Global Probiotics Market - Focused insights 2024-2029

INDUSTRY OVERVIEW

The global probiotics market was valued at USD 70.95 billion in 2023 and is expected to reach USD 115.07 billion by 2029, growing at a CAGR of 8.39%. The growing awareness about the health benefits of probiotics, such as improved gut health and overall digestive function, and increased consumption of functional dairy products is anticipated to boost the growth of the global market. The increasing prevalence of lifestyle diseases drives the demand for probiotics as part of a holistic approach to health maintenance. The rising prevalence of digestive disorders such as gastroesophageal reflux disease, lactose intolerance, and hiatal hernia, combined with the growing number of women suffering from obesity, diabetes, vaginal infections, and other issues, is creating a favorable industry across the world. Also, constantly developing and launching innovative products is essential for vendors operating in this highly competitive probiotics market to achieve healthy sales growth and increase market share.

MARKET TRENDS & DRIVERS

Rapid Growth of E-Commerce

Consumers can purchase probiotics at retail stores, company websites, and e-commerce platforms such as Amazon, Carrefour, E. Leclerc, etc. The major probiotics market players focus on selling probiotics on e-commerce platforms. Moreover, due to the increasing use of social media platforms and advances in advertising tools such as Google Ads, Facebook ads, and others, the e-commerce business is increasing. Thus, e-commerce gives necessary exposure to businesses and easy reach to customers.

Increase in Acceptance of Probiotic-based Dietary Supplements

Nowadays, people are following diet patterns due to rising diseases and increasing awareness about maintaining overall health. In dietary patterns, people prefer to eat healthy food and beverages. The dietary pattern is much more helpful than eating individual nutrition or food. Probiotics are used in the diet to improve gut health and maintain overall health. A balanced diet gives more benefits in which vitamins, nutrients, and minerals help to keep the mind and body healthy and strong. Probiotics help to maintain body weight and decrease obesity. As the various diseases are increasing due to unhealthy habits and rising infectious diseases, there is a need to maintain immune health.

High Consumption of Dairy-based Products

Increasing knowledge about functional food leads to the demand for healthy food with adequate nutrition. In the last few decades, the interest in buying functional foods that contain probiotics has increased. Products that contain probiotics have various health benefits for humans and animals. Thus, companies in the probiotics industry focus on developing new applications and a new generation of probiotics in functional foods. Dairy-based drinks of probiotics are consumed in larger quantities than other probiotic beverages. In dairy-based probiotics, L. rhamnosus GG bacteria are used widely across Europe. L. rhamnosus GG is the most suitable bacteria that can be used in many industrial applications.

WHY THIS REPORT?

This report provides

1. A thorough insight into the structure and size of each industry segment.
2. An Analysis of several micro-market indicators considering growth factors, industry prospects, and strategic contribution to the industry.
3. Overviews of top manufacturers/marketed products, pipeline analysis, clinical trial analysis, competitive landscape, vendor profiles, mergers & acquisitions.
4. Provide strategic planning, such as comprehensively understanding consumer behavior, competitors, new product development, geographic market expansion, and merger & acquisition pipelines.
5. Insights to formulate effective sales and marketing strategies by understanding the competitive landscape and analyzing various competitors' performance.
6. Identifies emerging players with potentially strong product portfolios and creates effective counter strategies to gain a competitive advantage.

SEGMENTATION INSIGHTS

INSIGHTS BY PRODUCT

The global probiotics market by product is segmented into functional food & beverages and dietary supplements. The functional food & beverages product segment held the most significant global industry share in 2023. Functional food and beverages-based product type is sub-segmented into dairy-based probiotics and non-dairy-based probiotics. Dairy-based probiotics include milk-based, yogurt-based, cheese-based, and others. Non-dairy-based probiotics include vegetable-based probiotics, fruit-based probiotics, cereal-based probiotics, and meat-based probiotics. Furthermore, probiotics in functional foods have provided several benefits to human health. Thus, companies have started offering different types of functional foods with probiotics. The overall consumption of dietary supplements such as vitamins, minerals, supplements, and others is increasing. Consumers prefer dietary supplements for improving overall health. Functional food and beverages and dietary supplements are the major product types of probiotics.

