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Redding, California - May 27, 2024

Probiotics Market to be Worth $100.10 Billion by 2031

Probiotics Market Size, Share, Forecast, & Trends Analysis by Strain (Bacillus), Product Type (Dairy {Yogurt}, Baked Food}, Animal Feed), Form (Liquid), Sales Channel (Super Markets), End User (Human {Adults, Senior}, Animal) - Global Forecast to 2031

Meticulous Research^®—a leading global market research company, published a research report titled ‘Probiotics Market Size, Share, Forecast, & Trends Analysis by Strain (Bacillus), Product Type (Dairy {Yogurt}, Baked Food}, Animal Feed), Form (Liquid), Sales Channel (Super Markets), End User (Human {Adults, Senior}, Animal) - Global Forecast to 2031.’

According to this latest publication from Meticulous Research^®, the probiotics market is projected to reach $100.10 billion by 2031, at a CAGR of 6.7% from 2024–2031. The growth of the probiotics market is driven by the rising consumer awareness about the health benefits of probiotic-infused foods, the increasing use of probiotics as an alternative to antibiotics, and ongoing research advancements in probiotics. However, stringent regulatory frameworks pertaining to probiotics may restrain market growth. Furthermore, the utilization of probiotics in infant nutrition is expected to create market growth opportunities. Additionally, the rise of e-commerce is a prominent trend in this market.

Key Players

The key players operating in the probiotics market are Probi AB (Sweden), BioGaia AB (Sweden), Nestlé S.A. (Switzerland), Novonesis Group (Denmark), Danone S.A. (France), Yakult Honsha Co., Ltd. (Japan), Lallemand Inc. (Canada), Lifeway Foods Inc. (U.S.), International Flavors & Fragrances Inc. (U.S.), Kerry Group plc (Ireland), Archer-Daniels-Midland Company (U.S.), KeVita, Inc. (a part of PepsiCo Inc.) (U.S.), Infinant Health Inc. (U.S.), Cell Biotech Co., Ltd. (Korea), and Probiotical S.p.A. (Italy).

The probiotics market study presents historical market data in terms of value (2022 and 2023), estimated current data (2024), and forecasts for 2031. This market is segmented by strain (bacteria {multi-bacterial, Lactobacillus, Bifidobacterium, Streptococcus Thermophilus, and other bacteria strain products} and yeast strain products), product type (functional food & beverages {dairy products [yogurt, kefir, cheese, probiotic milk, and other dairy products] and non-dairy products {non-dairy yogurt, non-dairy kefir, and fruit & vegetable juices, baked food, and other non-dairy products}, medical & dietary supplements {nutritional supplements, specialty nutrients, and infant formula}, and animal feed), form (liquid probiotics and dry probiotics {capsules & tablets, powder, semi-solid & gels, and stick packs}), sales channel (offline sales {supermarkets, pharmacies, and health food stores} and online sales), end user (human {adults, seniors, and children & adolescents} and animal {poultry, swine, ruminants, aquaculture, pets, and other animals}), and geography (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa).

Based on strain, the probiotics market is segmented into bacteria strain products and yeast strain products. In 2024, the bacteria strain products segment is expected to account for the larger share of 86.4% of the probiotics market. This segment’s large market share can be attributed to the widespread incorporation of bacteria strain probiotics in various commercial dairy products such as sour and fresh milk, yogurt, and cheese. Moreover, the increasing prevalence of gastrointestinal and extraintestinal disorders, coupled with a growing awareness and preference for nutrient-rich foods, are expected to drive the growth of this segment.

Based on product type, the probiotics market is segmented into functional food & beverages, medical & dietary supplements, and animal feed. The medical & dietary supplements segment is projected to register the highest CAGR of 9.2% during the forecast period. The growth of this segment is driven by the rising prevalence of gut-related diseases and growing awareness regarding the health benefits of supplements.

Based on form, the probiotics market is segmented into liquid probiotics and dry probiotics. In 2024, the liquid probiotics segment is expected to account for the larger share of 60.0% of the probiotics market. This segment’s large market share can be attributed to the versatility of liquid probiotics, available in various forms such as liquid supplements and probiotic-enriched beverages. Additionally, liquid probiotics are favored by demographics such as infants, older adults, and individuals who face difficulty swallowing tablets. However, the refrigeration requirement for many liquid probiotics, particularly juices and probiotic drinks, may hinder the growth of this segment.

Based on sales channel, the probiotics market is segmented into offline sales and online sales. The online sales segment is projected to register a higher CAGR of 10.0% during the forecast period. The growth of this segment is driven by the rising consumer preference for online shopping, driven by the numerous benefits offered by online platforms, including convenience, personalization options, contactless shopping experiences, easy comparison of prices between brands, availability of diverse brands, and greater discounts compared to offline stores.

Based on end user, the probiotics market is segmented into humans and animals. In 2024, the humans segment is expected to account for the largest share of 93.3% of the probiotics market. Scientific research and technological advancements in the field of human-grade probiotics have expanded the range of products suitable for human consumption. This development has prompted leading market players to incorporate novel human-grade ingredients into juices and other non-milk-based applications. Furthermore, the utilization of probiotics for addressing digestive tract issues in humans has increased the demand for probiotic products. These factors contribute to the large market share of this segment.

Based on region, the probiotics market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2024, Asia-Pacific is expected to account for the largest share of 45.6% of the probiotics market. Asia-Pacific’s probiotics market is estimated to be worth USD 29.0 billion in 2024. Asia-Pacific’s significant market share can be attributed to the increasing shift towards the adoption of non-dairy probiotic food (cereal-based fruit and vegetable juices), coupled with the presence of many companies in the Chinese digestive health ingredient market. Additionally, the rising consumer interest in probiotic supplements and a growing focus on improving immune health, driven by the understanding of the links between microbial activities in the gut and their effects on immunity, contributes to the increasing demand for probiotics across the region.

Download Sample Report Here @ https://www.meticulousresearch.com/download-sample-report/cp_id=5113

Key Questions Answered in the Report:

What is the current revenue generated by probiotics globally?
At what rate is the probiotics demand projected to grow for the next 5–7 years?
What are the historical market sizes and growth rates of the probiotics market?
What are the major factors impacting the growth of this market at the regional and country levels? What are the major opportunities for existing players and new entrants in the market?
Which segments in terms of strain, product type, form, sales channel, and end user are expected to create major traction for the manufacturers in this market?
What are the key geographical trends in this market? Which regions/countries are expected to offer significant growth opportunities for the manufacturers operating in the probiotics market?
Who are the major players in the probiotics market? What are their specific product offerings in this market?
What are the recent strategic developments in the probiotics market? What are the impacts of these strategic developments on the market?

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Redding, California - May 27, 2024

Probiotics Market to be Worth $100.10 Billion by 2031

Probiotics Market Size, Share, Forecast, & Trends Analysis by Strain (Bacillus), Product Type (Dairy {Yogurt}, Baked Food}, Animal Feed), Form (Liquid), Sales Channel (Super Markets), End User (Human {Adults, Senior}, Animal) - Global Forecast to 2031

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