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The probiotics market size is projected to increase by USD 32.06 billion and the market size is estimated to grow at a CAGR of 7.84% between 2023 and 2028.
The report offers extensive research analysis on the Probiotics Market, with a categorization based on End-user, including human probiotics and animal probiotics. It further segments the market by Product, encompassing probiotic functional food and beverage, dietary supplements, and animal feed. Additionally, the report provides Geographical segmentation, covering APAC, Europe, North America, the Middle East and Africa, and South America. Market size, historical data (2018-2022), and future projections are presented in terms of value (in USD billion) for all the mentioned segments.
One of the key factors driving the probiotics market growth is the product innovations. The main purpose of the innovations in technology and manufacturing processes is to improve the stability and viability of probiotic strains, ensuring their survival through the digestive system for maximum efficacy. In addition, innovations focus on developing probiotic strains tailored to specific health needs, including gut health, immunity, women's health, mental wellness, and even skincare. Moreover, customized formulations address niche markets and attract consumers seeking targeted benefits. In addition, advanced packaging technologies help preserve probiotic viability and extend shelf life by protecting the live cultures from moisture, oxygen, light, and temperature fluctuations. Therefore, this ensures that the probiotics remain effective until the expiration date, enhancing consumer trust in the product. Hence, such factors are driving the market growth during the forecast period.
The Probiotics Market shows an accelerated CAGR during the forecast period.
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A key factor shaping the probiotics market growth is the increasing application of probiotics in the cosmetic industry. There is an increasing preference for natural skincare solutions by several consumers. Therefore, probiotics, being naturally occurring microorganisms, fit into the trend of seeking products perceived as more natural and holistic. In addition, the concept of the gut-skin axis has gained traction, highlighting the interconnection between gut health and skin conditions.
Moreover, probiotics, known for their potential to balance the gut microbiome, are being explored for their impact on skin health. In addition, clinical studies have proved that probiotics form a protective layer that protects skin from inflammation, UV rays, and dehydration. Furthermore, probiotics have demonstrated anti-inflammatory properties, which can be beneficial for calming irritated or sensitive skin, making them attractive ingredients in skincare products. Hence, such factors are driving the market growth during the forecast period.
High prices of probiotic products in developing countries are one of the key challenges hindering the probiotics market growth. Even though probiotics have several health benefits, the premium pricing of these products often poses a major challenge to the market. For example, the average price of probiotic yogurt in 2022 is USD 2.4 per ounce as opposed to USD 1 per ounce for regular yogurt.
Moreover, these products are priced at a premium due to various reasons such as patents, the inclusion of natural probiotic ingredients, or a combination of many strains. In addition, in countries such as India, where yogurt is often made at home, increasing the probiotic yogurt prices would be a grave challenge for market growth. Furthermore, in South Africa, the market is still underdeveloped and underpenetrated. Hence, such factors are negatively impacting the market which in turn will hinder the market growth during the forecast period..
The rising awareness about the benefits of the probiotic functional food and beverage segment will increase the market growth. Several consumers are increasingly seeking food products that offer health benefits beyond basic nutrition. Therefore, functional foods containing probiotics are perceived as supporting digestive health, immunity, and overall well-being, aligning with health-conscious consumer trends. In addition, the growing demand for functional foods, coupled with the introduction of innovative products and ingredients, is fuelling the global probiotics market. Moreover, probiotics, known for their potential to balance gut flora, aid digestion, and alleviate such issues, are sought after by consumers looking for natural solutions. Hence, such factors are fuelling the growth of this segment which in turn will drive the market growth during the forecast period.
The human probiotics segment is estimated to witness significant growth during the forecast period. The increasing awareness of the importance of gut health has resulted in an increased interest in probiotics among consumers. In addition, many are seeking ways to improve their digestive health and overall well-being. Furthermore, probiotics are increasingly recognized for their potential to support immune function.
The human probiotics segment was the largest segment and was valued at USD 45.46 billion in 2018.
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Moreover, the demand for human probiotics is expected to increase during the forecast period because of the growing health awareness among end-users (human beings) globally. In addition, with time, the skin's pH rises, and it may also grow drier. Furthermore, an imbalance in bacteria might be made simpler by modifications to the moisture barrier. In addition, probiotics increase the skin moisture barrier, lower oxidative stress, lessen UV-induced skin damage, preserve the pH of the skin, and improve the quality of hair. Hence, such factors are fuelling the growth of this segment which in turn will drive the market growth during the forecast period.
APAC is estimated to contribute 37% to the growth of the global market during the forecast period
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Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. One of the main factors that are contributing to the growth of the market growth in APAC is its extensive use of dairy products. In addition, Japan is the largest market worldwide; the other major markets in APAC include China, India, and Australia. Moreover, China is the first-largest probiotics market in APAC after Japan. In addition, the probiotics market in China is growing at a fast rate due to its high demand for various probiotic products, particularly yogurt and functional foods. Furthermore, manufacturers in the market have identified China as a country with substantial potential for growth over the next five years. For instance, Yakult makes a wide range of products, like fermented milk drinks and yogurts, and in other fields, including foods and beverages, cosmetics, and pharmaceuticals. Hence, such factors are driving the market growth in APAC during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The probiotics market report also includes detailed analyses of the competitive landscape of the market and information about 24 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The probiotics market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
Probiotics Market Scope |
|
Report Coverage |
Details |
Page number |
167 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 7.84% |
Market Growth 2024-2028 |
USD 32.06 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
7.36 |
Regional analysis |
APAC, Europe, North America, Middle East and Africa, and South America |
Performing market contribution |
APAC at 37% |
Key countries |
US, Japan, China, Germany, and UK |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
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, and Yakult Honsha Co. Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Product
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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