The scope of our recent study, titled "Probiotic Ingredients Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Type and Application," includes the description of factors fueling the market growth, estimation and forecast of revenue, and identification of significant market players and their key developments, along with market share analysis.

The probiotic ingredients market is expected to grow from US$ 3,493.42 million in 2021 to US$ 6,060.51 million by 2028; it is expected to grow at a CAGR of 8.2% from 2022 to 2028.

Probiotics are bacteria and yeast that help humans and animals maintain a healthy microbial balance in their intestines. Probiotics are bacteria that promote the body's digestive juices and enzymes, ensuring appropriate digestion. They can be consumed orally or as a supplement. Probiotics also protect good bacteria from potentially dangerous bacteria. Probiotics are currently being utilized to identify and treat mental issues and digestive and neurological disorders. They also protect proteins and lipids from oxidative damage and eliminate infections in the body.

Based on application, the probiotic ingredients market is segmented into functional food & beverages, pharmaceuticals & nutraceuticals, animal feed, and others. The functional food & beverages segment held a significant market share in 2021; however, the pharmaceuticals & nutraceuticals segment is projected to register the highest CAGR during the forecast period. Consumers increasingly prefer probiotic-based food supplements owing to the growing adoption of unhealthy diets. Probiotic dietary supplements treat medical disorders such as lactose intolerance and help boost the immune system. It also improves digestion and nutrient absorption. Probiotics reduce digestive issues such as constipation, inflammatory bowel disease (IBD), and irritable bowel syndrome (IBS). The rising consumption of dietary supplements is boosting the demand for probiotics in the nutraceuticals industry.

Based on geography, the probiotic ingredients market is primarily segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America (SAM). Asia Pacific accounted for the largest share of the market. The Asia Pacific probiotics industry is rapidly advancing with the rising consumption of pharmaceuticals and nutraceuticals. In Asia Pacific, vitamins and dietary supplements demand increased during the COVID-19 pandemic. For example, people have been focusing on their health since the emergence of the pandemic, and consumers are seeking out immunity-boosting products such as vitamin C or ginseng. These factors are expected to boost the growth of the probiotic ingredients market in the region during the forecast period.

Impact of COVID-19 Pandemic on Probiotic Ingredients Market

During the COVID-19 pandemic, disruptions in manufacturing, research and development activities, and raw material sourcing operations hampered the growth of the probiotic ingredients market in the initial phase of the pandemic. probiotic ingredients market However, due to the rising focus of consumers on health and wellness, the demand for dietary supplements increased dramatically. This factor is expected to favor the demand for probiotics globally over the forecast period.

The report segments the probiotic ingredients market as follows:

The probiotic ingredients market is bifurcated into type and application. Based on type, the probiotic ingredients market is segmented into Lactobacillus, Bifidobacterium, and others. Based on application, the market is segmented into functional food & beverages, pharmaceuticals & nutraceuticals, animal feed, and others. By geography, the market is primarily segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America (SAM).

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