Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Probiotics market grow even more. Market participants are also undertaking a variety of strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the Probiotics industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the Probiotics industry to benefit clients and increase the market sector. In recent years, the Probiotics industry has offered some of the most significant advantages to health-conscious consumers. Major players in the Probiotics market, including Lallemand Inc., Probi AB, CHR-Hansen AA/S, Kerry Group, Synbio Tech Inc., DowDupont Inc., Novozymes A/S, Probiotics SpA, Roelmi HPC, UAS Laboratories LLC, Greentech SA., and others, are attempting to increase market demand by investing in research and development operations.
BioGaia is a Swedish healthcare company and the world's number one in probiotics. It puts together the well-researched probiotic bacteria Lactobacillus reuteri and top-line engineering to develop unique packaging solutions that make it possible to create probiotic products matching the customer's needs. The class B share of BioGaia is quoted on the Mid Cap list of the Nordic Exchange Stockholm. BioGaia, a biotechnology company, announced the collaboration with Skinome for doing research and development of a product using live bacteria, which will improve skin health in a natural way by supporting the skin microbiome in the year 2022.
In August 2022, along with wholly-owned subsidiary Metabogen (a research and development), it launched a probiotic product and spread its product portfolio with new bacterial strains. In July 2022, BioGaia company developed a probiotic product to help children with respiratory health, which focuses on strengthening the immune system and supporting children's upper respiratory health.
Neuraxpharm is a top European specialty pharmaceutical company focused on treating central nervous system disorders with direct business in 20 countries. With a focus on CNS, Neuraxpharm launches and commercializes established brands, value-added medicine, generics, Consumer Healthcare products, medical cannabis, and beyond-the-pill solutions and is constantly focused on providing a wide range of effective, high quality and affordable CNS treatment options in Europe. It has its products in more than 50 countries; Neuraxpharm also manufactures pharmaceutical products (FDFs) and active pharmaceutical ingredients (APIs) in its own manufacturing sites in Spain, Lesvi, and Inke.
In May 2019, Neuraxpharm Group launched its first probiotic in the regional market that, follows a special licensing contract with Bened Biomedical Co., Ltd.