Partnerships and New Product Launches To Spearhead Probiotic Consumption Across Globe
The need for preventing bowel disorders, improving immunity of human body, alleviating traveler’s diarrhea, and reducing postmenopausal disorders in women has spurred demand for probiotics in the healthcare sector. Reportedly, probiotics are living microorganisms that help in promoting gut health.
As per NCBI, probiotics are used in effectively treating myriad kinds of disease conditions and exhibit antihypertensive & antihypercholesterolemic features. Additionally, probiotics are mostly found in cultured milk & fermented foods and find major applications in preparation of infant food.
Foods such as Kefir & Kombucha are the best examples of foods that are fermented for producing natural probiotics. Moreover, promoting of gut health, need for improving immunity during COVID-19 pandemic, and general wellness are boosting the demand for probiotic drinks as a suitable source of food. Furthermore, necessity of healthy, functional, and nutritional food & beverages has resulted in massive sale of probiotic drinks.
Growing preference for probiotics in regular diet is attributed to massive awareness among consumers about numerous health benefits such as high calcium absorption and improved digestive ability offered by probiotics to consumers.
The outcome of clinical tests in patients with flexible dyspepsia has revealed that probiotics consumption can effectively treat disease conditions such as functional dyspepsia. Reportedly, the Lancet Journal, a reputed medical journal, published the outcome of clinical tests carried on 68 functional dyspepsia patients between June 2019 and March 2020.
For the record, 32 of these patients were given spore-forming probiotics for consuming, while 36 of the patients were given placebo. However, spore-forming probiotics Bacillus coagulans MY01 and Bacillus subtilis MY02 were found to be more efficient & safe in treating of functional dyspepsia in patients as compared to placebo. All these beneficial properties of probiotics are predicted to boost the consumption of probiotics, thereby expediting the probiotics market surge.
New product launches in probiotics product line, partnerships, huge investments made by healthcare firms in projects supporting probiotics consumption, and acquisitions will boost probiotics market growth. According to Allied Market Research, the global probiotics market is predicted to garner revenue worth nearly $73.9 billion by 2030. Following are some of the current trends witnessed in the global probiotics market.
Partnership is one of the key business strategies adopted by industry players for enhancing their probiotic testing service offerings. In June 2022, Amway Korea in partnership with Human Effective Microbes (HEM) Pharma, a biotech start-up based in South Korea, launched precision probiotic service.
The newly launched precision probiotic service is predicted to encourage individuals send their faecal samples to Amway Korea which will analyze them. After examining the samples, Amway Korea is expected to recommend consumption of particular type of probiotic for individuals that can help in increasing gut microbiome and short chain fatty acid production.
Zinereo Pharma, a pharmaceutical firm based in Spain, in collaboration with Probisearch SL, a Spanish biotech firm & leader in probiotic research, carried out clinical trials on new probiotic products such as Fertibiome & Neobime for determining their ability in improving fertility in couples and gut health in premature babies. Moreover, it was found from the trials that consumption of Fertibiome by couples improved their fertility and intake of Neobime enhanced gut health in premature babies.
Launching of new products in existing product line by market players is predicted to assist probiotics market register a mammoth growth in ensuing years. On June 7, 2022, Hims & Hers Health, Inc., a U.S. based telehealth firm selling prescribed & OTC medicines online, announced the launch of six new probiotic supplements formulated for women.
These six new probiotic supplements include Start Women’s Probiotic, Mood Mental Health Probiotic, Detox Gut Health Probiotic, Digest Debloat Probiotic, Glow Skin Health Probiotic, and Desire Libido Supplement. Moreover, these novel probiotic supplements will boost general health, mental wellness, gut health, digestive health, skin health, and libido of women.
Industry players are making huge investments in producing probiotics-based products for fulfilling the growing demand for these products across the globe. For instance, Nestle S.A. invested a huge amount of money for producing infant formula for fulfilling the demand for nearly 40 million additional infant formula bottles in the U.S.
The shortage of infant formula bottles in the U.S. occurred due to recall of few of baby formula by Abbott Laboratories across the globe in February 2022. Reportedly, Nestle will deliver Gerber Good Start Gentle Infant Formula from Mexico and NAN Supreme Pro 1 Infant formula & Supreme Pro 2 Infant formula from Germany in the next five months starting from June to ending in October.
Acquisitions made by giant players play a key role in influencing growth of any market and probiotics market is no exception. On May 9, 2022, Danone S.A., a leading food product corporation based in France, acquired Dumex, an infant and children nutrition firm, from Yashili Interantional Holdings Ltd.–an infant formula & soymilk product manufacturer headquartered in China & Hong Kong–to which it had sold in 2016. Such strategic moves of industry players are aimed at expanding their regional presence along with increasing their consumer base.
Earlier, in August 2018, Archer Daniels Midland Company, a U.S. based food processing & commodity trading firm, acquired the U.K.-headquartered firm Probiotics International Limited to expand its business in the probiotics market in the U.K. and across Europe. The strategic move of the firm was aimed at exploring new revenue streams in rapidly expanding probiotic market and increase profit margins.
Author Biography-
Dhananjay Punekar is writer, avid reader & book lover, and interested in watching sports. He holds post graduate degree in management and is working as a Sr. Specialist Content Writer at Allied Market Research. He can be reached at [email protected]