Probiotics Market Size Worth to be USD 165.1 Billion in 2035 | Roots Analysis
Probiotics Market Size Worth to be USD 165.1 Billion in 2035 | Roots Analysis
The growth in the probiotics market size over the next decade is likely to be the result of a rise in the consumption of probiotics products, due to the growing focus on health and fitness coupled with COVID-19 impact. Various types of probiotic products are available in the market, these include fermented food, dry food, baked food, beverages, chocolates, food supplements, infant formula and specialty supplements.
These products primarily enhance the gut microbiome which leads to improved gut health, immunity and cranial health. These lead to mitigating diseases occurring due to weak immunity or poor microbiome. These prophylactic treatment solutions have emerged as a promising alternative over conventional medicine, leading to the upsurge in the growth of the probiotics industry, in both developed and developing regions.
The probiotics companies landscape features over 95 companies offering a range of probiotic products, including functional foods, nutritional supplements, specialty supplements, animal feed and infant formula. Overall, the market landscape is well-fragmented, featuring the presence of very small, small, mid-sized, large, and very large companies, which claim to have the required expertise to offer novel probiotic solutions for different purposes. It is interesting to highlight that most of these European probiotics manufacturers have hub based in Italy and Spain. Notably, more than 75% of key probiotic companies offer probiotic products in the format of foods and beverages.
Top manufacturers in the probiotics market include AB-BIOTICS, ADM, Arla Foods, BioGaia, Danone, General Mills, IFF, i-Health, Kerry, Lallemand, Lifeway Foods, Meiji, Morinaga Milk, Mother Dairy, Nestlé, Novonesis, Probi, Velbiom, Winclove Probiotics, and Yakult Honsha.
Key Report Takeaways
§ Several key players (established as well as startups) in the probiotics industry are engaged in offering number products, including probiotic foods, beverages, dietary probiotic supplements and infant formula
§ Majority of the key companies offer probiotic dietary supplements; of these, over 90% of the companies offer specialty supplements supporting specific health conditions, such as mental, oral, bone and women health
§ To build a competitive advantage, companies are extensively upgrading their capabilities for the advancement of their probiotic product portfolios
§ More than 500 patents related to probiotics have been filed / granted by the probiotic companies in order to protect the intellectual property generated within this field
§ Driven by the increasing consumer awareness and preference for preventative treatment, the probiotics market is expected to grow steadily in the foreseen future
§ Owing to the numerous advantages offered by probiotics for prophylactic and therapeutictreatment, the market is anticipated to grow at an annualized rate of 8.0% in the coming decade
§ The projected market opportunity is expected to be well distributed across different foods and beverages, ingredients, end users and distribution channels
Probiotics Market Regional Outlook
Based on the key geographical regions, the probiotics market can be segmented into five major regions, North America, Europe, Asia Pacific, Middle East and North Africa, and Latin America. The highest market share is captured by Asia Pacific in the current year. Interestingly, highest growth rate is associated with emerging demographics, such as Latin America, and Middle East and North Africa. This can be attributed to rise in awareness about these products in the people residing in these regions; many key companies have been making strategic initiatives to contribute to the awareness campaigns, along with launching of production facilities / making deal with retail stores in these regions.
Probiotics Market Segments
Based on the research, Roots Analysis has segmented the Probiotics Market into Type of Product, Type of Food and Beverage, Type of Food and Beverage Product, Type of Probiotic Dietary Supplement, Type of Ingredient, End User, Target Human Population, Distribution Channel, and Geographical Regions.
by Type of Probiotic
§ Foods and Beverages
§ Probiotic Dietary Supplements
§ Animal Feed
§ Other Probiotics
by Type of Food and Beverage
§ Fermented Foods
§ Beverages
§ Dry Foods
§ Other Foods and Beverages
by Type of Food and Beverage Product
§ Dairy Product
§ Non Dairy Product
by Type of Probiotic Dietary Supplement
§ Nutritional Supplements
§ Specialty Supplements
§ Infant Formula
§ Other Probiotic Dietary Supplements
by Type of Ingredient
§ Bacteria
§ Yeast
by End User
§ Humans
§ Animals
§ Adults
§ Children / Infants
by Distribution Channel
§ Hypermarkets / Supermarkets
§ Pharmacies / Drug Stores
§ Specialty Stores
§ Online Stores
§ Other Distribution Channels
by Geographical Regions
· North America
· Europe
· Asia Pacific
· Middle East and North Africa
· Latin America
About Roots Analysis
Roots Analysis is a global leader in the pharma / biotech market research. Having worked with over 750 clients worldwide, including Fortune 500 companies, start-ups, academia, venture capitalists and strategic investors for more than a decade, we offer a highly analytical / data-driven perspective to a network of over 450,000 senior industry stakeholders looking for credible market insights. All reports provided by us are structured in a way that enables the reader to develop a thorough perspective on the given subject. Apart from writing reports on identified areas, we provide bespoke research / consulting services dedicated to serve our clients in the best possible way.
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