Press release
Probiotic Drinks Market Size, Share, Global Trends, Scope and Upcoming Opportunity Analysis till the end of 2024
Probiotic Drinks Market
The Global Probiotic Drinks Market is projected to register a significant growth rate of 8.44% from 2019 to 2024 and account for a market value of USD 45.3 billion by the end of 2024 Probiotic drinks contain living microorganisms, which, when taken in adequate amounts, have a beneficial effect on the body. Probiotic drinks are better alternative to conventional fermented beverages owing to health benefits associated with their consumption. These drinks are widely used in improving gut health. Probiotics has now become a part of functional foods and beverages which will help to improve overall body metabolism.
The global probiotic drinks market is anticipated to be driven by the increasing health awareness among the consumers. Also, the advancement in product development coupled with the technological improvements is the significant reasons for the increasing growth of probiotic drinks market during the forecast period. Additionally, increase in wellness sector awareness has enhanced the market growth trajectory of the sector to an elevated level.
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Furthermore, product promotions through various channels have added fuel to this segment. However, product intolerance is seen to possess high risk and is considered to be a major challenge to this market. Nevertheless, all these factors are projected to contribute to the estimated CAGR of 7.5% of probiotic drinks market during the forecast period 2017-2023.
Downstream analysis
Probiotic drinks are segmented based on type, which includes dairy based, fruit based and others. Among all, the dairy based probiotic drink holds the major market share owing to wide acceptance and adoptability.
Based on microbial species, the probiotic drinks market is segmented into grade bacteria, yeast and others. Among both, bacterial segment is dominating the market. Lactobacillus strain is mostly used in probiotic drinks.
Based on packaging, the probiotic drinks market is segmented into glass, plastics, metals, paper & paperboards, and others. Among all the packaging material, plastic material is dominating the market because of its toughness and ease in transportation.
Based on the distribution channel, the market is segmented into the store-based and non-store-based distribution channel. However, the store-based distribution channel is dominating the market based on the one-stop shopping experience.
Competitive analysis
The major players in probiotic drinks market
Bright Dairy & Food Co., Ltd. (China)
Bio-K Plus International Inc. (Canada)
Amul Industries Pvt Ltd. (India)
Nestle S.A. (Switzerland)
DANONE, SA (Spain)
Grupo Lala, S.A.B. de C.V. (Mexico)
KeVita, Inc. (U.S.)
Regional Analysis
The global probiotic drinks market is segmented into North America, Europe, Asia Pacific, and rest of the world (RoW). Asia Pacific is dominating the global probiotic drinks market. The foremost reason for this growth is changing lifestyle and improved disposable income in this region. Additionally, increased consumption of probiotic drinks associated with gut health support in developing counties like India, Brazil and China is expected to uplift the global probiotic drinks market over the review period.
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Furthermore, increasing health concerns in European countries due to poor eating habits has surged in the demand for healthy drinks in this region. Additionally, demand for probiotic drinks is increasing significantly owing to health benefits associated with consumption of probiotic fortified drinks such as juices, yogurt and supplements.
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