0

Probiotics Market expected to reach $73.9 billion by 2030-Allied Market Research

 
2022
Probiotics Market

Report Code : A00192

quote increasing preference for probiotics dietary supplements has propelled the probiotics market growth. The international bodies' participation in probiotics product R&D, health benefits of probiotics-fortified foods, rise in consumer health consciousness, and technological advancement are all expected to accelerate the growth of the probiotics market. quote

Aniket Kadam
Senior Research Analyst, Food & Beverage at Allied Market Research

Get 20% Free Customization In This Report
Follow us on Social Media:       
 

According to a new report published by Allied Market Research, titled, “Probiotics Market by Ingredient, Function, Application, and End User: Global Opportunity Analysis and Industry Forecast, 2021–2030The global probiotics market size was valued at $34.1 billion in 2020, and is projected to reach $73.9 billion by 2030, registering a CAGR of 8.6%.

Probiotics are live microorganisms, which improve digestion and strengthen immunity. The growth in health concern among people coupled with increase in consumption of functional food has led to the huge demand for probiotics ingredient. Change in lifestyles and rise in consumption of junk food have encouraged people to opt for healthy products, including probiotics in their diet to remain fit and healthy.

The market is expected to continue its prominent growth rate, owing to the growth in awareness about health benefits of probiotics. Probiotics are often taken to treat diarrhea, cramps, and gastritis caused due to intake of antibiotics, which kills good bacteria in addition to the bad bacteria, thus disrupting the balance of bacteria in colon.

Surge in demand for probiotics has led to increased investment in R&D to explore new areas of application of probiotics. However, government regulations in some of the countries such as Europe act as a threat for the growth of the market. There are strict regulations on probiotics health claims in the European Union. Market players need to provide scientifically proven data for the effectiveness of their probiotic products, thereby, many a times, leading to disapproval of health claims of probiotics products.

According to probiotics market analysis, the market is segmented on the basis of ingredient, function, application, end user, and region. On the basis of ingredient, it is categorized intobacteria and yeast. On the basis of function, the probiotics market is divided into regular, preventative healthcare, and therapeutic. As per application, it is divided into food & beverage, dietary supplement, and animal feed. According to end user, it is fragmented into human and animal. Region-wise, the probiotics market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Various types of probiotics available in the market include bifidobacteria and lactobacillus.

By ingredient, the bacteria segment was the highest revenue contributor in 2020, owing to its vast area of application and a wide variety of sub categories of bacteria. By function, the preventative healthcare held the largest probiotics market share in 2020. The growth of this segment is primarily attributed to growth in studies and researches being conducted to explore the application of probiotics in various diseases.

Emerging countries of Asia-Pacific and LAMEA are expected to boost the market growth in the coming years. Asia-Pacific held the largest probiotics market share in 2020, according to probiotics market forecast. Upsurge in disposable income and growth in demand for dietary supplements are expected to be the prime reasons for the market growth in the region. Application of probiotics in food & beverages and in animal feed is the major contributor in the Asia-Pacific probiotics ingredient market. Rise in awareness about animal health and growth in consumption of meat has led to increased demand for probiotics in the region.

Region-wise, Asia-Pacific is the largest and the most lucrative market, growing at the highest CAGR of 9.0% among all regions. North America is the second largest probiotics market. However, stringent regulations on the use of probiotics in products, threatens the growth of the North American market. Every stakeholder in the value chain, from raw material suppliers to distributors and retailers of probiotics, plays an important role to make the final product available to the consumers.

The Porter’s five forces analysis of the probiotics industry highlights the competition in the market with respect to the power of buyers, suppliers, manufacturers, and new entrants. In addition, growth in awareness about probiotics products among consumers and rise in number of studies to explore the benefits of probiotics in different health related issues has led to the new product launch and entry of new players. However, huge investments in R&D and marketing campaigns lead to moderate power of the new entrants.

High R&D costs for developing new probiotics strains, as well as international quality standards and regulations for probiotics products, are expected to hinder probiotics market growth during the forecast period. The market is struggling with the complexities of incorporating probiotics functional foods.

Demand for probiotics dietary supplements and nutrient-rich supplements for animals may boost the probiotics market in the near future. Probiotics is a driving force in the thriving digestive health supplement category, and people of all ages consume it. All these factors are probiotics market trends.

Probiotics is being used to improve immunity, feminine health, oral health, skin health, weight control &diabetes, cognitive health, sport endurance, the gut-brain axis, the gut-muscle axis, and cardiovascular health, in addition to digestive health. This has created probiotics market opportunities.

Probiotics have a positive impact on the market, owing to their importance in immune system strengthening. Probiotics, in particular, have been lauded as an effective supplementary method for combating the coronavirus. During the COVID-19 pandemic, for example, probiotics products were in high demand all over the world.

