Probiotics Market by Product Type (Functional Food & Beverages, Medical & Dietary Supplements, Animal Feed), Strain (Bacteria, Yeast), Form (Dry, Liquid), Sales Channel (Offline, Online), and Geography– Global Forecast to 2027
The research report titled “Probiotics Market by Product Type (Functional Food & Beverages, Medical & Dietary Supplements, Animal Feed), Strain (Bacteria, Yeast), Form (Dry, Liquid), Sales Channel (Offline, Online), and Geography– Global Forecast to 2027”, provides an in-depth analysis of the probiotics market in five major geographies and emphasizes the current market trends, market size, market share, recent developments, and forecast till 2027. The probiotics market is expected to grow at a CAGR of 6.7% from 2020 to 2027 to reach $76.7 billion by 2027.
The growth of this market is backed by the growing consumer awareness regarding the health benefits of probiotics, increasing use of probiotics as an alternative to antibiotics, growing research progress on the probiotics for newer applications, and growing proportion of aged population. Moreover, the growing use of probiotics for children and e-commerce growth are expected to create lucrative opportunities for players operating in this market. However, the regulations issued related to probiotics are expected to hinder the growth of this market to some extent.
The study offers a comprehensive analysis of the overall probiotics market with respect to strain, product type, form, sales channel, end-user, and geography. The global probiotics market is mainly segmented by strain (bacteria strain products and yeast strain products), product type (functional food & beverages, medical & dietary supplements, and animal feed), form (liquid and dry), sales channel (offline sales and online sales), end-user (human and animal), and geography. The study also evaluates industry competitors and analyses the market at a country level.
Based on strain, the bacteria strain segment is estimated to command the dominant share of the overall probiotics market in 2020. The large share of this segment is mainly attributed to the factors such as growing use of bacteria strain in a wide variety of commercial dairy products including sour and fresh milk, yogurt, and cheese, among others. In addition, the growing gastrointestinal and extraintestinal disorders (including prevention and alleviation symptoms of traveler’s diarrhea and antibiotic-associated diarrhea, inflammatory bowel disease, lactose intolerance, and irritable bowel syndrome); increasing popularity among health-conscious consumers around the world; and rising preference for nutrient-rich food products is expected to boost the demand for bacterial strain probiotics. However, the yeast strain product segment is expected to grow with the fastest CAGR during the forecast period.
Based on product type, the probiotic functional food & beverages segment is estimated to command the largest share of the overall probiotics market in 2020. The large share of this market is mainly attributed to the factors such as growing consumer interest for functional food, particularly probiotics that can support digestive health; rising health and wellness trends; and growing application of probiotics in yogurt, which is the most popular source of probiotics. However, the probiotic medical & dietary supplements segment is expected to grow with the fastest CAGR during the forecast period.
Based on sales channel, the offline sales segment is estimated to command the largest share of the overall probiotics market in 2020. The large share of this segment is mainly attributed to the increasing per capita disposable income, rising healthy eating habits, and growing urban population. In addition, the rise in the number of pharmacies and supermarkets and growing probiotics supplement industry in the U.S. and across the world further supports the growth of this segment. However, the online sales segment is expected to grow with the fastest CAGR during the forecast period.
Based on end-user, the human segment is estimated to command the largest share of the overall probiotics market in 2020. The large share of this market is mainly attributed to the major factors such as the growing use of probiotics to treat problems of the digestive tract in humans, growing proportion of elderly people, and high demand for nutritional products among consumers. However, the animal segment is expected to grow with the fastest CAGR during the forecast period.
Geographically, Asia-Pacific is estimated to command the largest share of the global probiotics market in 2020. The large share and fast growth of this market is mainly attributed to the factors such as increased consumer awareness regarding the relationship between their digestive health & immunity and overall wellness; growing diabetic and overweight people in Asia-Pacific; and rising innovations in probiotic formulations. In addition, the increasing trend across the Asia-Pacific region for non-dairy probiotic food (e.g. cereal based, fruit and vegetable juices) and presence of number of companies in the digestive health products category offers lucrative growth opportunities for the key players operating in this market.
The report includes competitive landscape based on an extensive assessment of the key strategic developments adopted by the leading market participants in the overall probiotics market over last four years (2017-2020). The key players operating in the overall probiotics market are Probi AB (Sweden), BioGaia AB (Sweden), Nestle S.A. (Switzerland), Chr. Hasen Holding A/S (Denmark), Danone S.A. (France), Yakult Honsha Co., Ltd. (Japan), Lallemand Inc. (Canada), Lifeway Foods Inc. (U.S.), Dupont de Nemours, Inc. (U.S.), Kerry Group plc (Ireland), Archer Daniels Midland Co. (U.S.), Deerland Probiotics & Enzymes Inc. (U.S.), PepsiCo Inc. (U.S.), Evolve Biosystems (U.S.), Cell Biotech Co., Ltd. (Korea), and Probiotical S.p.A. (Italy) among others.
Scope of the report
Probiotics Market, by Strain
- Bacteria Strain Products
- ·Multi Bacterial Strain Products
- ·Lactobacillus Strain Products
- ·Bifidobacterium Strain Products
- ·Streptococcus Thermophilus Strain Products
- ·Other Bacterial Strain Products
- Yeast Strain Products
Probiotics Market, by Product Type
- Functional Food & Beverages
- ·Dairy Food
? Probiotic Milk
? Other Dairy Food
- ·Non-dairy Food
? Fruit and Vegetable Juices
? Non-Dairy Kefir
? Non-Dairy Yogurt
? Other Non-dairy Food
- ·Baked Food
- Medical & Dietary Supplements
- ·Nutritional Supplements
- ·Specialty Nutrients
- ·Infant Formula
- Animal Feed
Probiotics Market, by Form
- ·Capsules & Tablets
- ·Semi-Solid & Gels
- ·Stick Packs
Probiotics Market, by Sales Channel
- Offline Sales
- ·Health Food Stores
- ·Super Markets
- Online Sales
Probiotics Market, by End-User
- ·Adults (18-65 Years)
- ·Seniors (Above 65 Years)
- ·Children & Adolescents (0-18 Years)
Probiotics Market, by Geography
- North America
- ·Rest of The Europe
- Asia-Pacific (APAC)
- ·South Korea
- ·Rest of The Asia Pacific
- Latin America
- ·Rest of Latin America
- Middle East and Africa