Probiotics Market is Expected to Reach $75.9 billion by 2027- Market Size, Share, Forecasts, & Trends Analysis Report with COVID-19 Impact by Meticulous Research®

REDDING, Calif., March 9, 2022 /PRNewswire/ -- According to a new market research report titled "Probiotics Market by Strain (Bacteria [Bacillus]), by Product Type (Dairy Food [Yogurt, Baked Food]), by Form (Liquid), by Sales Channel (Super Markets, Pharmacies), by End User (Human [Adults, Senior], Animal), and Geography—Global Forecast to 2027", published by Meticulous Research®, the probiotics market is expected to reach $75.9 billion by 2027, at a CAGR of 5.6% during the forecast period of 2020–2027.

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The growth of this market is mainly attributed to the growing consumer awareness regarding the health benefits of probiotic-induced foods, the increasing use of probiotics as an alternative to antibiotics, and the growing research progress on probiotics.

Furthermore, the growing use of probiotics in infant feeding and the growth in e-commerce is expected to create lucrative opportunities for players operating in this market. However, stringent regulations related to probiotics are expected to hinder the development of this market to a notable extent.

Impact of COVID-19 on the Probiotics Market

The outbreak of the COVID-19 pandemic significantly affected the food & beverage market. The probiotics market is experiencing a positive impact due to the benefits offered by probiotics. Probiotics were hailed as an effective supplementary method for tackling the virus. For instance, probiotic products have been selling well in Japan amidst the COVID-19 outbreak. According to Yakult Honsha, year-on-year sales of Yakult probiotic products increased by 11.5% in March and 10.3% in April 2020.

Similarly, Meiji Holdings also announced that the value sales of its dairy products, including yogurt, witnessed positive growth during February and April in 2020, and the year-on-year growth rate registered 7.4% in March 2020. Particularly, functional probiotic yogurt products were selling well. Thus, the positive impacts of the COVID-19 pandemic on the probiotics market are expected to boost its demand in the market.

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Growing Use of Probiotics in Infant Feeding

In recent years, probiotic supplementation in food and promoted as dietary supplements have become quite common. During childhood & adolescent age, children need to get enough nutrients to ensure optimal health. The majority of children get an adequate amount of nutrients from a balanced diet. However, under certain circumstances, probiotics help nurture the child's body and play a vital role in the potential development of infants. Further, adding probiotic ingredients to infant formula may help newborns fight against infections (Source: Journal of Parenteral and Enteral Nutrition). However, the evidence is mixed on whether probiotics are effective for various infant conditions.

Moreover, the increasing mortality rate of children due to undernutrition and the rising incidences of obesity are expected to drive the demand for external nutritional supplements. Similarly, it was observed that obesity in children of low-middle income countries is gradually mounting. These factors are expected to further the demand for high nutritional probiotics, thereby driving the market's growth in low-and middle-income countries.

Nestlé has taken an enormous initiative to cater to such growing needs—Nestlé for Healthier Kids is providing appropriate nutrition for children globally. With this new initiative, Nestlé is accelerating the transformation of its food and beverage portfolio worldwide. In last 2-3 years, Nestlé globally launched more than 1,000 new products to meet the nutritional needs of children. It provided 174 billion servings of fortified foods and beverages in 66 low- and middle-income countries in the same year. Thus, the rising incidences of diseases and the rapid development activities by market players are expected to increase the demand for probiotics in infant food in the coming years.

Probiotics Market Overview

Meticulous Research® has segmented the overall probiotics market by strain (bacteria strain products and yeast strain products), product type (functional food & beverages, medical & dietary supplements, and animal feed), form (liquid and dry), sales channel (offline sales and online sales), end user (human and animal), and geography (North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa).

Based on strain, the probiotics market is segmented into bacteria strain products and yeast strain products. The bacteria strain products segment commands the largest share of the overall probiotics market. The large market share of this segment is mainly attributed to the growing use of bacteria strains in a wide variety of commercial dairy products, including sour and fresh milk, yogurt, and cheese. In addition, the growing number of people with gastrointestinal and extraintestinal disorders (including prevention and alleviation symptoms of traveler's diarrhea and antibiotic-associated diarrhea, inflammatory bowel disease, lactose intolerance, and irritable bowel syndrome); increasing popularity among health-conscious consumers worldwide; and the rising preference for nutrient-rich food products is expected to boost the demand for bacterial strain probiotics in the market. However, the yeast strain products segment is expected to grow at the fastest CAGR during the forecast period.

