Probiotics Market Research Report - Forecast till 2030

Probiotics Market: Information by Type (Bifidobacterium, Lactobacillus and others), Application (Functional Food & Beverages, Dietary Supplements, Animal Nutrition and others) and Region (North America, Europe, Asia-Pacific, South America and Middle East & Africa) - Forecast till 2030

ID: MRFR/F-B & N/0460-CR | February 2021 | Region: Global | 111 Pages         

Probiotics Market

Probiotics Market Size is anticipated to reach USD 74 Billion by 2030, registering a CAGR of 8.5% during 2022-2030.

Segmentation

By Type Bifidobacterium Lactobacillus And Others
By Application Functional Food And Beverages Dietary Supplements Animal Nutrition And Others
By Region North America Europe Asia Pacific Rest Of The World

Key Players

  • Lallemand Inc.
  • Probi AB
  • CHR-Hansen A/S
  • Kerry Group
  • Synbio Tech Inc.
  • DowDupont Inc.
  • Novozymes A/S
  • Probiotic SpA
  • Roelmi HPC
  • UAS Laboratories LLC
  • Greentech SA

Drivers

  • The Health Benefits Associated with Probiotic Products
  • Better Awareness About the Usefulness Of Probiotic Products
  • The High Application of The Industry Offerings
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Probiotics Market Overview


The Probiotics Market is projected to grow at a CAGR of 8.5% and reach USD 74 Billion By the end of 2030. Probiotics can be defined as the combination of live beneficial yeast and bacteria in the human body. The use of probiotics has gained considerable popularity in recent times, and it has led to the expansion of the probiotics market size. The demand for probiotic products has surged as people are intaking them to maintain and restore their gut microflora. Due to its high popularity, probiotic elements are commonly used in processed food and preventive healthcare solutions. According to the National Institutes of Health (NIH), several probiotic supplements contain 1 to 10 billion CFU (colony forming units) per dose. In comparison, some might contain up to 50 billion CFU or even more.   


The rise in health consciousness among people is likely to drive Probiotics market performance at the global level. As probiotic products can improve the digestive health of humans, people have preferred food products that contain probiotic elements. Since the product can be used in different industries, its demand has further expanded lately. 


A thorough market evaluation has been conducted to capture the growth potential of the probiotics market in the future. Several market variables have been taken into consideration, including opportunities, drivers, restraints, and challenges. Each of these elements could directly affect the performance and profitability of the Probiotics market in the future.


COVID 19 analysis


The COVID 19 pandemic has brought about a major shift in the global probiotic industry by changing consumer buying behavior and purchasing patterns. In the current times, several people have become highly conscious about what food they intake. People have showcased an inclination towards nutritionally rich and healthy food, which has positively influenced the probiotics market. With the sudden Covid 19 outbreak, many people started panicking and piling up on nutrient boosters. Such behavior played a key role and positively influenced market performance. During the forecasted period, the Probiotics market is expected to continue to showcase commendable performance owing to the health-conscious nature of the customers. 


Chief variables existing in the market



  • Key market drivers


The chief drivers that are likely to contribute to the market's growth include:



  • The health benefits associated with probiotic products.

  • Better awareness about the usefulness of probiotic products.

  • The high application of the industry offerings.


As people have become more health-conscious, they have been showing interest in purchasing healthy food offerings with probiotic components. 



  • Market challenges


The businesses operating in the probiotics market could come across several challenges in the probiotics market setting, such as high complexity relating to the integration of probiotics in functional foods and a high level of competition. While operating in the global market setting, businesses need to devise their strategies by taking into account the challenges to effectively function in the global business setting. 



  • Opportunities in the global market


Numerous opportunities arise in the probiotics market that could be capitalized on by businesses that operate in it. One of the key opportunities is that probiotics have the potential to replace pharmaceutical agents. Another opportunity is the integration of new kinds of technologies to improve the efficiency and functionality of probiotic products that are introduced in the market 



  • Restraints


Several restraints are existing the global probiotic market that limits its attractiveness. Some of the major restraining factors include stringent regulations and international quality standards related to probiotic products. These elements could increase the complexity in the market setting. 


Cumulative evaluation of the market


The in-depth evaluation of the global probiotic market has been conducted by focusing on diverse market variables like opportunities, drivers, etc. One of the chief drivers of the market is the health benefits of probiotic products. Even though several favorable elements exist in the market that could positively influence its future growth, there are also certain restraining elements. One of the key restraints that have been identified in the market analysis is the high complexity of integrating probiotic elements in functional foods. A detailed evaluation of the competitive landscape has been presented in the report as the players could play an influential role in molding the global probiotic market performance. 