INSIGHTS BY INGREDIENTS

The bacteria ingredients segment dominated the global probiotics market in 2023. Lactobacillus bacteria are the most common bacteria used for making probiotics. They are available in yogurt and other fermented foods. They help with diarrhea, skin disorders, vaginal infections, and other diseases. They form a biofilm in the gut microbiota. They protect the gut by maintaining the number of good bacteria.

INSIGHTS BY AGE GROUP

The adult age group segment was the major revenue contributor to the global probiotics market in 2023. The rise in the prevalence of chronic diseases such as diabetes, obesity, lactose intolerance, allergy, and others is the major factor contributing to the industry growth during the forecast period. Due to various diseases, infections, and digestion-related issues can disturb gut health in young adults. Many chronic diseases such as diabetes, high blood pressure, allergic diseases, and other diseases disturb gut health in middle-aged and older generic adults. Doctors prescribe them to improve gut health for adults. Also, due to changing habits and unhealthy lifestyles, many harmful chemicals are consumed by people from food and beverages, which affect overall gut health. Thus, probiotics help to improve gut health by increasing good bacteria.

INSIGHTS BY DISTRIBUTION CHANNELS

The global probiotics market by distribution channels is segmented into supermarkets & hypermarkets, departmental stores, drug stores, and online stores. The supermarkets & hypermarkets segment was the major revenue contributor, with a share of over 61% in 2023. The expansion of supermarkets and hypermarkets is the primary reason for the increase in the demand for probiotics in the global market. Furthermore, due to intense competition, supermarkets and hypermarkets offer discounted products. Such stores are always trying to attract customers' attention. As customers get probiotic products at such stores at discounted prices, the demand for probiotic-based products is increasing in supermarkets and hypermarkets.

INSIGHTS BY APPLICATION

The global probiotics market by application is segmented into digestive health, immune health, metabolic health, and others. The digestive health segment accounted for the largest global industry share in 2023 and is anticipated to retain its industry dominance during the forecast period. Probiotics such as lactobacillus, Bifidobacterium, and saccharomyces boulardii are widely used for maintaining digestive health. These probiotics help ease the symptoms of digestive diseases and other related conditions. Opportunities for probiotic-fortified food and beverages with digestive health benefits are driven by increased interest in key consumer groups, including an expanding population aged 60 and older and families with children.

GEOGRAPHICAL ANALYSIS

North America dominated the global probiotics market share, accounting for over 36% in 2023. Due to increasing health consciousness and awareness among people, the consumption of probiotics is increasing in North America. Demand for digestive-related products in North America is growing, and food and beverage producers are responding by aggressively launching products that offer positive digestive health benefits. Further, the players are adopting new strategies such as mergers, acquisitions, partnerships, and collaborations with key vendors to expand their distribution network, which is expected to drive regional industry growth during the forecast. For instance, in 2021, BioGaia launched Immune Boast in collaboration with Everidis in North America. Immune Boost comprises drops for small children, tablets for children, and adult capsules.

The European probiotics market is growing at a healthy rate and is expected to grow at a similar pace during the forecast period. The significant share of the region in the probiotics industry is mainly due to increasing health consciousness and awareness among people, and the consumption of probiotics is increasing in Europe. Also, in many countries, such as Germany, France, and the UK, cancer is one of the significant causes of death. As probiotics are used as an adjuvant in cancer therapy and treatment for allergy-related diseases, the demand for probiotics is increasing in those countries.

COMPETITIVE LANDSCAPE

The global probiotics market is highly competitive. With the growing health consciousness and awareness, various small and mid-sized companies are entering the industry to expand their presence in this ever-increasing market. The emphasis on developing and discovering innovative products has helped garner a high customer base for key players. The competition in the global industry is intense, with several global players offering diverse products. Some companies dominating the probiotics industry include Nestle, Probi, Danone, Chr.Hansen, Yakult Honsha Co., Ltd and others. The major players focus on strategic acquisitions, licensing, and collaboration agreements with emerging players to enter the probiotics industry and access commercially launched products. For instance, in 2022, Nestle launched a product in infant microbiome under the brand name WYETH S-26 ULTIMA in collaboration with Pennington Biomedical Research Center.