Probiotics are classified as beneficial bacteria’s that promote the healthy functioning of the gut. They are basically consumed to treat the digestive disorder. Probiotics improve the immune response and also preserve the proteins & lipids from oxidative destruction. Probiotics are available in the form of tablets, powders, capsules, and gel.
The global probiotics market is projected to surpass US$ 80.0 billion by the end of 2027, in terms of revenue, growing at CAGR of 6.8% during the forecast period (2020 to 2027).
Increasing consumption of functional and dietary supplements that have probiotics is expected to foster the market growth. Yogurts products are gaining huge demand for which manufacturer are continuously introducing a variety of products, thereby fueling the market growth of probiotics. For instance, in September 2019, Brownes Dairy has expanded its Western Australia market with the launch of Wiggles, a new range of prebiotic yogurt pouches. Wiggles yogurt pouches use a prebiotic fiber extracted from a plant called chicory root to help support the digestive health of consumers.
Growth in the food & beverage industry due to increasing consumers spending and favorable government support is expected to serve as one of the major driver factor the market growth of probiotics. Growing demand for fortified food among health-conscious consumers is again expected to propel the market growth of the probiotic. The rising importance of food safety and transparency is further projected to bolster market growth over the forecast timeframe.
Figure 1. Global Probiotics Market, Revenue Share (%), By Region, 2019
Lack of proper regulations in the probiotics industry is expected to hinder the market growth. Moreover, probiotics require proper storage facility as they are highly sensitive organisms that may easily get weakens from various environmental factors. Also, most of the probiotics are unstable at room temperature. All these factors are hampering the market growth.
Lack of awareness regarding the health benefits of probiotics among consumers of developing regions is expected to inhibit the market growth of probiotics.
|Base Year:||2019||Market Size in 2019:||US$ 48.0 Bn|
|Historical Data for:||2016 to 2019||Forecast Period:||2020 to 2027|
|Forecast Period 2020 to 2027 CAGR:||6.8%||2027 Value Projection:||US$ 80.0 Bn|
BioGaia AB, Chr. Hansen, Groupe Danone S.A., Nestle S.A., PROBI AB, Lifeway Foods, Inc., Mother Dairy, General Mills, Inc., China-Biotics, Inc., Yakult Honsha Co., Ltd., and E. I. du Pont de Nemours and Company
|Restraints & Challenges:||
Increasing demand for probiotic beverages among health-conscious consumers is expected to offer lucrative opportunities to the market in the near future. For instance, in April 2020, Neuro has launched a new digestive beverage called Probucha – derived from ‘probiotics’ and ‘kombucha’. The shelf-stable drink is lightly carbonated with natural flavoring, including Meyer lemon and ginger to aid digestion. Its probiotic benefits are derived from a single ingredient called Bacillus subtilis which makes it safe to store at room temperature.
Growth in the aging population coupled with the rising awareness regarding the health benefits of the probiotics is expected to serve as a major growth opportunity. A growing number of working women couple with the increasing consumer's spending on the healthy food products are expected to accelerate the market growth of probiotics. Moreover, the availability of probiotics dietary supplements in various forms are further expected to stimulate market growth over the forecast timeframe.
Figure 2. Global Probiotics Market – Opportunity Analysis
Growing health wellness trends around the globe are projected to augment the market growth of probiotics. Rising adoption of healthy lifestyle among consumers coupled with the increasing number of people participating in sports activities is also expected to augment the market growth of probiotics. Increasing consumption of meat products as probiotics are used to increase the shelf-life of the meat products are further expected to foster the market growth of probiotics.
The use of streptococcus probiotic strain in fortifying animal feeds is one of the current trends in the market. It reduces the chances of pox and tuberculosis disease in animals. Moreover, increasing use of probiotics in the production of supplements to treat various inflammatory skin disease such as atopic dermatitis, acne, and eczema. All these factors are expected to fuel the market growth of probiotics.
Figure 3. Global Probiotics Market, Revenue Share (%), By Ingredients, in 2019
On the basis of ingredients, lactobacillus dominated the global probiotics market in 2019 with around 65% of market share in terms of revenue, followed by streptococcus and bifidobacterium, respectively.
Global Probiotics resins Market - Impact of Coronavirus (Covid-19) Pandemic
There have been unprecedented variations in the global sales of food products owing to the changes in purchase patterns among consumers. Rising trends of bulk buying and stockpiling of perishable foods has led to certain foods being in very limited supply, which in turn has led to price fluctuations in global probiotics market. This scenario is expected to hinder the growth rate the market till the early months of 2021.
Key players are operating in the global probiotics market are BioGaia AB, Chr. Hansen, Groupe Danone S.A., Nestle S.A., PROBI AB, Lifeway Foods, Inc., Mother Dairy, General Mills, Inc., China-Biotics, Inc., Yakult Honsha Co., Ltd., and E. I. du Pont de Nemours and Company
Few Recent Developments
Probiotics are the type of functional foods and beverages which help in improving gut functionality and boosting immunity. In addition to this, they help in increasing breaking down of high calorie foods which makes it easier for stomach acids to breakdown complex protein and ease in digestion. Adoption of healthy lifestyle and increasing health awareness among consumers is expected foster the growth of the market during the forecast period. Diabetic foods are available for various applications such as dietary beverages, ice cream and jellies, dairy products, confectionery, baked products, and others
The global probiotics market has witnessed significant growth in recent past years, owing to the rising health-conscious and adoption of a healthy lifestyle among consumers in the region. Moreover, growing awareness among consumers regarding health risks associated with excessive consumption of sugary beverages and foods with have high-calorie content is expected to provide lucrative growth to the global probiotics market over the forecast period.
Major players in the global probiotics market are increasing their investment on innovative product launchings, research & development and marketing & promotional activities to capitalize on emerging trends in food & beverage industry. This scenario is expected to fuel the market during the forecast period.
Key features of the study:
“*” marked represents similar segmentation in other categories in the respective