Probiotics Market size to record USD 32.06 bn growth from 2024-2028, Launch of new products is one of the key market trends, Technavio
NEW YORK, April 3, 2024 /PRNewswire/ -- The global probiotics market size is estimated to grow by USD 32.06 bn from 2024 to 2028, according to Technavio. The market is estimated to grow at a CAGR of over 7.84% during the forecast period. The probiotics market is highly competitive, with vendors launching innovative products annually. New offerings, such as kid-friendly probiotics and science-based supplements, stimulate growth. Key trends include healthcare, preventive healthcare, systematic probiotic strains, gut health, intestinal inflammation, and consumer spending. Probiotics come in various forms, including yogurt, chewing gum, and dietary supplements, catering to diverse consumer needs and preferences.
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Innovation Sparks Market Growth:
The global probiotics market is experiencing robust growth due to the increasing demand for preventive healthcare and the introduction of systematic probiotic strains. With a focus on gut health and intestinal inflammation, probiotics are gaining popularity among consumers, particularly in the aging population. Consumer spending on probiotics is on the rise, driven by a shift towards healthier lifestyles and a growing awareness of the nutritional value of these products. Despite the availability of junk food and processed food, consumers are seeking natural solutions for digestion, immunity, weight management, and obesity. Probiotics offer health benefits for all age groups, with demographic-specific probiotics catering to the unique needs of geriatrics. The market is witnessing an influx of new products, including lactobacillus strains, vegan and plant-based options, and dairy-based products. Sales of probiotic dietary supplements, natural solutions, and pharmacological solutions are surging in pharmacies and retail stores. Flavorful probiotic baked goods, such as muffins, and healthy bars are gaining traction, while chewable products like gummies and fizzy powders are also popular. The market is expected to continue growing, with the development of new delivery systems and the introduction of science-based probiotics to support specific health concerns, such as immunity strengthening and gastrointestinal situations. Bacteria and yeast continue to be the focus of research and innovation, with new strains and combinations being developed to enhance the total nutritional value and flavor of probiotic products. The future of the probiotics market looks bright, with a strong focus on delivering natural and effective solutions for gut health and overall wellness.
Addressing Challenges:
The probiotics market continues to expand, driven by the demand for functional foods and nutraceuticals. However, the premium pricing of probiotic-rich food products, such as yogurt, poses a challenge. Reasons include patents, natural probiotic ingredients, and the use of multiple bacterial strains like Lactobacillus and Bifidobacterium. In developing countries, affordability is a concern. The FAO advocates for increasing access to probiotics through affordable sources. Antibiotics and AGPs negatively impact the gut microbiome, further emphasizing the need for probiotics. Preventive healthcare solutions include probiotic dietary supplements, enzymes, prebiotics, and plant-based products. Retail outlets like supermarkets, hypermarkets, pharmacies, drugstores, and online stores offer a wide range of functional dairy products, probiotics, and natural health solutions for digestive function issues such as diarrhea, constipation, bloating, and ulcerative colitis. Optibac Probiotics and fish oil supplements are popular choices. Pharmaceutical interventions remain an alternative, but probiotics offer a more natural solution.
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Analyst Review
The Probiotics Market is experiencing significant growth due to the increasing awareness of preventive healthcare and the importance of maintaining gut health in the aging population. Systematic probiotic strains, such as Lactobacilli and Bifidobacteria, play a crucial role in this trend. Consumers are increasingly turning to functional dairy products, like yogurt, and nutraceuticals to improve their digestive function and address gut-related disorders. The feed probiotics market is also expanding as the benefits of these microorganisms extend beyond human health to animal health and agriculture. The rising consumer spending on functional foods and the nutritional value they provide further fuel the market's growth. Meat consumption, while a source of protein, can negatively impact gut health, making probiotics an essential addition to one's diet.
Market Overview
The Probiotics market is a significant segment of the functional food industry, driven by the growing awareness of gut health and its impact on overall well-being. Probiotics are live bacteria and yeasts that provide health benefits when consumed, particularly the ability to maintain or restore the balance of gut flora. The market is projected to grow at a CAGR of 6.7% from 2020 to 2025, with dairy products, dietary supplements, and functional foods being the major application areas. Factors driving the market include increasing consumer preference for natural and organic products, rising healthcare costs, and the growing geriatric population. However, challenges such as product contamination, lack of standardization, and regulatory issues persist. Key players in the market include Danone, Chobani, Yakult Honsha, and Lactobacillus Dairy & Foods.
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Key Companies:
Probiotics Market is fragmented ; the companies are competing with competitors and are trying to get greater market share. The market is growing, and the chances of new entrants cannot be overlooked. The major companies have well-established economies of scale and market presence and generally rely on positioning technological advances, and the price of the products. Probiotics Market report includes information on the product launches, sustainability, and prospects of leading vendors including 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.
Key Topics Covered:
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 Vendor Landscape
11 Vendor 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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Email: [email protected]
Website: www.technavio.com/
SOURCE Technavio
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