Global Probiotics Market: Projected Worth of $85.4 Billion

Chicago, June 05, 2023 (GLOBE NEWSWIRE) -- Probiotics are living microorganisms that offer unique health benefits to consumers, particularly in supporting gut health and aiding digestion. Natural sources of probiotics include yoghurt, which is known for its probiotic content. The market for probiotic products is driven by factors such as the increasing number of health-conscious consumers, growing awareness about probiotics, an aging population, and a rise in gut-related ailments. Additionally, the demand for probiotics in animal feed is influenced by the global meat consumption patterns.

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Key Industry Development:

One of the key industry developments in the probiotics market is the increased focus on scientific research and clinical studies. There has been a growing body of evidence supporting the health benefits of probiotics, and companies in the industry are investing in research to better understand the mechanisms of action, identify new strains with specific benefits, and validate the efficacy of probiotic products. This emphasis on research and scientific evidence helps build consumer trust and confidence in probiotics.

Report Scope & Segmentation:

Report Metrics	Details
Forecast Period	2022-2027
Forecast Period 2022-2027 CAGR	8.1%
2027 Value Projection	US$85.4 billion
Segments covered	Ingredient, Product Type, End User, Distribution Channel & Region
Regions covered	North America, Europe, Asia Pacific, Latin America, Middle East & Africa

Key Takeaways:

Increasing consumer awareness and demand for probiotic products
Growing focus on gut health and digestive wellness
Expansion of probiotics into new applications beyond traditional supplements, such as functional foods and beverages
Rising popularity of personalized nutrition and customized probiotic formulations
Adoption of advanced technologies for strain identification, production, and quality control
Emphasis on sustainable and eco-friendly production practices in the probiotics industry
Expansion of the probiotics market in emerging economies
Integration of probiotics in animal feed for improved animal health and productivity
Collaboration between probiotic manufacturers and healthcare professionals to promote probiotics as part of preventive healthcare.
Introduction of novel probiotic strains with specific health benefits
Increasing use of probiotics in sports nutrition and fitness products for enhanced performance and recovery.

Drivers and Opportunities:

Drivers: Involvement of International Organizations in Probiotic R&D

The participation of international bodies, including the World Health Organization (WHO), the International Probiotics Association (IPA), and the International Scientific Association for Probiotics and Prebiotics, has significantly contributed to the recognition of probiotics' health benefits worldwide. These organizations play a crucial role in raising awareness about probiotics and establishing regulations and investment policies to drive research and development in the probiotics market.

Opportunities: EU Ban on Antibiotic Growth Promoters in Animal Feed

The European Union (EU) implemented a ban on the use of antibiotic growth promoters (AGPs) in animal feed in 2006. AGPs are chemicals or drugs added to feed to promote animal growth, but their usage has led to the development of antibiotic-resistant bacteria, posing risks to human and animal health. The EU's ban, supported by the Food and Agriculture Organization (FAO), has created significant investment opportunities for probiotic manufacturers. Feed producers are actively seeking alternative solutions, including probiotics, to enhance product quality while complying with the antibiotic restrictions. This presents a favorable market environment for probiotic industry growth.

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Segments:

The online distribution channel segment is expected to achieve the highest compound annual growth rate (CAGR) of 9.2%.

Online shopping has gained significant popularity as a marketing and distribution channel in recent years. It is projected to gain increasing consumer interest in the coming years. Factors such as value for the price, convenience, and the impact of the Covid-19 pandemic have contributed to its growth. In developing countries like China, India, and Indonesia, online shopping is expected to become more popular due to busy lifestyles and time-saving benefits. Investments from internet giants Alibaba Group Holding Limited (China) and Amazon.com, Inc. (US) have further strengthened the online grocery sector. Probiotic products, including yogurt, juices, dietary supplements, and bars, are expected to be delivered through online channels. Online purchasing also provides consumers with detailed product information, allowing them to choose probiotics with specific health benefits. With increasing urbanization and lifestyle changes, online buying is projected to be the fastest-growing distribution channel in the probiotics market during the forecast period.

By ingredient, yeast is the fastest-growing segment in the probiotics market during the forecast period.

Yeast, as a probiotic, is widely used in various applications, including food, beverages, pharmaceuticals, and industrial enzymes. The growing interest in fermented foods and beverages with potential health benefits has contributed to the rise of yeast probiotics. Probiotic yeast can serve as an alternative to antibiotics as growth promoters, reducing the incidence of Salmonella and antibiotic resistance in animals. The demand for fermented food is also increasing. These factors collectively contribute to the rapid growth of the yeast segment in the probiotics market during the forecast period.

By end user, the human segment dominates the probiotics market during the forecast period.

Developing economies in the Asia Pacific region, such as China, India, and South Korea, are experiencing a shift towards urbanization, leading to an explicit increase in the demand for convenient food products. This trend has propelled the growth of probiotic products like yogurt. The rising health consciousness and consumption of functional food and beverages further contribute to the dominance of the human segment in the probiotics market during the forecast period.

List of Key Players Mentioned in the Report: