Global Probiotics Market Size, Trends & Growth Opportunity by Product (Food & Beverages, Dietary Supplements), By Ingredient (Bacteria, Yeast), By End Use (Human probiotics, Animal Probiotics), By Distribution Channel (Hypermarkets, Pharmacies, Specialty Stores, Online Stores), Region and Forecast till 2027>
Global Probiotics Market
The Global Probiotic Market was valued at USD 60280 Million in 2021 which is anticipated to reach USD 94480 Million by 2027 at a CAGR 6.17%.
Probiotics are referred as the live bacteria and yeasts that are similar to beneficial microorganisms found in the human gut that are taken as dietary supplements. The rise in awareness regarding preventive healthcare is anticipated to benefit the overall global probiotics market growth.
Market Drivers
The increase in demand for probiotics in various industries is expected to boost the global probiotics market growth during this forecast period. Furthermore, the rise in investments in research and development activities to develop efficient probiotic strains will positively influence the market growth. Also, the increase in demand for probiotic dietary supplements by consumers is expected to drive the global probiotic market growth over the forecast period. Moreover, the rise consumer awareness about value-added products will drive the market growth during this forecast timeline. In addition to that, continuous technological advancements will support the market growth.
Market Restraints
Stringent international quality standards and regulations for probiotic product is expected to hamper the global probiotics market growth. Also, high research and development costs for developing new probiotic strains will limit the global probiotic market growth.
Market Segmentation
The Global Probiotics Market is segmented into product such as Food & Beverages, Dietary Supplements, by ingredients such as Bacteria, and Yeast, by end use such as Human probiotics, and Animal Probiotics. Further, market is segmented into distribution channel such as Hypermarkets, Pharmacies, Specialty Stores, and Online Stores.
Also, global probiotics market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
Market Key Players
Some key players are discussed in this report such as Chr. Hansen, Danone, Yakult Honsha, Morinaga Milk Industry Co., Ltd, DowDuPont, Kerry, Probi AB, Nestle, Biogaia and Glac Biotech. Industry development
In September 2022, BioGaia, a biotechnology company, announced the collaborated with Skinome on the research and development of a product with live bacteria that can improve skin health in a natural way by supporting the skin microbiome.
In August 2022, BioGaia, a biotechnology company, developed probiotic products and expanding its product portfolio with new bacterial strains, developed together with the wholly-owned subsidiary MetaboGen (a research and development company).
In July 2022, BioGaia, a biotechnology company, launched probiotic product to support children’s respiratory health, which aims to strengthen the immune system and support children’s upper respiratory health.
Market Taxonomy
By Product
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