Probiotics Market Overview
According to a recent survey conducted by ChemView Consulting, the Global Probiotics Market grew at a CAGR of 7.1% between 2017-2021 and is estimated to be US$ 53467.1 Mn in 2022. Currently, the market is anticipated to grow at a CAGR of 6.7% and is expected to reach a valuation of US$ 1,02,265.9 Mn by 2032 end.
The market is being propelled by the rising consumer preference for preventative healthcare along with the creation of effective probiotic strains. Probiotics benefit the body when ingested at sufficient levels, such as enhanced gut health and decreased intestinal inflammation.
Probiotics are essential for preventative healthcare since they boost immune function and stop the development of diseases. Therefore, increasing awareness of preventive healthcare is anticipated to fuel market expansion during the forecast period.
ChemView Consulting has analyzed that probiotics are renowned for improving human and animal health. International organizations, including the WHO, IPA, and the International Scientific Association for Probiotics and Prebiotics, are raising awareness of probiotics due to their growing benefits. The legislation and investment policies for probiotic R&D are created by associations collaborating with national governments, which drives the probiotics market.
To meet their vitamin needs, people take dietary supplements based on probiotics. They provide vitamin supplements more quickly and effectively. With changing, fast-paced lifestyles, particularly in nations like the US, nutritional supplements are highly preferred. Due to their extensive product lines, key players in the probiotics business, such as ADM (US) and International Flavors & Fragrances Inc. (US), have increased consumption in North America.
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Segments Covered in Report
By Product Type:
- Functional Food & Beverages
- Dairy products
- Non-dairy beverages
- Infant formula
- Cereals
- Other functional food & beverages
- Dietary Supplements
- Tablets
- Capsules
- Powder
- Liquids
- Soft gels
- Gel caps
- Feed
By Ingredients:
- Bacteria
- Lactobacilli
- Streptococcus thermophiles
- Bifidobacteria
- Yeast
- Saccharomyces boulardii
- Other yeasts
By End-User:
- Human
- Animal
By Distribution Channel:
- Hypermarkets & Supermarkets
- Pharmacies/Drugstores
- Specialty stores
- Online
- Convenience Stores/ Small Retail Formats
By Region and Country:
- North America (U.S., Canada)
- Latin America (Brazil, Mexico, Rest of Latin America)
- Europe (Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, Rest of Europe)
- Asia-Pacific (China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Rest of Asia-Pacific)
- Middle East (Saudi Arabia, Turkey, UAE, Rest of Middle East)
- Africa (South Africa, Nigeria, Egypt, Rest of Africa)
Key Takeaways from the Probiotics Market
- Based on the product type, to meet their vitamin needs, people take dietary supplements based on probiotics. They provide vitamin supplements more quickly and effectively. With changing, fast-paced lifestyles, particularly in nations like the US, nutritional supplements are highly preferred. Due to their extensive product lines, key players in the probiotics business, such as ADM (US) and International Flavors & Fragrances Inc. (US), have increased consumption in North America.
- Based on the distribution channel, probiotic producers are anticipated to experience rapid growth in the upcoming years due to the expansion of supermarkets and hypermarkets, particularly in the Asia Pacific region. Customers are eager to visit stores and spend more money on nutrient-dense goods. Even if it is pricey, the trend toward living a healthy lifestyle is drawing young people in the nation to buy at supermarkets. The rising need for internet distribution channels has forced supermarkets to change their business models. For instance, supermarkets and hypermarkets use techniques like in-store promotions and on-site demos. Supermarkets and hypermarkets are therefore expected to dominate during the projection period
- Based on the ingredients, several bacterial species, including Lactobacillus and Bifidobacterium, are used in probiotic foods for humans and animals. They have long been well-liked sources and are well-studied microorganisms. Therefore, the bacteria segment will continue to rule the probiotics market during the forecast period as consumer perceptions of probiotics improve.
- Based on the region, with a market share of 43.9%, Asia Pacific was anticipated to hold a sizeable portion of the global probiotics industry. For the analysis of the probiotics market, the Asia-Pacific region includes China, Japan, India, Australia, and New Zealand
Competition Summary
Key companies covered in the market study are Probi, Nestle, ADM, Danone, International Flavors & Fragrances Inc., Yakult Honsha Co., Ltd., General Mills Inc., Chr. Hansen Holding A/S Inc., BiGaia, Morinaga Milk Industry Co., Ltd., SACCO System, Winclove Probiotics, AB-Biotics, Glac Biotech, Lallemand, BIOHM Health, Sun Genomics, Unique Biotech Ltd., Probiotical S.p.A, Adisseo, NextFoods, Inc., Lifeway Foods, Inc., I-Health Inc., Suja Life, LLC, So Good So You
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Report Key Highlights and Coverage
- Our comprehensive, data-backed, and facts-oriented report provides niche and cross-sectional analysis at global and country levels.
- Assessment of the historical (actual data) and current market size (2017-2021), market projections (2022-2032), and CAGR.
- The market assessment across North America, Europe, East Asia, South Asia & Pacific, Latin America, Middle East, and Africa.
- Competitive tactical intelligence, key strategies adopted by top players, production capacity and company shares analysis, product brand surveys, and export-import analysis
- Pricing analysis to set and benchmark your current or future offerings across each product type helps you understand whether your pricing strategy is aligned with market expectations and can be compared to market disruptions.
- Predictions on critical supply and demand trends and technological expertise needed to address operations scalability.
- Consumer behavior shifts and their implications for players, list of end-users, and their consumption analysis.
- Key drivers, restraints, opportunities, and emerging trends impact market growth.
- Value chain analysis (list of manufacturers, distributors, end-users, and average profitability margins).
- Strategic market analysis, recommendations, and future headways on crucial winning strategies.
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