Published On: December 2022
Probiotics are live microorganisms found in food and supplements that can help improve digestive health. They help maintain a healthy balance of bacteria in the gut and support the body's natural functions. They boost the immune system, reduce inflammation, and improve digestion. The global probiotics market is one of the fastest-growing markets in the healthcare industry. This market is driven by rising awareness of probiotics, increasing health concerns, growth in the functional food industry, and the introduction of new and innovative probiotic products. Increasing consumer health consciousness and the increasing demand for functional foods are driving the market's growth.
According to the probiotics market outlook, the probiotics market size is anticipated to reach USD 74 billion by 2030, registering a CAGR of 8.5% during 2022-2030. The growth is accredited to the increasing demand for probiotics in dietary supplements, functional foods, and other applications like increasing prevalence of gastrointestinal issues, rising consumer awareness about health and wellness, and increasing focus on preventive healthcare.
The probiotics industry includes various kinds of food and beverages, dietary supplements, and animal feeds. Of these, the dietary supplement segment is expected to witness the highest growth because of the rising awareness of its benefits and suitability for various age groups. Furthermore, advancements in the food & beverage segment also contribute to the market's growth. In terms of application, it includes digestive health, immunology, women's health, skin health, and other applications. The digestive health segment is expected to be the largest segment due to the increasing prevalence of digestive disorders and the increasing use of probiotics to improve digestion. In terms of distribution channels, the market includes online stores, retail stores, and direct-to-consumer. Of these, the retail store segment is expected to be the largest segment, according to the probiotics market analysis.
The rising investment in research and development activities to develop innovative probiotics products has further accentuated the market's growth. Several companies are focusing on introducing probiotics in their product portfolio.
Furthermore, increasing application in the animal feed industry is expected to provide moneymaking opportunities for market growth. The rising demand for animal-based products, particularly in developing countries, is expected to drive the demand for probiotics in animal feed. The increasing awareness about the benefits associated with probiotics, such as gut health and disease prevention, is expected to fuel the market's growth.
According to the region-based probiotics market analysis, North America is expected to remain the largest probiotics market. This is due to the surging demand for dietary supplements with probiotics and the influence of the growing number of health-conscious consumers. Consumers in this region are becoming increasingly aware of the benefits of probiotics, such as improved digestive health and increased immunity.
The Asia-Pacific region is projected to be the fastest-growing global probiotics market. This is due to the increasing adoption of healthy diets, the growing awareness of the health benefits of probiotics, and the increasing number of health-conscious consumers in this region.
The functional food category is expected to be the largest category in the global probiotics market. This is due to the surging demand for probiotics-based foods, such as yogurt, which has been proven to aid digestion, improve immunity, and reduce the risk of certain chronic diseases.
Overall, the global probiotics market is expected to continue to experience strong growth, driven by the increasing demand for probiotics-based dietary supplements, functional foods, and animal feed, as well as the growing awareness of the health benefits of probiotics.