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The human microbiome refers to the trillions of microorganisms that inhabit various parts of the human body including skin, mouth, nose, eyes, lungs, gastrointestinal tract, and urogenital tract. These microbes play an important role in human health and development by modulating various physiological functions such as immune system, metabolism, and protection against pathogens. Growing awareness about the role of gut health in overall well-being has generated significant demand for probiotic supplements and foods over the recent years.
The global Human Microbiome Market is estimated to be valued at US$ 4248.55 million in 2023 and is expected to exhibit a CAGR of 4.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Opportunity:
The growing consumer demand for functional foods and dietary supplements emphasizing gut health presents immense growth opportunity for players in the human microbiome market. Many food and beverage companies have launched a range of probiotic enriched dairy products, juices, and nutrition bars in order to cater to health-conscious consumers. Additionally, probiotic supplements targeted to modulate specific microbiome functions associated with conditions like obesity, diabetes, and neurological disorders have gained traction in recent years. Large investments in microbiome-based drug development by pharmaceutical players are further expanding lucrative business opportunities for companies operating in the human microbiome market over the forecast period.
Porter's Analysis
Threat of new entrants: The human microbiome market requires high R&D investment and strategies to discover new probiotic strains, making it difficult for new companies to enter.
Bargaining power of buyers: Individual consumers have low bargaining power due to availability of limited product options, whereas pharmaceutical companies can negotiate on large volume orders.
Bargaining power of suppliers: A few companies dominate the market for probiotic strains supplying intellectual property, giving them higher bargaining power over buyers.
Threat of new substitutes: Alternatives like prebiotics and synbiotics pose limited threat as probiotics have well-established consumer preference and health associations.
Competitive rivalry: Major players compete on clinical research, new product innovation, and marketing to gain market share and differentiation.
SWOT Analysis
Strengths: Growing consumer awareness about gut and immune health benefits of probiotics. Extensive clinical research validating role of certain bacterial strains.
Weaknesses: High R&D costs and regulatory approvals required. Effects of probiotics can vary significantly among individuals.
Opportunities: Rising prevalence of lifestyle diseases is prompting demand for preventive healthcare solutions. Growth in affiliated functional food and supplement categories.
Threats: Stringent regulations over new strain claims and product formats. Patent expiries of blockbuster strains enabling generic competition.
Key Takeaways
The Global Human Microbiome Market Growth is expected to witness high over the forecast period on account of rising awareness about role of gut health and microbiome in overall wellness. The global Human Microbiome Market is estimated to be valued at US$ 4248.55 Mn in 2023 and is expected to exhibit a CAGR of 4.8% over the forecast period 2023 to 2030.
Regional analysis: North America dominates currently due to favorable regulatory environment and availability of advanced research infrastructure. Asia Pacific is emerging as one of the fastest growing markets due to rising lifestyle diseases, growing medical tourism, and expansion strategies of major players.
Key players operating in the human microbiome market are Diageo plc, Pernod-Ricard SA, Constellation Brands Inc., Brown-Forman Corporation, Remy Cointreau SA, Marie Brizard Wine & Spirits, Lapostolle SA, and Berentzen-Gruppe AG. Major players are focusing on probiotic strain innovation through collaborations and M&As.
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