The global probiotics market is
estimated to be valued at US$ 58.9 billion in 2022 and is expected to exhibit a
CAGR of 8.3% over the forecast period (2023-2030), as highlighted in a new
report published by Coherent Market Insights.
A) Market Overview:
Probiotics are live bacteria and yeast that are beneficial for human health,
especially for digestion and the immune system. These microorganisms are
available in certain foods and supplements, and have gained immense popularity
due to their potential health benefits. Probiotic products, such as yogurt,
kefir, and kombucha, have become increasingly popular as consumers become more
aware of the importance of maintaining a healthy gut microbiome. Probiotics
help restore the natural balance of bacteria in the gut, aiding in digestion,
boosting the immune system, and promoting overall well-being.
B) Market key trends:
One key trend in the global Probiotics
Market is the increasing consumer awareness about gut health. Research
has shown that a healthy gut microbiome is essential for maintaining overall
health and well-being. Rising health consciousness among consumers and the
growing prevalence of gastrointestinal disorders have led to an increased
demand for probiotic products. Furthermore, with the COVID-19 pandemic
highlighting the significance of a strong immune system, there has been a surge
in demand for products that support immune health, such as probiotics. For
instance, companies like BioGaia AB and Lifeway Foods, Inc. have witnessed a
significant increase in sales of their probiotic products during the pandemic.
C) PEST Analysis:
Political: Governments worldwide are increasingly promoting the
consumption of probiotics through awareness campaigns and initiatives. For
example, the Japanese government has designated June 1st as "Lactic Acid
Bacteria Day" to promote the benefits of probiotics. This political
support is expected to drive the growth of the probiotics market.
Economic: Rising disposable incomes and increasing purchasing power of
consumers in developing countries have contributed to the growth of the
probiotics market. Probiotic products are often premium-priced, and consumers
are willing to spend more on health and wellness products.
Social: Changing consumer lifestyles and dietary preferences, along with
a growing focus on preventive healthcare, have fueled the demand for probiotic
products. Moreover, the influence of social media and word-of-mouth
recommendations has also played a significant role in driving consumer
awareness about probiotics.
Technological: Advancements in probiotic technology, such as
microencapsulation and strain-specific probiotics, have improved product
stability and efficacy. This has led to the development of a wide range of
probiotic products, including supplements, functional foods, and beverages.
D) Key Takeaways:
1. The global probiotics market is expected to witness high
growth, exhibiting a CAGR of 8.3% over the forecast period, due to increasing
consumer awareness about gut health. The growing prevalence of gastrointestinal
disorders and the demand for immune health support have further fueled the
market growth.
2. The Asia-Pacific region is expected to be the
fastest-growing and dominating region in the global probiotics market.
Increasing health consciousness, a large population base, and a rich tradition
of fermented foods in countries like China and Japan have contributed to the
high demand for probiotic products in this region.
3. Key players operating in the global probiotics market
include BioGaia AB, Chr. Hansen, Groupe Danone S.A., Nestle S.A., PROBI AB,
Lifeway Foods, Inc., Mother Dairy, General Mills, Inc., China-Biotics, Inc.,
Yakult Honsha Co., Ltd., and E. I. du Pont de Nemours and Company. These
companies are focusing on product innovation, strategic partnerships, and
mergers and acquisitions to strengthen their market presence and gain a
competitive edge.
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