Probiotics Market are expected to generate USD 147.99 billion by 2032, growing at a compound annual growth rate (CAGR) of 8.37% between 2020 and 2032. The growing demand for probiotic-containing food products with a health focus and businesses' growing usage of cutting-edge technologies are the main factors driving this market expansion.
The Probiotics market was valued at USD 48.88 billion in 2019 and is anticipated to grow significantly in the years to come, according to a Fortune Business Insights report titled "Probiotics Market Size, Share & Industry Analysis, By Microbial Genus (Lactobacillus, Bifidobacterium, and Yeast), Application (Functional Foods & Beverages, Dietary Supplements, and Animal Feed), Distribution Channel (Supermarkets/Hypermarkets, Pharmacies/Health Stores, Convenience Stores, Online Retail, and Others), and Regional Forecast, 2020-2032."
List of the Companies Profiled in the Market:
- Danone S.A. (Paris, France)
- Lallemand Inc. (Canada)
- Yakult Honsha (Japan)
- Nestlé S.A. (Vevey, Swizerland)
- DuPont (Danisco A/S) (Delaware, United States)
- Hansen (Horsholm, Denmark)
- Kerry Inc. (Tralee, Ireland)
- Post Holdings, Inc. (Missouri)
- Pepsico, Inc. (New York, United States)
- Evolve Biosystems, Inc. (Davis, California)
Information Source: https://www.fortunebusinessinsights.com/industry-reports/probiotics-market-100083
Increasing Consumption of Healthy Food Products amid COVID-19 to Stoke Demand
Demand for immunity-boosting goods like probiotics is predicted to increase as people try to lower their chance of catching the coronavirus by eating a healthy, balanced diet. Probiotics, which are made up of good bacteria and yeasts, are essential for intestinal balance and digestive health. Common supplements like Lactobacillus, Bifidobacterium, and Saccharomyces are easily accessible and, when taken on a regular basis, provide a number of health advantages. Probiotics are well known for their beneficial effects on heart and brain health in addition to gastrointestinal health. In order to strengthen the immune-boosting qualities of foods like yogurt, these advantageous bacteria are frequently added.
What does the Report Include?
The probiotics industry is anticipated to face a variety of opportunities, obstacles, growth factors, and difficulties throughout the forecast period; these are all covered in detail in the market study. The study also explores the characteristics of the regional markets and how they would influence growth in this period. Our research analysts have used a variety of techniques, including advice from seasoned business experts, to gather this data. Additionally, the section on the competitive environment provides a thorough summary of the tactics used by businesses to maintain their market dominance between 2020 and 2032. These tactics consist of mergers and acquisitions, joint ventures, the introduction of new products, and cooperative projects.
SEGMENTATION
Supermarkets/Hypermarkets Segment Held a 61.33% Market Share in 2019
With a market share of roughly 61.33% in 2019, the supermarkets/hypermarkets segment is expected to increase significantly. The broad product availability, convenient accessibility, and alluring cashback and discount offers that keep customers interested are the main drivers of this growth.
DRIVING FACTORS
Increasing Consumption of Immunity Boosting Food Products to Spur Demand
The need for wholesome, well-balanced diets is being fueled by the growing incidence of lifestyle disorders like diabetes and obesity. The World Health Organization (WHO) reports that since 1975, the prevalence of obesity has tripled worldwide. Probiotics and other products that enhance immunity are becoming more and more popular as a result of the rise in lifestyle-related health problems. Businesses are now in a better position to inform customers about the health advantages of these items thanks to the increasing integration of technology. Over the course of the forecast period, these initiatives are anticipated to further push the expansion of the worldwide probiotic bacteria market.
REGIONAL INSIGHTS
Asia-Pacific to Remain at the Forefront; Increasing Consumption of Fermented Drinks to Aid Growth
The global market for probiotic bacteria is anticipated to develop at the highest rate and be led by the Asia-Pacific region. The region's historically well-balanced diets and rising intake of fermented foods, which promote gut health, are major contributors to this supremacy.
The probiotic market in North America is anticipated to develop significantly over the course of the forecast period, reaching a market value of USD 8.30 billion in 2019. The increasing incidence of lifestyle-related illnesses and the existence of well-known firms committed to creating cutting-edge products in the area between 2020 and 2032 are some of the factors driving this rise.
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COMPETITIVE LANDSCAPE
Major Companies Focus on Introducing Innovative Products to Strengthen Their Market Positions
There are a number of well-known businesses in the probiotics sector that are active in various parts of the world. These companies are always launching new probiotic products to satisfy growing consumer demand and increase their market share in order to hold onto their market share. It is anticipated that major corporations will propel future market expansion through the implementation of tactics such as partnerships, mergers, and acquisitions that are intended to broaden their distribution networks. These initiatives will support continued industry growth and help them become more visible.
