Probiotics Market worth $105.7 billion by 2029 - Exclusive Report by MarketsandMarkets™

CHICAGO, March 21, 2024 /PRNewswire/ -- The Probiotics Market is projected to reach USD 105.7 billion by 2029 from USD 71.2 billion by 2024, at a CAGR of 8.2% from 2024 to 2029 according to a report published by MarketsandMarkets™. The probiotics market is experiencing significant growth due to a growing interest in preventive healthcare among consumers, who perceive probiotics as a natural means to enhance gut health and digestion. Awareness of gut-related issues is increasing, prompting individuals to seek potential relief through probiotic consumption. The demand for functional foods fortified with probiotics is on the rise, expanding the range of probiotic options available to consumers beyond traditional supplements.

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The probiotics market is expanding, propelled by consumer awareness and technological advancements.

The probiotic market is experiencing significant expansion, driven by multiple factors that underscore the growing demand for these beneficial microorganisms. Increasing consumer awareness of the potential health advantages associated with probiotics is a primary catalyst, prompting a surge in demand for products that support digestive health and overall well-being. Moreover, the prevalence of digestive disorders, such as irritable bowel syndrome (IBS) and inflammatory bowel disease (IBD), is fueling market growth as millions of individuals seek natural remedies like probiotics to alleviate symptoms and promote gut health.

Furthermore, technological advancements, particularly in microencapsulation, are revolutionizing the probiotics market by addressing longstanding challenges related to product stability and shelf life. Microencapsulation offers a protective barrier that shields probiotic bacteria from harsh environmental conditions, such as stomach acid and oxygen exposure, thereby enhancing their viability and effectiveness. This innovation not only extends the shelf life of probiotic products but also opens up new avenues for incorporating probiotics into a wider range of food and beverage applications, thus catering to diverse consumer preferences and driving continued market expansion.

In probiotics, the surge in functional food and beverage product types is driven by consumer demand for convenient health solutions and dietary diversity.

Functional food and beverages seamlessly integrate probiotics into consumers' daily routines, catering to the demands of modern, fast-paced lifestyles. Secondly, the segment offers a diverse array of products, ranging from probiotic-fortified yogurts and dairy drinks to functional kombuchas and enhanced water, thereby accommodating varied consumer preferences and dietary requirements. Furthermore, ongoing innovation within the functional food and beverage sector amplifies its dominance. Product developments such as probiotic-infused ice cream, chocolates for digestive health, functional gummies targeting specific health needs, and even probiotic beer tailored for health-conscious consumers signify the sector's adaptability and responsiveness to evolving consumer demands.

By ingredient, the bacteria segment dominance is propelled by the anticipation of future advancements and innovations, driving ongoing evolution and growth.

The dominance of bacteria in the probiotic market is underscored by historical precedence and extensive scientific research. With a centuries-old tradition of use in fermented foods like yogurt and kimchi, bacteria-based probiotics enjoy widespread consumer acceptance and confidence. The extensive research conducted on bacterial strains has established a robust foundation of scientific evidence supporting their various health benefits, ranging from digestive health to immune support.

In Distribution channels, the hypermarkets/supermarket segment dominates the probiotic distribution with convenience, variety, and promotional strategies.

Hypermarkets and supermarkets stand as formidable sources in the distribution of probiotics. Their extensive network of stores provides unparalleled convenience, ensuring that probiotic products are readily accessible to a diverse customer base. This accessibility aligns seamlessly with the preferences of busy consumers seeking integrated shopping experiences, wherein they can effortlessly incorporate their probiotic purchases alongside their routine grocery runs. Moreover, the expansive product offerings within hypermarkets and supermarkets present customers with a veritable paradise of probiotic choices. From a multitude of brands to diverse formulations spanning yogurt, supplements, and beverages, consumers benefit from informed decision-making tailored to their individual health goals and preferences.

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The End Use is predominantly driven by the human segment due to rising awareness, product innovation, and preventive healthcare focus.

Rising awareness of gut health and the burgeoning understanding of the gut microbiome's influence on overall well-being have propelled demand for probiotic products among consumers. This heightened awareness, coupled with the perceived benefits of probiotics for digestive health, immune support, and mental well-being, has led to a surge in demand for human-targeted probiotic formulations. Moreover, continuous product innovation within the human segment, including personalized formulations targeting specific health concerns and innovative delivery methods such as chewable tablets and controlled-release capsules, has further fueled market growth. Probiotics have expanded beyond traditional supplements and yogurt, penetrating various applications such as fortified foods, beverages, and topical applications, thereby catering to a wider audience and driving the sustained growth of the human segment within the probiotic market.

Asia Pacific dominated the Probiotics market during the study period.

The presence of established probiotic brands such as Yakult Honsha Co., Ltd. (Japan) has cultivated a culture of probiotic consumption, laying a robust foundation for market expansion. Furthermore, the region boasts a strong presence of companies, including MORINAGA MILK INDUSTRY CO., LTD. (Japan), Meiji Holdings Co., Ltd. (Japan), and Unique Biotech Ltd (India).

Moreover, the Asia Pacific region's dominance is reinforced by a growing health consciousness among consumers, highlighted by expanding awareness of the gut microbiome's impact on health. This trend, underscored by a June 2022 study published in the National Institutes of Health (NIH) journal, Nutrients, drives demand for probiotics addressing various health concerns, including digestive issues and immune function. The market's embrace of innovation is evident through the diversification of probiotic applications beyond traditional products like yogurt, encompassing fortified foods and beverages, topical applications for skin health, and even pet probiotics. This robust market ecosystem is further augmented by the growing popularity of e-commerce platforms, favorable regulatory environments, and government healthcare initiatives promoting preventive healthcare and healthy lifestyles across the region.

Key players in this market include Probi (Sweden), Nestlé (Switzerland), ADM (US), Danone (France), International Flavors & Fragrances Inc. (US), Yakult Honsha Co., Ltd. (Japan), BioGaia (Sweden), MORINAGA MILK INDUSTRY CO., LTD. (Japan), Meiji Holdings Co., Ltd. (Japan), Lifeway Foods, Inc. (US), Adisseo (France), Winclove Probiotics (US), AB-Biotics, S.A. (Belgium), Apsen Farmacêutica (Brazil), and Lallemand (Canada).

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