Probiotics Market to Reach $100.10 Billion by 2031 - Exclusive Report by Meticulous Research®

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Jun 03, 2024, 10:16 ET

REDDING, Calif., June 3, 2024 /PRNewswire/ -- According to a new market research report titled, 'Probiotics Market Size, Share, Forecast, & Trends Analysis by Strain (Bacillus), Product Type (Dairy {Yogurt}, Baked Food}, Animal Feed), Form (Liquid), Sales Channel (Super Markets), End User (Human {Adults, Senior}, Animal) - Global Forecast To 2031", the Probiotics market is projected to reach $100.10 billion by 2031, at a CAGR of 6.7% during the forecast period 2024–2031.

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Probiotics are live microorganisms that offer health benefits when consumed or applied to the body. They can be found in yogurt and other fermented foods, dietary supplements, and beauty products. Beyond traditional uses, such as in yogurt, new areas like application in vaginal and urinary tract disorders are gaining traction, driven by the rising preference for antibiotic-free treatments. As scientific research expands into probiotics' applications for various health issues, including vaginal & urinary tract disorders, the demand for probiotics is anticipated to increase in the coming years.

Moreover, increasing consumer awareness of the health benefits associated with probiotics, their role as antibiotic alternatives, growing use in infant nutrition, and the rapid growth in e-commerce are expected to create market growth opportunities. However, stringent regulatory frameworks pertaining to probiotics may restrain market growth.

In recent years, the probiotics market has witnessed several product launches, expansions, mergers & acquisitions, and partnerships, agreements, and collaborations. The key players operating in the probiotics market are Probi AB (Sweden), BioGaia AB (Sweden), Nestlé S.A. (Switzerland), Novonesis Group (Denmark), Danone S.A. (France), Yakult Honsha Co., Ltd. (Japan), Lallemand Inc. (Canada), Lifeway Foods Inc. (U.S.), International Flavors & Fragrances Inc. (U.S.), Kerry Group plc (Ireland), Archer-Daniels-Midland Company (U.S.), KeVita, Inc. (a part of PepsiCo Inc.) (U.S.), Infinant Health Inc. (U.S.), Cell Biotech Co., Ltd. (Korea), and Probiotical S.p.A. (Italy).

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Key Findings in the Global Probiotics Market Study:

Among the strains covered in this report, the bacteria strain products segment is expected to account for the larger share of 86.4% of the probiotics market in 2024. This segment's large market share can be attributed to the increasing awareness and rising preference for nutrient-rich food products among health-conscious consumers, along with the widespread use of bacteria strain probiotics in various commercial dairy products like sour and fresh milk, yogurt, and cheese.

Among the product types covered in this report, the functional food & beverage segment is expected to account for the largest share of 68.5% of the probiotics market in 2024. This segment's large market share can be attributed to the growing consumer interest in functional food, particularly probiotics that can support digestive health, rising health and wellness trends, and the growing application of probiotics in yogurt.

Among the forms covered in this report, the dry probiotics segment is projected to register a higher CAGR of 8.5% during the forecast period. The growth of this segment can be attributed to the advantages offered by dry probiotics compared to the liquid form, including a longer shelf life, better handling and transport capabilities, ease of use, and cost-effectiveness.

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Among the sales channels covered in this report, the offline sales segment is expected to account for the largest share of 75.3% of the probiotics market in 2024. This segment's large market share can be attributed to the increasing per capita disposable incomes, rising adoption of healthy eating habits, and the growing urban population. Additionally, the proliferation of pharmacies and the rapid growth of the probiotic supplements industry are expected to offer significant growth opportunities for players operating in the offline market.

Among the end users covered in this report, the animal segment is projected to register a higher CAGR of 7.7% during the forecast period. This growth can be attributed to several factors, including increasing pressure to reduce the use of antibiotics in feed and the rising demand for meat and meat products, which are expected to drive the demand for probiotics in animal feed formulations.

Based on geography, Asia-Pacific is expected to account for the largest share of 45.6% of the probiotics market in 2024. The Asia-Pacific probiotics market is estimated to be worth USD 29.0 billion in 2024. Asia-Pacific's significant market share can be attributed to the increasing shift towards the adoption of non-dairy probiotic food (cereal-based fruit and vegetable juices), coupled with the presence of many companies in the Chinese digestive health ingredient market. Additionally, the rising consumer interest in probiotic supplements and a growing focus on improving immune health, driven by the understanding of the links between microbial activities in the gut and their effects on immunity, contributes to the increasing demand for probiotics across the region.

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Scope of the Report:

Probiotics Market Assessment -by Strain

Bacteria
- Multi Bacterial Strain Products
- Lactobacillus
- Bifidobacterium
- Streptococcus Thermophilus
- Bacillus
- Other Bacterial Strain Products
Yeast

Probiotics Market Assessment—by Product Type

Functional Food & Beverages
- Dairy Products
  - Yogurt
  - Cheese
  - Kefir
  - Probiotic Milk
  - Other Dairy-Based Products
- Non-dairy Products
  - Non-dairy Yogurt
  - Non-dairy Kefir
  - Fruit & Vegetable Juices
  - Baked Food
  - Other Non-dairy Products
Medical & Dietary Supplements
- Nutritional Supplements
- Specialty Nutrients
- Infant Formula
Animal Feed

Probiotics Market Assessment—by Form

Liquid Probiotics
Dry Probiotics
- Capsules & Tablets
- Powder
- Semi-solid & Gels
- Stick Packs

Probiotics Market Assessment—by Sales Channel

Offline Sales
- Super Markets
- Pharmacies
- Health Food Stores
Online Sales

Probiotics Market Assessment—by End User

Humans
- Adults (18-65 Years)
- Seniors (Above 65 Years)
- Children & Adolescents (<18 Years)
Animals
- Poultry
- Ruminants
- Swine
- Aquaculture
- Pets
- Other Animals

Probiotics Market Assessment—by Geography

North America
- U.S.
- Canada
Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Russia
- Rest of Europe
Asia-Pacific
- China
- Japan
- South Korea
- Australia
- India
- Rest of Asia-Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
Middle East & Africa

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Prebiotics Market by Ingredient (Inulin, Fructo Oligosaccharides, Galacto Oligosaccharides, Mannan Oligosaccharides), Application (Food & Beverages {Dairy Products, Beverages, Infant Food Products}, Dietary Supplements), and Geography - Global Forecast to 2029

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