Global Probiotics Market Size, Share, Growth Analysis, By Product, By Ingredient, By End-use, By Distribution Channel - Industry Forecast 2024-2031

Global probiotics market size was valued at around USD 62.53 billion in 2022 and is expected to rise from USD 67.22 billion in 2023 to reach a value of USD 119.88 billion by 2031, at a CAGR of 7.5 % over the forecast period (2024-2031).

The growth of the global probiotics market is being fueled by an increasing preference among consumers for preventive healthcare, as well as the development of effective probiotic strains. Probiotics, when consumed in adequate amounts, offer various health benefits such as improved gut health and reduced intestinal inflammation. They play a crucial role in preventive healthcare by enhancing the immune system and preventing the onset of diseases. Consequently, the market is expected to witness significant growth in the foreseeable future due to rising awareness of preventive healthcare. Preventive healthcare entails adopting a healthy lifestyle and making dietary choices that help prevent the occurrence of diseases. Factors contributing to the growing awareness of preventive healthcare include rising disposable incomes, improving living standards, and an aging population. Furthermore, the availability of information about preventive healthcare on the internet has also played a significant role in raising awareness. In the United States, the probiotics market is characterized by products targeting various demographic groups such as the elderly and different genders. This segmentation has enabled local players to employ diverse strategies to expand their product offerings and maximize available resources. In the coming years, the demand for probiotic-based food, beverages, and dietary supplements is expected to drive the market growth in the U.S. The COVID-19 pandemic has led to a surge in consumer demand for immune-boosting foods and supplements, including probiotics. Probiotics are known for their ability to strengthen the immune system by providing defense against gastrointestinal infections and promoting the production of natural antibodies. A survey conducted by the Natural Marketing Institute in May 2020 revealed a significant increase in the usage of probiotics. The study reported a 66% increase in probiotic usage among Americans, a 188% increase among new users in Italy, and a 108% increase among users in China over the preceding six months. This sudden rise in probiotic users greatly contributed to market growth in 2020.

Top-down and bottom-up approaches were used to estimate and validate the size of the global probiotics market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Global Probiotics Market Segmental Analysis

The global probiotics market is segmented based on product, ingredient, end-use, distribution channel, and region. By Product the market is segmented into probiotic food & beverages, probiotic dietary supplements, and animal feed probiotics. By ingredients, the market is segmented into bacteria, and yeast. By end-use, the market is segmented into human probiotics, and animal probiotics. By distribution channel, the market is classified into hypermarkets/supermarkets, pharmacies/drugstores, specialty stores, online stores, and others. By region the global probiotics market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.

Drivers of the Global Probiotics Market

The probiotics market is experiencing growth driven by a shift towards natural and organic products. Consumers are increasingly opting for products that are devoid of synthetic ingredients and chemicals, contributing to the rising demand for probiotics.

Restraints in the Global Probiotics Market

The probiotics market lacks standardization, which can cause confusion among consumers regarding the efficacy of various products.

Market Trends of the Global Probiotics Market

The demand for probiotic supplements is on the rise as consumers prioritize their health and seek ways to improve digestion, strengthen their immune system, and enhance overall well-being.