Redding, California, March 17, 2021 (GLOBE NEWSWIRE) -- According to a new market research report titled ‘Probiotics Market by Strain (Bacteria {Bacillus}), Product Type (Dairy Food {Yogurt, Baked Food}), Form (Dry, Liquid), Sales Channel (Super Markets, Pharmacies), End User (Human {Adults, Seniors}, Animal), and Geography - Global Forecast to 2027,’ published by Meticulous Research®, the probiotics market is expected to reach $75.9 billion by 2027, at a CAGR of 5.6% from 2020.
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New areas are becoming increasingly attractive outside classic probiotic applications, primarily vaginal and urinary tract disorders, due to the growing interest in treatments without antibiotics. Lactobacillus bacterial strains help to improve vaginal health. Also, major players in the market are launching products in this area. For instance, in June 2019, DuPont Nutrition & Biosciences launched an innovative formula HOWARU Protect Prenatal+ to deliver mood, vaginal, and immune health benefits for women during pregnancy. Thus, the growing scientific research related to probiotics and an increase in their applications across various health areas, such as vaginal health, urinary tract disorders, and mental disorders, are expected to boost the demand for probiotics in the coming years. Besides, UAS Labs LLC conducted a study to evaluate the effect of Lactobacillus on lactose intolerance. According to the study, Lactobacillus acidophilus showed a reduction in the overall symptoms of lactose intolerance. In addition, growing consumer awareness regarding the health benefits of probiotic foods, the increasing use of probiotics as an alternative to antibiotics, the growing use of probiotics in infant feeding, and growth in e-commerce are some of the major factors expected to create lucrative opportunities for players operating in this market. However, stringent regulations related to probiotics are expected to hinder this market's development to some extent.
The probiotics market is primarily segmented based on strain, product type, form, sales channels, end user, and geography. The study also evaluates industry competitors and analyzes the market at the country level.
The Impact of COVID-19 on the Probiotics Market
The outbreak of COVID-19 has had a significant impact on public health and all stages of various industries' supply chains. Since the COVID-19 outbreak in December 2019, the disease has spread to almost 100 countries worldwide, with the World Health Organization declaring it a public health emergency.
The probiotics market is experiencing a positive impact mainly due to the key role of probiotics in strengthening the immune system. The benefits of probiotics, in particular, were hailed as an effective supplementary method for tackling the virus. For instance, probiotic products have been selling well in Japan during the COVID-19 pandemic. According to Yakult Honsha, year-on-year sales of Yakult branded probiotic products increased by 11.5% in March and 10.3% in April 2020. Also, Probi and Danone registered growth in the sales of their probiotic products amid COVID-19 disruptions. Meiji Holdings announced that the sales of its dairy products, including yogurt, grew between February and April 2020, with a year-on-year growth rate of 7.4% registered in March 2020. Functional probiotic yogurt products are also selling well. Thus, the positive impact of the COVID-19 pandemic is expected to boost the growth of this market.
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Key Findings in the Probiotics Market Study:
Based on strain, the probiotics market is mainly segmented into bacteria and yeast products. The yeast segment is expected to register the highest CAGR during the forecast period. The rapid growth of this segment is mainly attributed to factors such as the ban on the usage of antibiotics in animal feed in several European and North American countries; increasing product innovations in the form of chocolates, biscuits, and other products; increasing demand for yeast-based medicines due to their capacity to reduce the risk of chronic diseases, such as diarrhea and bowel diseases related to antibiotic use; and the growing inclusion of fermented foods in people’s daily diets. However, the bacteria segment commanded the largest share of the probiotics market in 2020.
Based on product type, the probiotics market is mainly segmented into functional foods & beverages, medical & dietary supplements, and animal feed. In 2020, the functional food & beverages segment accounted for the largest share of the probiotics market. The segment’s large share can be attributed to the growing consumer interest in functional foods, particularly probiotics that can support digestive health; the rising health and wellness trends; and the growing usage of probiotics in yogurt, which is currently considered the most popular source of probiotics. However, the medical & dietary supplements segment is expected to record the highest CAGR during the forecast period.
