Hyderabad, July 26, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled “Probiotics Market Report (2023-2028),” the market is estimated at USD 73.37 billion in 2023. It is expected to register a CAGR of 7.53% during the forecast period.
Probiotics have been offered for decades, steered by strain-specific health benefits. As per the International Scientific Association for Probiotics and Prebiotics, scientific researches on probiotic strains reveal health benefits in reducing necrotizing enterocolitis in preterm infants, reducing the occurrence of atopic issues such as eczema in infants and colic symptoms in breastfed babies, and lowering the risk or duration of upper respiratory tract infections or gut infections.
Report Summary:
| Report Attribute | Details |
| Market Size (2023) | USD 73.37 billion |
| Market Size (2028) | USD 105.48 billion |
| CAGR (2023-2028) | 7.53% |
| Study Period | 2018-2028 |
| Forecast Units | Value (USD billion) |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Asia-Pacific |
| Report Scope | Market Dynamics, Revenue Forecast and Segmentation, Competitive Landscape, and Recent Developments, Market Growth, Future Opportunities, and Trends |
| Key Market Drivers | Strain-specific health benefits of probiotics. |
| The increase in the consumption of functional foods. |
Who are the Top Companies in the Probiotics Market?
The global probiotics market is highly competitive, with key players holding the market.
The noteworthy players holding the global probiotics market are:
- PepsiCo Inc.
- Nestle SA
- Danone SA
- Yakult Honsha Co. Ltd
- Now Foods
- BioGaia
- Reckitt Benckiser LLC
- Morinaga Milk Industry Co. Ltd
- Amway Corp.
- Lifeway Foods Inc.
Other Reports That Might Be of Your Interest:
- Europe Probiotics Market Report - The European probiotics market size is expected to grow from USD 13.31 billion in 2023 to USD 15.80 billion by 2028, at a CAGR of 3.49% during the forecast period (2023-2028).
- United States Feed Probiotics Market Report - The United States feed probiotics market size is expected to grow from USD 568.11 million in 2023 to USD 835.12 million by 2028, at a CAGR of 8.01% during the forecast period (2023-2028).
Key Highlights from the Probiotics Market Report:
Rising Health Awareness Promoting Demand
- The mounting consumer awareness of gut health is anticipated to propel probiotic demand. Key players have been actively offered probiotic food, drinks, and supplements, as maintaining a healthy gut is important to consumers.
- An intensified number of consumers are accepting the role of gut health in physical health, weight management, and maintaining energy levels, which is likely to boost probiotic demand in the coming years. The developing awareness about nutrition's impact on health and towering proclivity toward healthier diets triggers the production and commercialization of food with certain health claims by manufacturers.
APAC Region Anticipated to Dominate the Market
- Probiotics are crucial in treating digestive, gastrointestinal, and bowel problems related to the gut. Probiotic supplements that better health while providing essential nutrition are becoming more popular as people become more aware of the connection between diet and health. Probiotic capsules are a dominant segment in the market.
- The other segments, including gummies, oral sticks, and melts, are projected to expand during the forecast period despite capsules’ dominance. The Asia-Pacific probiotics market is steered by mounting awareness and interest in new technology, media coverage, and consumer demand.
What are the Latest Developments in the Probiotics Market?
- In January 2023, KeVita expanded its line of Sparkling Probiotic Lemonade by adding mango flavor to the existing range of classic and peach probiotic lemonade.
- In September 2022, Nestle Garden of Life opened its first probiotic product in China. In the baby food category, baby cereal accounts for a major share of the segment, led by increasing innovations in the segment.
Mordor Intelligence has Segmented the Probiotics Market Based on Type, Distribution Channel, and Geography:
- By Type
- Probiotics Food
- Yogurt
- Bakery/Breakfast Cereals
- Baby Food and Infant Formula
- Other Probiotic Foods
- Probiotics Drinks
- Fruit-based Probiotic Drinks
- Dairy-based Probiotic Drinks
- Dietary Supplements
- Animal Feeds/Foods
- By Distribution Channel
- Supermarkets/Hypermarkets
- Pharmacies and Health Stores
- Convenience Stores
- Online Retail Stores
- Other Distribution Channels
- By Geography
- North America
- United States
- Canada
- Mexico
- Rest of North America
- Europe
- United Kingdom
- Spain
- Germany
- France
- Italy
- Russia
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- Australia
- Rest of Asia-Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- South Africa
- Saudi Arabia
- Rest of Middle East & Africa
- North America
In a nutshell, the Mordor Intelligence market research report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the Probiotics Market Report (2023-2028).
Mordor Intelligence constantly tracks industry trends. Some relevant market reports from the analysts that might be of interest to you:
- China Feed Probiotics Market Report - The Chinese feed probiotics market size is expected to grow from USD 596.45 million in 2023 to USD 838.11 million by 2028, at a CAGR of 7.04% during the forecast period (2023-2028).
- India Feed Probiotics Market Report – The Indian feed probiotics market size is expected to grow from USD 134.00 million in 2023 to USD 196.98 million by 2028 at a CAGR of 8.01% during the forecast period (2023-2028).
- North America Probiotic Products Market Report - During the time frame of the forecast, the North American probiotic products market is expected to register a CAGR of 6.3%.
About Mordor Intelligence:
Mordor Intelligence is a market intelligence and advisory firm. At Mordor Intelligence, we believe in predicting butterfly effects that have the potential to change or significantly impact market dynamics.
Our market research reports are comprehensive and provide exclusive data, facts and figures, trends, and the industry’s competitive landscape.
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