New York, United States, Jan. 09, 2024 (GLOBE NEWSWIRE) -- Probiotics are microbes, including bacteria and yeast, that support intestinal flora's health in humans and animals. Probiotics, which can be consumed orally or as supplements, support the body's digestive enzymes and juices to ensure proper digestion. Products containing probiotics are now used to identify and treat neurological disorders, digestive problems, and mental illnesses.
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Improved Probiotics Demand from the Animal Food Industry Drives the Global Market
Livestock products are important sources of essential micronutrients and high-quality protein. Historically, antibiotics have been administered to animals as remedial care to aid them in battling microbial infections, improving productivity and profitability. However, the main worries are its adverse effects on the entire food chain. The EU has banned antibiotics as growth promoters in the animal feed industry. As a result, farmers and breeders are searching for alternatives that will improve the efficiency and output of their animals while reducing their adverse environmental effects and maintaining their profit margins. In animals like poultry, swine, aquaculture, ruminants, and others, animal feed probiotics help maintain the intestinal tract's microbial flora and improve resistance to pathogens. As a result, probiotics are now widely recognized in the feed industry as an adequate substitute for antibiotics for the welfare of animals.
Growing Popularity in Developed Economies Creates Tremendous Opportunities
According to Straits Research, “The Total Addressable Market (TAM) for Probiotics was valued at USD 58.77 billion in 2021. It is expected to reach USD 110.81 billion by 2030, growing at a CAGR of 7.3% during the forecast period (2022–2030).” The global probiotics market is expanding due to changing consumer attitudes toward probiotic consumption, which has increased the demand for probiotics in developed economies. As consumers understand the importance of probiotics in preserving a healthy gut and immune system increases, the market for probiotics components has continued to expand. Consumer awareness of the health advantages associated with the consumption of probiotics products over the years has been the main driver of the public demand for probiotics in developed economies.
Regional Analysis
Asia-Pacific probiotics market share is expected to grow at a CAGR of 7.6% during the forecast period. Buyers in this region are becoming increasingly interested in health products as fitness and maintaining good digestive health become more popular. Rising disposable incomes, an improving standard of living, and a growing acceptance of functional foods are the main factors propelling the probiotics market's expansion. Manufacturers' production of conventional probiotic products in the shapes of capsules, tablets, and sachets is anticipated to aid in the market's growth.
Europe is expected to grow at a CAGR of 6.9%, during the forecast period. The primary forces driving market expansion include rising disposable incomes, fitness fads, and concerns about probiotics being added to animal feed to improve animal health. Also, the inability to make a health claim on the label posed a severe obstacle to market growth at first. However, Denmark, the Netherlands, and Poland have recently published new labeling guidelines for the use of the term "probiotic" on the labels of dietary supplements. This helped consumers make informed choices and boost their confidence in using probiotics, which are expected to spur market expansion in the Europe market.
Key Highlights
- Based on the product, the global probiotics market is bifurcated into probiotic food and beverages, probiotic dietary supplements, and animal feed probiotics. The probiotic food and beverages segment is the highest contributor to the market and is expected to grow at a CAGR of 7.2% during the forecast period.
- Based on ingredients, the global probiotics market is bifurcated bacteria and yeast. The bacteria segment owns the highest market share and is expected to grow at a CAGR of 7.4% during the forecast period.
- Based on end-user, the global probiotics market is bifurcated into human probiotics and animal probiotics. The human probiotics segment is the highest contributor to the market and is expected to grow at a CAGR of 7.2% during the forecast period.
- Based on distribution, the global probiotics market is bifurcated into hypermarkets/supermarkets, pharmacies/drug stores, specialty stores, and online stores. The hypermarkets/supermarkets segment owns the highest market share and is expected to grow at a CAGR of 6.6% during the forecast period.
- Asia-Pacific is the most significant shareholder in the global probiotics market and is expected to grow at a CAGR of 7.6% during the forecast period.
Competitive Players
The global probiotics market’s major key players are Arla Foods, Inc., BioGaia AB, Chr. Hansen Holding A/S, Danone, Danisco A/S, General Mills Inc., i-Health Inc., Lallemand Inc., Lifeway Foods, Inc., Mother Dairy Fruit & Vegetable Pvt. Ltd, Kerry, Nestle S.A, Probi, and Yakult Honsha Co. Ltd.
Market News
- In September 2022, A product with live bacteria that supports the skin microbiome and can naturally improve skin health was created in partnership with BioGaia and Skinome.
- In October 2022, Kerry Group, the world’s top taste and nutrition company, and the Irish charity Concern Worldwide recently announced a four-year partnership to improve the lives of 46,000 people in Kenya by giving them access to climate-smart agricultural methods.
Global Probiotics Market: Segmentation
By Product
- Probiotic Food and Beverages,
- Probiotic Dietary Supplements
- Animal Feed Probiotics
By Ingredients
- Bacteria
- Yeast
By End-User
- Human Probiotics
- Animal Probiotics
By Distribution
- Hypermarkets/Supermarkets
- Pharmacies/Drug stores
- Specialty Stores
- Online Stores
By Regions
- North America
- Europe
- Asia-Pacific
- Central and South America
- The Middle East and Africa
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