Home Press Releases Probiotics Market Size Worth $123.32 Billion by 2030 | CAGR: 7.7%

Probiotics Market Size Worth 123.32 Billion by 2030 | CAGR: 7.7%

The global probiotics market size is expected to reach USD 123.32 Billion by 2030 according to a new study by Polaris Market Research. The report “Probiotics Market Share, Size, Trends, Industry Analysis Report, By Source (Yeast, Bacteria); By Application (Animal Feed, Diet Supplements, Functional Food & Beverages, Others); By Distribution Channel; By End-Use; By Region; Segment Forecast, 2022 – 2030provides an in-depth insight into prevalent market dynamics and offers inspection on the market growth of the future.

 

The stride of population aging around the world is rising exponentially. The global population aged 60 years over numbered 962 Billion in 2017. The figure for older people is anticipated to reach approximately 2.1 billion by 2050.

 

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The number of people aged 80 years or above is expected to escalate by 425 Billion by 2050 from 137 Billion in 2017. This speedy growth in the population that is elderly leads to an increase in the patients enduring chronic diseases, which in turn is anticipated to push the need for microbes such as probiotics to restrict the menaces of such conditions.

 

Based on source, the yeast strain product segment is anticipated to grow with the fastest CAGR during the forecast period. Elements such as prohibiting antibiotic usage in animal feed in many North American and European countries and the growing use of a yeast strain in functional foods are the prominent drivers for this segment.

 

Other than growing demand for yeast strain-based medicines because of demonstrated positive results for lessening the probability of chronic diseases such as bowel diseases and diarrhea related to antibiotic use is anticipated to boost the demand in the forecast period.

 

Probiotic supplements accommodating varied probiotic strains are obtainable in several forms, such as probiotic tablets, drops, and capsules. Makers of branded private labels and products seem to continue to broaden their product line in the probiotic product categories. The increasing product line and heterogeneity are deliberated to make manufacturers competent to cater to manifold demand trends globally. A similar factor is encouraging retail channels to escalate their production volume concerning altering consumer preferences and tastes.

 

Market players in the market include Arla Foods amba, BioGaia AB, Chr Hansen Holding A/S, Danisco A/S, Danone S.A., Ganeden, Inc., General Mills, Inc., Lallemand Inc., Lifeway Foods, Inc., Mother Dairy Fruit & Vegetable Pvt. Ltd., Nebraska Cultures, Inc, Nestle S.A., PepsiCo, Inc., Probi AB, Protexin, and Yakult Honsha Co., Ltd.

 

For instance, in May 2020, the prominent player Probi AB endorsed an R&D partnership, an agreement that is long-term done with Competence Centre on Health Technologies (CCHT). The main objective of this partnership was to advance contemporary products based on probiotic lactobacilli strains explicitly relating to women’s health.

 

Polaris Market Research has segmented the probiotics market report based on source, application, distribution channel, end-use, and region.

 

Probiotics, Source Outlook (Revenue – USD Billion, 2018 – 2030)

  • Yeast
  • Bacteria

Probiotics, Application Outlook (Revenue – USD Billion, 2018 – 2030)

  • Animal Feed
  • Dietary Supplements
  • Functional Food & Beverages
  • Others

Probiotics, Distribution Channel Outlook (Revenue – USD Billion, 2018 – 2030)

  • Offline Stores
  • Pharmacies
  • Supermarkets and Hypermarkets
  • Specialty Stores
  • Online Platforms

Probiotics, Distribution Channel Outlook (Revenue – USD Billion, 2018 – 2030)

  • Animal Probiotics
  • Human Probiotics

Probiotics, Regional Outlook (Revenue – USD Billion, 2018 – 2030)

  • North America
    • U.S.
    • Canada
  • Europe
    • France
    • Germany
    • UK
    • Italy
    • Spain
    • Netherlands
    • Russia
  • Asia Pacific
    • Japan
    • China
    • India
    • Malaysia
    • Indonesia
    • South Korea
  • Latin America
    • Brazil
    • Mexico
    • Argentina
  • Middle East & Africa
    • Saudi Arabia
    • UAE
    • Israel
    • South Africa

 

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