Probiotics Market Size Worth USD 133.47 Billion by 2032
Page Contents
Market Overview
Published Via 11Press: The Global Probiotics Market size is expected to be worth around USD 133.47 Billion by 2032 from USD 62.40 Billion in 2022, growing at a CAGR of 7.90% during the forecast period from 2022 to 2032.
The probiotic market is experiencing a surge in growth as more and more people become aware of the health benefits provided by probiotics. Probiotics are beneficial microorganisms that help maintain an equilibrium in your gut, leading to improved digestion and immunity. Studies have even demonstrated that taking probiotics regularly can improve overall well-being, soothe digestive issues, and even lift moods.
The global probiotic market is predicted to expand exponentially over the coming years due to increasing demand for natural supplements. This growth will be fuelled by factors such as rising awareness about probiotic benefits; growing demand for functional foods, the rising importance of preventive healthcare, and the rising prevalence of lifestyle-related diseases. Companies have begun introducing innovative products with higher efficacy and better taste, which is fueling sales within this sector. Furthermore, government initiatives like subsidies on organic purchases have further stimulated global demand for these items.
Power electronic devices have become an integral part of many countries' energy landscapes due to the increasing adoption of smart grids and renewable sources such as solar and wind energy. Governments are encouraging more sustainable solutions that require less electricity use, leading to power electronic devices becoming increasingly important components.
The industrialization has also contributed to the expansion of this market segment. By automating manufacturing processes, power electronics help manufacturers reduce costs and boost productivity. Furthermore, advances in technology have permitted these devices to be utilized across a range of applications from consumer electronics to heavy manufacturing processes – further fueling demand for power electronics across various industry sectors.
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Key Takeaways
- The global probiotic market is a rapidly developing industry that encompasses various products containing live microorganisms that offer health benefits when consumed in sufficient amounts.
- The market is segmented based on product types, such as food and beverages, dietary supplements, animal feed, and others.
- Food and beverages make up the bulk of probiotic market sales, including items like yogurt, kefir, and fermented foods.
- North America is the leading probiotics market, followed by Europe and Asia Pacific.
- Some of the major players in the probiotic market include BioGaia AB, Lallemand Inc., Lifeway Foods, Inc., Danone S.A., PepsiCo Inc., Arla Foods, Inc., Morinaga Milk Industry Co. Ltd, CHR Hansen, Hansen Holding A/S, Yakult Honsha Co., Ltd., Probi AB, Lifeway Foods Inc., Nestle SA, Ganeden, Inc., Kerry Inc., Post Holdings, Inc., Pepsico, Inc., Evolve Biosystems, Inc.
- The probiotic market is being driven by rising consumer awareness of the potential health benefits of probiotics, rising demand for functional foods and dietary supplements, as well as advances in probiotic research and development.
- The market faces several obstacles, such as regulatory obstacles, product formulation and stability problems, and consumer skepticism.
Overall, the probiotic market offers numerous opportunities for growth and innovation in the coming years, with expectations that this trend will only continue to expand.
Regional Analysis
North America is the leading market for probiotics, driven by increased consumer awareness and increasing demand for functional foods and dietary supplements. The United States leads this region's probiotic market share.
Europe is the second-largest market for probiotics, driven by an increase in digestive health issues and an increasing desire for natural and healthy foods. The United Kingdom, Germany, and France are the top three markets within this region.
Asia Pacific is the fastest-growing market for probiotics, driven by a rising middle class, increasing disposable incomes, and increased awareness of their health benefits. China and India are two major players in this region.
Rest of the World This region includes regions such as Latin America, the Middle East, and Africa. This area is expected to experience steady growth due to increasing demand for probiotics in animal feed and growing awareness about their health benefits.
Overall, the probiotic market is expanding across all regions; however, its growth rate varies by region due to differences in consumer awareness, regulatory environment, and cultural influences. Asia Pacific is expected to experience the highest growth rate due to its large population and rising consumer awareness levels.
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Drivers
Consumer Awareness As people become more informed about the potential health benefits of probiotics, they are seeking out foods and supplements containing live microorganisms. As a result, the demand for probiotic products is on the rise. Growing Demand for Functional Foods and Dietary Supplements Consumers are increasingly seeking out foods and supplements with additional health benefits beyond basic nutrition. Probiotics have become a go-to solution to support digestive health, boost the immune system, and potentially treat other medical conditions as well.
Research and development advances in probiotic research Ongoing investigations into the health benefits of probiotics are leading to new product development as well as improvements to existing ones, spurring innovation in this market. Increase in Digestive Health Issues Digestive health issues such as irritable bowel syndrome, inflammatory bowel disease, and lactose intolerance are becoming more widespread, driving demand for probiotics to support gut health. The rise of e-commerce has made it simpler for consumers to purchase probiotic products online, increasing its reach and making the market more accessible to a broader range of buyers.
Overall, these drivers have contributed to the rapid expansion of the probiotic market and are expected to remain influential in its future expansion.
Restraints
Regulatory challenges Probiotic products are regulated as dietary supplements or as food products in different countries. This can create challenges for manufacturers trying to market and sell their products in multiple jurisdictions. Different regulatory standards can also impact the safety and efficacy of probiotic products. Product formulation and stability issues Probiotic products require careful formulation and handling to ensure that the live microorganisms survive storage and transport. Formulation challenges and poor handling practices can impact the quality and effectiveness of probiotic products, which can damage consumer trust and limit sales.
