Report ID: UCMIG30L2137
Report ID:
UCMIG30L2137 |
Region:
Global |
Published Date: Upcoming |
Pages:
165
| Tables: 55 | Figures: 60
The global probiotics food and cosmetics market has demonstrated a robust trajectory, as evidenced by its market size reaching USD 61.24 billion in 2022 and an anticipated expansion to approximately USD 122.37 billion by 2032, reflecting a commendable CAGR of 7.17% during the forecast period spanning from 2023 to 2032. This growth is underpinned by the increasing awareness of the benefits associated with probiotics in promoting digestive health and skin wellness, driving the demand for probiotics-infused food and cosmetic products. The Asia Pacific region notably contributed to the market's momentum, securing a substantial revenue share of over 40.0% in 2021, attributed to a burgeoning population, rising disposable incomes, and a growing inclination towards health-conscious and natural-based beauty solutions. As consumers worldwide seek holistic well-being and sustainable skincare options, market players are expected to focus on innovative product formulations, rigorous research, and strategic collaborations to harness the full potential of this expanding market landscape.
This report is being written to illustrate the market opportunity by region and by segments, indicating opportunity areas for the vendors to tap upon. To estimate the opportunity, it was very important to understand the current market scenario and the way it will grow in future.
Production and consumption patterns are being carefully compared to forecast the market. Other factors considered to forecast the market are the growth of the adjacent market, revenue growth of the key market vendors, scenario-based analysis, and market segment growth.
The market size was determined by estimating the market through a top-down and bottom-up approach, which was further validated with industry interviews. Considering the nature of the market we derived the Personal Products by segment aggregation, the contribution of the Personal Products in Household & Personal Products and vendor share.
To determine the growth of the market factors such as drivers, trends, restraints, and opportunities were identified, and the impact of these factors was analyzed to determine the market growth. To understand the market growth in detail, we have analyzed the year-on-year growth of the market. Also, historic growth rates were compared to determine growth patterns.
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Report ID: UCMIG30L2137