Probiotics Market Size, Share, Sector Overview: Growth and Forecast Through 2032
The global probiotics market was valued at USD 48.88 billion in 2019 and is expected to reach USD 94.48 billion by 2027, growing at a compound annual growth rate (CAGR) of 7.9% during the forecast period. In the U.S., the probiotics market is poised for substantial growth, with an estimated market value of USD 17.99 billion by 2032. This growth is fueled by the increasing adoption of immunity-boosting and probiotic-fortified food products, driven by heightened awareness of their health benefits.
Probiotics, renowned for their role in balancing gut flora, are increasingly utilized to manage digestive disorders such as irritable bowel syndrome (IBS) and boost overall immune health. Growing consumer awareness has driven the adoption of probiotic-rich foods, beverages, and supplements as people actively seek natural and effective solutions to improve their well-being.
Favorable regulatory frameworks worldwide, coupled with the endorsement of health claims by esteemed organizations like the European Food Safety Authority (EFSA) and the U.S. Food and Drug Administration (FDA), have further accelerated the growth of the probiotics market. These approvals enhance consumer confidence and encourage manufacturers to develop innovative probiotic-based products.
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Information Source: https://www.fortunebusinessinsights.com/industry-reports/probiotics-market-100083
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)
Rising Demand for Healthy Food Products Amid COVID-19
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The global focus on maintaining health and reducing the risk of illnesses, including COVID-19, has fueled demand for immunity-enhancing products like probiotics. These beneficial bacteria and yeasts are pivotal in supporting gut health and digestive balance. Commonly found in supplements containing strains such as Lactobacillus, Bifidobacterium, and Saccharomyces, probiotics offer a range of health benefits. Regular consumption not only promotes gastrointestinal well-being but also contributes to improved heart and brain health. Additionally, probiotics are frequently incorporated into foods like yogurt, amplifying their immune-boosting properties.
Key Insights in the Market Report
The probiotics market report delves into growth drivers, challenges, opportunities, and regional market dynamics shaping the industry’s future. Our research analysts, guided by insights from industry experts, provide a comprehensive analysis of these factors. The report also highlights competitive strategies used by leading players from 2020 to 2032, including mergers and acquisitions, joint ventures, product innovations, and collaborations.
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Market Segmentation
Supermarkets/Hypermarkets Segment: Dominant Market Share
In 2019, the supermarkets/hypermarkets segment captured a 61.33% share of the probiotics market. This segment is expected to witness substantial growth, driven by the wide variety of products available, convenient access, and attractive cashback and discount offers that entice consumers.
Market Drivers
Rising Demand for Immunity-Boosting Foods
The increasing prevalence of lifestyle disorders like diabetes and obesity has heightened the need for nutritious diets. According to the World Health Organization (WHO), global obesity rates have tripled since 1975. This growing health consciousness has bolstered demand for probiotics, known for their immunity-boosting properties. Additionally, advancements in technology are enabling companies to educate consumers on the benefits of probiotics, accelerating market growth during the forecast period.
Regional Insights
Asia-Pacific Leads Market Growth
The Asia-Pacific region is expected to dominate the global probiotics market, driven by a strong cultural focus on balanced diets and the growing popularity of fermented foods known for promoting gut health.
North America Shows Significant Potential
The North American probiotics market, valued at USD 8.Probiotics Market Size, Share, Sector Overview: Growth and Forecast Through 203230 billion in 2019, is projected to grow significantly through 2032. Rising rates of lifestyle-related illnesses and the presence of innovative market players are key factors propelling this growth.
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Competitive Landscape
Innovation at the Core of Market Leadership
Leading companies in the probiotics industry continue to strengthen their market positions by launching innovative products that meet evolving consumer needs. Strategic moves such as partnerships, mergers, acquisitions, and expanded distribution networks are driving market growth and enhancing brand visibility within this competitive landscape.