Consumer skepticism Some consumers may be skeptical of the health claims made by probiotic products, or may not understand the potential benefits of consuming live microorganisms. This can limit demand for probiotic products, especially in regions with lower consumer awareness. Limited research on health benefits While there is growing evidence of the health benefits of probiotics, there is still a lot of research to be done to fully understand the potential benefits and limitations of different strains and dosages. Limited research can limit the marketability of probiotic products, especially for more specialized applications.
Overall, these restraints can limit the growth and profitability of the probiotic market and may require industry stakeholders to work together to address issues related to regulation, formulation, and consumer education.
Opportunities
Expansion into new applications While probiotics are commonly associated with digestive health, there are many other potential applications for live microorganisms, such as skin health, oral health, and even mental health. As research into probiotics continues, there may be new opportunities for manufacturers to develop and market products for a wider range of applications. Development of personalized probiotics As the science of the human microbiome advances, there may be opportunities for manufacturers to develop probiotic products tailored to individual needs based on their specific microbiome composition.
Growth in emerging markets While the probiotic market is well-established in developed regions such as North America and Europe, there is significant potential for growth in emerging markets such as Asia Pacific, Latin America, and Africa. As consumer awareness of the health benefits of probiotics grows in these regions, there may be opportunities for manufacturers to enter new markets and expand their reach. Collaboration with other industries Probiotic manufacturers may be able to collaborate with other industries, such as pharmaceuticals, to develop and market products that combine probiotics with other health-promoting ingredients. This could help to create new products with unique benefits and expand the market for probiotics.
Overall, the probiotic market offers many opportunities for growth and innovation, and manufacturers who are able to capitalize on these opportunities may be well-positioned to succeed in this rapidly growing market.
Challenges
Lack of Standardization Unfortunately, probiotic products lack standardization, leading to confusion among consumers and obstacles for manufacturers trying to develop and market them. Furthermore, the lack of standardization makes it difficult for researchers to compare the effectiveness of different products. Competition from Traditional Products Though probiotic products are growing in popularity. they still face competition from established foods and supplements on the market. If consumers do not perceive a clear advantage over existing options, they may hesitate to switch over to probiotic items.
Cost of production Producing probiotic products can be expensive, especially if they require specialized production processes and handling to guarantee the viability of live microorganisms. This limits profitability for probiotic products and makes it difficult for smaller manufacturers to compete. Regulatory Challenges As previously noted, probiotic products are subject to different regulations in different jurisdictions. This presents manufacturers with an additional obstacle when trying to market and sell their goods across multiple regions. Doing so could increase the cost and complexity of bringing probiotic products onto the market. Limited consumer awareness While probiotic product awareness is increasing, many consumers still do not comprehend the health advantages that consuming live microorganisms can provide. This could restrict demand for probiotic products and make it challenging for manufacturers to educate consumers about their advantages.
Overall, these challenges are significant and could present obstacles for manufacturers trying to break into the probiotic market. However, those who can address these obstacles and find creative solutions may be well-positioned to thrive in this rapidly expanding sector.
Recent Development
BioGaia introduced Osfortis to the Chinese market through an e-commerce channel in May 2021. Osfortis, a probiotic, is used in dietary supplements that contain lactic acid.
Chr. Hansen launched three new probiotic products that support the well-being of pets and provide nutrition. The company will be able to increase its revenue with this portfolio.
Report Scope
| Report Attribute | Details |
| The market size value in 2022 | USD 62.40 Bn |
| Revenue forecast by 2032 | USD 133.47 Bn |
| Growth Rate | CAGR Of 7.90% |
| Regions Covered | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and the Rest of the World |
| Historical Years | 2017-2022 |
| Base Year | 2022 |
| Estimated Year | 2023 |
| Short-Term Projection Year | 2028 |
| Long-Term Projected Year | 2032 |
Frequently Asked Questions
What is the market study period?
The probiotic market is studied from 2017 – 2032.
What is the growth rate for the probiotic market?
The probiotic market is growing at a CAGR of 7.90%
Which region experiences the highest rate of growth in the probiotic market?
Asia Pacific is growing at the highest CAGR over 2022- 2032.
Which region is the largest in the probiotic market?
North America holds the highest share in 2022.
Who are the major players in the probiotic market?
BioGaia AB, Lallemand Inc, Lifeway Foods Inc, Danone S.A, PepsiCo Inc, Arla Foods, Inc, Morinaga Milk Industry Co. Ltd, CHR Hansen, Hansen Holding A/S, Yakult Honsha Co, Ltd. Probi AB, Lifeway Foods Inc, Nestle SA, Ganeden, Inc, Kerry Inc, Post Holdings, Inc, Pepsico, Inc, Evolve Biosystems, Inc.
Key Market Segments
Based on Ingredient
- Bacteria
- Yeast
Based on Function
- Regular
- Preventative Healthcare
- Therapeutic
Based on Application
- Food & Beverage
- Dietary Supplement
- Animal Feed
Based on Distribution Channel
- Supermarkets/Hypermarkets
- Pharmacies/Health Stores
- Convenience Stores
- Online Retail
Based on End-Use
- Human
- Animal
Top Key Players in Probiotics Market
- BioGaia AB
- Lallemand Inc.
- Lifeway Foods, Inc.
- Danone S.A.
- PepsiCo Inc.
- Arla Foods, Inc.
- Morinaga Milk Industry Co. Ltd
- CHR Hansen
- Hansen Holding A/S
- Yakult Honsha Co., Ltd.
- Probi AB
- Lifeway Foods Inc.
- Nestle SA
- Ganeden, Inc.
- Kerry Inc.
- Post Holdings, Inc.
- Pepsico, Inc.
- Evolve Biosystems, Inc.
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