Probiotics are classified as beneficial bacteria 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.
Global probiotics market was valued at US$ 54.9 Billion in 2021 in terms of revenue, exhibiting a CAGR of 6.9% during the forecast period (2022 to 2030).
Drivers
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 2020, 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 is further projected to bolster market growth over the forecast timeframe.
The rapid increase in demand of nutrition food products in recent times coupled with the disruptions in supply chain caused during Coronavirus (Covid-19) Pandemic has resulted in inability to maintain levels of supply. However, rising demand for probiotics owing to rising health issues among elderly population for immunity boost during Coronavirus (Covid-19) Pandemic is expected to stabilize the growth of the market after the mid quarter 2020.
Figure 1. Global Probiotics Market Value Share (%), By Region, 2021
Market Restraints
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. Moreover, 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.
| Report Coverage | Details | ||
|---|---|---|---|
| Base Year: | 2021 | Market Size in 2021: | US$ 54.9 Bn |
| Historical Data for: | 2017-2020 | Estimated Year: | 2022 |
| Forecast Period 2022 to 2030 CAGR: | 6.9% | Forecast Period: | 2022-2030 |
| Geographies covered: |
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| Companies covered: |
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 |
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Market Trends
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.
Figure 2. Global Probiotics Market Value Share (%), By Ingredients, 2021
On the basis of ingredients, lactobacillus dominated the global probiotics market in 2021 with around 65% of market share in terms of revenue, followed by streptococcus and bifidobacterium, respectively.
Recent Developments
Competitive Section
Major players operating in the global probiotics market include 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
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.
Market Dynamics
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.
Preventive healthcare includes a healthy lifestyle and dietary choices that help prevent the occurrence of diseases. Awareness regarding preventive healthcare is on the rise due to various factors, such as increasing disposable income, improving the standard of living, and growth in the aging population. Easy availability of information pertaining to preventive healthcare on the internet is also contributing favorably to the rising awareness.
Key features of the study:
Detailed Segmentation:
“*” marked represents similar segmentation in other categories in the respective section
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