The global probiotics market revenue is anticipated to reach USD 147.99 billion by 2032, with a compound annual growth rate (CAGR) of 8.37% from 2020 to 2032. This market growth is primarily driven by the rising demand for health-focused food products containing probiotics, coupled with the increasing adoption of advanced technologies by businesses.
A report from Fortune Business Insights, titled “Probiotics Market Size, Share & Industry Analysis, By Microbial Genus (Lactobacillus, Bifidobacterium, and Yeast), Application (Functional Foods & Beverages, Dietary Supplements, and Animal Feed), Distribution Channel (Supermarkets/Hypermarkets, Pharmacies/Health Stores, Convenience Stores, Online Retail, and Others), and Regional Forecast, 2020-2032,” highlights that the market was valued at USD 48.88 billion in 2019 and is expected to see significant growth in the coming years.
Information Source: https://www.fortunebusinessinsights.com/industry-reports/probiotics-market-100083
Increasing Consumption of Healthy Food Products amid COVID-19 to Stoke Demand
As individuals aim to reduce their risk of contracting the coronavirus through a nutritious, well-balanced diet, the demand for immunity-boosting products like probiotics is expected to rise. Probiotics, which consist of beneficial bacteria and yeasts, play a key role in supporting digestive health and maintaining intestinal balance. Popular supplements such as Lactobacillus, Bifidobacterium, and Saccharomyces are readily available and offer a range of health benefits when taken regularly. In addition to improving gut health, probiotics are known for their positive impact on mental well-being and heart health. These beneficial microorganisms are often added to foods like yogurt to enhance their immune-boosting properties.
What does the Report Include?
Throughout the forecast period, the probiotics industry is expected to encounter a range of opportunities, challenges, growth drivers, and constraints, all thoroughly analyzed in the market report. The report also delves into the regional market dynamics and how they will shape growth during this time. To compile this information, our research analysts have utilized various methods, including insights from seasoned industry professionals. Moreover, the competitive landscape section offers an in-depth overview of the strategies employed by companies to retain their market leadership from 2020 to 2032. These strategies include joint ventures, new product launches, mergers and acquisitions, and collaborative initiatives.
SEGMENTATION
Supermarkets/Hypermarkets Segment Held a 61.33% Market Share in 2019
In 2019, the supermarkets/hypermarkets segment accounted for approximately 61.33% of the market share and is projected to see significant growth. This expansion is driven by the wide availability of products, easy accessibility, and the attractive offerings of discounts and cashback, which continue to appeal to consumers.
DRIVING FACTORS
Increasing Consumption of Immunity Boosting Food Products to Spur Demand
The rising prevalence of lifestyle diseases like obesity and diabetes is fueling the demand for nutritious, balanced diets. According to the World Health Organization (WHO), the global obesity rate has tripled since 1975. This surge in lifestyle-related health issues is driving increased demand for immunity-boosting products, such as probiotics. With the growing integration of technology, companies are now better positioned to educate consumers on the health benefits of these products. These initiatives are expected to further propel the growth of the global probiotic bacteria market during the forecast period.
REGIONAL INSIGHTS
Asia-Pacific to Remain at the Forefront; Increasing Consumption of Fermented Drinks to Aid Growth
The Asia-Pacific region is expected to experience the fastest growth and lead the global probiotic bacteria market. This dominance is largely due to the region's traditionally well-balanced diets and the increasing consumption of fermented foods, which support gut health.
In North America, the probiotic market is also projected to see significant growth during the forecast period, with a market value of USD 8.30 billion in 2019. This growth is driven by factors such as the rising prevalence of lifestyle-related disorders and the presence of prominent manufacturers focused on developing innovative products in the region between 2020 and 2032.
COMPETITIVE LANDSCAPE
Major Companies Focus on Introducing Innovative Products to Strengthen Their Market Positions
The probiotics industry is comprised of several prominent companies that operate globally across different regions. To maintain their position in the market, these businesses are continuously introducing new probiotic products to meet increasing demand and expand their market share. Major companies are expected to drive future market growth by implementing strategies aimed at expanding their distribution networks, including collaborations, partnerships, and mergers and acquisitions. These efforts will help strengthen their presence and foster further industry expansion.
List of the Companies Profiled in the Market:
- Danone S.A. (Paris, France)
- Lallemand Inc. (Canada)
- Yakult Honsha (Japan)
- Nestlé S.A. (Vevey, Swizerland)
- DuPont (Danisco A/S) (Delaware, United States)
- Hansen (Horsholm, Denmark)
- Kerry Inc. (Tralee, Ireland)
- Post Holdings, Inc. (Missouri)
- Pepsico, Inc. (New York, United States)
- Evolve Biosystems, Inc. (Davis, California)
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