Based on the product type, the probiotics market is mainly segmented into functional food & beverages, medical & dietary supplements, and animal feed. The functional food & beverages segment dominates the overall probiotics market. The large share of this market is primarily 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 (which is the most popular source of probiotics). Moreover, growing consumer preference for buying snacks containing ingredients with digestive health benefits and rising fortification of foods & beverages with probiotic ingredients is expected to fuel the demand for functional probiotic food and beverages.

However, the probiotic medical & dietary supplements segment is expected to grow at the fastest CAGR during the forecast period. The high growth rate of this segment is primarily attributed to rapid urbanization, the rising incidences of various diseases, and the growing awareness about the health benefits of beneficial nutrients. Furthermore, weight management, immunity, diabetes control, cardiovascular diseases, gastrointestinal health, and general health are some of the major applications of probiotic dietary supplements driving the market growth.

Based on form, the probiotics market is segmented into liquid and dry. The liquid segment dominates the overall probiotics market. However, the dry segment is expected to grow at the fastest CAGR during the forecast period. The high growth rate of this segment is attributed to the advantages offered by dry probiotics, such as ease of handling, transport, use, and cost-efficiency. In addition, dry probiotics maintain the stability of the ingredient functionality until utilized, which is one of the major factors driving the demand for dry probiotics.

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Based on sales channel, the probiotics market is segmented into offline sales and online sales. The online sales segment is expected to grow at a faster CAGR during the forecast period. The high growth rate of this segment is attributed to the growing consumer spending on probiotic products through online distribution channels, growing smartphone and internet penetration, and e-commerce expansion by major players in developing countries. For instance, the South Korean probiotic brand, Youguth, is expanding its e-commerce reach in Singapore. Further, Amazon, online pharmacies, and local online stores are mainly expected to drive the growth of this segment.

Based on geography, the probiotics market is segmented into five major regions: North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. Asia-Pacific commands the largest share of the global probiotics market. The large market share of Asia-Pacific region is attributed to the increasing consumer awareness about digestive health, the growing incidences of diabetes and obesity amongst the population, and the increasing innovations in probiotic formulations.

The probiotics market in China is expected to witness significant growth during the forecast period. This market is mainly driven by the growing dairy consumption in China, which increases the demand for value-added dairy products, such as yogurt. Also, the aging population and increasing awareness about probiotics in the country further stimulate the demand for probiotics in the country. The increasing awareness about probiotics amongst Chinese consumers and the growing developments of probiotic products further drive the market growth in the country. The probiotics market has become one of the fastest-growing segments of the health food market in China. In 2021, China's probiotic supplements market achieved over RMB 30 billion with a compound annual growth rate of 20.6% (Source: DuPont Nutrition & Health Special Research). Hence, the growing market for probiotics in the form of food & beverages and the rising investments for probiotics in the country are expected to drive the demand for probiotic products.

The key players operating in the global probiotics market are Probi AB (Sweden), BioGaia AB (Sweden), Nestlé S.A. (Switzerland), Chr. Hasen Holding A/S (Denmark), Danone S.A. (France), Yakult Honsha Co., Ltd. (Japan), Lallemand Inc. (Canada), Lifeway Foods Inc. (U.S.), Dupont de Nemours, Inc. (U.S.), Kerry Group plc (Ireland), Archer Daniels Midland Co. (U.S.), Deerland Probiotics & Enzymes Inc. (U.S.), KeVita, Inc. (a part of PepsiCo Inc.) (U.S.), Evolve BioSystems (U.S.), Cell Biotech Co., Ltd. (Korea), and Probiotical S.p.A. (Italy) among others.

Browse in-depth TOC on " Probiotics Market - Global Opportunity Analysis And Industry Forecast (2020-2027)"
393 – Tables
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Scope of the Report

Probiotics Market, by Strain

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

Probiotics Market, by Product Type

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

Probiotics Market, by Form

• Liquid
• Dry
• Capsules & Tablets
• Powder
• Semi-Solid & Gels
• Stick Packs

Probiotics Market, by Sales Channel

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

Probiotics Market, by End User

• Human
• Adults (18-65 Years)
• Seniors (Above 65 Years)
• Children & Adolescents (<18 Years)
• Animal
• Poultry
• Swine
• Ruminants
• Aquaculture
• Pets
• Others

Probiotics Market, by Geography

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

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About Meticulous Research®

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