USD 62.53 billion
Probiotics Market Size, Share, Growth Analysis, By Product Type(Functional Food & Beverages (Dairy Products, Non-dairy Beverages, Infant Formula, Cereals)), By Ingredient(Bacterial (Lactobacilli [Lactobacillus Acidophilus, Lactobacillus Rhamnosus, Lactobacillus Casei, Lactobacillus Reuteri]), By End-use(Human, Animal), By Distribution Channel(Hypermarkets/SuperMarkets, Pharmacies/Drugstores, Specialty Stores, Online), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG30I2299 |
Region:
Global |
Published Date: August, 2024
Pages:
198
|Tables:
117
|Figures:
77
Probiotics Market Insights
Global Probiotics Market size was valued at USD 62.53 Billion in 2022 and is poised to grow from USD 67.22 Billion in 2023 to USD 119.88 Billion by 2031, at a CAGR of 7.5% over the forecast period (2024–2031).
The Probiotics Market has witnessed considerable growth in recent years owing to rising awareness among consumers about health and wellness, mainly associated with digestive health. This has notably propelled the demand for probiotic supplements. In addition, growing interest in functional and natural foods with several health benefits besides basic nutrition is fueling the market growth. Nonetheless, the market is negatively impacted by lack of standardization and regulatory concerns. Presently, lack of standardization in probiotic formulation and strains, which could result in fluctuations in consumer confusion, is hampering market growth. Also, different nations have diverse rules and standards for the use of probiotics, which may create obstacles for new entrants and approval of products. This could hamper the growth of the probiotics market. Yet, the major potential for creating novel and distinct probiotic products for mental health, immune support, and weight management is an opportunity for the market players.
US Probiotics Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024–2031
Global Market Size
Largest Segment
Bacteria
Fastest Growth
Yeast
Growth Rate
7.5% CAGR
Global Probiotics Market ($ Bn)
Country Share for Asia Pacific Region (%)
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Probiotics Market Segmental Analysis
Global Probiotics Market is segmented by Product Type, Ingredient, End-Use, Distribution Channel and Region. Based on Product Type, the market is segmented into Functional Food & Beverages, Dietary Supplements, and Feed. Based on Ingredient, the market is segmented into Bacterial and Yeast. Based on End-Use, the market is segmented into Human and Animal. Based on Distribution Channel, the market is segmented into Hypermarkets/SuperMarkets, Pharmacies/Drugstores, Specialty Stores, Online, and Convenience Stores/Small Retail Formats. By Region, the market is segmented into North America, Europe, Asia-Pacific, Middle East and Africa, and Latin America.
Analysis by Product Type
Based on product type, the probiotics market is categorized into functional food & beverages, dietary supplements, and feed. The functional food & beverages segment is dominating the market owing to increasing consumer demand for convenience. Functional foods and beverages are convenient for users to incorporate probiotics in their regular diets. Products, such as kefir, yogurt, and probiotic drinks can be easily consumed and used in busy lifestyles. Moreover, the huge variety and amazing tastes offered by these products are propelling the segment’s growth.
On the other hand, the dietary supplements segment is projected to witness considerable growth in the market in the coming years owing to the growing popularity of health benefits. These supplements mostly highlight specific health benefits like enhancing gut health, supporting mental health, and improving immune function. Such claims highlight to consumers, which ultimately increased their demand, thus the segment growth.
Analysis by Ingredient
Based on ingredient, the bacterial segment held a majority market share in the past years and is expected to lead in future as well owing to well-established effectiveness. Probiotic bacteria are well known for their several benefits like improving immune system, aid in digestive health, and potentially enhancing mental health. Strong scientific support makes these probiotics a preferred choice among others, thus, driving the segment growth.
However, the yeast segment is expected to grow at a steady rate over the forecast period owing to unique health advantages. Yeast probiotics like Saccharomyces boulardii, offer health benefits that are unique from the bacterial probiotics. For example, yeast helps in the management of diarrhea, mainly travel-related and antibiotic-associated diarrhea, and aid gut health, driving the segment’s growth.
Global Probiotics Market By Ingredient (%)
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Probiotics Market Regional Insights
Geographically, Asia-Pacific is expected to hold a dominant share of the market owing to strong tradition of consuming fermented foods and increasing health awareness. Most Asian nations have the culture of consuming foods that include probiotics like tempeh, kimchi, yogurt, and miso. This traditional demand of fermented foods has been fueling the growth of probiotics market in the region. Also, increased health awareness throughout the region as consumers are becoming aware about the advantages offered by probiotics for overall well-being is significantly impacting the market growth in the region. The leading companies operating in the region include Yakult Honsha, Nestle SA, Groupe Danone, Danone SA, PepsiCo Inc. and more.
