Report : North America Probiotic Ingredients Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Type (Lactobacillus, Bifidobacterium, and Others) and Application (Functional Food & Beverages, Pharmaceuticals & Nutraceuticals, Animal Feeds, and Others)
At 7.9% CAGR, the North America Probiotic Ingredients Market is speculated to be worth US$ 1,723.00 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the North America probiotic ingredients market was valued at US$ 1,090.05 million in 2022 and is expected to reach US$ 1,723.00 million by 2028, registering an annual growth rate of 7.9% from 2022 to 2028. Increasing consumer focus on preventive health and rising demand for probiotic-fortified food & beverages.
Over the past few years, the awareness regarding health and nutrition has increased significantly. Because of hectic work schedules and extended working hours, people cannot concentrate on their daily diet, health, and fitness, thereby leading to various health issues such as obesity, diabetes, and digestive problems. Therefore, people increasingly focus on preventive health and prefer dietary supplements that offer enhanced health benefits without harmful effects. They support healthy body systems from mouth to gut and help control harmful microorganisms. These supplements often contain mixed cultures of live microorganisms rather than single strains and help improve digestive and immune health. The demand for probiotic-infused dietary supplements has also increased significantly in recent years due to the rising population of health-conscious people and the prevalence of digestive diseases. For instance, according to the Centre for Disease Control and Prevention, 37.2 million people in the US visited physician offices with digestive system diseases as the primary diagnosis in 2018. Thus, people are getting more aware of digestive health and prefer to consume probiotic-infused products. A healthy digestive system has been linked to mental health and immune response improvements. These dietary supplements improve digestion and nutrient absorption. Probiotics reduce digestive issues such as constipation, inflammatory bowel disease (IBD), and irritable bowel syndrome (IBS). This is expected to drive the market during the forecast period.
On the contrary, regulatory issues hurdles the growth of North America probiotic ingredients market.
Based on type, the North America probiotic ingredients market is divided into lactobacillus, Bifidobacterium, and others. The lactobacillus probiotic ingredients segment held 58.9% market share in 2022, amassing US$ 641.55 million. It is projected to garner US$ 997.97 million by 2028 to expand at 7.6% CAGR during 2022–2028.
Based on application type, the North America probiotic ingredients market is categorized into functional food & beverages, pharmaceuticals & nutraceuticals, animal feed, and others. The functional food & beverages segment held 62.8% market share in 2022, amassing US$ 684.38 million. It is projected to garner US$ 1,066.13 million by 2028 to expand at 7.7% CAGR during 2022–2028.
Based on country, the North America probiotic ingredients market has been categorized into the US, Canada, and Mexico. Our regional analysis states that US captured 80.0% market share in 2022. It was assessed at US$ 871.59 million in 2022 and is likely to hit US$ 1,336.95 million by 2028, exhibiting a CAGR of 7.4% during the forecast period.
Key players dominating the North America probiotic ingredients market are ADM; Novozymes A/S; Chr. Hansen Holding A/S; Kerry Group plc; Lallemand Inc; IFF Nutrition & Biosciences; AngelYeast Co., Ltd; Probiotical S.p.A; Adisseo; and Probi among others.
- In Nov 2021, ADM completes acquisition of Deerland Probiotics & Enzymes.
- In Nov 2021, Novozymes A/S strengthens and accelerates its BioHealth-business by acquiring a majority stake in Synergia Life Sciences.
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