As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
The COVID-19 pandemic has caused a shift in consumer consumption patterns, affecting the diet of people. Instead of junk or processed foods, most consumers are now preferring products with a high nutritional value. People in the United States are choosing nutrient boosters to keep themselves immune and strong, which is causing a surge in probiotic sales. Earlier, during the pandemic, the retail stores and pharmacies stockpiled probiotics in a variety of forms due to manic buying of probiotics to keep oneself immune. Fear of infection also resulted in the adoption of a healthy lifestyle, which increased the demand for probiotics.
Due to the sheer growing popularity of probiotic functional foods and beverages among consumers, the food and beverage segment is expected to lead the probiotics industry during the forecast period. The probiotics industry is being driven by factors such as consumer awareness, trust in their efficacy, and safety. The food and beverage industry generates the most revenue across all regions. Consumers are now taking a proactive approach to prevent chronic disease.
In May 2021, Nestlé (OTCMKTS: NSRGY) introduced NAN CARE, a new probiotic supplement line, created specifically for Australian parents to help support their babies' and toddlers' growing immune and digestive systems. In December 2020, Danone S.A (EPA: BN) in China launched a range of probiotics to prevent mastitis in breastfeeding mothers. Such innovations in the industry are expected to boost the market growth over the forecast period.
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The major players in the global market for probiotics are Arla Foods amba, BioGaia AB, Chr. Hansen Holding A/S, Danone S.A., and Nestlé S.A., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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