North America is expected to be the fastest growing region among others due to healthy consumer education and awareness and strong demand and mature market. People in North America are well aware of probiotics and have enough knowledge regarding associated health benefits. This high level of awareness is propelling the demand for such products, hence aiding the market growth in the region. Also, mature probiotics market with strong demand for functional and dietary supplements is driving the market growth in the region.
Global Probiotics Market By Geography
- Largest
- Fastest
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Probiotics Market Dynamics
Drivers
- Increasing Number of Digestive Disorders Growing Variety of Probiotics Products
The probiotics market is majorly driven by growing cases of digestive illnesses. The growth of digestive imbalances and disorders has resulted in higher interest in probiotics as a cure for maintaining a healthy gut. In addition, the market is also fueled by increasing product range comprising snacks, yogurts, beverages, and more that offer multiple options to consumers.
- Growing Senior Population and Rising Focus on Preventive Healthcare
Growing geriatric population is prone to a number of digestive problems and demand better solutions to maintain their health. This ultimately increases the demand for probiotics products, thus driving the market growth. Also, growing inclination towards preventive healthcare instead of reactive therapies is motivating the adoption of probiotics to aid overall well-being.
Restraints
- Restricted Scientific Evidence and High Costs
A few health claims lack strong scientific backing despite growing proof of the advantages of probiotics. This is hampering the growth of the market. In addition, the market is restrained by significant cost required for creating and producing quality probiotic products. This could prevent consumers from buying such pricy products and also limit their trust and acceptance.
- Growing Competition from Substitute Products and Storage Issues
The market is experiencing strong competition from substitute products and health products, which could limit the market growth. Moreover, the market is restrained by the need for better storage facilities for probiotics. Lack of proper storage facilities might impact their efficiency and concerns associated with product stability and shelf-life.
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Probiotics Market Competitive Landscape
Probiotics Market providers need to focus on maximizing their business scope by reaching into new markets and developing probiotics for different industrial and personal uses. Raising new capital to fund their R&D and business expansion efforts will be essential for new probiotics companies going forward. The development of custom robots for specific applications across different industry verticals will also help companies expand their sales potential in the future.
Top Player’s Company Profiles
- DanoneA. (France)
- Nestlé S.A. (Switzerland)
- Yakult Honsha Co., Ltd. (Japan)
- Hansen Holding A/S (Denmark)
- Probi AB (Sweden)
- Kerry Group plc (Ireland)
- Lallemand Inc. (Canada)
- BioGaia AB (Sweden)
- Sabinsa Corporation (US)
- Procter & Gamble Co. (US)
- Archer Daniels Midland Company (US)
- Amul (India)
- General Mills Inc. (US)
- Cargill, Incorporated (US)
- Biocodex (France)
- Lifeway Foods Inc. (US)
- Groupe Lactalis S.A. (France)
- Nature's Bounty Co. (US)
- Health & Happiness (H&H) International Holdings Ltd. (Hong Kong)
- I-HEALTH, INC. (US)
Recent Developments
- In July 2023, Danone, with its expertise, developed a probiotic supplement, named Almimama that can help decrease the cases of mastitis affecting one out of four new mothers.
- In July 2024, Yakult Danone India grows its product line with the launch of Yakult Light Mango Flavour. This product adds a unique refreshing twist to its beverages (probiotics product line).
- In February 2023, ADM is all set to expand its pro and postbiotic manufacturing to keep up with the expected growth in the coming years. The business is unveiling a new building in Spain to scale postbiotics and probiotics production and satisfy the projected demand in the coming years.
Probiotics Key Market Trends
- Discovery of Next-Generation Strains: Study of next-generation strains, such as Bacteroides and Akkermansia underline their potential advantages on metabolism and immune function. Also, the growing use of non-dairy carriers like juices (fruit) for probiotics is gaining attention because of their acceptance from different age-groups and inclusivity.
Probiotics Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, growing awareness of gut health and the rising popularity of preventive healthcare are fueling the probiotics market. Nonetheless, lack of standardization and high costs associated with the production of probiotics are projected to create barriers for Probiotics market growth. Asia-Pacific is projected to dominate the market due to growing health awareness and increasing demand for probiotic products. Moreover, emerging markets in developing nations and growing demand for personalized nutrition are some of the opportunities for market growth.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 62.53 Billion |
| Market size value in 2031 | USD 119.88 Billion |
| Growth Rate | 7.5% |
| Base year | 2023 |
| Forecast period | 2024–2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Probiotics Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Probiotics Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Probiotics Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Probiotics Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Probiotics Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Probiotics Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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