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Probiotics Market Dynamics: Growth Trends, Challenges, and Future Outlook to 2031
Meticulous Research®, a leading global market research company, has released a new report titled “Probiotics Market Size, Share, Forecast, & Trends Analysis by Strain (Bacillus), Product Type (Dairy, Baked Food, Animal Feed), Form (Liquid), Sales Channel (Supermarkets), End User (Human, Animal) - Global Forecast to 2031.”According to the report, the probiotics market is projected to reach $100.10 billion by 2031, growing at a CAGR of 6.7% from 2024 to 2031. The market’s growth is driven by increasing consumer awareness about the health benefits of probiotic foods, the use of probiotics as an alternative to antibiotics, and ongoing advancements in probiotic research. However, stringent regulatory frameworks may pose challenges to market expansion. Opportunities for growth are expected to arise from the use of probiotics in infant nutrition and the rise of e-commerce.
Key Players
Major players in the probiotics market include Probi AB (Sweden), BioGaia AB (Sweden), Nestlé S.A. (Switzerland), Novonesis Group (Denmark), Danone S.A. (France), Yakult Honsha Co., Ltd. (Japan), Lallemand Inc. (Canada), Lifeway Foods Inc. (U.S.), International Flavors & Fragrances Inc. (U.S.), Kerry Group plc (Ireland), Archer-Daniels-Midland Company (U.S.), KeVita, Inc. (part of PepsiCo Inc.) (U.S.), Infinant Health Inc. (U.S.), Cell Biotech Co., Ltd. (Korea), and Probiotical S.p.A. (Italy).
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Market Insights
- By Strain: The market is segmented into bacteria strain products and yeast strain products. In 2024, bacteria strain products are expected to dominate with 86.4% of the market share. This is due to the widespread use of bacteria strains in various dairy products and the rising prevalence of gastrointestinal disorders.
- By Product Type: The market includes functional food & beverages, medical & dietary supplements, and animal feed. The medical & dietary supplements segment is projected to grow at the highest CAGR of 9.2% during the forecast period, driven by the increasing prevalence of gut-related diseases and greater awareness of supplement benefits.
- By Form: The market is divided into liquid and dry probiotics. In 2024, the liquid probiotics segment is anticipated to hold the larger share of 60.0%, attributed to their versatility and popularity among infants, older adults, and individuals with swallowing difficulties. However, the need for refrigeration may limit segment growth.
- By Sales Channel: The market is segmented into offline and online sales. Online sales are expected to grow at a higher CAGR of 10.0% due to the increasing preference for online shopping, which offers convenience, personalized options, and competitive pricing.
- By End User: The market includes human and animal segments. In 2024, the human segment is forecasted to account for the largest share of 93.3%. The expansion of human-grade probiotic products and their benefits for digestive health contribute to the large share of this segment.
Quick Buy – Probiotics Market – Global Opportunity Analysis and Industry Forecast (2024-2031), Research Report: https://www.meticulousresearch.com/Checkout/62666884
- By Region: The probiotics market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2024, Asia-Pacific is expected to hold the largest market share of 45.6%, with an estimated value of $29.0 billion. This dominance is driven by increased adoption of non-dairy probiotic foods, a growing consumer interest in probiotic supplements, and the presence of numerous companies in the region’s digestive health market.
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