Who are the key vendors in the Probiotics Market?

The main players dominate the market due to their wide globally reach and reliable distribution networks. These players concentrate on a variety of commercial methods, such as establishing long-term supply contracts with numerous distribution channels, in order to survive competition. Due to the presence of a target consumer base in the region, major companies have been increasingly focused on entering the South East Asian markets all over the years. 'Danone S.A.', 'Nestlé S.A.', 'Yakult Honsha Co., Ltd.', 'Chr. Hansen Holding A/S', 'Probi AB', 'Kerry Group plc', 'Lallemand Inc.', 'BioGaia AB', 'DuPont de Nemours, Inc.', 'Sabinsa Corporation', 'Procter & Gamble Co.', 'Archer Daniels Midland Company', 'Amul', 'General Mills Inc.', 'Cargill, Incorporated', 'Biocodex', 'Lifeway Foods Inc.', 'Groupe Lactalis S.A.', 'Nature's Bounty Co.', 'Health & Happiness (H&H) International Holdings Ltd.'

What is the key driver of Probiotics Market?

The trend toward natural and organic products is driving the growth of the probiotics market, as consumers seek out products that are free from synthetic ingredients and chemicals.

What is the key market trend for Probiotics Market?

Growing Demand for Probiotic Supplements: The demand for probiotic supplements is increasing, as consumers are becoming more health-conscious and are looking for ways to improve their digestive health, boost their immune system, and enhance overall well-being.

Which region accounted for the largest share in Probiotics Market?

Asia Pacific dominated the market with a revenue share of more than 40.0%. Due to the intense competitive techniques used by the firms, the region is seeing a considerable rise in consumer awareness. The demand from countries like Australia, China, and India is very strong, which is encouraging worldwide growth. The increasing population, rising disposable income, and improved living standards are also predicted to assist the expanding regional market.

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 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.

Probiotics Market Report Snapshots

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FAQs

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).

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. '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)'

Increasing Number of Digestive Disorders Growing Variety of Probiotics Products

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.

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.

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