Global Probiotics Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Probiotics Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Probiotics are microorganisms, such as bacteria and yeast that benefit humans and animals by maintaining intestinal microbial balance. Probiotic ingredients stimulate natural digestive juices and enzymes in the body to ensure proper functioning of the digestive system, and can be administered through food or in the form of supplements. In addition, probiotics protect healthy organisms from harmful counterparts. Nowadays, probiotic products are employed to diagnose mental illness, and treat digestive problems and neurological disorders. Moreover, they strengthen the human immune system, protect proteins & lipids from oxidative destruction, and reduce body pathogens.

Market Overview:

The latest research study on the global Probiotics market finds that the global Probiotics market reached a value of USD 55221.4 million in 2022. It’s expected that the market will achieve USD 81810.51 million by 2028, exhibiting a CAGR of 6.77% during the forecast period.

Increasing consumer adoption

Increasing consumer adoption of probiotics to enhance overall wellbeing and help treat illnesses such as ulcerative colitis, urinary tract infections and diarrhea should boost market demand from dietary supplements applications. At present, majority of people suffer from obesity problems, digestive problems, gastrointestinal infections, vaginal infection, and others. With this aspect in consideration, players operating in this market are in the process of developing probiotic products that help them to cure such types of diseases. The effect of growing health concern is moderate in the probiotics market, and its impact is expected to increase in the near future. Growing health concerns and rising awareness have augmented the demand for probiotics among consumers, thus resulting in the rise of probiotics dairy and food products. Consumers opt for probiotics dairy products such as yogurt, ice cream, and cheese to take in beneficial bacteria, in addition to available medical health supplements. Probiotic yogurt is the most common probiotic product preferred by consumers.

Stiff competition

With major manufacturers and suppliers in the probiotics industry competing globally, the intensity of competition within the probiotics industry has increased. The vendors adopt strategies like price premiums to stay competitive in the market. Meanwhile, the local vendors in developing nations are providing tough competition to the global players based on product pricing. The fierce competition is not conducive to the sustainable development of the industry. At the same time, small companies or small retailers enter the business consequently as venturing into a probiotics business does not require immense capital or investment. However, this leads to the proliferation of sub-standard or duplicate products which then hampers the competitive scenario in the market as established probiotics manufacturers are compelled to lower the price of their products, which ultimately impacts their profit margins and sales volumes. The fierce competition is not conducive to the sustainable development of the industry

Region Overview:

In global comparison, a significant portion of the revenue was generated in APAC (38.87% in 2021).

Company Overview:

Yakult is one of the major players operating in the Probiotics market, holding a share of 6.1% in 2021.

Yakult

Yakult is the world's leading probiotic beverage created in Japan in 1935. Today, Yakult is sold in 40 countries and regions around the world. Yakult 's portfolio includes a range of consumer, cosmetic and pharmaceutical products. Yakult's mission is to contribute to the health and happiness of every person around the world through the pursuit of excellence in life sciences and the study of microorganisms.

Danone

Dedicated to bringing health through food to as many people as possible, Danone is a leading global food & beverage company built on four businesses: Essential Dairy and Plant-Based Products, Waters, Early Life Nutrition and Medical Nutrition. Danone's portfolio includes brands present worldwide (Activia, Actimel, Alpro, Danette, Danonino, Danio, evian, Volvic, Nutrilon/Aptamil, Nutricia) and in local markets (Aqua, Bledina, Cow & Gate, Bonafont, Horizon Organic, Mizone, Oikos, Prostokvashino, Silk, Vega).

Segmentation Overview:

Among different product types, Lactobacillus segment is anticipated to contribute the largest market share in 2027.

By ingredient, the market can be broadly divided into two categories, namely, bacteria and yeast, etc. The bacteria can be further divided into lactobacilli, Bifidobacterium, streptococcus, and others, while yeast can be further classified intoSaccharomyces Boulardii and others. Most probiotics are predominantly bacterial, most notably employing lactobacillus or lactic acid bacteria. These ingredients primarily find application in fermented food such as kefir, sauerkraut, yogurt, and kimchi. Dietary supplements are another significant application segment for bacterial ingredients.

Numerous biological activities associated with yeast-based probiotic ingredients make them ideal for use in a range of applications beyond the food sector. Notwithstanding their contribution to fermented foods for flavor innovation, yeast-based ingredients help enhance the productivity and health in growing and lactating animals. Saccharomyces Boulardii is the most commonly used yeast type (ingredient) in the probiotics industry owing to its healing property to help withstand harsh pancreatic and bile juices and other stomach acids.

In addition, rising use of lactobacillus strain as an additive in yogurt and milk products to enhance digestibility and minimize the risk of blotting and acid reflux is a major trend in the market. Moreover, lactobacillus strain is also beneficial in enhancing the texture and flavor of yogurt since it offers a sweet taste. Hence, lactobacillus strain is gaining huge demand across milk and yogurt products, thereby augmenting the market growth of probiotics.

Application Overview:

The market's largest segment by application is the segment Food and Beverage, with a market share of 78.25% in 2021.

Based on product, the market is segmented into three categories, namely, food & beverages, dietary supplements, and animal feed, etc. The food and beverage are further categorized into dairy, non-dairy, cereals, baked food, fermented meat, and dry food probiotics. The dietary supplement is further divided into food supplements, nutritional supplements, specialty nutrients, and infant formula.

Probiotics are incorporated to increase overall nutritive value as well as the flavor of the baked goods. Probiotic muffins and nutritive bars, among others, have been introduced in the market. The consumption of these probiotic-infused baked products has witnessed an increase in recent years on account of rising inclination toward preventive healthcare. Probiotic dietary supplements have become more popular among consumers seeking natural solutions to various health ailments. Probiotics, as opposed to pharmacological solutions, are a natural way of treating a variety of illnesses related to gut health, gastrointestinal conditions, and immunity strengthening. The development of novel delivery systems such as gummies, fizzy powders, as well as chewable products is expected to further boost the growth.

Key Companies in the global Probiotics market covered in Chapter 3:

Glac Biotech
Danone
Align Probiotics
Culturelle
Nestle
DuPont(Danisco)
Probiotical
H&H Group
Renew Life
Linex(Sandoz)
Enterogermina(Sanofi)
Nature's Bounty
BioCC
Novozymes
Probi
Physician's Choice
Morinaga Milk Industry
BioGaia
Valio
Chr. Hansen
Sabinsa
Yakult

In Chapter 4 and Chapter 14.2, on the basis of types, the Probiotics market from 2018 to 2029 is primarily split into:

Bifidobacterium
Lactobacillus

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Probiotics market from 2018 to 2029 covers:

Food & Beverages
Dietary Supplements
Animal Feed
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)