Probiotics Market Size, Shares and Forecast to 2032
The global probiotics market size is expected to showcase a considerable growth by reachingUSD 147.99 billion by 2032 while exhibiting a CAGR of 8.37% between 2020 and 2032. The increasing demand for healthy probiotics fortified food products and the growing adoption of technology by the companies is attributed to the growth of the market. This information is published by Fortune Business Insights, in its latest report, 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 report further mentions that the market stood at USD 48.88 billion in 2019.
Information Source: https://www.fortunebusinessinsights.com/industry-reports/probiotics-market-100083
Increasing Consumption of Healthy Food Products amid COVID-19 to Stoke Demand
The individuals are eating a nutritious, well-balanced diet to reduce their chance of contracting the new coronavirus. The market is anticipated to increase in the near future due to the growing demand for immunity-boosting goods like probiotics that promote gut health and general wellness.
Probiotics are good bacteria and yeasts that support the growth of the digestive system as a whole and maintain gut health. Some of these widely used supplements are Saccharomyces, Lactobacillus, and Bifidobacterium, which, when consistently eaten, provide many health benefits. In addition to improving the intestines, they help lower sadness and encourage heart health in the user. They are typically added to dietary items like yogurt and are regarded as an international source of immunity-boosting nutrients.
What does the Report Include?
The market report provides a thorough analysis of the opportunities, challenges, and growth drivers and restraints that the industry is expected to encounter throughout the forecast period. The study also offers a thorough analysis of how regional market trends will impact the market’s growth over the course of the forecast period. It contains data that our research analysts obtained by employing a variety of approaches, including the counsel of knowledgeable industry professionals. The competitive landscape provides further in-depth information about the tactics used by the companies to sustain their market dominance between 2020 and 2027, including product launches, alliances, mergers and acquisitions, and collaborations.
DRIVING FACTORS
Increasing Consumption of Immunity Boosting Food Products to Spur Demand
The need for a healthy, balanced diet is being driven by the rising incidence of lifestyle disorders like diabetes and obesity. The World Health Organization (WHO) reports that since 1975, the percentage of obese persons worldwide has tripled. The demand for immunity-boosting products like probiotics is rising globally at an alarming rate due to the rise in lifestyle disorders. Furthermore, as technology becomes more widely used, producers are able to inform customers about the advantages of following such a diet in terms of health. Over the course of the forecast period, these activities are anticipated to further support the growth of the worldwide probiotic bacteria market.
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.
REGIONAL INSIGHTS
Asia-Pacific to Remain at the Forefront; Increasing Consumption of Fermented Drinks to Aid Growth
Asia-Pacific is anticipated to develop at the fastest rate of any region and to occupy the top spot in the world market for probiotic bacteria. This dominance can be linked to the rising use of fermented foods, which promote gut health and a well-balanced diet in general.
North America’s market, which was valued at USD 8.30 billion in 2019, is expected to rise significantly over the course of the projected year. This can be attributed to a number of things, including the rising incidence of lifestyle-related illnesses and the existence of well-known producers who are concentrating on creating cutting-edge goods in the area between 2020 and 2027.
COMPETITIVE LANDSCAPE
Major Companies Focus on Introducing Innovative Products to Strengthen Their Market Positions
The probiotics market is divided into multiple large firms operating in different regions of the world. These companies are attempting to stay in the market by launching new probiotic products in an attempt to meet the growing demand and strengthen their market share. Future market growth will be aided by major companies implementing methods like collaboration, partnership, and merger and acquisition to broaden their distribution network.
Industry Development:
- June 2020 – Pendulum Therapeutics announced the launch of Pendulum Glucose Control, the first-ever medical probiotic that is proven to lower blood sugar spike and A1C.
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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