Probiotics Market CAGR To Exceed 8.0% by 2035, Due To The Growing Health Awareness | Roots Analysis

According to our latest market report "Probiotics Market by Type of Probiotic, Type of Food and Beverage, Type of Food and Beverage Product, Type of Ingredient, End User, Target Human Population, Distribution Channel, and Geographical Regions: Industry Trends and Global Forecasts, till 2035", the global probiotics market size is projected to reach USD 165.1 billion by 2035 from USD 70.9 billion in the current year, growing at a CAGR of ~8.0% in the forecast period.

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The live, beneficial strains present in the probiotics offer a diverse array of health benefits, including digestion, immunity boost, treating irritable bowel syndrome and other gut-related issues.. Probiotics are composed of single or multiple strains of gut-friendly bacteria or yeast, and are available in different forms and formulations, such as nutrition supplements, specialty supplements, infant formula, foods and beverages and animal feed. The increase in general awareness (especially after COVID-19 impact), rise in geriatric population, results in the need for such healthy products in the daily diet. Moreover, the growing focus towards innovation and research in this domain has led to development of novel format of probiotics, such as next-generation probiotics and bio-engineered probiotics, which are more patient-centric.

Probiotics Market Segments

Based on the Type of Probiotic, the market is segmented into foods and beverages, animal feed and other probiotics

1. The foods and beverages segment is likely to capture the largest revenue share of ~80% in the probiotics market, by 2024.

Based on the Type of Food and Beverage, the market is segmented into fermented foods, beverages, dry foods, and other foods and beverages

1. The fermented foods segment is likely to capture the largest revenue share of ~35% in the probiotics market, by 2024.
2. The fermented foods segment is expected to show an annual growth rate of 8.3%, during the forecast period.

Based on the Type of Food and Beverage Product, the market is segmented into dairy products and non dairy products

1. The dairy product segment is likely to capture the largest revenue share of 80% in the probiotics market, by 2024.
2. The non dairy product segment is expected to show an annual growth rate of 9.0%, during the forecast period.

Based on the Type of Probiotic Supplement, the market is segmented into nutritional supplements, specialty supplements, infant formula

1. The nutritional supplements segment is likely to capture the largest revenue share of ~60% in the probiotics market, by 2024.
2. The infant formula segment is expected to show an annual growth rate of 9.7%, during the forecast period.

Based on the Type of Ingredient, the market is segmented into bacteria and yeast

1. The bacteria segment is likely to capture the largest revenue share of ~90% in the probiotics market, by 2024.
2. Moreover, the bacteria segment is expected to show an annual growth rate of 8.1%, during the forecast period.

Based on the End User, the market is segmented into humans and animals

1. The probiotics for humans is likely to capture the largest revenue share (~95%) in the overall probiotics market, in 2024.
2. Moreover, the human segment is expected to show an annual growth rate of 8.1%, during the forecast period.

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Based on the Target Human Population, the market is segmented into adults and children / infants

1. The probiotics for adults is likely to capture the largest revenue share (~80%) in the overall probiotics market, in 2024.
2. The children / infants segment is expected to show an annual growth rate of 9.0%, during the forecast period.

Based on the Distribution Channel, the market is segmented into hypermarkets / supermarkets, pharmacies / drug stores, specialty stores, online stores, and other distribution channels

1. The hypermarkets / supermarkets is likely to capture the largest revenue share of 45% in the probiotics market, by 2024.
2. The online stores segment is expected to show an annual growth rate of 8.8%, during the forecast period.

Based on the Regional Insights, the market is segmented into North America, Europe, Asia-Pacific, Middle East and North Africa, and Latin America

1. Asia-Pacific dominated the probiotics market and accounted for the largest revenue share (over 45%) in the current year.
2. In the Middle East and North America, the probiotics market is anticipated to demonstrate lucrative growth during the forecast period.

Probiotics Market Regional Outlook
Based on the geographical regions, the probiotics market can be segmented into five major regions, including North America, Europe, Asia Pacific, Middle East and North Africa, and Latin America. Asia Pacific is anticipated to capture the majority share of the probiotics market in the current year and this trend is likely to remain unchanged during the forecast period. The inclination towards products for preventative health, along with enormous number of health-conscious people drives the consumption of probiotic food, beverages and supplements in this region.

Key Report Takeaways
1. Several key companies (established as well as start ups) in the probiotics domain claim to offer various types of products, including probiotic foods, beverages, and infant formula
3. In order to build a competitive advantage, companies are continuously upgrading their capabilities in order to advance their probiotic product portfolios
4. More than 500 patents related to probiotics have been filed / granted by the probiotic providers in order to protect the intellectual property generated within this field
5. Driven by the increasing consumer awareness and preference for prophylactic treatment, the probiotics market is anticipated to witness a steady growth in the foreseen future
6. Owing to the numerous advantages offered by probiotics for prevention and treatment purpose, the market is anticipated to grow at an annualized rate of 8.0% in the coming decade
7. The projected market opportunity is anticipated to be well-distributed across different foods and beverages, ingredients, end users and distribution channels.

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Probiotics Market Companies Profiled
Examples of key companies engaged in probiotics market (which have also been profiled in this market report; the complete list of companies is available in the full report) include AB-BIOTICS, ADM, Arla Foods, BioGaia, Danone, General Mills, IFF, i-Health, Kerry, Lallemand, Lifeway Foods, Meiji, Morinaga Milk, Mother Dairy, Nestlé, Novonesis, Probi, Velbiom, Winclove Probiotics, Yakult Honsha

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