Probiotics are live microorganisms that provide health benefits when consumed. Probiotics are commonly found in dietary supplements and fermented foods like yogurt, kefir, tempeh, kimchi, kombucha, and others. They work by balancing the gut microbiome and stabilizing the gut flora. Probiotics are known to support digestive health and immunity. Common probiotic bacteria strains used in food and supplements include Lactobacillus, Bifidobacterium, Streptococcus thermophilus, Lactococcus lactis, and Saccharomyces boulardii. The global probiotics market involves production and sales of probiotic supplements, food, and beverages. The market is driven by the growing awareness of gut health and its link to overall wellness. Probiotics promote gut health, regulate bowel movements, produce vitamins, prevent diarrhea and yeast infections, and boost immunity.

The global Probiotics Market is estimated to be valued at Us$ 63.79 Bn in 2023 and is expected to exhibit a CAGR Of 26% over the forecast period 2023 To 2030, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:

One of the key drivers for the growth of the probiotics market is the growing importance of gut health and overall well-being. There is substantial research that links the gut microbiome to several bodily functions ranging from metabolism and weight regulation to immunity and mental health. Probiotics are seen as a natural way to balance the gut flora and promote overall health. This is driving greater consumer demand for probiotic supplements and probiotic-fortified foods. The food and beverage industry is innovating new product lines of yogurt, kefir, bread, and other items with added probiotic strains. Fermented foods especially have gained popularity as a health trend. The market is also driven by easy availability of probiotic products across retailers, pharmacies, online stores and e-commerce websites. The increasing health-conscious consumer base and expanding retail channels support the growth of the probiotic market.

Segment Analysis

The global probiotics market is dominated by the human segment. With growing health and wellness trends, consumers are increasingly adopting probiotic supplements to improve their gut and overall health. The human segment accounted for nearly 70% of the total probiotics market share in 2023 owing to the wide range of probiotic products available in the form of dietary supplements, functional food and beverages for human consumption.

PEST Analysis

Political: The growth of the probiotics market is positively impacted by supportive government policies and regulations regarding the use of probiotics. Many countries have recognized probiotics as ingredients that provide health benefits.

Economic: The rising disposable income of consumers has increased their spending on health, wellness and functional food products. This favors the demand for high-value probiotics supplements and foods.

Social: Growing health awareness among people about maintaining gut health and strengthening immunity has boosted the adoption of probiotic products in recent years. The social media influence has also promoted probiotic benefits.

Technological: Companies are investing in R&D to develop new delivery forms and strains of probiotics. Some key areas include cold-pressed and freezer-dried formats, vegetarian capsules, and novel probiotic strains aimed at specific health conditions.

Key Takeaways

The Global Probiotics Market Demand  is expected to witness high growth at a CAGR of 26% during the forecast period of 2023 to 2030. The market size is projected to reach US$ 252.36 Bn by 2030 from US$ 63.79 Bn in 2023.

Regional analysis:

North America accounts for the largest share in the global probiotics market attributed to growing gut health concerns. Europe is another major region owing to increasing consumer preference for probiotic supplemented food and beverages. The Asia Pacific probiotics market is expected to grow at the fastest pace during the forecast period lead by countries like China, India and Japan.

Key players operating in the probiotics market are Google LLC. (the U.S.), Microsoft Corporation (U.S.), DAQRI (U.S.), Mindmaze (Switzerland), Wikitude GmbH (Austria), Medical Realities (U.K.), Atheer (U.S.), Augmedix (U.S.), Oculus V.R. (U.S.), CAE Healthcare (U.S.), and Others.

Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it