The probiotics market is estimated at USD 49.4 Billion in 2020 and projected to grow at a CAGR of 7.0%, to reach USD 71.3 billion by 2027.It is driven by the growing consumer inclination towards preventive healthcare in conjunction with the development of efficient probiotic strains. Probiotics, when consumed in adequate amounts, have desirable effects on the human body such as improved gut health and reduced intestinal inflammation. Probiotics play a great role in preventive healthcare as they prevent the occurrence of diseases by strengthening the immune system. Thus, rising awareness regarding preventive healthcare is expected to benefit the overall market growth over the forecast period.
Probiotics are found in supplement form or as components of foods & beverages. Their integration with inexpensive health foods, such as yogurt, fruit juices, and cultured dairy drinks has contributed to a significant market size. The most commonly used bacteria include Bifidobacteria and Lactobacilli, which are found in various dairy products, including yogurt. In the dairy category, yogurt is the most popular option for consumption of probiotics. Manufacturers are coming up with a variety of options in the yogurt category; for instance, in 2013, Chobani, LLC (US) introduced a line of Greek yogurt in the US market, which has now become one of the leading brands across North America.
The increasing demand for probiotics has shown that customers are preferring products with proven benefits. The increased evidence of health benefits associated with probiotics for health restoration has increased the customer expectations related to probiotics for health curing functions. This inclination toward a safe, natural, and cost-effective substitute for drugs has led the application of probiotics as pharmaceutical agents. Beneficial effects of probiotics as pharmaceutical agents seem to be strain- and dose-dependent. Clinical trials have displayed that probiotics may cure certain disorders or diseases in humans, especially those related to the gastrointestinal tract.
Probiotic strains and products are developed and produced as per the international food regulations. Due to the high cost of production, the cost of the final product is also high. Marketing and distribution of these products also add to the product price, as they require different packaging and distribution channels as compared to common products. Though consumers are aware of the health benefits of probiotics, their high prices are restraining them from buying the product, which is a challenge for manufacturers.
The prominent players in the global probiotics market are CHR-Hansen A/S (Denmark), Novozymes A/S (Denmark), Lallemand Inc. (Canada), Probi AB (Sweden), Kerry Group (Ireland), Sabinsa Corporation (US), DowDupont Inc. (US), Synbio Tech Inc. (Taiwan), Roelmi HPC (Italy), UAS Laboratories LLC (US), Probiotical SpA (Italy), Greentech SA (France), Biosearch, SA (Spain), and BioCC OÜ (Estonia) .
The Asia Pacific is projected to be the fastest-growing market for the period considered for this study, due to the rising in disposable income and the increase in demand for nutritional food products, along with the growing technology base, leading to the increased demand for probiotics in the region. The rapid economic growth in countries such as China, Japan, Brazil, and Argentina have led to a significant increase in the disposable incomes of livestock owners. This, in turn, is driving the demand for probiotic-based food, making the Asia Pacific the fastest-growing market globally.
Probiotics are found in supplement form or as components of foods & beverages. Their integration with inexpensive health foods, such as yogurt, fruit juices, and cultured dairy drinks has contributed to a significant market size. The most commonly used bacteria include Bifidobacteria and Lactobacilli, which are found in various dairy products, including yogurt. In the dairy category, yogurt is the most popular option for consumption of probiotics. Manufacturers are coming up with a variety of options in the yogurt category; for instance, in 2013, Chobani, LLC (US) introduced a line of Greek yogurt in the US market, which has now become one of the leading brands across North America.
The increasing demand for probiotics has shown that customers are preferring products with proven benefits. The increased evidence of health benefits associated with probiotics for health restoration has increased the customer expectations related to probiotics for health curing functions. This inclination toward a safe, natural, and cost-effective substitute for drugs has led the application of probiotics as pharmaceutical agents. Beneficial effects of probiotics as pharmaceutical agents seem to be strain- and dose-dependent. Clinical trials have displayed that probiotics may cure certain disorders or diseases in humans, especially those related to the gastrointestinal tract.
Probiotic strains and products are developed and produced as per the international food regulations. Due to the high cost of production, the cost of the final product is also high. Marketing and distribution of these products also add to the product price, as they require different packaging and distribution channels as compared to common products. Though consumers are aware of the health benefits of probiotics, their high prices are restraining them from buying the product, which is a challenge for manufacturers.
The prominent players in the global probiotics market are CHR-Hansen A/S (Denmark), Novozymes A/S (Denmark), Lallemand Inc. (Canada), Probi AB (Sweden), Kerry Group (Ireland), Sabinsa Corporation (US), DowDupont Inc. (US), Synbio Tech Inc. (Taiwan), Roelmi HPC (Italy), UAS Laboratories LLC (US), Probiotical SpA (Italy), Greentech SA (France), Biosearch, SA (Spain), and BioCC OÜ (Estonia) .
The Asia Pacific is projected to be the fastest-growing market for the period considered for this study, due to the rising in disposable income and the increase in demand for nutritional food products, along with the growing technology base, leading to the increased demand for probiotics in the region. The rapid economic growth in countries such as China, Japan, Brazil, and Argentina have led to a significant increase in the disposable incomes of livestock owners. This, in turn, is driving the demand for probiotic-based food, making the Asia Pacific the fastest-growing market globally.
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