The Probiotics Market is expected to generate USD 147.99 billion in revenue by 2032, growing at a compound annual growth rate (CAGR) of 8.37% from 2020 to 2032. This growth is largely fueled by increasing consumer interest in health-centric probiotic products and the adoption of advanced technologies by industry players.
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, indicates that the market, which was valued at USD 48.88 billion in 2019, is projected to witness significant expansion over the forecast period.
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 focus on lowering their risk of illnesses like COVID-19 by following a healthy, balanced diet, demand for immunity-boosting products such as probiotics is expected to grow. Probiotics, made up of beneficial bacteria and yeasts, play an essential role in supporting gut health and digestive balance. Commonly available in supplements containing strains like Lactobacillus, Bifidobacterium, and Saccharomyces, probiotics offer numerous health benefits with regular consumption. Beyond improving gastrointestinal health, probiotics are also recognized for their positive effects on heart and brain health. These beneficial bacteria are often added to foods like yogurt, enhancing their immune-supporting qualities.
What does the Report Include?
The probiotics industry is anticipated to face various opportunities, challenges, growth drivers, and obstacles throughout the forecast period, all thoroughly examined in the market report. The study also explores regional market characteristics and their expected influence on industry growth. Insights have been collected by our research analysts through multiple methods, including guidance from seasoned industry experts. Furthermore, the report’s competitive landscape section provides a detailed look at the strategies companies are using to maintain market leadership from 2020 to 2032. Key strategies include mergers and acquisitions, joint ventures, new product launches, and collaborative initiatives.
SEGMENTATION
Supermarkets/Hypermarkets Segment Held a 61.33% Market Share in 2019
The supermarkets/hypermarkets segment, which accounted for about 61.33% of the market share in 2019, is projected to see significant growth. This increase is largely driven by factors such as a broad selection of products, easy accessibility, and appealing cashback and discount offers that continue to attract and retain customers.
DRIVING FACTORS
Increasing Consumption of Immunity Boosting Food Products to Spur Demand
The increasing rates of lifestyle-related disorders, including diabetes and obesity, are fueling demand for nutritious, balanced diets. According to the World Health Organization (WHO), global obesity rates have tripled since 1975, heightening interest in immunity-boosting products like probiotics. Additionally, advancements in technology are helping businesses educate consumers on the health benefits of probiotics, further accelerating growth in the global probiotics market over 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 anticipated to experience the fastest growth, with the Asia-Pacific region at the forefront due to its traditional emphasis on balanced diets and the rising popularity of fermented foods that promote gut health.
In North America, the probiotics market is also projected to expand significantly over the forecast period, having reached a market value of USD 8.30 billion in 2019. This growth is driven by the increasing incidence of lifestyle-related illnesses and the presence of leading companies focused on developing innovative products in the region from 2020 to 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 globally, regularly launching new products to meet rising consumer demand and broaden their market presence. To reinforce their position, these leading corporations are expected to drive future growth through strategies like partnerships, mergers, and acquisitions that expand their distribution networks. Such initiatives not only foster sustained industry growth but also boost brand visibility within the competitive probiotics landscape.
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