The global probiotics market size is expected to reach USD 105.63 billion by 2028 according to a new study by Polaris Market Research. The report “Probiotics Market Share, Size, Trends, Industry Analysis Report, By Source (Yeast, Bacteria); By End-Use (Animal, Human); By Application; By Distribution Channel; By Regions; Segment Forecast, 2021 – 2028” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The consumption of probiotics has increased owing to the increasing disposable income of consumers and the rising shift towards healthy and nutritional food and beverages. There has been growing consumption of immunity-boosting food and dietary supplements owing to rising awareness associated with nutrition, public initiatives against the spread of COVID-19, and inclination towards preventive healthcare. However, the market has been impaired due to operational challenges, supply chain disruption, and reduced workforce during the pandemic. Manufacturing activities have been halted due to various government regulations across the globe.
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Saccharomyces boularldii is a strain of yeast used in probiotics for prevention and treatment of several gastrointestinal problems. It assists in regulation of intestines and offers protection against pathogens. It is used for treatment of disorders such as diarrhea, lactose intolerance, and irritable bowel syndrome among others. Increasing concerns regarding healthy living and wellness have encouraged consumers to turn towards nutritional supplements.
Consumers in the region increasingly realize the importance of healthy eating and are incorporating it in their diet for overall wellness. The sale of the same through e-commerce platforms is gaining traction due to restrictions on movement and supply chain disruption during the pandemic. Millennials account for a significant share of consumers in Asia-Pacific, followed by Gen Xs and baby boomers.
The Leading Players include Nestle S.A., Lallemand Inc., Nebraska Cultures, Inc, Danone S.A., Arla Foods amba, BioGaia AB, Probi AB, Chr Hansen Holding A/S, Danisco A/S, Yakult Honsha Co., Ltd., Protexin, Ganeden, Inc., General Mills, Inc.,Lifeway Foods, Inc., PepsiCo, Inc., and Mother Dairy Fruit & Vegetable Pvt. Ltd.
Major Players are collaborating with each other for research and development, strengthening the industry presence, and technological innovation. Greater need to cater to growing customer requirements has encouraged participants to leverage new technologies for development of high-quality products.
Polaris Market Research has segmented the probiotics market report on the basis of source, application, distribution channel, end-use, and region:
Probiotics, Source Outlook (Revenue, USD Billion, 2016 – 2028)
Probiotics, Application Outlook (Revenue, USD Billion, 2016 – 2028)
- Animal Feed
- Dietary Supplements
- Functional Food & Beverages
Probiotics, Distribution Channel Outlook (Revenue, USD Billion, 2016 – 2028)
- Offline Stores
- Supermarkets and Hypermarkets
- Specialty Stores
- Online Platforms
Probiotics, End-Use Outlook (Revenue, USD Billion, 2016 – 2028)
Probiotics, Regional Outlook (Revenue, USD Billion, 2016 – 2028)
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa