by Market Overview:
Probiotics are live microorganisms that provide health benefits when consumed. Probiotics help maintain a healthy bacterial balance in the gut and aid digestion. They are found in foods and supplements.
The probiotics market is estimated to be valued at US$ 63.79 Bn in 2023 and is expected to exhibit a CAGR of 8.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the major trends in the probiotics market is the development of innovative and advanced products tailored to address specific health conditions. Manufacturers are investing in R&D to develop probiotic strains that can effectively treat chronic diseases. Also, the development of vegan and vegetarian probiotic supplements is gaining traction due to the rising trend of plant-based diets. Manufacturers are utilizing various substrates such as agave, corn, and cabbage to culture probiotic microbes and offer dairy-free options.
SWOT Analysis
Strength: Probiotics offer several health benefits such as improved digestion, immunity, weight management, and overall gut health. They help maintain a natural balance of microorganisms in the intestine.
Weakness: The efficacy of probiotics greatly depends on the strain types and consumption level. More scientific evidence and standards are required regarding the health claims of different probiotic products.
Opportunity: Rising incidence of lifestyle diseases, digestive issues, and obesity has fueled the demand for effective digestive remedies like probiotics. Growing consumer awareness about gut health and preventive healthcare presents major opportunities.
Threats: Stringent regulatory frameworks and approval procedures for new probiotic strains delay product launches. Rapid changes in consumer preferences and introduction of substitute products pose threats.
Key Takeaways
The Global Probiotics Market Size is expected to witness high growth, exhibiting CAGR of 8.3% over the forecast period, due to increasing consumer awareness about gut health and preventive healthcare. Probiotics are widely adopted for conditions like irritable bowel syndrome (IBS), intestinal bowel disease (IBD), and other digestive disorders.
Regional analysis: North America dominated the global probiotics market in 2023 and is expected to maintain its lead through 2030. High spending on digestive health products and growing acceptability of probiotic supplements in the US and Canada drive market growth. Asia Pacific is expected to exhibit the fastest growth during the forecast period, led by China, Japan, and India. Rapidly developing economies, large consumer base, and expanding middle-class population offer immense opportunities.
Key players operating in the probiotics market are BioGaia AB, Chr. Hansen, Groupe Danone S.A., Nestle S.A., PROBI AB, Lifeway Foods, Inc., Mother Dairy, General Mills, Inc., China-Biotics, Inc., Yakult Honsha Co., Ltd., and E. I. du Pont de Nemours and Company. Major players focus on new product launches, strengthening distribution channels, and promoting brand awareness to increase market share.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc.
