The Probiotics Market Revenue is projected to reach USD 147.99 billion by 2032, with a compound annual growth rate (CAGR) of 8.37% from 2020 to 2032. This growth is primarily driven by rising consumer demand for health-focused probiotic products and increased adoption of advanced technologies by businesses.
According to a report by 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, the market, which was valued at USD 48.88 billion in 2019, is expected to experience substantial growth in the coming years.
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)
Information Source: https://www.fortunebusinessinsights.com/industry-reports/probiotics-market-100083
Increasing Consumption of Healthy Food Products amid COVID-19 to Stoke Demand
As people seek to reduce their risk of contracting viruses like COVID-19 by maintaining a healthy, balanced diet, the demand for immunity-boosting products such as probiotics is expected to rise. Comprising beneficial bacteria and yeasts, probiotics play a crucial role in supporting gut balance and digestive health. Widely available supplements like Lactobacillus, Bifidobacterium, and Saccharomyces offer numerous health benefits when consumed regularly. In addition to promoting gastrointestinal health, probiotics are recognized for their positive impacts on heart and brain health. These beneficial bacteria are commonly added to foods like yogurt to enhance their immune-boosting properties.
What does the Report Include?
The probiotics industry is expected to encounter a range of opportunities, challenges, growth drivers, and obstacles over the forecast period, all of which are examined in detail in the market report. The study also analyzes the characteristics of regional markets and their projected impact on growth during this time. Our research analysts have gathered insights through various methods, including guidance from experienced industry experts. Additionally, the competitive landscape section provides an in-depth overview of the strategies companies are employing to retain market leadership from 2020 to 2032. These strategies include mergers and acquisitions, joint ventures, new product launches, and collaborative projects.
SEGMENTATION
Supermarkets/Hypermarkets Segment Held a 61.33% Market Share in 2019
The supermarkets/hypermarkets segment, which held a market share of approximately 61.33% in 2019, is expected to experience substantial growth. Key factors driving this increase include the wide range of product availability, convenient access, and attractive cashback and discount offers that continue to engage customers.
DRIVING FACTORS
Increasing Consumption of Immunity Boosting Food Products to Spur Demand
The rising prevalence of lifestyle-related disorders, such as diabetes and obesity, is driving demand for nutritious, well-balanced diets. According to the World Health Organization (WHO), global obesity rates have tripled since 1975. This increase in lifestyle-related health issues has spurred consumer interest in immunity-boosting products like probiotics. The growing integration of technology is also enabling businesses to better educate consumers on the health benefits of these products. These efforts are expected to further propel the growth of the global probiotics market throughout the forecast period.
REGIONAL INSIGHTS
Asia-Pacific to Remain at the Forefront; Increasing Consumption of Fermented Drinks to Aid Growth
The global probiotic bacteria market is expected to grow at the highest rate, with the Asia-Pacific region leading due to its traditional focus on balanced diets and the rising consumption of fermented foods that support gut health.
In North America, the probiotics market is also projected to grow significantly throughout the forecast period, reaching a market value of USD 8.30 billion in 2019. This growth is driven by the increasing prevalence of lifestyle-related illnesses and the presence of prominent companies dedicated to developing innovative products in the region between 2020 and 2032.
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COMPETITIVE LANDSCAPE
Major Companies Focus on Introducing Innovative Products to Strengthen Their Market Positions
Several prominent companies in the probiotics sector operate across global markets, consistently launching new products to meet rising consumer demand and expand their market presence. To strengthen their foothold, these leading corporations are expected to drive future market growth through strategies such as partnerships, mergers, and acquisitions aimed at expanding their distribution networks. These initiatives not only support sustained industry growth but also enhance brand visibility in the competitive probiotics landscape.
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