Probiotics Market Size Worth $111.21 Billion By 2030 | CAGR: 7.5%: Grand View Research, Inc.
SAN FRANCISCO, Feb. 10, 2022 /PRNewswire/ -- The global probiotics market size is expected to reach USD 111.21 billion by 2030, according to a new study by Grand View Research, Inc. It is expected to expand at a CAGR of 7.5% from 2021 to 2030. The increasing prominence of preventive healthcare is among the major factors propelling the demand for probiotics across the globe. The considerable production and consumption of probiotics are complemented by innovations in probiotics by key players, most notably in countries such as China, Japan, and India.
Key Insights & Findings from the report:
- Based on product, probiotic food and beverages emerged as the largest segment in 2021. Cereal-based fermented beverages with probiotic content are being consumed extensively across the globe, thereby favoring the growth of the segment
- By ingredient, the bacteria segment is expected to dominate the market throughout the forecast period. The segment is driven by the increasing employment of bacteria to maintain urogenital health/ vaginal health
- In terms of end-use, the animal probiotics segment is expected to register the fastest growth rate of 7.7% over the forecast period. Increasing focus on the enhancement of animal health has been fueling the demand for probiotics for animal nutrition
- Asia Pacific held the largest share in 2021 and is expected to be the fastest-growing regional market over the forecast period. New prebiotic launches, innovations in probiotic delivery systems, and the presence of key players have laid the platform for healthy and strong growth of the region over the forecast period
- The probiotic industry is subject to intense rivalry among prominent market players. Product innovation, mergers & acquisitions, and portfolio expansion are some of the key strategies deployed by the key players
Read 135 page market research report, "Probiotics Market Size, Share & Trends Analysis Report By Product (Probiotic Food & Beverages, Probiotic Dietary Supplements), By Ingredient (Bacteria, Yeast), By End Use, By Distribution Channel, And Segment Forecasts, 2021 - 2030", published by Grand View Research.
Following the growing demand for probiotics, key market participants have been investing in R&D activities to develop efficient probiotic strains. The probiotics industry has also witnessed advancements in delivery systems to enhance the delivery of probiotics in humans and animals Such developments are expected to emerge as a trend in the industry over the forecast period. In developed countries such as the U.S., probiotics are sold mainly in the form of dietary supplements. The demand for probiotic nutritional supplements has been spurred by the growing aging population and increased consumer interest in preventive healthcare.
Market players have introduced new products supplemented with probiotics in addition to other dietary supplements. Probiotic supplements containing different probiotic strains are available in various forms such as probiotic drops, tablets, and capsules. Manufacturers of private label and branded products are likely to continue to extend their product lines in the probiotic product categories. The growing product lines and diversification in the same are intended to make manufacturers capable of catering to diverse demand trends across the globe. The same factor is prompting retail channels to increase their production volume in accordance with changing consumer tastes and preferences. Such trends are expected to benefit the growth of the market.
Asia Pacific dominated the probiotics industry in 2021 with a share of over 40.0%. The region is expected to retain its prominent position throughout the forecast period. In the last decade, the region has garnered a significant response when it comes to the adoption of probiotics. This is attributed to the high health consciousness, coupled with the wider accessibility of probiotic products in this region. Another key observation in Asia Pacific with regard to the consumption of probiotics is the growing popularity of vegetarian probiotic products owing to a healthy increase in consumer vegetarianism.
The Asia Pacific market has witnessed new launches/product innovations by prominent market participants over the years. For instance, in February 2018, Yakult Danone introduced signature probiotic drinks in a new version in India. The product contained new formulations including Vitamin D & E along with Lactobacillus casei strain Shirota (LcS). Such developments are expected to surge in the region over the forecast period owing to the presence of a large consumer base.
Market Segmentation:
Grand View Research has segmented the global probiotics market on the basis of product, ingredient, end-use, distribution channel, and region:
- Probiotics Product Outlook (Revenue, USD Million, 2017 - 2030)
- Probiotic Food & Beverages
- Dairy
- Non-dairy
- Cereals
- Baked Food
- Fermented Meat
- Dry Food
- Probiotic Dietary Supplements
- Food Supplements
- Nutritional Supplements
- Specialty Supplements
- Infant Formula
- Animal Feed Probiotics
- Probiotics Ingredient Outlook (Revenue, USD Million, 2017 - 2030)
- Bacteria
- Yeast
- Probiotics End-use Outlook (Revenue, USD Million, 2017 - 2030)
- Human Probiotics
- Animal Probiotics
- Probiotics Distribution Channel Outlook (Revenue, USD Million, 2017 - 2030)
- Hypermarkets/Supermarkets
- Pharmacies/Drugstores
- Specialty Stores
- Online Stores
- Others
- Probiotics Regional Outlook (Revenue, USD Million, 2017 - 2030)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Asia Pacific
- China
- Japan
- India
- Central & South America
- Brazil
- Middle East & Africa
- Saudi Arabia
List of Key Players of Probiotics Market
- Arla Foods, Inc.
- BioGaia AB
- Chr. Hansen Holding A/S
- Danone
- Danisco A/S
- General Mills Inc.
- i-Health Inc.
- Lallemand Inc.
- Lifeway Foods, Inc.
- Mother Dairy Fruit & Vegetable Pvt. Ltd.
- Kerry
- Nestle S.A.
- Probi
- Yakult Honsha Co., Ltd.
Check out more studies related to other probiotic based supplements and consumables, published by Grand View Research:
- Probiotics Dietary Supplements Market – The global probiotics dietary supplements market size was estimated at USD 6,122.5 million in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 7.0% from 2020 to 2028. The prevalence of digestive disorders is multiplying at a faster rate, which is expected to result in increased demand for probiotic products.
- Probiotic Cosmetic Products Market – The global probiotic cosmetic products market is expected to grow at a compound annual growth rate (CAGR) of 6.5% from 2020 to 2027. With the growing acceptance as a dietary supplement, probiotics have a high demand in the cosmetics segment, which is driving the market growth.
- Probiotic Drink Market – The global probiotic drink market size is expected to expand at a compound annual growth rate (CAGR) of 6.1% from 2020 to 2027. The growing demand for functional beverages worldwide to improve digestive health is supporting the growth of the market over the years.
Browse through Grand View Research's coverage of the Global Nutraceuticals & Functional Foods Industry.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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Grand View Research, Inc.
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