Product launches, partnership, acquisition, mergers & acquisitions, joint ventures, and geographical expansions are the key strategies adopted by players in the market. The key players in the global probiotics market include BioGaia AB, Danone, Chr. Hansen Holding A/S, Yakult Honsha Co. Ltd., Probi AB, Lifeway Foods, Inc., Nestle S.A., Ganeden, Inc., E. I. du Pont de Nemours and Company, and Protexin.

Key Findings of the Study

  • The global probiotics market size was valued at $34.1 billion in 2020, and is projected to reach $73.9 billion by 2030, registering a CAGR of 8.6%.
  • By region, Asia-Pacific was the highest revenue contributor, accounting for $12.3 billion in 2020, and is estimated to reach $27.6 billion by 2030, with a CAGR of 9.0%.
  • By ingredient, the bacteria segment was the highest contributor to the market, with $24.0 billion in 2020, and is estimated to reach $51.4 billion by 2030, at a CAGR of 8.5% during the forecast period.
  • By function, the preventative healthcare segment was the highest contributor to the market, with $18.1 billion in 2020, and is estimated to reach $42.3 billion by 2030, at a CAGR of 9.4% during the forecast period.
  • Byapplication, the dietary supplements segment was the highest contributor to the market, with $15.6 billion in 2020, and is estimated to reach $35.8 billion by 2030, at a CAGR of 9.2% during the forecast period.
  • By end user, the human segment was the highest contributor to the market, with $27.8 billion in 2020, and is estimated to reach $59.6 billion by 2030, at a CAGR of 8.5% during the forecast period.

Need More Information

pr-det-talk Talk to David (Europe)

pr-det-talk Talk to Sona Padman (Americas)

5933 NE Win Sivers Drive #205,
Portland, OR 97220 United States

pr-det-phone Toll Free: +1-800-792-5285

pr-det-phone UK: +44-845-528-1300

pr-det-phone Hong Kong: +852-301-84916

pr-det-phone India (Pune): +91 2066346060

pr-det-phone Fax: +1(855) 550-5975

pr-det-phone help@alliedmarketresearch.com

 

For Media Inquiries, Please Contact

Tushar Nagose
Communications Officer
Allied Market Research
Contact Toll Free: +1-800-792-5285
Drop us an email at
media@alliedmarketresearch.com

Looking for Customization?

 Customization Request

Have a Question?

 Speak with Analyst

Any Confusion?

 Inquire Before Buying

Have a glance of the Report

  Request Free Sample
 
 

First time buyer?
Check offers and discount on this report
To get this report

Click Here
 
 

quote Probiotics Market by Ingredient (Bacteria and Yeast), Function (Regular, Preventative Healthcare, and Therapeutic), Application (Food & Beverage, Dietary Supplements, and Animal Feed), and End User (Human and Animal): Global Opportunity Analysis and Industry Forecast 2021–2030 quote

View Report
 
 

Avenue: Entire Library membership of Allied Market Research Reports at your disposal

  • Avenue is an innovative subscription-based online report database.
  • Avail an online access to the entire library of syndicated reports on more than 2,000 niche industries and company profiles on more than 12,000 firms across 11 domains.
  • A cost-effective model tailored for entrepreneurs, investors, and students & researchers at universities.
  • Request customizations, suggest new reports, and avail analyst support as per your requirements.
  • Get an access to the library of reports at any time from any device and anywhere.

 
 

Why Allied Market Research?

Infallible Methodology

To ensure high-level data integrity, accurate analysis, and impeccable forecasts

Analyst Support

For complete satisfaction

Customization

On-demand customization of scope of the report to exactly meet your needs

Targeted Market View

Targeted market view to provide pertinent information and save time of readers

 

Featured Readings

 
rep-img

Published Date Feb 2023

Battery Packaging Market

Download Sample
rep-img

Published Date Feb 2023

Deoxidizer Market

Download Sample
rep-img

Published Date Feb 2023

Tappet Market

Download Sample
rep-img

Published Date Feb 2023

Ambulance Services Market

Download Sample
 

Get Fresh content delivered

Get insights on topics that matter to your business. Stay updated on the area that interests you.

 
Get Industry Data Alerts
 

Buy Full Version
"Probiotics Market"
Purchase Enquiry

Get fresh content delivered

Get insights on topics that are crucial for your business. Stay abreast of your interest areas.

Get Industry Data Alerts

Why Allied Market Research?

Infallible Methodology

To ensure high-level data integrity, accurate analysis, and impeccable forecasts

Analyst Support

For complete satisfaction

Customization

On-demand customization of scope of the report to exactly meet your needs

TARGETED MARKET VIEW

Targeted market view to provide pertinent information and save time of readers