Probiotics Market Size Analysis
According to a recent survey conducted by ChemView Consulting, the Global Probiotics Market grew at a CAGR of 7.1% between 2017-2021 and is estimated to be US$ 53467.1 Mn in 2022. Currently, the market is anticipated to grow at a CAGR of 6.7% and is expected to reach a valuation of US$ 1,02,265.9 Mn by 2032 end.
Probiotics are living microorganisms that have been demonstrated to offer consumers particular health benefits. They are well known for promoting gut health and supporting a healthy digestive tract. One of the best natural sources of probiotics is yogurt.
The market for probiotic products is being driven by an aging population, an increase in the number of gut-related ailments, a rise in the number of health-conscious consumers, and an increase in probiotic awareness. The feed probiotics market is also driven by a high demand for meat consumption worldwide.
PARTICIPATION OF INTERNATIONAL BODIES IN THE R&D OF PROBIOTIC PRODUCTS
Probiotics are renowned for improving both human and animal health. International organizations, including the WHO, IPA, and the International Scientific Association for Probiotics and Prebiotics, are raising awareness of probiotics due to their growing benefits. The legislation and investment policies for probiotic R&D are created by associations collaborating with national governments, which drives the probiotics market.
HIGH R&D COSTS FOR DEVELOPING NEW PROBIOTIC STRAINS
Significant investments hamper the expansion of the probiotics market in R&D activities, labs, and research equipment, and the high cost of employing qualified personnel. International food rules are followed in developing and producing probiotic strains and products.
The finished product price is high due to the high cost of production. Different modes of distribution are used for marketing and distributing probiotic goods. They come in various packaging as well. Thus, these variables raise the cost of the product, making it more expensive, which restrains consumer purchasing behavior and presents a problem for industry players.
BAN ON THE USE OF ANTIBIOTIC GROWTH PROMOTERS IN FEED IN THE EU
The EU outlawed the use of antibiotics in feed in 2006. AGPs are substances (drugs or chemicals) that are added to feed to increase the size and output of animals. The EU claims that the usage of these medications caused the emergence of microorganisms resistant to antibiotics, making it difficult to treat illnesses in humans and animals.
Antibiotic residues impact human health in meat and other animal products. The FAO has limited the use of antibiotics in feed in addition to the EU. Due to the feed producers’ exploration of options to improve product quality, such measures have created enormous investment prospects for probiotic manufacturers.
Market Segments Covered in Report
By Product Type:
By Distribution Channel:
By Region and Country:
Why are Dietary Supplements estimated to account for the largest market share?
To meet their vitamin needs, people take dietary supplements based on probiotics. They provide vitamin supplements more quickly and effectively. With changing, fast-paced lifestyles, particularly in nations like the US, dietary supplements are highly preferred. Due to their extensive product lines, key players in the probiotics business, such as ADM (US) and International Flavors & Fragrances Inc. (US), have increased consumption in North America.
Additionally, the demand for dietary supplements is growing in the Asia Pacific area, making this sector the one that will increase the fastest throughout the projection period.
Why are Hypermarkets & Supermarkets expected to expand the fastest during the forecast period?
In the upcoming years, probiotic producers are anticipated to experience rapid growth due to the expansion of supermarkets and hypermarkets, particularly in the Asia Pacific region. Customers are eager to visit stores and spend more money on nutrient-dense goods. Even if it is pricey, the trend toward living a healthy lifestyle is drawing young people in the nation to buy at supermarkets. The rising need for internet distribution channels has forced supermarkets to change their business models. For instance, supermarkets and hypermarkets use techniques like in-store promotions and on-site demos. Supermarkets and hypermarkets are therefore expected to dominate during the projection period.
Which Bacteria is increasing in demand?
Several bacterial species, including Lactobacillus and Bifidobacterium, are used in probiotic foods for humans and animals. They have long been well-liked sources and are well-studied microorganisms. Therefore, the bacteria segment will continue to rule the probiotics market during the forecast period as consumer perceptions of probiotics improve.
The regions analyzed for the market include North America, Europe, Latin America, Asia Pacific, Middle East, and Africa.
These actions have enabled market participants to increase their clientele and revenue. With the increasing demand for Probiotics worldwide, market players can anticipate attractive growth prospects in the future.
Some of the key developments that have taken place in the Probiotics Market include the following:
A list of some of the key suppliers present in the market are:
Report Coverage and Highlights
|Historical data available for||2017-2021|
|Market analysis||USD Million for Value and Tons for Volume, and CAGR from 2022 to 2032|
|Key regions covered||North America, Latin America, Europe, Asia-Pacific, Middle East, and Africa|
|Key countries covered||US, Canada, Brazil, Mexico, Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Saudi Arabia, Turkey, UAE, South Africa, Nigeria, Egypt|
|Key segments covered||By Product Type, Ingredients, End-User, Distribution Channel, and Region|
|Customization scope||Available upon Request|
|Pricing and purchase options||Available upon Request|
Frequently Asked Questions
In the forecast period between 2022 and 2032, the market is expected to grow at a CAGR of 6.7%.
The legislation and investment policies for probiotic R&D are created by associations collaborating with national governments, which drives the probiotics market.
Major global Probiotics Market players are Probi, Nestle, ADM, Danone, International Flavors & Fragrances Inc., Yakult Honsha Co., Ltd., General Mills Inc., Chr. Hansen Holding A/S Inc., BiGaia, Morinaga Milk Industry Co., Ltd., SACCO System, Winclove Probiotics, AB-Biotics, Glac Biotech, Lallemand, BIOHM Health, Sun Genomics, Unique Biotech Ltd., Probiotical S.p.A, Adisseo, NextFoods, Inc., Lifeway Foods, Inc., I-Health Inc., Suja Life, LLC, So Good So You
High R&D costs for developing new probiotic strains
Asia Pacific Region is expected to account for the largest market revenue share in the Global Probiotics market.
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