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Probiotics Market Size, Growth Drivers, Opportunities, Trends, Segmentations, Leading Players and Forecast

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Probiotics Market Size, Growth Drivers, Opportunities, Trends, Segmentations, Leading Players and Forecast

February 07
14:16 2024
Probiotics Market Size, Growth Drivers, Opportunities, Trends, Segmentations, Leading Players and Forecast
MarketsandMarkets™
Probiotics Market by Ingredient (Bacteria and Yeast), Product Type (Functional Food & Beverages, Dietary Supplements, and Feed), End User (Human and Animal), Distribution Channel, and Region – Global Forecast to 2027

The probiotics market size is predicted to grow at a CAGR of 8.1% between 2022 and 2027, reaching a value of $85.4 billion by 2027 from a projection of $57.8 billion in 2022. Probiotics are living microorganisms that have been shown to provide specific health benefits to consumers. They are known to support gut health and help in running the digestive system smoothly. Yogurt is one of the prime natural sources of probiotics. A rise in the number of health-conscious consumers, a rise in probiotics awareness, an aging population, and an increase in the number of gut-related disorders is driving the market of probiotic products. High demand for meat consumption across the globe is also fueling the feed probiotics market.

Probiotics Market

What are probiotics?

Probiotics are live microorganisms, primarily bacteria and yeast, that provide health benefits when consumed in adequate amounts. These beneficial bacteria are naturally found in certain foods, such as yogurt, kefir, sauerkraut, and kimchi, as well as in dietary supplements. Probiotics are known for their ability to support the balance of beneficial bacteria in the gut microbiome, which plays a crucial role in digestion, immune function, and overall health. They may help alleviate digestive issues, boost immune function, and even contribute to mental well-being. Additionally, probiotics have been studied for their potential to prevent or treat various health conditions, such as diarrhea, irritable bowel syndrome (IBS), and certain allergies.

Probiotics Market Trends

Here are some trends in the probiotics market:

1. Increasing Consumer Awareness: There’s a growing awareness among consumers about the importance of gut health and the role of probiotics in maintaining it. This heightened awareness is driving the demand for probiotic products.

2. Expansion of Functional Foods: Probiotics are increasingly being incorporated into various food and beverage products beyond traditional supplements and yogurts. This expansion includes items like probiotic-infused drinks, snacks, and even beauty products.

3. Focus on Specific Health Benefits: Companies are developing probiotic strains tailored to address specific health concerns such as digestive health, immune support, and mental well-being. This targeted approach is resonating with consumers seeking solutions for their individual health needs.

4. Innovation in Delivery Formats: Manufacturers are exploring innovative delivery formats for probiotics, such as powders, capsules, gummies, and even topical applications. This variety offers consumers more options to incorporate probiotics into their daily routines.

5. Personalization and Customization: With advancements in technology and research, there’s a trend towards personalized probiotic solutions. Companies are offering services like microbiome testing to provide personalized probiotic recommendations based on individual gut health profiles.

6. Focus on Sustainable and Clean Label Products: Consumers are increasingly seeking probiotic products that are sustainably sourced, free from artificial ingredients, and have transparent labeling. This trend is driving companies to prioritize clean label formulations and environmentally friendly packaging.

Probiotics Market Drivers: Participation of international bodies in the R&D of probiotic products

Probiotics are recognized globally for their health benefits in humans and animals. Owing to their increasing benefits, international bodies such as the WHO, the IPA, as well as the International Scientific Association for Probiotics and Prebiotics are spreading awareness related to probiotics. Associations, along with national governments, draft the regulation and investment policies for the R&D of probiotics, therefore driving the market for probiotics.

Probiotics Market Drivers: Participation of international bodies in the R&D of probiotic products

Probiotics are recognized globally for their health benefits in humans and animals. Owing to their increasing benefits, international bodies such as the WHO, the IPA, as well as the International Scientific Association for Probiotics and Prebiotics are spreading awareness related to probiotics. Associations, along with national governments, draft the regulation and investment policies for the R&D of probiotics, therefore driving the market for probiotics.

Dietary supplements product type in the probiotics market is projected to grow at the highest CAGR of 8.1% during the forecast period.

People consume probiotics-based dietary supplements to substitute their nutrient requirements. They are a faster and more efficient way of nutrient supplements. With changing fast-paced lifestyles, especially in countries such as the US, the preference for dietary supplements is high. Thus, In North America, the presence of major players, such as ADM(US), and International Flavors & Fragrances Inc. (US), in the probiotics industry has expanded consumption in this region due to their wide offerings. The demand for dietary supplements is also rising in the Asia Pacific region, thus making the dietary supplements segment the fastest-growing segment during the forecast period.

Europe is projected to reach USD 16.4 billion during the forecast period.

According to estimates, Europe is expected to hold a market share of 22% of the worldwide probiotics industry in 2022. The awareness and consumption of probiotics products are high in the region. The food & beverages industry is one of the largest and most important manufacturing sectors in Europe. The food market in the region is highly fragmented and consists of a large number of companies, most of which are small to medium-scale. The Europeans are health conscious and scrutinize ingredients on product labels before purchasing them. Most European countries, such as the Netherlands and Spain, have got approval from AESAN for the term probiotics on food and food supplement labels sold in the country. This has resulted in a high level of awareness, paving the way for increased demand for the consumption of probiotic products in the European region. These factors are thus, expected to push the probiotics market in the region to a value of USD 16.4 billion by 2027.

Probiotics Market Share

Key players in this market include ADM (US), Danone (France), Probi (Sweden), Nestle (Switzerland), Yakult Honsha Co., Ltd. (Japan), International Flavors & Fragrances Inc. (US) and BioGaia (Sweden).

Key Questions Addressed by Probiotics Market Report:

1. What is the market for probiotics?

2. What is the estimated growth rate (CAGR) of the global probiotics market for the next five years?

3. What are the major revenue pockets in the probiotics market currently?

4. Why are probiotics in demand?

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