Key Takeaways:
Key players operating in the Probiotic Food and Cosmetics are Biomilk Skincare, Gallinée Microbiome Skincare, Probi Ab, LaFlore Probiotic Skincare, TULA Skincare, Nestlé, Archer Daniels Midland Company, Danone, DuPont, Yakult Honsha, General Mills, Kerry, BioGaia, Morinaga Milk Industry Co., Ltd., Glowbiotics LLC, Eminence Organic Skin Care, Esse Skin Care, L'Oréal, Estée Lauder. The growing demand for health, nutrition and wellness products has increased the demand for probiotic food and cosmetics globally. With more research demonstrating the link between gut and skin health, the probiotic personal care category is experiencing increased focus and investments. Moreover, companies are expanding their presence across Asian, Latin American and African markets seeing higher growth opportunities.
Market Drivers:
The key driver for the Probiotic Food And Cosmetics Market Size is the growing popularity of natural and personalized products. Customers prefer organic, preservative-free items with live probiotic strains that are specifically tailored to their needs. Moreover, the COVID-19 pandemic has increased health consciousness and focus on preventive measures like boosting immunity through diet. This has driven interest in probiotic enriched yogurt, drinks and supplements. Rising awareness about probiotic benefits through marketing, online influence and clinical studies is further fueling the consumption of these products.
The ongoing geopolitical tensions and conflicts across various parts of the world are impacting the growth of probiotics food and cosmetics market. The supply chain disruptions caused due to COVID-19 pandemic, Russia-Ukraine war and tensions between China-Taiwan have hampered the cross-border trade and movement of raw materials. Many countries have imposed export restrictions on key ingredients like prebiotics and probiotic bacteria to address domestic shortages. There is also limited air and sea freight capacity which is delaying shipments. The probiotic supplement producers are facing challenges in sourcing quality probiotic strains and ingredients from different countries. All these factors are negatively impacting the production volumes and ability to cater to growing global demand. The companies in this industry need to diversify their supply bases, establish local manufacturing facilities and find alternative sourcing routes to make their supply chains more resilient. They also need to invest in developing indigenous sources for key inputs. Adapting to ongoing geopolitical uncertainties and scenarios of trade protectionism requires strategic long term planning by industry players.
The North American and European markets currently account for over 60% of the global probiotics food and cosmetics market value. Countries like the United States, Germany, France, the United Kingdom and Italy have seen rising awareness and demand for probiotic formulations among their health-conscious populations. The spending power of consumers in these regions allows them to pay premium prices for innovative probiotic products claiming multiple health and beauty benefits. However, the Asia Pacific region dominated by China, India and Japan is rapidly catching up due to their huge middle-class consumer bases and rising healthcare expenditures. Southeast Asian economies are also emerging as high growth centers. Overall the advanced markets of North America and Western Europe will continue dominating in terms of revenue generation while high population nations of Asia and Africa will drive volumes in the forecast period with their growing middle classes.
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