The global probiotics market is projected to reach USD 147.99 billion by 2032, growing at a compound annual growth rate (CAGR) of 8.37% from 2020 to 2032. The expansion of the market is driven by the increasing demand for health-oriented food products enriched with probiotics and the growing adoption of technology by businesses.
According to the latest 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 was valued at USD 48.88 billion in 2019 and is expected to experience substantial 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 seek to reduce their risk of contracting the new coronavirus through a nutritious and well-balanced diet, the market for immunity-boosting products, such as probiotics, is expected to grow. Probiotics, which are beneficial bacteria and yeasts, play a crucial role in supporting digestive health and maintaining intestinal balance. Supplements like Lactobacillus, Bifidobacterium, and Saccharomyces are widely available and offer various health benefits when taken regularly. Beyond improving gut health, probiotics are recognized for their positive effects on mental well-being and heart health. They are commonly incorporated into foods such as yogurt to enhance their immune-boosting properties.
What does the Report Include?
Throughout the forecast period, the industry is anticipated to face various opportunities, challenges, growth factors, and constraints, all of which are meticulously analyzed in the market report. The report also provides a detailed examination of how regional market dynamics will influence growth over this period. Our research analysts have employed a range of methods, including insights from experienced industry professionals, to gather this information. Additionally, the competitive landscape section offers comprehensive details on the strategies used by companies to maintain their market leadership from 2020 to 2027. These strategies include joint ventures, product launches, mergers and acquisitions, and collaborative efforts.
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.
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 nutritious and balanced diet. According to the World Health Organization (WHO), the global obesity rate has tripled since 1975. This rise in lifestyle-related health issues is significantly boosting the demand for immunity-enhancing products, including probiotics. With the growing use of technology, companies are better equipped to educate consumers about the health benefits of these products. Such initiatives are expected to further fuel the growth of the global probiotic bacteria market throughout the forecast period
REGIONAL INSIGHTS
Asia-Pacific to Remain at the Forefront; Increasing Consumption of Fermented Drinks to Aid Growth
It is predicted that Asia-Pacific will grow at the fastest rate of any region and lead the global probiotic bacteria market. This dominance can be attributed to a generally well-balanced diet and the increase in the consumption of fermented foods, which promote gut health.
The North American market is anticipated to grow significantly over the course of the projection period, with a 2019 worth of USD 8.30 billion. This increase can be attributed to a number of factors, including the rising prevalence of lifestyle-related disorders and the presence of well-known manufacturers who are focused on developing innovative goods in the region between 2020 and 2027.
COMPETITIVE LANDSCAPE
Major Companies Focus on Introducing Innovative Products to Strengthen Their Market Positions
The probiotics industry is split up into several notable businesses that operate internationally in various areas. These companies are trying to stay in the industry by bringing out new probiotic products to meet the growing demand and grow their market share. Big businesses will encourage future market growth by implementing strategies to widen their distribution networks, such as collaboration, partnerships, and mergers and acquisitions.
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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