Dublin, Aug. 12, 2024 (GLOBE NEWSWIRE) -- The "Probiotics - Global Strategic Business Report" has been added to ResearchAndMarkets.com's offering.
The global market for Probiotics is estimated at US$63.2 Billion in 2023 and is projected to reach US$91.7 Billion by 2030, growing at a CAGR of 5.5% from 2023 to 2030.
The growth in the probiotics market is driven by several factors, including rising health consciousness among consumers, advancements in functional food technologies, and an increasing body of research supporting the health benefits of probiotics. The expanding elderly population, which is more prone to gastrointestinal ailments, also significantly contributes to this demand. Furthermore, the growing fitness and wellness trend globally encourages individuals to adopt healthier diets enriched with functional foods that include probiotics.
Manufacturers are responding by expanding their product ranges to include probiotic-infused goods, such as cereals, snack bars, and even ice cream, making it easier for consumers to incorporate beneficial bacteria into their daily routines. Additionally, improvements in product formulation that increase the viability of bacteria strains in shelf-stable products are helping drive sales in non-refrigerated segments.
The global expansion of distribution channels, particularly online platforms where consumers seek out premium health-oriented products, also plays a crucial role. Together, these factors ensure robust growth and continual innovation within the probiotics market, as it becomes increasingly integrated into the preventative health movement.
Key Insights:
- Market Growth: Understand the significant growth trajectory of the Bacteria-based Probiotics segment, which is expected to reach US$70.8 Billion by 2030 with a CAGR of a 5.1%. The Yeast-based Probiotics segment is also set to grow at 6.7% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, estimated at $17.0 Billion in 2023, and China, forecasted to grow at an impressive 9% CAGR to reach $20.1 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Select Competitors Featured:
- BioGaia AB
- Bright Food (Group) Co., Ltd.
- China-Biotics Inc.
- Chobani, LLC
- Chr. Hansen Holding A/S
- DuPont Nutrition & Health
- Garden of Life LLC
- General Mills
- Groupe Danone SA
- Gujarat Cooperative Milk Marketing Federation (AMUL)
- Hangzhou Wahaha Group
- Kirkman Group
- Meiji Holdings Co., Ltd.
- Natren, Inc.
- Nestle S.A.
- Probi AB
- Renew Life
- Seven Seas Ltd.
- Valio Ltd.
- Yakult Honsha Co., Ltd.
Market Trends & Drivers
- Rising Awareness of Gut Health Strengthens the Business Case for Probiotics
- Innovation in Probiotic Strains Expands Market Opportunities
- Growth in Functional Foods Spurs Demand for Probiotic Ingredients
- Dietary Trends Toward Natural and Organic Products Propel Probiotic Sales
- Consumer Preferences for Non-Dairy Probiotic Options Drive Product Innovation
- Global Aging Population Bolsters Demand for Digestive Health Solutions
- Technological Advancements in Microencapsulation Enhance Probiotic Efficacy
- E-commerce Growth Accelerates Access and Distribution of Probiotic Products
- Increasing Use of Probiotics in Animal Feed Promotes Market Growth
- Veganism and Plant-based Diets Create Opportunities for Probiotic Innovation
- Integration of Probiotics into Beauty and Skin Care Products Throws the Spotlight On Cosmeceuticals
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 283 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $63.2 Billion |
| Forecasted Market Value (USD) by 2030 | $91.7 Billion |
| Compound Annual Growth Rate | 5.5% |
| Regions Covered | Global |
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players such as BioGaia AB, Bright Food (Group) Co., Ltd., China-Biotics Inc., and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Key Questions Answered:
- How is the Global Probiotics Market expected to evolve by 2030?
- What are the main drivers and restraints affecting the market?
- Which market segments will grow the most over the forecast period?
- How will market shares for different regions and segments change by 2030?
- Who are the leading players in the market, and what are their prospects?
For more information about this report visit https://www.researchandmarkets.com/r/vre26r
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