Dublin, May 10, 2024 (GLOBE NEWSWIRE) -- The "Global Probiotics Market by Product Type (Functional Food & Beverages (FnB), Dietary Supplements, and Feed), Ingredient (Bacteria and Yeast), End User (Human and Animal), Distribution Channel and Region - Forecast to 2029" report has been added to ResearchAndMarkets.com's offering.
According to the report, the Probiotics market is projected to reach USD 105.7 billion by 2029 from USD 71.2 billion by 2024, at a CAGR of 8.2%
The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall probiotics market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
Dietary supplements present consumers with a straightforward and hassle-free means to integrate probiotics into their daily regimen. With formats ranging from tablets to capsules and chewable, these supplements require no preparation and can be easily stored at room temperature, catering to the demands of modern, fast-paced lifestyles. This convenience factor resonates strongly with busy individuals seeking an effortless solution to bolster gut health, thereby driving sustained demand for dietary probiotic supplements.
Moreover, the appeal of dietary supplements extends beyond convenience to encompass precise dosing capabilities, allowing consumers to tailor their probiotic intake to address specific health concerns. Through targeted formulations containing distinct probiotic strains, consumers can effectively manage digestive health, support immune function, and even promote mental well-being. The realm of dietary supplements further thrives on innovation, with personalized formulations combining probiotics with complementary ingredients such as prebiotics or vitamins gaining traction.
Additionally, emerging advancements such as chewable tablets and timed-release capsules enhance consumer choice and efficacy, positioning dietary supplements as a cornerstone of proactive health management within the evolving probiotics market landscape.
By distribution channel, Online is estimated to grow with the highest CAGR during the forecast period.
Online channels are poised to experience significant growth in the distribution of probiotics, outpacing traditional brick-and-mortar outlets. According to data from the U.S. Food and Drug Administration (FDA) released in October 2022, online sales of dietary supplements, including probiotics, have witnessed a substantial surge, particularly among younger demographics. This trend is propelled by several factors, including the unparalleled convenience offered by online retailers, allowing consumers to browse and purchase probiotics from the comfort of their homes at any time, thus eliminating the need for physical store visits.
Moreover, e-commerce platforms boast a wider product selection compared to traditional stores, offering diverse probiotic brands, formulations, and international options, catering to varied consumer preferences. This shift towards online channels is further reinforced by government initiatives such as India's Digital India program, which aims to facilitate safe and secure online transactions for health and wellness products, including probiotics.
Furthermore, subscription models and personalized recommendations offered by online retailers enhance consumer engagement and loyalty. Consumers can opt for subscription services for recurring probiotic deliveries, ensuring a steady supply of products. Advanced e-commerce platforms leverage user data to provide personalized recommendations tailored to individual needs and health goals
Europe will significantly contribute towards market growth during the forecast period.
Europe is positioned as a pivotal contributor to the burgeoning probiotics market throughout the forecasted period. Spearheaded by prominent industry leaders such as Probi (Sweden), Nestle (Switzerland), AB-Biotics, S.A. (Belgium), Danone (France), BioGaia (Sweden), and Adisseo (France) with headquarters and robust market presence in the region, Europe stands as a stronghold of innovation and consumer engagement.
For instance, in December 2023 Eurobarometer survey conducted by the European Commission highlighted a burgeoning understanding of the gut microbiome's pivotal role in overall well-being. This heightened awareness translates into a surging demand for diverse probiotic products, spanning from digestive health aids to immune-boosting supplements and solutions for mental well-being, thus fueling market expansion.
Moreover, Europe benefits from a supportive regulatory landscape established by the European Union (EU), mandating stringent scientific substantiation of health claims associated with probiotics. This regulatory rigor ensures a level of quality and transparency within the market, bolstering consumer confidence and fostering sustained market growth.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 342 |
| Forecast Period | 2024 - 2029 |
| Estimated Market Value (USD) in 2024 | $71.2 Billion |
| Forecasted Market Value (USD) by 2029 | $105.7 Billion |
| Compound Annual Growth Rate | 8.2% |
| Regions Covered | Global |
The report provides insights on the following pointers:
- Analysis of key drivers (Health benefits associated with probiotic-fortified foods), restraints (High R&D costs for developing new probiotic strains), opportunities (Replacement of pharmaceutical agents by probiotics), and challenges (Complexities in integrating probiotics in functional foods) influencing the growth of the Probiotics market.
- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the Probiotics market.
- Market Development: Comprehensive information about lucrative markets - the report analyses the Probiotics market across varied regions.
- Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the Probiotics market.
- Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players Probi (Sweden), Nestle (Switzerland), ADM (US), Danone (France), International Flavors & Fragrances Inc. (US), and Yakult Honsha Co., Ltd. (Japan), among others in the Probiotics market strategies. The report also helps stakeholders understand the Probiotics market and provides them with information on key market drivers, restraints, challenges, and opportunities.
Leading players profiled in this report:
- Probi (Sweden)
- Nestle (Switzerland)
- ADM (US)
- Danone (France)
- International Flavors & Fragrances Inc. (US)
- Yakult Honsha Co., Ltd. (Japan)
- BioGaia (Sweden)
- MORINAGA MILK INDUSTRY CO., LTD. (Japan)
- Meiji Holdings Co., Ltd. (Japan)
- Lifeway Foods, Inc. (US)
- Adisseo (France)
- Winclove Probiotics (US)
- AB-Biotics, S.A. (Belgium)
- Apsen Farmaceutica (Brazil)
- Lallemand (Canada)
- Elanco (US)
- NextFoods, Inc.(US)
- i-Health, Inc. (US)
- Suja Life LLC. (US)
- Renew Life Formulas LLC. (US)
- BIOHM Health (US)
- Sun Genomics (US)
- Unique Biotech Ltd (India)
- So Good So You (US)
- Protocol For Life Balance (US)
For more information about this report visit https://www.researchandmarkets.com/r/rt51ze
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