Westford, USA, July 19, 2024 (GLOBE NEWSWIRE) -- SkyQuest projects that the Probiotics Market will attain a value of USD 119.88 billion by 2031, with a CAGR of 7.5% over the forecast period (2024-2031). Growing health consciousness and rising awareness regarding the benefits of probiotics consumption are projected to bolster market growth. The development of personalized probiotics is forecasted to create a new business scope for all probiotics providers in the long run. Rising investments in probiotics research and development of novel probiotics products is also estimated to bolster market development going forward.
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Probiotics Market Overview:
| Report Coverage | Details |
| Market Revenue in 2023 | $ 67.22 Billion |
| Estimated Value by 2031 | $ 119.88 Billion |
| Growth Rate | Poised to grow at a CAGR of 7.5% |
| Forecast Period | 2024–2031 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Product Type, Ingredient, End-use, Distribution Channel, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, Middle East & Africa, Latin America |
| Report Highlights | Updated financial information / product portfolio of players |
| Key Market Opportunities | Rising consumption of nutraceuticals and dietary supplements |
| Key Market Drivers | Growing awareness regarding health benefits of probiotics consumption |
Easy Access to Beneficial Bacteria Helps Functional Foods and Beverages to Lead Probiotics Demand
Functional foods and beverages are gaining immense popularity owing to their high nutrition and health benefits. Most functional food providers are focusing on incorporating probiotics in their offerings to make them more functional and beneficial for consumers. The growing popularity of functional food and beverages such as kefir, Greek yogurt, and kombucha will help this segment maintain its dominance.
Yeast-based Probiotics are Projected to Gain Massive Popularity for their Ability to Improve Gut Health
Yeast-based bacteria play a vital role in maintaining proper gut health and keeping the gut microbiome healthy. Growing awareness regarding the benefits of yeast probiotics to treat gastric disorders, diarrhea, and intestinal infestations are also projected to help this segment emerge as the fastest growing one going forward.
Active Incorporation of Probiotics by Asian Populations in Japan and China Help Asia-Pacific Lead Probiotics Demand
Japan, South Korea, and China are the top countries where people have been incorporating probiotics into their diets for centuries. Growing disposable income of people in multiple Asian countries and rising awareness regarding the benefits of probiotics will also help this region maintain its dominance. India is also estimated to be a highly attractive market for probiotics companies in this region.
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Probiotics Market Insights:
Drivers
- High emphasis on improving health
- Increasing awareness regarding the benefits of probiotics
- Rising use of probiotics in different foods and beverages
Restraints
- Lack of standardization affecting quality
- Highly fragmented nature of the global probiotics market
Prominent Players in Probiotics Market
The following are the Top Probiotics Companies
- Danone S.A.
- Nestlé S.A.
- Yakult Honsha Co. Ltd.
- Chr. Hansen Holding A/S
- Probi AB
- Kerry Group plc
- Lallemand Inc.
- BioGaia AB
- DuPont de Nemours Inc.
- Sabinsa Corporation
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Key Questions Answered in Probiotics Market Report
- What drives the global probiotics market growth?
- Who are the leading probiotics providers in the world?
- Which region leads the demand for probiotics in the world?
This report provides the following insights:
- Analysis of key drivers (growing health consciousness among people around the world, rising availability of functional foods and beverages, increase in awareness of probiotics benefits), restraints (highly fragmented nature of probiotics market, lack of standardization), and opportunities (increasing disposable income, high sales of nutraceuticals and dietary supplements), influencing the growth of Probiotics market.
- Market Penetration: All-inclusive analysis of product portfolio of different market players and status of new product launches.
- Product Development/Innovation: Elaborate assessment of R&D activities, new product development, and upcoming trends of the Probiotics market.
- Market Development: Detailed analysis of potential regions where the market has potential to grow.
- Market Diversification: Comprehensive assessment of new product launches, recent developments, and emerging regional markets.
- Competitive Landscape: Detailed analysis of growth strategies, revenue analysis, and product innovation by new and established market players.
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SkyQuest Technology is leading growth consulting firm providing market intelligence, commercialization and technology services. It has 450+ happy clients globally.
We work closely with innovators, inventors, innovation seekers, entrepreneurs, companies and investors alike in leveraging external sources of R&D. Moreover, we help them in optimizing the economic potential of their intellectual assets. Our experiences with innovation management and commercialization has expanded our reach across North America, Europe, ASEAN and Asia Pacific.
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