Market Size of Synbiotic Products Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 8.20 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Europe |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Synbiotic Products Market Analysis
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 Industry Segmentation
Synbiotic products are a beneficial combination of prebiotics and probiotics. These products are known to provide a favorable environment for good bacteria, resulting in good gut health.
The global synbiotic products market is segmented by product type and geography. By product type, the market is segmented into food and beverage, dietary supplements, animal feed, and others. The food and beverage segment is further bifurcated into dairy, beverages, infant foods, and others. Furthermore, by distribution channel into pharmacies/health stores, supermarket/hypermarkets, convenience stores, online retail stores, and others. Also, the market is segmented geographically into North America, Europe, Asia-Pacific, South America, and Middle East & Africa. For each segment, the market sizing and forecasts have been done based on value (in USD million).
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Synbiotic Products Market Size Summary
The synbiotic products market is experiencing significant growth, driven by the increasing consumer awareness and demand for functional foods and beverages that enhance gut health and overall well-being. Synbiotics, which combine prebiotics and probiotics, are gaining popularity for their benefits in improving mental, digestive, immunity, and heart health. The COVID-19 pandemic has further accelerated this demand, as individuals sought solutions for gut-related issues exacerbated by the virus. This has led to product innovations and the introduction of new synbiotic formulations, such as those launched by Asmara and Unique Times, which offer added benefits like antioxidant properties and stress relief. The market is also expanding beyond food and beverages, with growing interest from dietary supplements and animal feed sectors, although high manufacturing costs pose challenges to market expansion.
Regionally, Europe leads the market, followed by North America and Asia-Pacific, due to the high visibility and awareness of synbiotic products. The European Union's emphasis on clean labeling and safety assessments has facilitated the incorporation of synbiotics in various regional products. The market is characterized by fragmentation and competitiveness, with key players like Seed Health, Inc., Sabinsa Corporation, and Herbalife Nutrition focusing on strategic mergers, acquisitions, and new product developments to enhance their market presence. Collaborations, such as that between Clasado Biosciences and Herbalife Nutrition, highlight the ongoing innovation in synbiotic products, which are increasingly being integrated into diverse applications, including skincare and women's health products.
Synbiotic Products Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Drivers
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1.2 Market Restraints
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1.3 Porter's Five Forces Analysis
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1.3.1 Threat of New Entrants
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1.3.2 Bargaining Power of Buyers/Consumers
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1.3.3 Bargaining Power of Suppliers
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1.3.4 Threat of Substitute Products
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1.3.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 By Product Type
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2.1.1 Food and Beverage
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2.1.1.1 Dairy
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2.1.1.2 Beverages
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2.1.1.3 Infant Foods
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2.1.1.4 Others
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2.1.2 Dietary Supplements
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2.1.3 Animal Feed
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2.1.4 Others
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2.2 By Distribution Channel
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2.2.1 Pharmacies/ Health Stores
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2.2.2 Supermarkets/ Hypermarkets
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2.2.3 Convenience Stores
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2.2.4 Online Retail Stores
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2.2.5 Others
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2.3 Geography
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2.3.1 North America
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2.3.1.1 United States
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2.3.1.2 Canada
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2.3.1.3 Mexico
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2.3.1.4 Rest of North America
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2.3.2 Europe
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2.3.2.1 United Kingdom
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2.3.2.2 Germany
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2.3.2.3 France
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2.3.2.4 Russia
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2.3.2.5 Italy
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2.3.2.6 Spain
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2.3.2.7 Rest of Europe
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2.3.3 Asia-Pacific
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2.3.3.1 India
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2.3.3.2 China
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2.3.3.3 Japan
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2.3.3.4 Australia
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2.3.3.5 Rest of Asia-Pacific
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2.3.4 South America
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2.3.4.1 Brazil
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2.3.4.2 Argentina
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2.3.4.3 Rest of South America
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2.3.5 Middle-East and Africa
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2.3.5.1 Saudi Arabia
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2.3.5.2 South Africa
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2.3.5.3 Rest of Middle East and Africa
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Synbiotic Products Market Size FAQs
What is the current Synbiotic Products Market size?
The Synbiotic Products Market is projected to register a CAGR of 8.20% during the forecast period (2024-2029)
Who are the key players in Synbiotic Products Market?
Seed Health, Inc., Sabinsa Corporation, Biomin America Inc., United Naturals and Probiotical S.p.A. are the major companies operating in the Synbiotic Products Market.
