by Probiotics are live bacteria and yeasts that are good for intestinal microbial balance. Consumption of probiotic supplements helps boost digestive and immune health. Probiotic foods and beverages promote gut health. The rising prevalence of lifestyle diseases has driven awareness of preventive healthcare and the role of gut health. This has boosted demand for probiotic supplements and functional foods.
The global Probiotics Market is estimated to be valued at US$ 63.79 Bn in 2023 and is expected to exhibit a CAGR of 6.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The growth trajectory of the probiotics market continues to be driven by increasing awareness about preventive healthcare and gut health. Research studies highlighting the role of gut microbiota in overall health and disease risk have helped gain consumer interest in probiotic products. This is encouraging continued product innovation, especially formulation of probiotic strains tailored for specific health benefits. Manufacturers are focusing on developing therapies targeting various chronic diseases using proprietary probiotic blends. Such initiatives are expected to support the ongoing expansion of the probiotics industry during the forecast period.
Segment Analysis
The global probiotics market is dominated by probiotic supplements sub-segment. Probiotic supplements accounted for the largest market share in terms of revenue in 2021. Probiotic supplements are available in capsule, tablet, powder form and easy to consume which makes it a ideal probiotic product for human consumption leading to large consumer acceptance and high demand.
Key Takeaways
The Global Probiotics Market Demand is expected to witness high growth. The global Probiotics Market is estimated to be valued at US$ 63.79 Bn in 2023 and is expected to exhibit a CAGR of 6.4% over the forecast period 2023 to 2030.
Regional analysis related content comprises The North American region dominates the global probiotics market and is expected to maintain its dominance during the forecast period 2023-2030. This is due to higher health awareness among consumers and growing demand for preventive healthcare in the region.
Key players related content comprises Key players operating in the probiotics market are F. Hoffmann-La Roche AG, Bio-Rad Laboratories, Inc., Thermo Fisher Scientific Inc., Agilent Technologies, Inc., Danaher Corporation, Qiagen N.V., PerkinElmer, Inc., Illumina, Inc. and Merck KGaA.
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Source: Coherent Market Insights, Public sources, Desk research
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