Probiotics Market size is set to grow by USD 32.06 bn from 2024-2028, health benefits of probiotics to boost the market growth, Technavio

NEW YORK, May 14, 2024 /PRNewswire/ -- The global probiotics market size is estimated to grow by USD 32.06 bn from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 7.84% during the forecast period. 

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Key Market Trends Fueling Growth

• There's a growing consumer preference for natural skincare remedies, and probiotics, as naturally occurring microorganisms, align with this trend towards more holistic and natural products.
• The concept of the gut-skin axis, emphasizing the connection between gut health and skin conditions, has gained recognition, prompting exploration into the potential benefits of probiotics for skin health.
• Probiotics, renowned for their ability to balance the gut microbiome, are being investigated for their positive effects on skin health.
• Clinical research has validated the efficacy of probiotics in forming a protective barrier on the skin, shielding it from inflammation, UV radiation, and moisture loss.
• With their anti-inflammatory properties, probiotics show promise in soothing irritated or sensitive skin, making them desirable ingredients in skincare formulations.
• Probiotics have been integrated into a wide array of skincare and personal care products, including cleansers, moisturizers, serums, masks, and hair care items, catering to consumers seeking diverse options.
• As companies adapt to meet evolving consumer demands and capitalize on emerging scientific discoveries, the global probiotics market is projected to sustain growth in the forecast period.

Market Challenges

• Despite the myriad health advantages associated with probiotics, their elevated pricing presents a significant hurdle to market advancement.
• For instance, the average cost of probiotic yogurt in 2022 stands at $2.4 per ounce, a notable contrast to the $1 per ounce price tag of regular yogurt.
• The premium pricing of probiotic products can be attributed to factors such as patent protections, the incorporation of natural probiotic ingredients, or the inclusion of multiple probiotic strains.
• In regions like India, where homemade yogurt is prevalent, any increase in probiotic yogurt prices would present a considerable challenge to market expansion.
• Similarly, in South Africa, where the probiotics market remains nascent and penetration levels are low, consumers exhibit limited interest in higher-priced novel products.
• Consequently, the elevated prices of probiotic goods are anticipated to impede market growth in developing nations throughout the forecast period.

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Segment Overview 

This probiotics market report extensively covers market segmentation by

1. End-user 
• 1.1 Human probiotics
• 1.2 Animal probiotics
2. Product 
• 2.1 Probiotic functional food and beverage
• 2.2 Dietary supplements
• 2.3 Animal feed
3. Geography 
• 3.1 APAC
• 3.2 Europe
• 3.3 North America
• 3.4 Middle East and Africa
• 3.5 South America

1.1 Human probiotics- The probiotics market in healthcare is experiencing significant growth due to the increasing emphasis on preventive healthcare and the recognition of the role of systematic probiotic strains in maintaining gut health. With an aging population and rising consumer spending, the demand for probiotics is expected to increase. Diet, particularly the consumption of junk food and processed food, can negatively impact gut health and intestinal inflammation. Probiotics offer a natural solution to boost immunity, aid digestion, and support weight management in obesity-prone individuals. Pharmacies and retail stores stock a variety of probiotic products, including dairy-based, lactobacillus-rich yogurts, and demographic-specific probiotics for geriatrics. Probiotic dietary supplements, fizzy powders, gummies, and chewable products cater to diverse consumer preferences. The health benefits of probiotics extend to immunity strengthening, delivery systems, and natural solutions for gastrointestinal situations. As consumers adopt healthier lifestyles, the market for probiotics as nutrient boosters continues to expand. Lactobacillus strains and plant-based probiotics cater to vegan and plant-based diets. The probiotics market encompasses a wide range of products, from natural solutions to pharmacological interventions, all aimed at enhancing gut health and overall well-being.

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Research Analysis

The Probiotics Market encompasses the production and distribution of beneficial Microorganisms, primarily Lactobacilli and Bifidobacteria, for the promotion of preventive healthcare. These live organisms are integral to maintaining Gut health and optimal Digestive function, particularly crucial for an aging population. Consumers increasingly recognize the importance of gut-related disorders prevention, leading to significant consumer spending on Functional dairy products, such as Yogurt, and other Functional foods and Nutraceuticals. Probiotics play a vital role in enhancing the nutritional value of these products, aiding in the prevention and management of intestinal inflammation and Meat consumption-related digestive issues. The market continues to grow as more research highlights the benefits of these beneficial organisms for overall health and well-being.

Market Research Overview

The Probiotics Market is a significant sector in the health and wellness industry. Probiotics are live bacteria and yeasts that provide numerous health benefits when consumed, particularly in the gut. Preventive probiotics are gaining popularity as people recognize the importance of maintaining a healthy gut microbiome. Probiotics are used to improve digestive health, boost immunity, and even support mental health. The market for probiotics is driven by consumer demand for natural health solutions and the increasing awareness of the role of gut health in overall wellbeing. Consumers are looking for probiotic products in various formats, including food and beverages, dietary supplements, and functional foods. The market is expected to grow significantly in the coming years due to increasing consumer awareness and the development of new probiotic strains and delivery systems. The future of the probiotics market looks bright as research continues to uncover new benefits and applications for these beneficial bacteria.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• End-user
• Human Probiotics
• Animal Probiotics
• Product
• Probiotic Functional Food And Beverage
• Dietary Supplements
• Animal Feed
• Geography
• APAC
• Europe
• North America
• Middle East And Africa
• South America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio