Global Probiotics Market Insights Report 2024: Rising Demand for Functional Dairy Products Boosts Market, Key Trends Explored to 2029

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Feb 09, 2024, 21:15 ET

DUBLIN, Feb. 9, 2024 /PRNewswire/ -- The "Global Probiotics Market - Focused Insights 2024-2029" report has been added to ResearchAndMarkets.com's offering.

The global probiotics market is expected to reach $115.07 billion by 2029, growing at a CAGR of 8.39%

The growing awareness about the health benefits of probiotics, such as improved gut health and overall digestive function, and increased consumption of functional dairy products is anticipated to boost the growth of the global market.

This report offers market size & forecast data for the global probiotics market. The revenue generated from the sale of human probiotic products is included in the report. The income generated from animal probiotics, plant probiotics, and probiotic strains is excluded from the report's scope. This report provides a comprehensive and current market scenario of the global probiotic market, including the global probiotic market size, anticipated market forecast, relevant market segmentations, and industry trends.

The study considers a detailed scenario of the present global probiotics market and its market dynamics for 2024-2029. It covers a detailed overview of several market growth enablers, restraints, and trends. The report offers both the demand and supply aspects of the market. It profiles and examines leading companies and other prominent players operating in the market.

KEY HIGHLIGHTS

By product type, functional food and beverages accounted for the highest share of 83.06% in 2023 and are projected to grow at the highest CAGR of 8.62% during the forecast period. The increasing demand for functional food and beverages is due to the rising awareness of the health benefits of dairy-based probiotics and the increased consumption of functional dairy products for digestive wellness.
By Ingredient type, the bacteria segment accounted for the highest share of 88.07% in 2023 and is projected to grow at the highest CAGR of 8.57% during the forecast period. Factors such as the high usage of bacteria and broader applications of bacteria in digestive wellness are expected to drive the growth of this segment.
By age group, the adult segment accounted for the highest share of 75.31% in 2023 and is projected to grow at the highest CAGR of 8.23% during the forecast period. The rising prevalence of chronic diseases, increased penetration of probiotics, and rising awareness of health benefits in adults are some factors that drive the segment's growth.
By Distribution Channel, the supermarkets and hypermarkets segment accounted for the highest share of 43.60% in 2023 and is projected to grow at the highest CAGR of 8.12% during the forecast period. The expansion of supermarkets and hypermarkets is the primary reason for the increasing demand for probiotics globally.
By Application, the digestive health segment accounted for the highest share of 76.52% in 2023 and is projected to grow at the highest CAGR of 8.21% during the forecast period. The high prevalence of digestive diseases is the primary reason for the increasing demand for probiotics globally.
Nestle, Probi, Danone, Chr.Hansen and Yakult Honsha Co., Ltd are some of the leading players currently dominating the global probiotics market. The major players focus on strategic acquisitions and collaborations with emerging players to enter the probiotics market and gain access to commercially launched products.

VENDORS LIST

Nestle
Probi
Danone A/S
Chr.Hansen Holdings Inc
Yakult Honsha Co.,Ltd.
Arla Foods
International Flavours & Fragrances Inc.
ADM
General Mills Inc
BioGaia
AB-Biotics
DuPont
Lallemand Inc (Lallemand)
Lifeway Foods Inc
Kerry Group plc
Sanzyme Biologics
Mother Dairy Fruit & Vegetable Pvt Ltd (Mother Dairy)
Deerland Probiotics & Enzymes
Sacco System
Cultech
Goerlich Pharma
Winclove Probiotics
China-Biotics Inc.
COSMAX NBT, Inc.
PepsiCo
Morinaga Milk Industry Co., Ltd
AllergoSan USA, LLC
Teva Pharmaceuticals
Novozymes
Wren Laboratories
PanTheryx
DSM-Firmenich
Sanofi

REPORT HIGHLIGHTS

PRODUCT SEGMENTATION & FORECAST

Product type
Functional Food & Beverages
Dietary Supplements
Ingredients type
Bacteria
Yeast
Age Group
Adults
Pediatrics
Distribution Channels
Supermarkets & Hypermarkets
Departmental Stores
Drug Stores
Online Stores
Application
Digestive Health
Immune Health
Metabolic Health
Others

MARKET STRUCTURE

Market Dynamics
Competitive Landscape of Probiotics Market
Key Vendors
Other Prominent Vendors

For more information about this report visit https://www.researchandmarkets.com/r/ngslal

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