Product ID: SQMIG30I2299
Global Probiotics Market Size, Share, Growth Analysis, By Product(Probiotic Food & Beverages, Probiotic Dietary Supplements), By Ingredient(Bacterial, and Yeast), By End-use(Human Probiotics, and Animal Probiotics), By Distribution Channel(Hypermarkets/Supermarkets, Pharmacies/Drugstores) - Industry Forecast 2024-2031
Report ID:
SQMIG30I2299 |
Region:
Global |
Published Date: April, 2024
Pages:
198
|
Tables:
117 |
Figures:
77
Global Probiotics Market Insights
Global Probiotics Market size was valued at around USD 62.53 billion in 2022 and is expected to rise from USD 67.22 billion in 2023 to reach a value of USD 119.88 billion by 2031, at a CAGR of 7.5% over the forecast period (2024–2031).
The global probiotics market is driven by the rising consumer preference for preventative healthcare along with the creation of effective probiotic strains. Probiotics have positive benefits on the body when ingested in sufficient levels, including better gut health and less intestinal inflammation. Probiotics are very important for preventative healthcare since they boost the immune system and stop diseases before they start. Thus, over the course of the forecast period, increasing awareness of preventive healthcare is anticipated to spur market growth.
Preventive healthcare includes living a healthy lifestyle and making dietary decisions that help stop the development of diseases. Due to a number of causes, including rising disposable money, rising living standards, and an aging population, awareness of preventative healthcare is expanding. Additionally contributing to the rise in awareness is the ease with which internet users can find information about preventative healthcare.
Probiotics targeting various demographics, like geriatrics and genders, are what define the market in the United States. These niche markets have given local players the ability to use a variety of tactics to diversify their product offerings and make the most of their available resources. Over the next few years, the U.S. market is anticipated to be driven by an excessive demand for probiotic-based food, beverage, and dietary supplement products.
The COVID-19 pandemic significantly increased consumer demand for immune-boosting foods and supplements. Probiotics are widely known for their ability to strengthen the immune system since they provide strong defense against gastrointestinal infections and encourage the body's generation of natural antibodies.
According to a survey done by the Natural Marketing Institute in May 2020, usage of probiotics increased dramatically that year. According to the study, the proportion of Americans who use probiotics has climbed by 66%, while the number of new users of probiotics in Italy has increased by 188%, and the proportion of probiotic users in China has increased by 108% over the preceding six months. As a result, the market growth in 2020 was greatly helped by the sudden rise in probiotic users.
US Probiotics Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Probiotics Market Report Snapshots
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