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The probiotics market has surged in recent years, driven by increased awareness of the importance of gut health and its impact on overall well-being. This burgeoning sector has witnessed a dynamic competitive landscape shaped by various factors, including innovation, strategic partnerships, and a focus on research and development. Key players dominating this space include companies like Danone, Nestlé, Yakult Honsha, and Chr. Hansen Holding A/S. These industry giants have maintained their market position through a combination of brand recognition, extensive product portfolios, and global distribution networks.
Share:
Factors influencing market share analysis in the probiotics industry are multifaceted. Quality, efficacy, and safety of probiotic strains play a pivotal role in consumer choices. Companies that invest in clinical trials and scientific research to demonstrate the health benefits of their products tend to gain consumer trust and a larger market share. Additionally, marketing strategies, pricing, and distribution channels significantly impact market penetration and brand visibility.
Emerging companies in the probiotics market have been steadily making their mark, leveraging innovation and unique formulations to carve out a niche. Start-ups like Seed Health and UAS Labs are gaining traction by focusing on scientifically-backed formulations and personalized solutions, targeting specific health concerns beyond digestive health. These emerging players challenge established norms, contributing to the market's competitive dynamics and driving innovation.
Industry News:
Industry news in the probiotics sector reflects a continuous stream of developments, including collaborations, product launches, and regulatory changes. Partnerships between probiotics companies and pharmaceutical firms or food and beverage giants to develop functional foods and supplements have been prevalent. Moreover, regulatory shifts and evolving consumer preferences towards clean label and natural products have influenced product innovation and market strategies.
Current company investment trends underscore a growing interest in the probiotics market. Investments are pouring into research and development, production facilities, and marketing efforts aimed at capturing a larger market share. Venture capital firms and larger corporations are actively seeking opportunities to invest in innovative probiotics start-ups, recognizing the potential for substantial growth in this segment.
Overall, the competitive scenario in the probiotics market is characterized by a balance between established players consolidating their positions and newer entrants disrupting the status quo. Innovation, scientific validation, and consumer education are pivotal in driving market growth and influencing consumer choices. The market's trajectory remains dynamic, shaped by technological advancements, shifting consumer preferences, and regulatory landscapes, ensuring a continuously evolving and competitive industry.
Recent News:
Key Companies in the Probiotics market include
Probiotics Market Size valued at USD 44.051 billion in 2023. The Probiotics market industry is projected to grow from USD 47.79534 Billion in 2024 to USD 84.604 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 7.40% during the forecast period (2024 - 2032). Increased awareness about the health benefits related to the consumption of probiotics and increased application of the industry offerings are the key market drivers enhancing the market growth.
Source: Primary Research, Secondary Research, MRFR Database, and Analyst Review
Market CAGR for the probiotic market is being driven by rising health awareness among consumers. The majority of people suffer from gastrointestinal infections, digestive issues, obesity, and other ailments. Thus, the market players have invented probiotic products to help in the treatment of such diseases; thus, there is a rise in the preference for natural products. The probiotic demand has grown because of the increase in the consumption of functional foods, which provides basic nutrition and have the ability to improve health.
The surging consumption of functional and dietary supplements which have probiotics is anticipated to fuel the growth of the market. Yogurt’s products are attaining huge demand for which manufacturers are consistently developing a variety of products, hence driving the market growth of probiotics. The growth in food & beverage among health-conscious consumers is expected to fuel the market growth of probiotics. The Covid-19 emergency to keep oneself immune was one of the reasons for the rise in demand for immunity-boosting products like a probiotic in the market. Presently consumers are much aware of dietary supplements and functional foods and their importance in ensuring better health and well-being, like boosting immunity, maintaining gut health, weight management, and many more. The increasing health consciousness among consumers and the emerging trend of veganism are making consumers shift towards a plant-based diet, which is expected to fuel the demand for plant-based products. Therefore, there are many niche market players that are embarking on launching the plant-based probiotic.
The increasing investment that is made by key companies in research and development for innovating new products is expected to grow the probiotic market. Technological advancement has factors gaining popularity in the probiotic market. There are two forms in which probiotics are produced, that is liquid and dry. The probiotics are produced in liquid forms such as probiotic liquid supplements, yogurt drinks, and fermented beverages like kefir and kombucha. These are used by humans and animals and sold through multiple distribution channels like hypermarkets or supermarkets, pharmacies or health stores, convenience stores, online, and others. Thus, driving the Probiotics market revenue.
The Probiotics market segmentation, based on source, includes Bacteria and Yeast. The bacterial source dominates the market. The bacterial strains like Lactobacillus and Bifidobacterium are largely used for probiotic products for animal and human consumption. Historically they are popular sources and are widely researched microorganisms; hence the rise in acceptance of probiotics by consumers, the bacteria segment will dominate the market.
