Probiotics Market Insight, Outlook, Forecast 2022-2028

1. Global Probiotics Industry Size, Share, Trend Analysis and Forecast Report, 2022-2028

2. Global Probiotics Market- Industry Trends & Forecast Report 2028 A recent study conducted by the strategic consulting and market research firm, BlueWeave Consulting, revealed that the Global Probiotics Market was worth USD 60.23 billion in the year 2022. It is estimated to grow at a CAGR of 8.7%, earning revenue of around USD 93.49 billion by the end of 2028. The significant growth of the Global Probiotics Market is attributed to urbanization, rapid technological innovation, changing lifestyles, rising consumption of fortified food, expanding Food and Beverage industry, and increasing usage of probiotics in the food industry to reduce the use of antibiotics, to treat various digestive, intestinal disorders, and prevent physical problems. Also, it is widely used in pharmaceuticals and animal feed.

3. Growth Drivers Increasing Concerns about Global Animal Welfare The rising disposable incomes of consumers and the need for immunity booster food such as Probiotic Fortified Food are in high demand in developed countries. Consumers' adoption of Probiotics to maintain the immune system and gut health is expected to drive the growth of the Global Probiotic Market. The changing living standards, rising spending on dietary supplements, and growing personal well-being is the major factor to increase the consumption of natural ingredient products such as probiotics. Due to this, many market players are promoting new plant-based probiotics to meet consumer demand.

4. Restraints  High-Cost in R&D activities to Develop New Probiotic Products The high-cost associated with research and development activities, standard research equipment, investments in laboratories, and high-risk of quality management during the development of new products, as well as the high-cost to hire trained professionals are the major restraining factor for the growth of the Global Probiotic Market. Many innovations are accelerating, and there is a surge in demand for functional and fortified food products incorporated with Probiotics, to meet this demand R&D activities in some countries are facing many challenges owing to the high-cost investments for the new probiotics products development, rapid pace of technological change, economic disruptions, and global competition.

5. Impact of COVID-19 The COVID-19 pandemic impacted both positively and negatively the growth of the Global Probiotics Market. Initially, there was a decline in the growth of the market owing to the complete lockdown that forced the temporary closure of manufacturing processes and disruption in supply chains. However, post COVID-19 pandemic, people are more concerned about the food they are eating due to which there is a surge in demand for nutritional, healthy organic, and fortified food products. Many market Players are promoting various probiotic fortified food products and dietary supplements which result in driving the demand for probiotics, thereby, fueling the growth of the Global Probiotics Market during the forecast period.

6. Regional Insights Geographically, the global probiotics market is segmented into North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), Middle East & Africa (MEA). The Asia-Pacific (APAC) segment accounts to hold the largest share in the market owing to the increasing health awareness, growing aging population, hectic lifestyle, adoption of nutritional value and low-calorie content products, and new product launches in markets of this region are driving the growth of the Global Probiotics Market . Moreover, North America is expected to witness higher growth in the Global Probiotics Market  due to the well-established food industry and the presence of various prominent market players.

7. Competitive Landscape The leading market players in the Global Probiotics Market are Danone S.A. (France), DowDuPont (US), Yakult Honsha (Japan), Lifeway Foods, Inc., and Nestle (Switzerland), Chr. Hansen (Denmark), Probi AB, Ganden, Inc., Protixin, Kerry Inc. (Tralee, Ireland), Pepsico, Inc. (New York, US), Lallemand Inc. (Canada), and other prominent players. Sample Copy of the report: https://www.blueweaveconsulting.com/report/global-probiotics-market/report-sample

8. Recent Development In May 2020, Probi AB signed a long-term R&D collaboration agreement with Competence Centre on Health Technologies (CCHT). It aims at developing novel products based on probiotic lactobacilli strains for women’s health. In April 2020, Chr. Hansen Inc announced the launch of a science-based online probiotic platform in the US market. The new online platform is intended to educate consumers and healthcare professionals about the benefits of probiotics.

9. Key Players Danone S.A. (France), DowDuPont (US), Yakult Honsha (Japan), Lifeway Foods, Inc., Nestle (Switzerland), Chr. Hansen (Denmark), Probi AB, Ganden, Inc., Protixin, Kerry Inc. (Tralee, Ireland), Pepsico, Inc. (New York, US), Lallemand Inc. (Canada), and Other prominent players.

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