Global Probiotics Market Anticipated to Garner $105,336.5 Million, Growing at a 7.6% CAGR in the 2022-2031 Timeframe [280-Pages] | Calculations by Research Dive

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May 23, 2023, 06:59 ET

The global probiotics market is expected to grow primarily due to the increasing demand for probiotics. The food and beverages sub-segment is expected to flourish immensely. The Asia-Pacific region is predicted to grow at a high CAGR by 2031

NEW YORK, May 23, 2023 /PRNewswire/ -- Global Probiotics Market Forecast Analysis:

As per the report published by Research Dive, the global probiotics market is expected to register a revenue of $105,336.5 million by 2031, growing at a CAGR of 7.6% during the forecast period 2022-2031.

Segments of the Probiotics Market

The report has divided the market into the following segments:

Ingredient: bacteria and yeast

Bacteria – Highest market share in 2021
Bacteria-based probiotics have been intensively explored and are well recognized for their health benefits. This is expected to boost the sub-segment in the 2022–2031 timeframe.

Application: probiotic supplements, animal feed, and food and beverages

Food and Beverages – Most profitable in 2021
An increase in public awareness and interest in the health advantages of these products is expected to propel the sub-segment forward.

End user: human and animal

Human – Most lucrative in 2021
Increasing health consciousness, growing customer demand for natural and healthy food products, and the rising popularity of functional foods and beverages are anticipated to push the sub-segment forward.

Region: North America, Europe, Asia-Pacific, and LAMEA

Asia-Pacific – Significant market share in 2021
Increasing dietary supplements and nutraceuticals, growth in the middle-class population, a surge in the prevalence of digestive problems, and a rise in disposable income are predicted to propel the market in the forecast period.

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Dynamics of the Global Probiotics Market

The growing awareness of the benefits of probiotics for health restoration has increased customer expectations of probiotics, which is expected to make the probiotics market a highly profitable one in the forecast period. Additionally, developments in probiotic technology are predicted to propel the market forward. However, a lack of effective standards and probiotic consumer perceptions might become a restraint in the growth of the market.

The addition of probiotics to probiotic formulations is predicted to offer numerous growth opportunities to the market in the forecast period. Moreover, with a growing need for natural and organic products, people increasingly look for natural and organic products that are free of artificial additives and preservatives, which is expected to propel the probiotics market forward in the coming period.

COVID-19 Impact on the Global Probiotics Market

The outburst of the COVID-19 pandemic in 2020 has had a moderate impact on the growth of the probiotics market. During the pandemic, probiotic demand increased as people became more health conscious and searched out ways to strengthen their immune systems. However, the closure of gyms and health food shops amid lockdowns had an impact on probiotic distribution and sales. Overall, the probiotic market has proven robust and is anticipated to expand during the post-pandemic period.

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Key Players of the Global Probiotics Market

The major players of the market include

BioGaia AB
Chr. Hansen Holding A/S
Arla Foods Inc.
Danone
General Mills Inc.
Danisco A/S
i-Health Inc.
Mother Dairy Fruit & Vegetable Pvt. Limited
Lallemand Inc.

Lifeway Foods, Inc., and others. These players are working on developing strategies such as product development, merger and acquisition, partnerships, and collaborations to sustain the market growth.

For instance, in January 2023, KeVita, a company owned by Tropicana, added mango flavour to its line of Sparkling Probiotic Lemonade, which also includes classic and peach flavours. The products are offered at major US retailers such as Kroger and Walmart.

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What the Report Covers

Apart from the information summarized in this press release, the final report covers crucial aspects of the market including SWOT analysis, market overview, Porter's five forces analysis, market dynamics, segmentation (key market trends, forecast analysis, and regional analysis), and company profiles (company overview, operating business segments, product portfolio, financial performance, and latest strategic moves and developments.)

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About Research Dive

Research Dive is a market research firm based in Pune, India. Maintaining the integrity and authenticity of the services, the firm provides the services that are solely based on its exclusive data model, compelled by the 360-degree research methodology, which guarantees comprehensive and accurate analysis. With an unprecedented access to several paid data resources, team of expert researchers, and strict work ethic, the firm offers insights that are extremely precise and reliable. Scrutinizing relevant news releases, government publications, decades of trade data, and technical & white papers, Research dive deliver the required services to its clients well within the required timeframe. Its expertise is focused on examining niche markets, targeting its major driving factors, and spotting threatening hindrances. Complementarily, it also has a seamless collaboration with the major industry aficionado that further offers its research an edge.

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