Dublin, July 31, 2023 (GLOBE NEWSWIRE) -- The "Europe Probiotics Market - Industry Outlook & Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.
The Europe probiotics market is on an impressive growth trajectory, projected to soar to a value of $18.76 billion by 2028 from $12.4 billion in 2022, representing a robust CAGR of 7.1%
Among the European countries, the EU-5 region stands out as the leading market for probiotics due to the presence of major players such as Germany, France, the U.K., Italy, and Spain, driving high demand. The region's substantial population plays a significant role in the increasing consumption of probiotics-based products.
Moreover, the Covid-19 pandemic has further fueled the demand for probiotics, as health-conscious consumers turn to nutritional products to bolster their immune systems. With a focus on health benefits, many individuals seek out probiotics-based food, beverages, and dietary supplements.
In this competitive landscape, key players like Nestle, Probi, Yakult, Danone, and ADM offer an extensive array of probiotics-based products. As various diseases, including cancer, obesity, diabetes, and others, rise in Europe, there is a parallel surge in R&D investment to develop innovative probiotics-based solutions, intensifying the competition among industry players.
MARKET TRENDS & DRIVERS
Usage of Probiotics as Adjuvants and Advancement in Pharmaceutical Applications of Probiotics
Probiotics are used as an adjuvant in various industries to improve their stability and quality. Probiotics are used in cancer therapy, allergic disease treatment, and vaccines as an adjuvant. Moreover, probiotics can also be used as adjuvants in health supplements that are used to improve the health of infants and adults.
Further, they have various applications in the pharmaceutical industry for treating diseases such as cancers, neurodegenerative disorders, and inflammatory diseases. The government & non-government organizations and research institutes are focusing on finding the mechanism in various applications. Such factors are projected to support the growth of the Europe probiotics market.
Rise in Health-Conscious Consumer Group and Awareness of Health Benefits Associated with Probiotics
Due to rising various diseases, health consciousness is increasing in European countries. After the Covid-19 pandemic, people prefer nutritional-based food products for improving the immune system.
Disturbed gut health causes many health disorders; thus, the awareness about the health benefits of probiotics is increasing for improving gut health. Many people ask for high nutritional value such as vitamins, proteins, probiotics-based food, beverages, and dietary supplements.
Vendors' Increasing Focus on Developing Non-Dairy-Based Probiotics
Most of the probiotics are made up of dairy products. But due to increasing consumer vegetarianism in European countries, the European probiotics market vendors are manufacturing non-dairy-based probiotics. Around 75% of the world's population has lactose intolerance.
The demand for non-dairy probiotics is increasing due to lactose intolerance customers and increasing interest among vegetarians, as per the National Institute of Diabetes and Digestive and Kidney Diseases (NIDDK) of the US. Developing non-dairy probiotics is challenging due to maintaining the quality and health benefits of dairy-based probiotics.
SEGMENTATION INSIGHTS
The functional food & beverages product segment accounted for a high share of the Europe probiotics market, accounting for over 82% in 2022. Milk and milk-based products are good carriers of probiotic strains because of their properties; thus, most milk and milk products must be stored at refrigerated temperatures. These dairy-based products are suitable to retain probiotics' properties, which helps support their growth and viability.
The European probiotics market is segmented into bacteria and yeast, and in 2022, the bacteria segment dominated the industry. Lactobacillus acidophilus and bifidobacteria species are the main strains used in dairy-based probiotics. These strains are regularly added to fermented dairy foods like yogurt because of their proven functional benefits to gastrointestinal health.
The Europe probiotics market by age group is segmented into pediatric and adults. Probiotics-based products improve gut health and other health-related issues in pediatrics and adults. Obesity and overweight issues are increasing in pediatrics, where diabetes, cancer, allergy, gastrointestinal issues, and other disorders are increasing in European countries. The use of probiotics-based products is higher in adults, and the awareness among the adult population is expected to drive the industry's growth.
The supermarkets and hypermarkets segment accounted for a higher industry share. The expansion of supermarkets and hypermarkets is the major reason to increase the demand for probiotics in the European markets. Further, online buyers have increased in the last few years due to the growing e-commerce platform and changing buying patterns.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 244 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value (USD) in 2022 | $12.4 Billion |
| Forecasted Market Value (USD) by 2028 | $18.76 Billion |
| Compound Annual Growth Rate | 7.1% |
| Regions Covered | Europe |
Market Dynamics
Market Opportunities & Trends
- Usage of Probiotics as Adjuvants
- Advances in Pharmaceutical Applications of Probiotics
- Increase in Focus of Vendors on Developing Non-Dairy-Based Probiotics
- Rapid Growth of E-Commerce
Market Growth Enablers
- High Consumption of Dairy-Based Probiotics
- Rise in Health-Conscious Consumer Groups & Awareness of Health Benefits Associated With Probiotics
- Increase in Acceptance of Probiotic-Based Dietary Supplements
Market Restraints
- Challenges Associated With Viability & Storage of Probiotic Products
- Ambiguous Regulations for Probiotics
- Need for Scientific & Clinical Evidence on Probiotics
Key Company Profiles
- NESTLE
- Probi
- Danone
- ADM
- Yakult Honsha Co., Ltd
Other Prominent Vendors
- International Flavours & Fragrances Inc.
- General Mills
- BioGaia
- AB-Biotics
- Cultech
- Sacco System
- Winclove Probiotics
- PepsiCo
- Morinaga Milk Industry Co., Ltd.
- AllergoSan USA, LLC
- PanTheryx
- Sanofi
- Wren Laboratories
- Novozymes
- Teva Pharmaceutical Industries Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/p46r2i
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