Newark, June 17, 2024 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 0.94 Billion Synbiotic Product market will reach USD 2.33 Billion by 2033. Increasing demand of the Synbiotic Product in the Food & Beverages Industry and technological advancements in Synbiotic Product may fuel the growth of the Synbiotic Product Market. An increased demand for Synbiotic Products and consumer investing in various products thereby willing to pay the premium prices towards the same is one major factor that may propel the growth of the Synbiotic Products Market in the period forecasted.
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Synbiotic Product Market Size by Product (Functional Food & Beverages, Dietary Supplements, Others), Distribution Channel (Online, Offline), Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2024 to 2033
Europe emerged as the largest global Synbiotic Product market, accounting for 43% of the total market. Owing to increasing awareness regarding Synbiotic Products. Whereas Asia Pacific exhibits the highest growth rate in the market owing to rapidly growing use of probiotics and prebiotics in the region.
In 2023, functional foods and beverages took the lead in the synbiotic product market, capturing a substantial 45% market share.
In 2023, functional foods and beverages took the lead in the synbiotic product market, capturing a substantial 45% market share. Owing to increased awareness towards raising immunity, cardiovascular, and digestive health. Dietary supplements are expected to witness the fastest growth owing to increased consumer awareness and various marketing campaigns to promote synbiotic-based dietary supplements.
The offline distribution channel, dominated the synbiotic product market in 2023 with a market share of 57%.
The offline distribution channel, dominated the synbiotic product market in 2023 with a market share of 57%. Owing to increased visibility of products in physical stores. Online channel is expected to witness rapid growth, owing to increasing usage of internet platforms and e-commerce by GenZ, GenX and Millennial generations.
Latest Development:
• In February 2022, Sabinsa revealed a 'CurCousin'. The main objective behind this launch was to promote metabolism rate and regulate the blood sugar levels.
• In August 2021, Sabinsa established two satellite offices in Spain and the United Kingdom (U.K.). The main objective behind this launch was to strengthen presence in Europe and the U.K, coupled with increasing its goodwill and providing the customers with the ultimate solution in the market.
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Market Dynamics
Drivers: Rapidly growing demand for healthier lifestyle in the global market
One of the major factors that boosts the growth of the Synbiotic Product in the market is rapidly growing demand for healthier lifestyle in the global market. With rising awareness towards health and increasing intake of functional fods and beverages. The market witnesses an upsurge in the period forecasted. Additionally, a significant inclination towards healthier lifestyle and change in the eating patterns have also played a pivotal role in the market.
Restraints: Lack of raw-materials in the Synbiotic Products in the market
High manufacturing expenses present a significant barrier to the growth of the synbiotics market. Producers face constraints in production capacity due to shortages of raw materials and labor. thereby posing a restraining factor in the Synbiotic Product Market.
Opportunities: Increasing demand of the Synbiotic Product in the Food & Beverages Industry
An increased demand for Synbiotic Products and consumer investing in various products thereby willing to pay the premium prices towards the same is one major factor that may propel the growth of the Synbiotic Products Market in the period forecasted.
Challenge: Heavy dosage of Synbiotics posing a challenge to the Synbiotic Product Market
Consuming excessive amounts of synbiotics can result in adverse effects like bloating, gas, diarrhea, and abdominal discomfort. These unpleasant side effects may discourage consumers from using synbiotic products or cause them to stop using them altogether, impacting market demand. Moreover, elevated doses of synbiotics may provoke safety and efficacy concerns among consumers. Some individuals may view such high dosages as unnecessary or potentially harmful, fostering skepticism or hesitancy towards purchasing synbiotic products.
Report Scope
| Base Year | 2023 |
| Forecast period | 2024-2033 |
| Report Coverage | Revenue estimation and forecast, company profile, competitive landscape, growth factors, and recent trends |
| Regional scope | Asia Pacific, Europe, South America, North America, and Middle East & Africa |
| Market Size(unit) | USD 2.33 Billion |
| Data Warehousing Market CAGR | 9.5% |
| Segments Covered | Product, Distribution Channel |
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Some of the major players operating in the Synbiotic Product market are:
• DuPont de Nemours Inc
• Chr. Hansen Holding A/S
• BioGaia AB
• Kerry Group plc
• Lallemand Inc
• Danone S.A.
• Yakult Honsha Co Ltd
• Probi AB
• UAS Laboratories LLC
• Ganeden Inc
Key Segments cover in the market:
By Product:
• Functional Food & Beverages
• Dietary Supplements
• Others
By Distribution Channel:
• Online
• Offline
About the report:
The global Synbiotic Product market is analysed based on value (USD Billion). All the segments have been analysed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes Porter's five forces model, attractiveness analysis, raw material analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirements whether they are looking to expand or planning to launch a new product in the global market.
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