Probiotics Industry Research

  • Plant-based Probiotics Market by Product Type :

    • Fermented Vegetables/Seeds
    • Fortified Dairy Alternatives
    • Fortified Fruit Juices
    • Isolates
    • Others
  • Plant-based Probiotics Market by End User :

    • Adults
    • Infants
  • Plant-based Probiotics Market 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
  • Plant-based Probiotics Market by Region :

    • North America
    • Latin America
    • Europe
    • East Asia
    • South Asia & ASEAN
    • Oceania
    • MEA

- FAQs -

The global plant-based probiotics market is valued at US$ 890.1 million in 2022.
Worldwide demand for plant-based probiotics is anticipated to increase at 6.7% CAGR and reach US$ 1.7 billion by 2032.
During 2017-2021, sales of plant-based probiotics increased at 5.1% CAGR.
Europe leads the global market accounting for 25.2% market share in 2022.
Fermented vegetables/seeds use case accounts for 31.5% share of the global market.

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