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Report
Synbiotic Products Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
Market Report I 2023-01-23 I 126 Pages I Mordor Intelligence
The global synbiotic products market is projected to grow at a CAGR of 8.2% during the forecast period (2022-2027).
The COVID-19 pandemic had a positive impact on the demand for synbiotic products. The individuals faced many gut problems because of the virus, which increased the demand for prebiotics and probiotics. The post-Covid scenario saw several product innovations catering to the growing consumption of synbiotic products. For instance, in the first quarter of 2020, Asmara launched six synbiotic powders, having antioxidant, immunity, and stress relieving benefits.
Synbiotics products, a combination of prebiotics and probiotics, are a part of functional foods and beverages and are known for improving gut functionality, along with other benefits, including improving mental, digestive, immunity functions & heart health. Furthermore, increased fortification with synbiotics to offer nutritional & health benefits by the leading players in the market has boosted the market's growth.
In addition, apart from the food and beverage sector, the growing demand for synbiotic products from dietary supplements and animal feed sectors is further gearing the global market with growth. However, the market is facing challenges such as high manufacturing costs of synbiotic products that are restraining its market space.
Synbiotic Products Market Trends
Rising Demand For Probiotics And Prebiotics as Functional Food
The rise in health issues of the growing population has increased the demand for functional foods. Therefore, demand, especially for probiotics and prebiotics in available food & beverages, is now witnessed to have significant growth. Research shows that probiotics work best when combined with prebiotics. The pre-pro combo, i.e., two supplements in one dosage form, is an efficient way to provide added benefit to consumers of convenience and paired products, thus boosting its market demand. The synbiotic products are primarily preferred in the form of dietary supplements, commonly delivered in the Licaps capsule-in-a-capsule technology designed for the preferred-time release of the ingredient. The frequent product innovations in the market gear market growth. For instance, in 2021, Unique Times, a Singapore-based brand, launched a new synbiotic product, Premium Probiotic 10. These powders are available in sachet form, which contains the benefits of probiotics, prebiotics, and superfoods.
Europe Dominates the Global Synbiotic Products Market
Europe accounted for the highest share, followed by North America and Asia-Pacific. The increasing awareness about synbiotic products, as a result of the growing demand for functional food and the high visibility of the product, has increased the market's growth. A robust manufacturing base for food & beverage manufacturers coupled with the continuous demand for prebiotics and probiotics in food offers potential opportunities for synbiotic incorporation in different food and beverages. Alongside, European Union emphasizes ensuring clean labeling in case of food with nutrition and health claims. This has led to the use of synbiotic properties in formulating different regional products. The European Food Safety Authority (EPSA) coined QPS (Qualified Presumption of Safety). This concept provides additional criteria for the safety assessment of bacterial supplements, which adds value to applying prebiotics and probiotics in different forms.
Synbiotic Products Market Competitor Analysis
The global synbiotic products market is fragmented and competitive, owing to prominent regional and domestic players in different countries. Emphasis is given to the companies' merger, expansion, acquisition, and partnership and new product development as strategic approaches adopted by the leading companies to boost their brand presence among consumers. Companies like Seed Health, Inc., Sabinsa Corporation, Biomin America Inc., United Naturals, Probiotical S.p.A., and Herbalife Nutrition cater to the changing consumer demand by going for new product innovation.
Additional Benefits:
The market estimate (ME) sheet in Excel format
3 months of analyst support
1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 By Product Type
5.1.1 Food and Beverage
5.1.1.1 Dairy
5.1.1.2 Beverages
5.1.1.3 Infant Foods
5.1.1.4 Others
5.1.2 Dietary Supplements
5.1.3 Animal Feed
5.1.4 Others
5.2 By Distribution Channel
5.2.1 Pharmacies/ Health Stores
5.2.2 Supermarkets/ Hypermarkets
5.2.3 Convenience Stores
5.2.4 Online Retail Stores
5.2.5 Others
5.3 Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.1.3 Mexico
5.3.1.4 Rest of North America
5.3.2 Europe
5.3.2.1 United Kingdom
5.3.2.2 Germany
5.3.2.3 France
5.3.2.4 Russia
5.3.2.5 Italy
5.3.2.6 Spain
5.3.2.7 Rest of Europe
5.3.3 Asia-Pacific
5.3.3.1 India
5.3.3.2 China
5.3.3.3 Japan
5.3.3.4 Australia
5.3.3.5 Rest of Asia-Pacific
5.3.4 South America
5.3.4.1 Brazil
5.3.4.2 Argentina
5.3.4.3 Rest of South America
5.3.5 Middle-East
5.3.5.1 Saudi Arabia
5.3.5.2 South Africa
5.3.5.3 Rest of Middle East
6 COMPETITIVE LANDSCAPE
6.1 Most Active Companies
6.2 Most Adopted Strategies
6.3 Market Share Analysis
6.4 Company Profiles
6.4.1 Seed Health, Inc.
6.4.2 Sabinsa Corporation
6.4.3 Biomin America Inc.
6.4.4 Probiotical SpA
6.4.5 Chobani Global Holdings LLC
6.4.6 United Naturals
6.4.7 Herbalife Nutrition Ltd.
6.4.8 Yakult Honsha Co. Inc.
6.4.9 Pfizer Inc.
6.4.10 Daflorn Ltd.
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
8 IMPACT OF COVID-19 ON THE MARKET
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