Probiotics Market Set to Surge, Projecting a CAGR of 8.20% and Reaching USD 91.4 Billion by 2028
The probiotics market has demonstrated substantial growth, achieving a noteworthy size of approximately USD 57.1 billion in 2022. Looking ahead, from 2023 to 2028, this market is expected to continue its upward trajectory, presenting a notable Compound Annual Growth Rate (CAGR) of 8.20%. By 2028, the market is anticipated to achieve a remarkable value of USD 91.4 billion.
Market Overview
Probiotics, known for their potential health benefits, are live microorganisms that provide a wide array of health advantages, especially for gut health. These live bacteria and yeasts, often referred to as “good” or “friendly” bacteria, can be consumed through certain foods or supplements. Probiotics are recognized for their role in supporting digestive health, boosting the immune system, and contributing to overall well-being.
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Growth Drivers
Growing Health Awareness and Demand for Functional Foods
Increasing health consciousness among consumers, coupled with a desire for functional foods, has driven the demand for probiotics. Consumers are actively seeking products that offer health benefits beyond basic nutrition, fueling the demand for probiotic-fortified food and beverages.
Preventive Healthcare and Immune System Support
The ongoing emphasis on preventive healthcare has led to a surge in the consumption of supplements and products promoting overall health. Probiotics, known for their immune-boosting properties and potential to maintain a healthy gut, have gained popularity as a part of preventive health measures.
Research and Development in Probiotic Strains and Applications
Extensive research and development activities in the field of probiotics have led to the discovery of new strains and applications. Innovative probiotic formulations tailored for specific health concerns, such as digestive issues, allergies, and mental health, are hitting the market, widening the range of probiotic products available to consumers.
Probiotics in Pediatric Nutrition
The incorporation of probiotics in pediatric nutrition has gained significant traction. Probiotics are being recognized for their potential in promoting gut health and supporting the development of a strong immune system in infants and young children. Pediatricians and parents are increasingly opting for probiotic-fortified formulas and supplements, driving the growth of this segment in the probiotics market.
E-commerce Boom and Online Sales Channels
The rise of e-commerce and online retailing has profoundly impacted the distribution and sales of probiotic products. Consumers now have the convenience of browsing and purchasing a wide range of probiotic supplements and foods online. E-commerce platforms offer a vast array of choices, detailed product information, and convenient home delivery options, contributing significantly to the market’s growth and accessibility.
Market Segmentation
The global probiotics market can be segmented based on Product, Ingredients, End-Use, Distribution Channel and region.
- Product: Probiotic Food and Beverages, Probiotic Dietary Supplements
- Ingredients: Bacterium, Yeast
- End-Use: Human Probiotics, Animal Probiotics
- Distribution Channel: Hypermarkets/Supermarkets, Pharmacies/Drug Stores, Specialty Stores, Online Stores, Others
Regional Insights
The probiotics market exhibits a strong presence across various regions globally, with North America and Europe being major markets due to high consumer awareness and a wide range of probiotic products available. Additionally, Asia-Pacific is emerging as a significant market, driven by the growing health and wellness trend and the integration of probiotics in traditional diets.
Future Outlook
The probiotics market is poised for substantial growth, with an increasing focus on health and wellness. The projected CAGR signifies a promising outlook, showcasing a future where probiotics become an integral part of daily dietary habits, contributing to improved health and vitality.
In conclusion, the global probiotics market is evolving rapidly, driven by health-conscious consumers seeking to enhance their overall well-being. Stakeholders in the industry are aligning their strategies to cater to the growing demand for probiotic products, ultimately contributing to a healthier and thriving global population.
