CHICAGO, April 9, 2024 /PRNewswire/ — According to Arizton’s latest focus insight report, the probiotics market is growing at a CAGR of 8.39% during 2023-2029.
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Probiotics Market Report Scope
|
Report Attributes |
Details |
|
Market Size (2029) |
USD 115.07 Billion |
|
Market Size (2023) |
USD 70.95 Billion |
|
CAGR (2023-2029) |
8.39 % |
|
Historic Year |
2020-2022 |
|
Base Year |
2023 |
|
Forecast Year |
2024-2029 |
North America has the largest market share in the global probiotics market (2023). In 2023, the functional food and beverage segment accounted for a 83.06% share of the global probiotics market. The segment is anticipated to retain its market dominance during the forecast period. Customers have shown interest in purchasing probiotic-based functional foods, which will drive the market during the forecast period. The functional food & beverage segment is sub-segmented into dairy-based probiotics and non-dairy-based probiotics. Dairy-based probiotics include milk-based, yogurt-based, cheese-based, and others. Non-dairy-based probiotics include vegetable-based probiotics, fruit-based probiotics, cereal-based probiotics, and meat-based probiotics. Various diseases are increasing due to multiple reasons, such as unhealthy food consumption, changing lifestyles, and others. Many occur due to disturbed gut health. Thus, consumers prefer healthy foods & beverages that help to maintain gut health. They focus on offering foods with probiotics along with other nutrients. Therefore, the demand for functional food & beverage products will increase during the forecast period.
In 2023, the drug store segment accounted for a 15.29% share, with chain pharmacies experiencing rapid growth thanks to robust supply chains. Arizton forecasts an incremental growth of more than $6 billion, marking a substantial absolute growth during the forecast period. These pharmacies, often situated near hospitals, serve as primary sources for medicines, including probiotics in various forms like tablets, powders, and capsules.
European countries are witnessing a surge in the proliferation of individual and chain pharmacies, with the latter benefiting from advantages in size and scale. This allows chain pharmacies to offer products at competitive prices compared to independent stores. Notable players in this domain include Walmart Stores, CVS Health Corporation, Walgreens Boots Alliances, McKesson Europe, Phoenix Group, and Penta Investments, operating across developed countries.
The COVID-19 pandemic further fueled the demand for pharmaceutical products, expanding the number of drug stores in developed nations.
Product Segmentation and Forecast
- Product Type
- Functional Food & Beverages
- Dietary Supplements
- Ingredients type
- Bacteria
- Yeast
- Age Group
- Adults
- Pediatrics
- Distribution Channels
- Supermarkets & Hypermarkets
- Departmental Stores
- Drug Stores
- Online Stores
- Application
- Digestive Health
- Immune Health
- Metabolic Health
- Others
Vendors List
- Nestle
- Probi
- Danone A/S
- Chr.Hansen Holdings Inc
- Yakult Honsha Co.,Ltd.
- Arla Foods
- International Flavours & Fragrances Inc.
- ADM
- General Mills Inc
- BioGaia
- AB-Biotics
- DuPont
- Lallemand Inc (Lallemand)
- Lifeway Foods Inc
- Kerry Group plc
- Sanzyme Biologics
- Mother Dairy Fruit & Vegetable Pvt Ltd (Mother Dairy)
- Deerland Probiotics & Enzymes
- Sacco System
- Cultech
- Goerlich Pharma
- Winclove Probiotics
- China-Biotics Inc.
- COSMAX NBT, Inc.
- PepsiCo
- Morinaga Milk Industry Co., Ltd
- AllergoSan USA, LLC
- Teva Pharmaceuticals
- Novozymes
- Wren Laboratories
- PanTheryx
- DSM-Firmenich
- 33 Sanofi
Key Questions Answered in the Report:
What factors are driving the global probiotics market?
What is the projected value of the global probiotics market by 2029?
Which segment leads the product type category in the probiotics market?
Which regions are significant players in the probiotics market?
Table of Content
CHAPTER – 1: Probiotics Market Overview
- Executive Summary
- Key Findings
CHAPTER – 2: Probiotics Market
- GLOBAL: Projected Revenue of Probiotics Market (2023-2029; $Billions)
CHAPTER – 3: Probiotics Market Segmentation Data
- GLOBAL: Projected Revenue by Product type (2023-2029; $Billions)
- Functional Food & Beverages
- Dietary Supplements
- GLOBAL: Projected Revenue by Ingredients (2023-2029; $Billions)
- Bacteria
- Yeast
- GLOBAL: Projected Revenue by Age Group (2023-2029; $Billions)
- Adults
- Pediatrics
- GLOBAL: Projected Revenue by Distribution Channel (2023-2029; $Billions)
- Supermarkets & Hypermarkets
- Departmental Stores
- Drug Stores
- Online Stores
- GLOBAL: Projected Revenue by Application (2023-2029; $Billions)
- Digestive Health
- Immune Health
- Metabolic Health
- Others
CHAPTER – 4: Key Regions Overview
- North America: Projected Revenue of Probiotics Market (2023-2029; $Billions)
- Projected Revenue of Probiotics Market in US
- Projected Revenue of Probiotics Market in Canada
- Europe: Projected Revenue of Probiotics Market (2023-2029; $Billions)
- Projected Revenue of Probiotics Market in Germany
- Projected Revenue of Probiotics Market in France
- Projected Revenue of Probiotics Market in UK
- Projected Revenue of Probiotics Market in Italy
- Projected Revenue of Probiotics Market in Spain
- APAC: Projected Revenue of Probiotics Market (2023-2029; $Billions)
- Projected Revenue of Probiotics Market in China
- Projected Revenue of Probiotics Market in Japan
- Projected Revenue of Probiotics Market in India
- Latin America: Projected Revenue of Probiotics Market (2023-2029; $Billions)
- Projected Revenue of Probiotics Market in Brazil
- Projected Revenue of Probiotics Market in Mexico
- Projected Revenue of Probiotics Market in Argentina
- Middle East & Africa: Projected Revenue of Probiotics Market (2023-2029; $Billions)
- Projected Revenue of Probiotics Market in Turkey
- Projected Revenue of Probiotics Market in Saudi Arabia
- Projected Revenue of Probiotics Market in South Africa
CHAPTER – 5: Probiotics Market Prospects & Opportunities
- Probiotics Market Opportunities & Trends
- Probiotics Market Drivers
- Probiotics Market Constraints
CHAPTER – 6: Probiotics Industry Overview
- Probiotics Market – Competitive Landscape
- Probiotics Market – Key Vendor Profiles
- Probiotics Market – Other Prominent Vendors
- Probiotics Market – Key Strategic Recommendations
CHAPTER – 7: Appendix
- Research Methodology
- Abbreviations
- About Arizton
About Focused Reports by Arizton
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