According to the report published by Allied Market Research, the global probiotics market was estimated at $34.1 billion in 2020 and is expected to hit $73.9 billion by 2030, registering a CAGR of 8.6% from 2021 to 2030. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and varying market trends.
Increasing health concerns, surge in consumption of functional foods, and growing investment in Research & Development drive the growth of the global probiotics market. On the other hand, several government regulations and low awareness level among consumers about effectiveness of probiotic products impede the growth to some extent. However, growing demand for probiotic products in the developing nations is expected to create lucrative opportunities in the industry.
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The outbreak of the pandemic led to a steep rise in demand for products that promote immune health, thereby impacting the global probiotics market positively.
This trend is quite likely to continue post pandemic as well.
The global probiotics market is analyzed across application, end use, function, ingredient, and geography.
By ingredients, the bacteria segment held the highest market share in 2020, holding more than two-thirds of the global market. The yeast segment, however, is projected to manifest the fastest CAGR of 8.9% from 2021 to 2030.
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By function, the preventative healthcare segment contributed to the major share in 2020, accounting for more than half of the global probiotics market, and is expected to lead the trail during the forecast period. The same segment is also anticipated to cite the fastest CAGR of 9.4% from 2021 to 2030.
By region, Asia-Pacific held the highest market share in terms of revenue 2020, garnering more than two-thirds of the global probiotics market. The same region is also expected to showcase the fastest CAGR of 9.0% throughout the forecast period. The other provinces discussed in the report include North America, Europe and LAMEA.
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The key market players analyzed in the global probiotics market report include Danone, Chr. Hansen Holding A/S, Probi AB, BioGaia AB, Nestle S.A., Ganeden, Inc., Lifeway Foods, Inc., E. I. du Pont de Nemours and Company, Protexin, and Yakult Honsha Co. Ltd. These market players have adhered to several strategies including partnership, expansion, collaboration, joint ventures, and others to prove their flair in the industry.
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.