Probiotics are live microorganisms that when consumed in adequate amounts provide health benefits by improving or restoring the gut microbial balance. Probiotic supplements help regulate the intestinal tract by fostering the growth of beneficial microorganisms in the gut. Probiotics alleviate digestive issues like constipation, diarrhea, irritable bowel syndrome and also strengthen the immune system.
The global Probiotics Market is estimated to be valued at Us$ 63.79 Bn in 2023 and is expected to exhibit a CAGR Of 26% over the forecast period 2023 To 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increasing preference for natural healthcare alternatives that support digestive health has accelerated growth in the probiotics market over the forecast period. Research studies validating the role of probiotics in supporting gut and overall health have created increased awareness among consumers. This has driven the demand for probiotic dietary supplements and functional foods and beverages. Rising health consciousness and changing lifestyles have also contributed to the growing demand for probiotic products that promote digestive wellness in a natural manner. Innovations targeting specific health issues with new probiotic strains blended in convenient formulations will further support the market expansion.
Segment Analysis
The global probiotics market is segmented into ingredients, applications and forms. The ingredients segment is further divided into lactobacilli, bifidobacterium and streptococcus thermophiles. Among these, the lactobacilli segment holds the largest market share owing to major health benefits such as digestive health, food intolerance and vaginal health. Lactobacilli bacteria is commonly used to make foods like yogurt and cheese.
Key Takeaways
The Global Probiotics Market Demand is expected to witness high growth during the forecast period of 2023 to 2030. The increasing health concerns among consumers regarding digestive health and immunity have fuelled the demand for probiotics supplements and food products. The global probiotics market is estimated to be valued at US$ 63.79 Bn in 2023 and is expected to exhibit a CAGR of 26% over the forecast period 2023 to 2030.
Regional analysis
The Asia Pacific region dominates the global probiotics market and is expected to maintain its leading position during the forecast period. This is majorly attributed to the huge consumer base and increasing awareness related to gut and digestive health in countries like China, Japan and India. Moreover, growing popularity of probiotic dietary supplements among young population will further boost the market in the Asia Pacific region.
Key players
Key players operating in the probiotics market are Google LLC. (the U.S.), Microsoft Corporation (U.S.), DAQRI (U.S.), Mindmaze (Switzerland), Wikitude GmbH (Austria), Medical Realities (U.K.), Atheer (U.S.), Augmedix (U.S.), Oculus V.R. (U.S.), and CAE Healthcare (U.S.). Google LLC specializes in developing augmented reality software and is focused on healthcare applications of AR and VR technologies.
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