Probiotics Market Set to Reach USD 121.23 Billion by 2030, Driven by Functional Dairy Products Enhancing Digestive Wellness
Mar 2024
Consumer Goods
As per the report published by Kings Research, the global Probiotics Market was valued at USD 53.05 billion in 2022. The market is projected to reach USD 121.23 billion by 2030, growing at a CAGR of 11.10% from 2023 to 2030.
Probiotics, which are defined as the consumption of live microorganisms that provide health benefits, encompass a diverse range of products, from supplements to functional foods. These microorganisms, often bacteria such as Lactobacillus and Bifidobacterium species, play a crucial role in promoting digestive health and overall well-being. The applications of probiotics are vast, with their integration into functional foods and supplements being a prominent trend. In functional foods, products such as probiotic-infused yogurt, kefir, and kombucha are gaining significant popularity due to increasing consumer preference for convenient and enjoyable ways to incorporate nutritious ingredients into their daily diets.
The supplements sector dominates the market, offering a convenient solution for individuals to ensure regular intake of probiotics, especially for those who may not consume probiotic-rich foods frequently. The drivers fueling this trend include a growing focus on health and wellness, preventive healthcare awareness, and ongoing research and development efforts, which contribute to the introduction of novel strains and innovative delivery methods.
Key Insights
- Based on product, the functional food & beverages segment held the largest market share of 44.57% in 2022
- On the basis of ingredients, the bacteria segment generated the highest revenue of USD 34.95 billion in 2022
- By distribution channel, the online stores segment is anticipated to grow at the highest CAGR of 13.16% over the forecast period
- On the basis of region, Asia Pacific accounted for the largest market share of 37.85% in 2022
Danone Launched Probiotic Supplement to Support Breastfeeding Experiences
July 2023: Danone introduced Almimama, a science-backed probiotic supplement aimed at enhancing breastfeeding outcomes. Drawing on its extensive knowledge in breastmilk research and breastfeeding, Danone has developed this product to effectively reduce the occurrence of mastitis.
Functional Dairy Products for Digestive Wellness to Create New Opportunities for Probiotics Market Expansion
The increased consumption of functional dairy products for digestive wellness presents a significant opportunity for market development. With consumers becoming more health-conscious, there is a growing preference for dairy products that not only offer nutritional value but also contribute to digestive health. This trend has fueled the demand for functional dairy products enriched with probiotics, such as yogurt and kefir, as they are perceived to support a balanced gut microbiome and overall digestive well-being.
This shift in consumer preferences creates a substantial growth opportunity for dairy companies to capitalize on the rising demand for products aligning with health and wellness trends. By innovating and introducing probiotic-rich dairy options, companies can cater to the increasing consumer focus on holistic well-being, thus enhancing their market share and revenue.
High Research and Development Costs to Hinders the Probiotics Market Growth
One notable challenge in the market is the high research and development (R&D) costs associated with developing new probiotic strains. The quest for innovative and effective probiotic formulations requires substantial investment in scientific research, clinical trials, and product development. This high cost can pose a challenge for smaller companies and startups looking to enter the market or expand their product portfolios.
The financial burden of R&D may result in limited innovation and slower introduction of new probiotic products, impacting the overall growth potential of the market. Overcoming this challenge necessitates strategic collaborations, efficient resource utilization, and potentially industry-wide initiatives to share research findings, making it more feasible for a broader range of market players to contribute to the development of novel products.
North America to Emerge as the 2nd Fastest-Growing Region With the Increasing Adoption of Probiotics
North America is expected to be the 2nd fastest-growing region in the probiotics market, depicting the highest CAGR of 11.35% over 2023-2030. This growth is likely to be driven by the increasing adoption of probiotics in the region, fueled by a growing awareness of the importance of digestive health and the preventive healthcare trend.
Consumers in North America are actively seeking probiotic-rich products, including supplements and functional foods, thereby contributing to the regional market growth. The presence of key market players, coupled with continuous innovation and product launches, further propels North America as a dynamic and thriving market for probiotics.
The region's growing emphasis on preventive healthcare aligns with the positive perception of probiotics as a natural and effective means to promote gut health and immune system resilience. As a result, the North America probiotics market is positioned to observe robust growth on account of consumers increasingly integrating these health-promoting microorganisms into their daily routines.
Market Players Concentrate on Innovative Product Innovation to Drive Market Development
The global probiotics market is fragmented with key players such as Danone S.A., Probi, Chr. Hansen Holding A/S, Yakult Honsha Co.,Ltd., Procter & Gamble, Lifeway Foods, Inc., Nestlé, DuPont, MORINAGA MILK INDUSTRY CO., LTD., DSM, and others. Companies employ a variety of strategic measures such as acquisitions, mergers, partnerships, product introductions, and collaborations to expand their business globally and enhance their competitive position.