Increasing demand spurs Indian Probiotics Market to reach a market size of US$961.856 million in 2025
JBCPL’s acquisition of Sanzymesets to amplify probiotic market in India
Hyderabad: The onset and the persistence of COVID-19 have broadly impacted the entire healthcare ecosystem. Moreover, at the individual level, the immune system of everyone has been affected in some way or another, touching all the faculties of health including gut health. And in keeping the gut healthy, probiotics, live bacteria and yeasts help to a greater extent.
Thanks to the increased demand for probiotics post COVID, the Global probiotics market size is projected to reach $73.9 billion by 2030, registering a CAGR of 8.6% [1]wherein Asia-Pacific holds the maximum market share of the probiotics market in the world. And Indian probiotics market is also anticipated to grow at a compound annual growth rate of 13.56% over the forecast period to reach a market size of US$961.856 million in 2025 from US$448.456 million in 2019.[2]
Probiotics are bacteria that when consumed in sufficient amounts have a desirable impact on the human body such as improved gut health and reduced intestinal inflammation. They also strengthen the immune system, which prevents the onset of many diseases and are proved to be effective in improving gut-related disorders.
Probiotics may be taken orally in an attempt to restore any imbalance in the normal intestinal or urogenital flora. These are available as dietary supplements or contained naturally or added to foods such as yoghurt, sauerkraut, or kefir.
In the wake of the outbreak of COVID, the primacy of health has increased significantly. And health awareness among consumers is on the rise, thus increasing the demand for probiotics as it has proven effective for the human digestive system. Besides providing basic nutrition, probiotic food, beverage products and dietary supplements enhance holistic health. Increasing health awareness has turned out to be the major contributor to the growth of the probiotic market across the globe.
Investments in research and development have considerably increased due to the increasing health concerns across the globe. The increasing investments are further expected to improve the quality of the probiotic product in the market, which will subsequently drive market growth in the next few years. According to the probiotics market forecast, the preventive healthcare segment steered the market with the highest market share. This is credited to the growth in health issues that have stimulated market players to keep aside budgets for R&D and launch new probiotic products. By ingredients, the bacteria segment held the highest market share in 2020. By region, on the other hand, the market across Asia-Pacific would manifest the fastest CAGR by 2030.
Owing to the increasing demand for probiotics from developing countries such as India, and China, the Asia Pacific region is estimated to grow significantly during the forecast period. The primary reason for the growing demand in this region is the rapidly increasing population, rising disposable income, and awareness of health benefits.
Considering the increasing demand for probiotics in India, companies like J.B. Chemicals & Pharmaceuticals Limited (JBCPL) have recently acquired the leading probiotics brands like Sanzyme Private Limited (Sanzyme) to amplify the probiotic market in India. Sanzyme, ranked amongst the top five probiotics players in the country, is engaged in the manufacturing, distribution and marketing of speciality probiotics formulations, infertility management products and nutraceuticals products. It operates in the gastroenterology, nephrology, urology and gynaecology therapy areas with leading brands such as Sporlac, Lobun, and Gynogen. As per IQVIA MAT Dec 21 data, the revenue for the combined brands was INR 160 crores.
“Considering the probiotics segment’s growth at 12-14% annually, we have recently acquired Sanzyme – a leading player in the probiotics and hormones. We have observed that these segments have shown remarkable growth in sales as just before the outbreak of COVID in India, the sales were 1.5 billion, which has now grown to 1.6 billion as per data available till December 2021,” says Mr Nikhil Chopra, CEO & Whole-time Director, J.B. Chemicals & Pharmaceuticals Limited.
“With JBCPL’s extensive distribution network, and the concerted efforts of our integrative team, we will be able to penetrate the probiotics market and contribute to the desired industry growth in India, and at the same time achieve our projected numbers,” added Mr Chopra.
The acquired brands have a pan-India presence and wide distribution reach of ~ 300,000 chemists and ~100,000 prescribers. Probiotics portfolio includes Sporlac (which is the third largest probiotics brand in India) and specialized products such as Lobun (A probiotic used for delaying progression of chronic kidney disease) and Oxalo (alternate risk-free therapy to decalcify kidney stones).
