Probiotics Market Summary, Key Buying Criteria, Revenue Growth Prospects and PESTEL Analysis

Probiotics Industry Overview

The global probiotics market size is expected to reach USD 111.21 billion by 2030, according to a new study by Grand View Research, Inc. It is expected to expand at a CAGR of 7.5% from 2021 to 2030. The increasing prominence of preventive healthcare is among the major factors propelling the demand for probiotics across the globe. The considerable production and consumption of probiotics are complemented by innovations in probiotics by key players, most notably in countries such as China, Japan, and India.

Following the growing demand for probiotics, key market participants have been investing in R&D activities to develop efficient probiotic strains. The probiotics industry has also witnessed advancements in delivery systems to enhance the delivery of probiotics in humans and animals Such developments are expected to emerge as a trend in the industry over the forecast period. In developed countries such as the U.S., probiotics are sold mainly in the form of dietary supplements. The demand for probiotic nutritional supplements has been spurred by the growing aging population and increased consumer interest in preventive healthcare.

Probiotics Market Segmentation

Grand View Research has segmented the global probiotics market on the basis of product, ingredient, end-use, distribution channel, and region:

Based on the Product Insights, the market is segmented into Probiotic Food & Beverages, Probiotic Dietary Supplements, and Animal Feed Probiotics

• The probiotic food and beverages segment led the global market in 2021 with a revenue share of more than 75.0%.
• The food and beverages segment is 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.
• Probiotic dietary supplements have become more popular among consumers seeking natural solutions to various health ailments.

Based on the Ingredient Insights, the market is segmented into Bacteria and Yeast

• The bacteria segment led the global market in 2021 with a revenue share of more than 80.0%.
• The bacteria segment is further divided into lactobacilli, Bifidobacterium, streptococcus, and others, while yeast is classified into Saccharomyces Boulardii and others.
• Numerous biological activities associated with yeast-based probiotic ingredients make them ideal for use in a range of applications beyond the food sector.

Based on the End-use Insights, the market is segmented into Human Probiotics and Animal Probiotics

• The human probiotics segment led the global market in 2021 with a revenue share of more than 90.0%.
• Technological advancements with respect to human-grade probiotics have broadened the scope of the products fit for human consumption.
• Probiotics have also been receiving considerable attention from researchers with respect to animal nutrition over the past few years. This development is attributed to the increasing focus on alternatives for conventional growth promoters, such as antibiotics, to improve animal health.
• Moreover, bans on antibiotics in various countries favorably impacted the growth of the animal probiotics segment and are expected to create healthy growth prospects over the forecast period.

Based on the Distribution Channel Insights, the market is segmented into Hypermarkets/Supermarkets, Pharmacies/Drugstores, Specialty Stores ,Online Stores, and Others

• The hypermarkets/supermarkets segment led the global market in 2021 with a revenue share of more than 30.0%.The segment is expected to witness augmented growth over the forecast period.
• Consumers who buy probiotics in these retail channels are likely to be more selective in their approach owing to the availability of a range of probiotic products.
• A considerable rise in the number of pharmacies, fitness centers, and other related distribution channels has impacted the industry favorably over the years and is expected to do so during the forecast period.

Probiotics Regional Outlook

• North America
• Europe
• Asia Pacific
• Central & South America
• Middle East & Africa (MEA)

Key Companies Profile & Market Share Insights

The key players lead the market space with their global presence through well-established distribution channels. To withstand competition, these players focus on various business strategies like forming long-term supply agreements with various distribution channels. A key observation over the years is the increasing focus of key players to tap the South East Asian markets owing to the presence of a target consumer base in the region.

Some prominent players in the global Probiotics market include:

• Arla Foods, Inc.
• BioGaia AB
• Hansen Holding A/S
• Danone
• Danisco A/S
• General Mills Inc.
• i-Health Inc.
• Lallemand Inc.
• Lifeway Foods, Inc.
• Mother Dairy Fruit & Vegetable Pvt. Ltd.
• Kerry
• Nestle S.A.
• Probi
• Yakult Honsha Co., Ltd.

Order a free sample PDF of the Probiotics Market Intelligence Study, published by Grand View Research.