Overview of the main market segments



  • By Type


Based on type, the probiotics market can be segmented into bifidobacterium, lactobacillus, and others. Bifidobacterium and lactobacillus are the most commonly used probiotic bacterial strains, and they are expected to showcase consistent performance during the forecasted period. Since they are found in a diverse range of dairy products such as yogurt, their demand is expected to surge among people who prefer dairy-based products. To capitalize on the opportunity, several businesses and manufacturers have been coming up with new offerings in the yogurt category. 



  • By Application


Based on application, the probiotics market can be further divided into functional food and beverages, dietary supplements, animal nutrition, and others. The functional food and beverages category can be further sub-divided into dairy products, non-dairy beverages, cereals, and infant foods. The functional food and beverages segment has been projected to be the largest market segment in the future. The rising popularity of probiotics is expected to contribute to the commendable performance of the specific market segment. However, the use of probiotics in animal feed market is likely to play a key role and act as a major driving factor in the European region. The probiotics whole foods market is also likely to play a key role in improving profitability at a global scale. 


Regional analysis


The probiotics market can be categorized into several geographical segments: North America, South America, Europe, the Asia Pacific and the Middle East, and Africa. In each of the regions, varying market drivers could come into play and influence its performance. The North American segment is expected to capture the largest portion of the probiotics market share during the forecasted period. Some factors that could help the region flourish include the U.S.'s solid performance, where several prominent business participants operate, and the increase in interest to consume healthy and functional food and beverages. The Asia Pacific market segment is also expected to act as a major contributor during the forecasted period.


Competitive intensity in the industry


The global probiotic market is considered to be one of the most competitive markets of the current times. The rise in awareness of the products has increased its attractiveness and further expanded the number of business participants that operate in the industry. Some of the major market players that play a dominating role at the global level have been listed below: 



  • Lallemand Inc.

  • Probi AB 

  • CHR-Hansen A/S

  • Kerry Group

  • Synbio Tech Inc.

  • DowDupont Inc.

  • Novozymes A/S

  • Probiotic SpA

  • Roelmi HPC

  • UAS Laboratories LLC

  • Greentech SA


Recent market developments



  • FANCL, a prominent business entity in the global probiotics industry, has devised an encapsulation technology that enables bifidobacterium to survive in a low pH environment even after two hours of exposure.

  • Several businesses have been working on innovative digital technologies such as novel coating and filming techniques to increase the shelf life of probiotic products. 


Report Overview


The comprehensive probiotics market report gives an insight into diverse variables in the industry and influences its performance. The market's attractiveness is considered high due to factors such as the increase in awareness of the benefits associated with probiotic products and the surge in demand for industrial offerings. These factors could favor the industry and lead to its favorable performance and profitability at the global level during the forecasted period. However, the detailed evaluation has also shed light on various restraining factors that could restrict its growth potential. In the highly competitive and unpredictable market landscape, the operating businesses need to devise their strategy by conducting a detailed situation analysis and considering the macro and micro environmental factors. It could influence their ability to capture a major portion of the probiotics market share. The use of diverse strategic tools such as the PESTLE framework, SWOT analytical model, and Porter's Five Force analytical model has increased the richness of the market analysis. 


Key Industrial segments


By Type



  • Bifidobacterium

  • Lactobacillus and 

  • Others


By Application



  • Functional food and beverages

  • Dietary Supplements

  • Animal Nutrition and 

  • Others



Report Scope:

Report Attribute/Metric Details
  Market Size   USD 74 Billion
  CAGR   8.5%
  Base Year   2021
  Forecast Period   2022-2030
  Historical Data   2020
  Forecast Units   Value (USD Billion)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   By Type, Application and Region
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Lallemand Inc., Probi AB, CHR-Hansen A/S, Kerry Group, Synbio Tech Inc., DowDupont Inc., Novozymes A/S, Probiotic SpA, Roelmi HPC, UAS Laboratories LLC, Greentech SA
  Key Market Opportunities   Integration of new kinds of technologies to improve the efficiency and functionality of probiotic products
  Key Market Drivers   The Health Benefits Associated with Probiotic Products, Better Awareness About the Usefulness Of Probiotic Products, The High Application of The Industry Offerings


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Frequently Asked Questions (FAQ) :

Probiotics Market is projected to have a CAGR of 8.5% during the forecast period.

Probiotics Market has a valuation of USD 74 Billion by 2030.

Lallemand Inc., Probi AB ,CHR-Hansen A/S, Kerry Group, Synbio Tech Inc., DowDupont Inc., Novozymes A/S, Probiotic SpA, Roelmi HPC, UAS Laboratories LLC, Greentech SA are the Major Companies Operating in Probiotics Market.

The US would lead the North American Probiotics Market.