Cibi e Bevande
Probiotics Market Size Worth $111.21 Billion By 2030 | CAGR: 7.5%: Grand View Research, Inc.
Following the growing demand for probiotics, key market participants have been investing in R&D activities to develop efficient probiotic strains. The probiotics industry has also witnessed advancements in delivery systems to enhance the delivery of probiotics in humans and animals Such developments are expected to emerge as a trend in the industry over the forecast period. In developed countries such as the U.S., probiotics are sold mainly in the form of dietary supplements. The demand for probiotic nutritional supplements has been spurred by the growing aging population and increased consumer interest in preventive healthcare.
Market players have introduced new products supplemented with probiotics in addition to other dietary supplements. Probiotic supplements containing different probiotic strains are available in various forms such as probiotic drops, tablets, and capsules. Manufacturers of private label and branded products are likely to continue to extend their product lines in the probiotic product categories. The growing product lines and diversification in the same are intended to make manufacturers capable of catering to diverse demand trends across the globe. The same factor is prompting retail channels to increase their production volume in accordance with changing consumer tastes and preferences. Such trends are expected to benefit the growth of the market.
Asia Pacific dominated the probiotics industry in 2021 with a share of over 40.0%. The region is expected to retain its prominent position throughout the forecast period. In the last decade, the region has garnered a significant response when it comes to the adoption of probiotics. This is attributed to the high health consciousness, coupled with the wider accessibility of probiotic products in this region. Another key observation in Asia Pacific with regard to the consumption of probiotics is the growing popularity of vegetarian probiotic products owing to a healthy increase in consumer vegetarianism.
The Asia Pacific market has witnessed new launches/product innovations by prominent market participants over the years. For instance, in February 2018 , Yakult Danone introduced signature probiotic drinks in a new version in India . The product contained new formulations including Vitamin D & E along with Lactobacillus casei strain Shirota (LcS). Such developments are expected to surge in the region over the forecast period owing to the presence of a large consumer base.
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Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco , the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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