Burlingame, Dec. 11, 2023 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, The global medical probiotics market was valued at US$ 40.50 Billion in 2023 and is forecast to reach a value of US$ 62.25 Billion by 2030 at a CAGR of 6.3% between 2023 and 2030. The medical probiotics market is driven by various factors. Firstly, there is a growing awareness among consumers about the importance of maintaining gut health. Medical probiotics offer a natural and effective solution to improve digestive health and boost the immune system. This has resulted in an increased demand for medical probiotics products.
Secondly, the increasing prevalence of gastrointestinal disorders, such as irritable bowel syndrome, inflammatory bowel disease, and lactose intolerance, has led to a rise in the adoption of medical probiotics. These conditions can be managed effectively by incorporating probiotics into the diet, which promote the growth of beneficial bacteria in the gut.
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Market Trends:
One of the key trends in the medical probiotics market is the growing popularity of probiotics in functional foods and dietary supplements. Manufacturers are incorporating medical probiotics into various food and beverage products, such as yogurt, drinks, and snacks. This allows consumers to conveniently consume probiotics as part of their daily diet.
Another trend in the market is the increasing focus on product innovation and research and development. Market players are investing in developing new strains of probiotics that target specific health conditions. For instance, probiotics that are specifically formulated to support women's health or improve mental health are gaining traction in the market.
In conclusion, the medical probiotics market is witnessing high growth due to factors such as rising consumer awareness about gut health and the increasing prevalence of gastrointestinal disorders. The market is also characterized by the growing popularity of probiotics in functional foods and dietary supplements, as well as a focus on product innovation and research and development.
Market Opportunities:
Growing demand for probiotic food and beverages:
The medical probiotics market is anticipated to witness significant growth due to the increasing demand for probiotic food and beverages. Probiotics are live bacteria that provide numerous health benefits, particularly to the digestive system. The consumption of probiotics through food and beverages has gained popularity as a convenient way to improve gut health and boost the immune system.
Probiotic food and beverages are increasingly being incorporated into daily diets, as they help maintain a healthy balance of bacteria in the gut. Moreover, they aid in the prevention and treatment of various gastrointestinal disorders, such as irritable bowel syndrome, diarrhea, and constipation. The rising awareness and preference for organic and natural products among consumers are also fueling the demand for probiotic food and beverages, further driving the growth of the medical probiotics market.
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Increasing availability of probiotics in various distribution channels
The medical probiotics market is witnessing a surge in the availability of probiotic products across various distribution channels. While hypermarkets and supermarkets dominate the distribution of probiotics, they are also increasingly being sold in pharmacies/drugstores, specialty stores, and online platforms.
The wide availability of probiotics in hypermarkets and supermarkets is attributed to the convenience and ease of access they provide to consumers. These retail channels offer a diverse range of probiotic products, allowing customers to choose from various brands and formulations. Furthermore, pharmacies/drugstores and specialty stores are gaining traction as distribution channels for medical probiotics, as they provide expert guidance and cater specifically to consumers seeking health-related products.
Online sales of probiotic products have witnessed a significant boost in recent years, primarily driven by the increasing popularity of e-commerce platforms. Online platforms offer a wide range of probiotic products that can be conveniently delivered to the consumer's doorstep. This trend is expected to further expand the reach of medical probiotics, creating lucrative opportunities for market players.
Key Market Takeaways: Medical Probiotics Market
The medical probiotics market is anticipated to witness a CAGR of 6.3% during the forecast period 2023-2030, owing to the growing awareness about the benefits of probiotics for digestive health and immunity.
On the basis of ingredient type, the bacteria segment is expected to hold a dominant position. Bacteria-based probiotics are widely used and preferred due to their effectiveness in improving gut health. Probiotic food and beverages are expected to dominate the market within this segment, owing to their convenience and increasing demand for functional foods.
In terms of distribution channels, hypermarkets and supermarkets are expected to hold a dominant position over the forecast period. These retail channels offer a wide range of probiotic products, providing consumers with ample options to choose from. However, pharmacies/drugstores, specialty stores, and online sales are expected to witness significant growth, driven by the increasing availability and convenience they offer to consumers.
North America is expected to hold a dominant position in the medical probiotics market, given the high consumer awareness and demand for probiotic products in the region. The presence of key market players and advancements in healthcare infrastructure further contribute to the market's growth in North America.
Key players operating in the medical probiotics market include Probi AB, Abbott, Lonza, Chr. Hansen Holding A/S, Danone S.A., Yakult Honsha Co., Ltd., Nestle S.A., DowDuPont Inc., Kerry Group plc., BioGaia AB, DSM, Sun Genomics, Evonik, Probiotics International Limited (Protexin), and UAS Laboratories LLC. These players focus on product innovation, strategic partnerships, and geographical expansion to strengthen their market position and cater to the growing demand for medical probiotics.
Read complete market research report," Medical Probiotics Market, By Ingredient Type, By Distribution Channel, By Region, and Segment Forecast 2023-2030", Published by Coherent Market Insights.
Recent development:
In May 2023, TruBiotics, a PanTheryx’s probiotics supplement firm launched two new supplements for women’s health.
In September 2020, Lonza introduced TWK10, a novel strain of lactobacillus plantarum that were extracted from naturally fermented kimchi, as an ingredients in their probiotics for sports nutrition.
In conclusion, the medical probiotics market presents lucrative market opportunities driven by the growing demand for probiotic food and beverages and the increasing availability of probiotics through various distribution channels. Market players should capitalize on these opportunities by offering innovative products and expanding their presence in key regions.
Medical Probiotics Market Segmentation:
- By Ingredient Type
- Bacteria
- Lactobacilli
- Bifidobacterium
- Streptococcus
- Bacillus
- Yeast
- Spore Formers
- Others
- By Application
- Probiotic Food & Beverages
- Dairy Products
- Non-dairy Beverages
- Cereals
- Baked Goods
- Fermented Meat Products
- Probiotic Dietary Supplements
- Probiotics for Women's Health
- Infant Formula
- Others
- By Distribution Channel
- Hypermarkets/Supermarkets
- Pharmacies/Drugstores
- Specialty Stores
- Online Sales
- By Region
- North America
- U.S.
- Canada
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Europe
- Germany
- U.K.
- Spain
- France
- Italy
- Russia
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- GCC Countries
- Rest of Middle East & Africa
- North America
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