Increased usage of probiotic-containing functional and dietary supplements is likely to drive market expansion. Yogurt products are in high demand, and manufacturers are constantly developing new products, fuelling the market expansion of probiotics. Growth in the food and beverage sector as a result of rising consumer expenditure and positive government backing is projected to be a significant driver of probiotic market growth. The recent fast growth in demand for nutrition food items, along with supply chain interruptions caused by the Coronavirus (Covid-19) Pandemic, has resulted in an inability to sustain levels. The probiotics industry's lack of suitable regulations is predicted to stymie global expansion. Furthermore, because probiotics are very sensitive organisms that can rapidly be weakened by many environmental variables, they require careful storage. Furthermore, most probiotics are unstable at room temperature. All of these reasons are impeding market expansion. The lack of understanding about the health advantages of probiotics among developing-region consumers is likely to stifle the expansion of the probiotics industry.
According to Coherent Market Insights, Global Probiotics Market was valued at US$ 54.9 Billion in 2021 in terms of revenue, exhibiting a CAGR of 6.9% during the forecast period (2022 to 2030).
Key Competitors in the Probiotics Industry:
1. BioGaia AB
BioGaia AB (publ) develops, markets, and sells probiotic products with documented health benefits worldwide. It operates through Pediatrics, Adult Health, and other segments. The Pediatrics segment offers drops, oral rehydration solutions, and gut health tablets, as well as cultures that are used as an ingredient in infant formula. BioGaia AB (publ) was founded in 1990 and is headquartered in Stockholm, Sweden. In December 2021, BioGaia AB (publ) has, through its US subsidiary BioGaia Biologics Inc, signed an agreement to acquire all shares in Nutraceutics Corporation (” Nutraceutics”). Nutraceutics holds all shares in Everidis Inc (“Everidis”), which is BioGaia´s exclusive distributor of BioGaia branded products in the US.
2. Chr. Hansen
Chr. Hansen Holding A/S, a bioscience company, develops natural ingredient solutions for the food, nutritional, pharmaceutical, and agricultural industries in Europe, the Middle East, Africa, North America, Latin America, and the Asia Pacific. The company operates through Food Cultures & Enzymes, and Health & Nutrition segments. The company was founded in 1843 and is headquartered in Hørsholm, Denmark. In April 2020, Chr. Hansen acquired HSO Health Care to grow probiotics offering for women’s health. In June 2022: Danone launched the new drinkable yogurt Activa+. Activa+ is a multi-benefit drinkable yogurt made with active probiotic vitamins A, D, and zinc. The product is available in different flavors like raspberry, peach, and strawberry.
3. Nestle S.A.
Nestlé S.A., together with its subsidiaries, operates as a food and beverage company. The company operates through Zone Europe, Middle East and North Africa; Zone Americas; and Zone Asia, Oceania and sub-Saharan Africa segments. The company was founded in 1866 and is headquartered in Vevey, Switzerland.
4. PROBI AB
In July 2021, Probi acquires newly issued shares in New Zealand's Blis Technologies and enters into a strategic partnership. Probi AB (publ) researches, manufactures, and sells probiotics for dietary supplements and food companies. The company conducts research primarily in the fields of gastrointestinal health, digestive health, immune health, bone health, and iron absorption, as well as children's, women's, and senior health. The company was incorporated in 1991 and is headquartered in Lund, Sweden. Probi AB (publ) is a subsidiary of Symrise AG.
5. Lifeway Foods, Inc.
Lifeway Foods, Inc. produces and markets probiotic-based products in the United States and internationally. Its primary product is drinkable kefir, a cultured dairy product in various organic and non-organic sizes, flavors, and types, including low fat, non-fat, whole milk, protein, and BioKefir. In August 2021, Lifeway Foods, Inc. announced the intent to acquire certain assets of privately-held, California-based GlenOaks Farms, Inc., a respected and pioneering drinkable yogurt brand founded in 1984.
6. Mother Dairy
Mother Dairy was commissioned in 1974 as a wholly owned subsidiary of the National Dairy Development Board (NDDB). The company is based in Noida, India. In March 2022, Dairy manufacturer, Mother Dairy has rolled out a new digital campaign – Nutrifit Your Family- for its dairy based probiotic portfolio ‘NutriFit’.
7. General Mills, Inc.
General Mills, Inc. manufactures and markets branded consumer foods worldwide. The company operates in five segments: North America Retail; Convenience Stores & Foodservice; Europe & Australia; Asia & Latin America; and Pet. The company operates 466 leased and 392 franchise ice cream parlors. General Mills, Inc. was founded in 1866 and is headquartered in Minneapolis, Minnesota.
8. Yakult Honsha Co., Ltd.
Yakult Honsha Co.,Ltd. manufactures and sells food and beverage products in Japan, the Americas, Asia, Oceania, and Europe. The company operates through Food and Beverages (Japan), Food and Beverages (The Americas), Food and Beverages (Asia and Oceania), Food and Beverages (Europe), Pharmaceuticals, and others segments. It offers fermented milk drinks, juices, noodles, etc. through its home delivery and retail store channels. The company also provides pharmaceutical products, such as Elplat, an antineoplastic drug, as well as anticancer drugs and other pharmaceuticals. In addition, it offers cosmetics; and operates the Tokyo Yakult Swallows, a professional baseball team. The company was founded in 1935 and is headquartered in Tokyo, Japan.
9. E. I. du Pont de Nemours and Company
On September 2019, DuPont Nutrition & Biosciences today announced its intent to enter into a strategic collaboration with BY-HEALTH, a leading consumer health care company in China. The strategic collaboration would focus generally on research and development of probiotic dietary supplements with “new functions, new ingredients and new technologies,” including joint research on intestinal microecology and the development of new probiotic dietary supplements and applications for use. The company was founded in 1801, E.I. du Pont de Nemours & Co is a diversified chemical company operating in more than 80 countries. Its massive portfolio includes agriculture, feed and nutrition, electronics and communication, construction and transportation, and safety and protection. DuPont has tried to move into more specialized products.
*Definition - Probiotics are helpful microorganisms that enhance the proper functioning of the gastrointestinal tract. They are mostly taken to cure stomach problems
