Probiotics Market size to increase by USD 32.06 billion between 2023 to 2028, Human Probiotics to be the major contributing segment - Technavio

NEW YORK, Jan. 7, 2024 /PRNewswire/ -- How is the Probiotics Market expected to grow in the next five years?

The probiotics market size is expected to grow by USD 32.06 billion from 2023 to 2028, according to Technavio. In addition, the growth momentum of the market will progress at a CAGR of 7.84% during the forecast period. The health benefits of probiotics are notably driving the probiotics market. However, factors such as the high prices of probiotic products in developing countries may impede market growth. The market is segmented by End-user (Human probiotics and Animal probiotics), Product (Probiotic functional food and beverage, Dietary supplements, and Animal feed), and Geography (APAC, Europe, North America, Middle East and Africa, and South America). Technavio provides a comprehensive report summary describing the market size and forecast along with research methodology. The sample report is available in PDF format 

Which segment is significantly contributing to the Probiotics Market?
The human probiotics segment is expected to contribute significant market share during the forecast period. Due to increased health awareness, especially in countries like the US, the demand for probiotics in functional foods, beverages, and dietary supplements is rising. Probiotics deliver advantages such as enhancing the skin's moisture barrier, reducing oxidative stress, protecting against UV-induced damage, preserving pH levels, and improving hair quality. To know additional highlights and key points on various market segments and their impact in coming years, View a FREE PDF Sample Report.

In which region the Probiotics Market is expected to grow in the next five years?

APAC will contribute 37% to the growth of the global market during between 2023 - 2028. China is the first-largest probiotics market in APAC after Japan. The market in China is growing at a fast rate due to its high demand for various probiotic products, particularly yogurt and functional foods. Yakult makes a wide range of products, like fermented milk drinks and yogurts, and in other fields, including foods and beverages, cosmetics, and pharmaceuticals.

Market Dynamics

What are the main growth drivers for the Probiotics market?

Product innovations drive the growth of the Probiotics Market, boosting advancements in Gut Health and Digestive Health. These innovations cater to Probiotic Supplements, enhancing Beneficial Bacteria and Microbiome Health in promoting Intestinal Flora balance. Diverse Probiotic Foods and unique Probiotic Strains improve wellness. Furthermore, the integration of Prebiotics in Fermented Foods supports Immune Support and fosters a balanced Gut Microbiota, improving the role of innovation in driving the market's expansion.

What is the overall market trend for Probiotics?

An influential trend in the Probiotics Market's growth is the expanding use of probiotics in the cosmetic industry. This trend harnesses Probiotic Research and explores diverse Probiotic Benefits, extending beyond Oral Probiotics and Probiotic Capsules. It reshapes markets like Women's Health Probiotics, boosting Probiotic Health Claims and utilizing unique Probiotic Cultures in innovative Probiotic Skin Care. Additionally, this trend embraces applications such as Infant Probiotics, Animal Probiotics, and incorporates Digestive Enzymes, driving market expansion and diversification.

What are some of the challenges faced by the Probiotics Market?

The Probiotics Market encounters a significant challenge in developing nations due to the elevated prices of probiotic products. This hurdle affects Probiotic Strain Diversity and hampers Probiotic Industry Trends, particularly in the Probiotic Supplements Market and Probiotic Drinks sectors. High prices restrict access to beneficial products like Probiotic Yogurt and hinder the utilization of Digestive Enzymes, impeding market growth and accessibility in these regions. Comprehensive Probiotic Market Analysis underscores this pricing obstacle affecting market expansion in developing countries.

What is the nature of the Probiotics Market?
The probiotics market is fragmented, and the companies are deploying organic and inorganic growth strategies to compete in the market.

Who are the top companies operating in the probiotics market?

The major companies operating in the probiotics market are: AnaBio Technologies, Archer Daniels Midland Co., BioGaia AB, Chr Hansen Holding AS, Danone SA, Dr. Willmar Schwabe GmbH and Co. KG, DuPont de Nemours Inc., Farmhouse Culture Inc., General Mills Inc., Kerry Group Plc, Lallemand Inc., Lifeway Foods Inc., Microbiome Labs UK Ltd., Nestle SA, Novozymes AS, PepsiCo Inc., Probulin Probiotics LLC, SANZYME BIOLOGICS PVT. LTD., SIG Group AG, Symrise AG, Thats it Nutrition LLC, Natures Bounty, Uncle Matts Organic, Yakult Honsha Co. Ltd.

• View a PDF Sample Report to find additional highlights on the growth strategies adopted by companies and their product offerings.

Related Reports:

The digestive health supplements market size is estimated to grow at a CAGR of 7.12% between 2022 and 2027. The market size is forecast to increase by USD 7.86 billion. 

The probiotic ingredients market share is expected to increase by USD 2.21 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 7.99%.

ToC:

Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by End-user

Market Segmentation by Product

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide 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 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