Based on the form, the probiotics market is mainly divided into liquid and dry forms. The dry segment is expected to register the highest CAGR during the forecast period. The rapid growth of this segment is mainly attributed to the dry probiotics’ convenience over liquid probiotics due to their longer shelf life. Besides, solid probiotics allow for easier handling, transport, and use, are relatively inexpensive, and can help avoid costly formulation mistakes and maintain ingredient functionality until utilized. These factors are further driving the demand for dry probiotics. However, in 2020, the liquid segment commanded the largest share of the probiotics market.
Based on sales channel, the probiotics market is segmented into offline sales and online sales. In 2020, the offline sales segment accounted for the largest share of the probiotics market. The segment’s large share is mainly attributed to the increasing per capita disposable incomes, rising adoption of healthy eating habits, and growing urban populations. Besides, a rise in the number of pharmacies globally and the growing probiotic supplements industry in the U.S. and across the globe are expected to offer significant opportunities for vendors engaged in the offline sales of probiotics. However, the online sales segment is expected to record the highest CAGR during the forecast period.
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Based on end user, the probiotics market is segmented into humans and animals. The animal segment is expected to record the highest CAGR during the forecast period. The animal probiotics segment has witnessed significant growth due to the growing pressure to reduce antibiotic use in animal feed. Further, the growing awareness among pet owners, cattle farmers, and hobbyists regarding the advantages of probiotics for animal health is expected to create significant opportunities for players operating in the animal probiotics segment. However, in 2020, the human segment commanded the largest share of the probiotics market.
Geographically, the probiotics market in Asia-Pacific is expected to register the highest CAGR during the forecast period. The rapid growth of the Asia-Pacific probiotics market is attributed to increased consumer awareness regarding the relationship between digestive health, immunity, and overall wellness, the growing diabetic and overweight populations in Asia-Pacific, and innovations in probiotics formulations. Moreover, the increasing consumer awareness regarding probiotics and growing developments related to probiotics in China further contribute to this market’s growth.
The key players operating in the global probiotics market are Probi AB (Sweden), BioGaia AB (Sweden), Nestlé S.A. (Switzerland), Chr. Hasen Holding A/S (Denmark), Danone S.A. (France), Yakult Honsha Co., Ltd. (Japan), Lallemand Inc. (Canada), Lifeway Foods Inc. (U.S.), Dupont de Nemours, Inc. (U.S.), Kerry Group plc (Ireland), Archer Daniels Midland Co. (U.S.), Deerland Probiotics & Enzymes Inc. (U.S.), KeVita, Inc. (a part of PepsiCo Inc.) (U.S.), Evolve BioSystems (U.S.), Cell Biotech Co., Ltd. (Korea), and Probiotical S.p.A. (Italy) among others.
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Scope of the Report:
Probiotics Market, by Strain
- Bacteria Strain Products
- Multi-bacterial Strain Products
- Lactobacillus Strain Products
- Bifidobacterium Strain Products
- Streptococcus Thermophilus Strain Products
- Bacillus Strain Products
- Other Bacterial Strain Products
- Yeast Strain Products
Probiotics Market, by Product Type
- Functional Foods & Beverages
- Dairy-based
- Yogurt
- Cheese
- Kefir
- Probiotic Milk
- Other Dairy-based Products
- Non-dairy-based
- Non-dairy Yogurt
- Non-dairy Kefir
- Fruit and Vegetable Juices
- Baked Foods
- Other Non-dairy-based Products
- Dairy-based
- Medical & Dietary Supplements
- Nutritional Supplements
- Specialty Nutrients
- Infant Formulas
- Animal Feed
Probiotics Market, by Form
- Liquid
- Dry
- Capsules & Tablets
- Powders
- Semi-solid & Gels
- Stick Packs
Probiotics Market, by Sales Channel
- Offline Sales
- Health Food Stores
- Pharmacies
- Super Markets
- Online Sales
Probiotics Market, by End User
- Human
- Adults (18–65 Years)
- Seniors (Above 65 Years)
- Children & Adolescents (<18 Years)
- Animal
- Poultry
- Swine
- Ruminants
- Aquaculture
- Pets
- Others
Probiotics Market, by Geography
- North America
- U.S.
- Canada
- Europe
- France
- Germany
- U.K.
- Italy
- Spain
- Russia
- Rest of Europe
- Asia-Pacific (APAC)
- China
- Japan
- South Korea
- Australia
- India
- Rest of The Asia-Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
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