NEWARK, Del, Nov. 02, 2023 (GLOBE NEWSWIRE) -- The synbiotic product market size is valued at US$ 638.2 million in 2023. The 2022 valuation was US$ 598.2 million. The market is expected to progress at a significant CAGR of 7.5% from 2023 to 2033. The market size is estimated to be US$ 1,116.9 million by 2033.
Bad gut bacteria are linked with several health problems, from minor ones like fatigue and skin irritation to serious ones like arthritis and sclerosis. The number of people suffering from bad gut bacteria is also rising. Thus, a spotlight is thrown on gut health. Synbiotic products help cleanse the guts of harmful bacteria and are thus seeing an uptick in demand.
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Consumers are becoming knowledgeable about body health, including gut health. Thus, there is a greater appetite among consumers for healthy eating. By means of functional food & beverages, synbiotics are becoming a part of the diet of consumers. Thus, the body health drive is positively impacting the synbiotic product market.
People are turning to dietary supplements for nutrients. Although functional food & beverages are still the most common way of consuming synbiotics, supplements are a fast-growing segment, too. The positive turn towards dietary supplements is thus also aiding the synbiotic product market.
“Among the people most at risk of gut-related problems are mothers and children. Producers in the synbiotic product market are taking the opportunity to craft products aimed at infants and mothers. Some players are also developing synbiotic product portfolios for pets as a part of pet care. Thus, there are opportunities in the market beyond the traditional consumer base for synbiotic products, Nandini Roy Choudhury, Client Partner at Future Market Insights.“
Key Takeaways from the Synbiotic Product Market:
- The synbiotic product market is valued at US$ 638.2 million in 2023.
- Functional food & beverages lead the way in the product type segment. In 2023, functional food & beverages account for 58.6% of the market share by product type.
- Powder is the most popular of the forms taken by synbiotic products. In 2023, the powder segment holds 38.4% of the market share by form.
- Japan is poised for rapid progress in the synbiotic product market. For the forecast period from 2023 to 2033, the CAGR of the Japanese market is expected to be 7.0%.
- China holds potential for the synbiotic product market. The CAGR for the China market is estimated to be 5.4% over the forecast period.
- The CAGR of the market in Germany over the forecast period is marked to be 4.3%.
Competition Analysis of the Synbiotic Product Market:
The market is highly fragmented, with plenty of room for local players to compete with giants. Technology and marketing are two prime focus areas for players in the market. Some prominent companies in the market include Daflorn Ltd., DANONE, Sabinsa Corporation, and Yakult S/A.
Recent Developments in the Synbiotic Product Market:
- In October 2023, a partnership between Clasado Biosciences and Probi AB was announced. The partnership had already developed two synbiotic combinations.
- In July 2023, the Almimama supplement was launched by Danone to fight against the risk of mastitis.
- In June 2023, ADM invested in Brightseed. ADM hopes to leverage the AI capabilities of Brightseed to improve the development of synbiotic products.
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Key Segments in the Synbiotic Product Market:
By Product Type:
- Functional Food & Beverages
- Dietary Supplements
- Others
By Form:
- Powder
- Liquid
- Capsule
- Others
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East and Africa (MEA)
Author by:
Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.) has 7+ years of management consulting experience. She advises industry leaders and explores off-the-eye opportunities and challenges. She puts processes and operating models in place to support their business objectives.
She has exceptional analytical skills and often brings thought leadership to the table.
Nandini has vast functional expertise in key niches, including but not limited to food ingredients, nutrition & health solutions, animal nutrition, and marine nutrients. She is also well-versed in the pharmaceuticals, biotechnology, retail, and chemical sectors, where she advises market participants to develop methodologies and strategies that deliver results.
Her core expertise lies in corporate growth strategy, sales and marketing effectiveness, acquisitions and post-merger integration and cost reduction. Nandini has an MBA in Finance from MIT School of Business. She also holds a Bachelor’s Degree in Electrical Engineering from Nagpur University, India.
Nandini has authored several publications, and quoted in journals including Beverage Industry, Bloomberg, and Wine Industry Advisor.
Old Source: Synbiotic products market size Worth US$ 1.2 Billion by 2032 at 7.5% CAGR - Report by Future Market Insights, Inc.
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