Probiotics Market to Hit $102.1 Billion by 2029

"Probiotics Market Expansion Linked to Rising Demand for Preventive Healthcare and Increased Consumer Awareness of Digestive Health"

, /PRNewswire/ -- According to the latest study from BCC Research, "Probiotics in Food, Beverages, Dietary Supplements, and Animal Feed" is expected to grow from $69.8 billion in 2024 to $102.1 billion by the end of 2029 at a compound annual growth rate (CAGR) of 7.9% during the forecast period of 2024 to 2029.

The probiotics market is segmented by application into food and beverage, dietary supplements, animal feed, and others. It is further segmented by genus into Lactobacillus, Bifidobacterium, Streptococcus, Bacillus, and others, and by function into regular and therapy. The end-user market includes probiotics for humans and animals, while sales channels cover hypermarkets and supermarkets, pharmacies, online, specialty stores, and others. Regional estimates and forecasts include North America, Asia-Pacific, Europe, South America, the Middle East and Africa.

The report is particularly relevant right now due to the rising demand for natural dietary supplements in the post-pandemic era. Increasing gastrointestinal diseases and greater awareness of probiotic benefits are driving demand. Growing health consciousness has heightened interest in fortified and functional foods. Technological advances and innovative new products are accelerating market development. This report analyzes the key trends and industry shifts influencing the market.

The factors driving the market include:

Demand for Dietary Supplements: People are increasingly health-conscious, seeking supplements such as probiotics to boost their overall health, immune function, and digestion.

Prevalence of Digestive Disorders: More people are experiencing digestive issues due to modern lifestyles. Probiotics help maintain gut health, relieving conditions such as IBS and IBD.

Growing Animal Feed Industry: The demand for quality animal products is rising. Probiotics in animal feed improve livestock health and productivity, reducing the need for antibiotics.

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Report Synopsis

Interesting facts:

• The dietary supplement market is growing steadily, mainly due to the rise of e-commerce and retail chains, which make it easier for consumers to access and purchase products.
• The ease of access to dietary supplements drives the demand for probiotics. The growing interest in preventive healthcare products contributes to the market's growth.

Emerging startups

MicrobioTx: This India based startup, founded by Dr. Palok Aich in Bangalore, specializes in hyper-personalized probiotic solutions to restore individual gut health. It formulates customized probiotics for each user, developed by gut microbiome scientists in the lab. These tailored probiotic strains are selected from over 25 FSSAI-approved, science-backed strains and incorporated into capsules specifically designed for each individual.

The report addresses the following questions:

1.      What is the probiotics market's projected growth rate and size?
•         The estimated market size of the probiotics in food, beverages, dietary supplements and animal feed market will be $102.1 billion by the end of 2029, with a CAGR of 7.9%.

2.      Which segments are covered in the report?
•         The probiotics market is segmented by application into food and beverages, animal feed, dietary supplements, and others. Based on end-use, the market is segmented into animal and human. Based on function, the market is segmented into therapy and regular. Regional estimates and forecasts include North America, Europe, Asia-Pacific, Latin America, the Middle East and Africa.

3.      Which end-use segment will be dominant over the forecast period?
•         The human segment will be dominant throughout the forecast period.

4.      Which region has the largest market share?
•         Asia Pacific holds the largest market share, driven by the growing demand for digestive health products and increasing demand for preventive care products.

Market leaders include:

• ADM
• Chr. Hansen A/S, Part of Novonesis
• Danone S.A.
• DSM-Firmenich
• Herbalife International of America Inc.
• International Flavors & Fragrances Inc.
• Kerry Group Plc
• Nestle
• Novozymes A/S
• Probi
• Yakult Honsha Co. Ltd.

Related reports include:

Compound Feeds and Additives: Global Markets: This report analyzes the market for compound feeds and additives from 2024 to 2029. It examines the market shares of leading companies. It segments the market based on livestock types (such as poultry, swine, ruminants, and aquaculture), forms (including mash, pellet, and crumbles), and types of ingredients (cereal ingredients, cakes and meals, milling by-products, and supplements).

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SOURCE BCC Research LLC