The global probiotics market size is expected to showcase a considerable growth by reachingUSD 147.99 billion by 2032 while exhibiting a CAGR of 8.37% between 2020 and 2032. The increasing demand for healthy probiotics fortified food products and the growing adoption of technology by the companies is attributed to the growth of the market. This information is published by Fortune Business Insights, in its latest report, 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.” The report further mentions that the market stood at USD 48.88 billion in 2019.
Information Source: https://www.fortunebusinessinsights.com/industry-reports/probiotics-market-100083
Increasing Consumption of Healthy Food Products amid COVID-19 to Stoke Demand
To mitigate the risk of the novel coronavirus, the people are consuming a healthy and balanced diet. The increasing demand for immunity boosting products such as probiotics that enhance gut health and improves overall health is expected to bode well for the growth of the market in the near future.
Probiotics are healthy yeasts and bacteria that aid in the overall development of the digestive system that keep the gut healthy. Some of these extensively adopted supplements are Bifidobacterium, Lactobacillus, and Saccharomyces that enable several health benefits when consumed regularly. Apart from the enhanced gut, they aid in reducing depression and promote a healthy heart functioning amongst the consumer. They are generally added to food products such as yogurt and are considered as an immunity-boosting product across the globe.
What does the Report Include?
The market report includes a detailed assessment of various growth drivers and restraints, opportunities, and challenges that the market will face during the projected horizon. Additionally, the report provides a comprehensive research into the regional developments of the market, affecting its growth during the forecast period. It includes information sourced from the advice of expert professionals from the industry by our research analysts using several methodologies. The competitive landscape offers further detailed insights into strategies such as product launches, partnerships, mergers and acquisitions, and collaborations adopted by the companies to maintain market stronghold between 2020 and 2027.
DRIVING FACTORS
Increasing Consumption of Immunity Boosting Food Products to Spur Demand
The increasing prevalence of lifestyle diseases such as obesity and diabetes is driving the demand for a healthy and balanced diet. According to the World Health Organization (WHO), the global rate of obesity amongst the people has tripled since 1975. This alarming pace at which the lifestyle diseases are increasing is propelling the demand for immunity boosting products such as probiotics across the globe. Additionally, the growing adoption of technology is enabling the manufacturers to educate the consumers about the health benefits of consuming such a diet. These initiatives are further expected to boost the growth of the global probiotic bacteria market during the forecast period.
SEGMENTATION
Supermarkets/Hypermarkets Segment Held a 61.33% Market Share in 2019
The supermarkets/hypermarket segment held a market share of about 61.33% in 2019 and is expected to experience a considerable growth owing to the wide availability of the products and easy accessibility, along with offering several discounts, and cashback.
REGIONAL INSIGHTS
Asia-Pacific to Remain at the Forefront; Increasing Consumption of Fermented Drinks to Aid Growth
Among all the regions, Asia-Pacific is expected to showcase an exponential growth and hold the highest position in the global probiotic bacteria market. This dominance is attributable to the increasing consumption of fermented food products that impart a healthy gut and balanced overall diet.
The market in North America stood at USD 8.30 billion in 2019 and is anticipated to showcase a significant growth during the forecast period. This is ascribable to factors such as the increasing prevalence of lifestyle diseases and the presence of established manufacturers that are focusing on developing innovative products in the region between 2020 and 2027.
COMPETITIVE LANDSCAPE
Major Companies Focus on Introducing Innovative Products to Strengthen Their Market Positions
The global probiotics market is fragmented into several major companies that are striving to maintain their presence by introducing new probiotics products to cater to the increasing demand and consolidate their position. The adoption of strategies such as partnership, collaboration, and merger and acquisition by key players to expand their distribution network will favor market growth in the forthcoming years.
Industry Development:
- June 2020 – Pendulum Therapeutics announced the launch of Pendulum Glucose Control, the first-ever medical probiotic that is proven to lower blood sugar spike and A1C.
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)
Blog Related Insights:
Comments
0 comment