Dublin, Feb. 09, 2024 (GLOBE NEWSWIRE) -- The "Global Probiotics Market - Focused Insights 2024-2029" report has been added to ResearchAndMarkets.com's offering.
The global probiotics market is expected to reach $115.07 billion by 2029, growing at a CAGR of 8.39%
The growing awareness about the health benefits of probiotics, such as improved gut health and overall digestive function, and increased consumption of functional dairy products is anticipated to boost the growth of the global market.
This report offers market size & forecast data for the global probiotics market. The revenue generated from the sale of human probiotic products is included in the report. The income generated from animal probiotics, plant probiotics, and probiotic strains is excluded from the report's scope. This report provides a comprehensive and current market scenario of the global probiotic market, including the global probiotic market size, anticipated market forecast, relevant market segmentations, and industry trends.
The study considers a detailed scenario of the present global probiotics market and its market dynamics for 2024-2029. It covers a detailed overview of several market growth enablers, restraints, and trends. The report offers both the demand and supply aspects of the market. It profiles and examines leading companies and other prominent players operating in the market.
KEY HIGHLIGHTS
- By product type, functional food and beverages accounted for the highest share of 83.06% in 2023 and are projected to grow at the highest CAGR of 8.62% during the forecast period. The increasing demand for functional food and beverages is due to the rising awareness of the health benefits of dairy-based probiotics and the increased consumption of functional dairy products for digestive wellness.
- By Ingredient type, the bacteria segment accounted for the highest share of 88.07% in 2023 and is projected to grow at the highest CAGR of 8.57% during the forecast period. Factors such as the high usage of bacteria and broader applications of bacteria in digestive wellness are expected to drive the growth of this segment.
- By age group, the adult segment accounted for the highest share of 75.31% in 2023 and is projected to grow at the highest CAGR of 8.23% during the forecast period. The rising prevalence of chronic diseases, increased penetration of probiotics, and rising awareness of health benefits in adults are some factors that drive the segment's growth.
- By Distribution Channel, the supermarkets and hypermarkets segment accounted for the highest share of 43.60% in 2023 and is projected to grow at the highest CAGR of 8.12% during the forecast period. The expansion of supermarkets and hypermarkets is the primary reason for the increasing demand for probiotics globally.
- By Application, the digestive health segment accounted for the highest share of 76.52% in 2023 and is projected to grow at the highest CAGR of 8.21% during the forecast period. The high prevalence of digestive diseases is the primary reason for the increasing demand for probiotics globally.
- Nestle, Probi, Danone, Chr.Hansen and Yakult Honsha Co., Ltd are some of the leading players currently dominating the global probiotics market. The major players focus on strategic acquisitions and collaborations with emerging players to enter the probiotics market and gain access to commercially launched products.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 137 |
| Forecast Period | 2023 - 2029 |
| Estimated Market Value (USD) in 2023 | $70.95 Billion |
| Forecasted Market Value (USD) by 2029 | $115.07 Billion |
| Compound Annual Growth Rate | 8.3% |
| Regions Covered | Global |
VENDORS LIST
- Nestle
- Probi
- Danone A/S
- Chr.Hansen Holdings Inc
- Yakult Honsha Co.,Ltd.
- Arla Foods
- International Flavours & Fragrances Inc.
- ADM
- General Mills Inc
- BioGaia
- AB-Biotics
- DuPont
- Lallemand Inc (Lallemand)
- Lifeway Foods Inc
- Kerry Group plc
- Sanzyme Biologics
- Mother Dairy Fruit & Vegetable Pvt Ltd (Mother Dairy)
- Deerland Probiotics & Enzymes
- Sacco System
- Cultech
- Goerlich Pharma
- Winclove Probiotics
- China-Biotics Inc.
- COSMAX NBT, Inc.
- PepsiCo
- Morinaga Milk Industry Co., Ltd
- AllergoSan USA, LLC
- Teva Pharmaceuticals
- Novozymes
- Wren Laboratories
- PanTheryx
- DSM-Firmenich
- Sanofi
REPORT HIGHLIGHTS
PRODUCT SEGMENTATION & FORECAST
- Product type
- Functional Food & Beverages
- Dietary Supplements
- Ingredients type
- Bacteria
- Yeast
- Age Group
- Adults
- Pediatrics
- Distribution Channels
- Supermarkets & Hypermarkets
- Departmental Stores
- Drug Stores
- Online Stores
- Application
- Digestive Health
- Immune Health
- Metabolic Health
- Others
MARKET STRUCTURE
- Market Dynamics
- Competitive Landscape of Probiotics Market
- Key Vendors
- Other Prominent Vendors
For more information about this report visit https://www.researchandmarkets.com/r/6i6rqx
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