Figure 1: Probiotics Market, by Source, 2022 & 2032 (USD billion)
Source: Primary Research, Secondary Research, MRFR Database, and Analyst Review
The Probiotics market segmentation, based on application, includes Functional food and beverages, Dietary Supplements, Animal Nutrition, and Others. Functional food & beverage dominates the market with a large revenue share in the market globally. Probiotics are used in this industry to elevate the total nutritional value and flavor of baked goods. The consumption of probiotic-permeated baked products like, muffins and healthy bars has increased in recent years due to the rising awareness of its preventive healthcare properties. Probiotic dietary supplements are also gaining popularity among customers those who are looking for natural solutions to health ailments.
By region, the study gives market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North American probiotic market is expected to dominate this market, owing to an increase in consumer awareness about the health benefits of probiotics. Additionally, the regional market players invest in research and development to manufacture new products for consumers of different ages and genders. The US is the largest presenter of the probiotic market owing to the rise in interest in consuming healthy and functional food & beverages.
Further, major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: PROBIOTICS MARKET SHARE BY REGION 2022 (%)
Source: Primary Research, Secondary Research, MRFR Database, and Analyst Review
The Asia-Pacific Probiotics Market accounts for the second-largest market share due to expanding awareness of a healthy lifestyle and nutrition and rising population and per capita disposable income. Moreover, China’s Probiotics market held the largest market share, and the Indian Probiotics market was the fastest-growing market in the Asia-Pacific region.
Europe's Probiotics market is experiencing considerable growth in the market share as the people here are becoming aware of its health benefits and the presence of a variety of products. Further, the UK Probiotics market held the largest market share in the European region.
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Probiotics market grow even more. Market participants are also undertaking a variety of strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the Probiotics industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the Probiotics industry to benefit clients and increase the market sector. In recent years, the Probiotics industry has offered some of the most significant advantages to health-conscious consumers. Major players in the Probiotics market, including Lallemand Inc., Probi AB, CHR-Hansen AA/S, Kerry Group, Synbio Tech Inc., DowDupont Inc., Novozymes A/S, Probiotics SpA, Roelmi HPC, UAS Laboratories LLC, Greentech SA., and others, are attempting to increase market demand by investing in research and development operations.
BioGaia is a Swedish healthcare company and the world's number one in probiotics. It puts together the well-researched probiotic bacteria Lactobacillus reuteri and top-line engineering to develop unique packaging solutions that make it possible to create probiotic products matching the customer's needs. The class B share of BioGaia is quoted on the Mid Cap list of the Nordic Exchange Stockholm. BioGaia, a biotechnology company, announced the collaboration with Skinome for doing research and development of a product using live bacteria, which will improve skin health in a natural way by supporting the skin microbiome in the year 2022. In August 2022, along with wholly-owned subsidiary Metabogen (a research and development), it launched a probiotic product and spread its product portfolio with new bacterial strains. In July 2022, BioGaia company developed a probiotic product to help children with respiratory health, which focuses on strengthening the immune system and supporting children's upper respiratory health.
Neuraxpharm is a top European specialty pharmaceutical company focused on treating central nervous system disorders with direct business in 20 countries. With a focus on CNS, Neuraxpharm launches and commercializes established brands, value-added medicine, generics, Consumer Healthcare products, medical cannabis, and beyond-the-pill solutions and is constantly focused on providing a wide range of effective, high quality and affordable CNS treatment options in Europe. It has its products in more than 50 countries; Neuraxpharm also manufactures pharmaceutical products (FDFs) and active pharmaceutical ingredients (APIs) in its own manufacturing sites in Spain, Lesvi, and Inke. In May 2019, Neuraxpharm Group launched its first probiotic in the regional market that, follows a special licensing contract with Bened Biomedical Co., Ltd.
Probiotics Industry Developments
May 2022: Osfortis was launched by BioGaia in the Chinese market through the cross-border e-commerce channel. Osfortis is a prebiotic dietary supplement that consists of patented lactic acid. China being the first Asian market for BioGaia will help the company to get high demand from potential to its benefit.
February 2022: AB-Biotics signed a strategic partnership with AceBiome to expand the presence of AB21 probiotics through various pharmacies and digital channels in South Korea. The company took the initiative to spread its customer base and geographical reach and use the increasing business opportunities in the Asia Pacific region.
October 2021: General Mills Inc launched Doolies, which is a fruit and fiber-packed snack for kids. It contains the stable probiotic BC-30, which maintains digestive and immune health. The product is going to help the company to spread its probiotics portfolio that serves the kids population.
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