USD 58.17 billion
Report ID: SQSG30I2045 | Region: Global | Published Date: November, 2022 | Pages: 265 | Tables: 69 | Figures: 75
Probiotics In Human Nutrition Market size was valued at USD 58.17 billion in 2021 and is poised to grow from USD 62.53 billion in 2022 to USD 119.89 billion by 2030, growing at a CAGR of 7.5% in the forecast period (2023-2030).
In terms of volume, the probiotics in human nutrition market is projected to reach 3.1 million tons in 2028 at a CAGR of 9.7%. The industry is gaining traction, thanks to rising demand for Probiotics derived from natural sources. During the forecast period, it is expected to expand at the fastest CAGR in the Probiotics market.
The growing importance of preventative healthcare is one of the key factors driving global demand for probiotics. The significant production and use of probiotics is supplemented by probiotic advancements by important companies, most notably in China, Japan, and India. Key market participants have been investing in R&D operations to produce efficient probiotic strains in response to the increased demand for probiotics. The probiotics sector has also seen developments in delivery devices to improve probiotic delivery in people and animals. Over the projected period, such advancements are likely to become a trend in the sector. Probiotics are mostly offered as dietary supplements in affluent nations such as the United States. The expanding ageing population and greater consumer interest in preventative healthcare have fuelled demand for probiotic nutritional supplements.
US Probiotics In Human Nutrition Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 58.17 billion
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The Global Probiotics in Human Nutrition Market is segmented based on Type, Application, and Region. Based on the Type, the Market are segmented as Lactobacillus, Bifidobacterium, Saccharomyces, Streptococcus, Enterococcus, Escherichia, and Bacillus. Based on the Application, the Probiotics in Human Nutrition Market is segmented as Dietary Supplements, Functional Nutrition, Sports Nutrition, and Infant Nutrition. Based on Region Probiotics in Human Nutrition Market is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Probiotics in Human Nutrition Market Analysis by Type
In terms of type, Lactobacillus dominated the global probiotics in human nutrition market in 2021 with 40% market revenue and volume share and is estimated to be the fastest growing segment over the forecast period followed by Bifidobacterium and Streptococcus. Most probiotics are bacterial in nature, with lactobacillus or lactic acid bacteria being the most common. These components are mostly used in fermented foods including yogurt, sauerkraut, kefir, and kimchi. Another important application sector for bacterial components is dietary supplements.
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In 2021, North America will command a revenue share of more than 30% of the worldwide market. Because of the competitive techniques used by multinational firms, the area is seeing a significant increase in consumer awareness. Demand from nations such utilized, China, and Australia is helping to drive overall development. The expanding population, together with rising disposable income and an improved standard of life, is predicted to fuel regional market expansion.
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Probiotics in Human Nutrition Market Driver
Customers are Becoming More Health Concerned
Probiotics in Human Nutrition Market Restraint
R&D Expenses for Creating Novel Probiotic Strains Are High.
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The leading companies dominate the industry due to their extensive worldwide reach and reliable distributed systems. These players concentrate on various business tactics, such as establishing long-term supply agreements with numerous distribution channels, to survive the competition. Due to the availability of a target customer base in the area, significant businesses have increasingly focused on entering the Southeast Asian markets throughout the years.
Probiotics in Human Nutrition Market Top Player's Company Profiles
Probiotics in Human Nutrition Market Recent Developments
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According to our Global Our Market Analysis, Asia Pacific consumers are aware of the advantages probiotics provide for their health. The Japanese brand "Yakult" is quite popular in the area. China and Japan rank among the region's major probiotics markets, while Australia and New Zealand are expanding rapidly. Demand for dietary supplements is anticipated to be high in Japan due to the country's significant elderly population. Additionally, the busy lifestyles of customers are fuelling the expansion of the probiotics industry in the area.
|Market size value in 2021||USD 58.17 billion|
|Market size value in 2030||USD 62.53 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Probiotics In Human Nutrition Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Probiotics In Human Nutrition Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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Product ID: SQSG30I2045