Global Probiotics Market Size & Growth Trends Analysis Report

The probiotics industry is expanding quickly due to several factors; primarily there has been an increase in demand due to growing consumer awareness of the potential health advantages of probiotics, notably for immune support and digestive health. Probiotics have become increasingly well-liked as a feasible alternative as people grow more health-conscious and look for natural preventative healthcare treatments.

Subsequently, ongoing efforts in research & development have produced innovative and diverse products. To meet certain health requirements and customer preferences, businesses are creating innovative probiotic strains, formulations, and delivery techniques. The market's variety enables businesses to target various demographics and health issues, which promotes continued development.

Moreover, the market's accessibility has been greatly increased by the growth of e-commerce and online sales platforms. Regardless of where they live, consumers now have easy access to probiotic products, which is boosting market penetration and sales. The probiotics market has also shown considerable development prospects due to expanding consumer awareness, probiotic benefits education, and interest in holistic wellness and preventative healthcare. Market growth may be accelerated by developments in personalized probiotics, vegan and plant-based cuisine, and partnerships with healthcare experts.

However, numerous risks might impede the probiotics market's expansion and stability. The growing regulatory scrutiny of the health claims made by probiotic products is one of the major obstacles. Increased scrutiny of scientific data and the need for supported statements might result in legal problems and erode customer confidence. The safety of consumers is also placed at risk by counterfeit and subpar probiotic products, which also damage the standing of well-known companies. Price wars might result from increased market rivalry, which would hurt profit margins and perhaps threaten the viability of smaller businesses. Future pandemics or supply chain disruptions might cause manufacturing and distribution to be disrupted, which would further impair consumer demand.

Impact of COVID-19

The COVID-19 pandemic presented both potential and problems for the probiotics industry. Consumer interest in goods that boost general well-being, like probiotics, increased as the pandemic heightened worries about health and immunity. Probiotics were widely used to boost gut health and immune systems, which raised demand for probiotic supplements and functional foods.

However, due to lockdown and travel restrictions, the probiotics sector also experienced interruptions in supply chains and production procedures. Additionally, as these establishments served as crucial conduits for the distribution of probiotic goods, the closing of gyms, fitness centers, and health food stores had a negative influence on the industry. In order to access customers during the lockdowns, many businesses moved their attention to e-commerce and online sales, highlighting the significance of digital marketing and direct-to-consumer techniques.

The probiotics market was also impacted by changing consumer buying patterns and economic uncertainty. More cost-conscious consumers flocked to items that offered good value. As a result, some expensive premium probiotic products grew more slowly than less expensive ones.

Segmentation

The market for probiotics is segmented on the basis of source, form, end-use, distributive channel, and application outlook. The source segment of the probiotics market is bifurcated into bacteria, yeast, and other microbes. With a revenue share of more than 78%, the bacteria category dominated the global market in 2022. The form segment of the probiotics market is sub-segmented into liquid and dry. Both liquid and dry variations of these probiotics are offered in an assortment of formulations. The end-use segment of probiotics can be classified into animal and human probiotics. With a revenue share of over 90.7%, the human probiotics market sector held the top spot in the overall market in 2022. In terms of distribution channels, this market can be segmented into hypermarkets & supermarkets, specialty stores, pharmacies, and online channels. Supermarkets and hypermarkets are the probiotic’s most common distribution channels. Its market value is anticipated to be USD 19.15 billion in 2022. The application segment for the probiotics market includes functional food and beverages, livestock feed, and nutritional supplements as its sub-segments.

Regional Analysis

Globally, the probiotics market shows notable geographical variances. The Asia-Pacific is the largest region dominating the global probiotics market. With a revenue share of over 42.10% in the global market in 2022, Asia Pacific has dominated the market. Similarly, due to growing health awareness, ongoing product innovation, and the presence of significant probiotic producers, the U.S. and Canada are the major players in the North America probiotic market.

Europe has a sizable market share because of a thriving natural and functional food sector and a booming health and wellness business. Brazil and Mexico stand out as significant contributors to Latin America due to the region's growing emphasis on digestive health and the inclusion of probiotics in functional foods and drinks.

Additionally, according to a survey conducted by the Natural Marketing Institute in May 2020, utilization of probiotics increased dramatically that year. According to the study, the proportion of Americans who use probiotics has climbed by 66%, while the number of new users of probiotics in Italy has increased by 188%, and the proportion of probiotic users in China has increased by 108% during the preceding six months. As a consequence, the market growth in 2020 was greatly helped by the sudden rise in probiotic users.

Competitive Analysis

The probiotics industry is characterized by a fierce rivalry that is being fuelled by an abundance of businesses fighting for market dominance. Companies make large investments in R&D to produce novel probiotic strains and formulations that target certain health issues with the goal of satisfying varied customer needs. In this cutthroat marketplace, elements including brand recognition, product caliber, efficacy, and affordable price are crucial in influencing customer’s purchase choices. Regulation compliance and scientific validation of health claims become essential elements in creating a competitive edge in this burgeoning sector as consumers become more aware of the possible health advantages of probiotics.

The major competitors in the global probiotics market include Arla Foods amba, BioGaia AB, Chr Hansen Holding A/S, Danisco A/S, Danone S.A., Ganeden, Inc., General Mills, Inc., Lallemand Inc., Lifeway Foods, Inc., Mother Dairy Fruit & Vegetable Pvt. Ltd., Nebraska Cultures, Inc, Nestle S.A., PepsiCo, Inc., Probi AB, Arla Foods Inc., Deerland Probiotics & Enzymes Inc., Evolve BioSystems, Protexin, and Yakult Honsha Co., Ltd.

The global probiotics market is segmented as follows:

By Source (Revenue: USD Billion, 2018 – 2030)
●    Bacteria
●    Yeast
●    Other Microbes

By Form (Revenue: USD Billion, 2018 – 2030)
●    Liquid
●    Dry

By End Use (Revenue: USD Billion, 2018 – 2030)
●    Animal Probiotics
●    Human Probiotics

By Distribution Channel (Revenue: USD Billion, 2018 – 2030)
●    Hypermarkets & Supermarkets
●    Specialty Stores
●    Pharmacies
●    Online

By Application (Revenue: USD Billion, 2018 – 2030)
●    Functional Foods & Beverages
●    Livestock Feed
●    Nutritional Supplements

By Region (Revenue: USD Billion, 2018 – 2030)

● North America
o U.S.
o Canada
o Mexico

● Europe
o U.K.
o France
o Germany
o Italy
o Spain
o Rest of Europe
 
● Asia Pacific
o China
o Japan
o India
o South Korea
o South East Asia
o Rest of Asia Pacific

● Latin America
o Brazil
o Argentina
o Rest of Latin America

● Middle East & Africa
o GCC Countries
o South Africa
o Rest of Middle East & Africa

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