According to the latest report published by Variant Market Research, the global probiotics market is estimated to reach $136.5 Billion by 2024, from $71.9 Billion in 2016, at a CAGR of 8.4% from 2016 to 2024.

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Increasing health conscious consumers to drive the global probiotics market

The global probiotics market is driven by factors such as increasing health conscious consumers majorly in developed countries such as the United States and Canada. Additionally, other countries such as Australia, New Zealand, and Singapore also show an increased trend for probiotics. Other factors such as, growth in global functional food sector, increasing importance of natural and preventive healthcare therapies, growing popularity of probiotics in pediatric healthcare, and elevated use in weight management also boost the market. Absence of standardized parameters may hamper the market growth. Furthermore, market expansion and product innovation would provide an opportunity for market players of probiotics market.

Market Segmentation

The global probiotics market is classified into strain type, dispensing form, application, end user, and geography. Strain type segment includes yeast, lactobacillus, spore formers, streptococcus, bifidobacterium, and other strain types. Capsules, liquid drops, sticks and sachets, tablets-swallowable, tablets-chewable, and other dispensing forms are covered under the dispensing form sub segment. Moreover, application comprises probiotic food and beverages, probiotic dietary supplements, and animal feed probiotics. End user includes human probiotics, & animal probiotics. North America (U.S., Mexico, and Canada), Europe (France, Germany, Russia, UK, Italy, and Rest of Europe), Asia-Pacific (Japan, Australia, China, India, and Rest of Asia-Pacific) and RoW (Middle East, South America, and Africa) are the key geographical regions included in the global probiotics market.

Lactobacillus, by strain type, dominated the global market in 2016

Lactobacillus held for the highest market share in 2016, and expected to continue its dominance over the forecast period, 2016 – 2024, due to health benefits associated with lactobacilli such as prevention of diarrhea, increased lactase production, prevention of irritable bowel syndrome.

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Capsules, by dispensing form, is estimated to dominated the global market in 2016

Capsules held for the highest market share in 2016, and expected to continue its dominance over the forecast period, 2016 – 2024, due to its benefits such as fulfilling specific digestive health needs and with continued use, gives long-term digestive support.

Probiotic dietary supplement, by application, is estimated to dominated the global market in 2016

Probiotic dietary supplement held for the highest market share in 2016, and expected to continue its dominance over the forecast period, 2016 – 2024, due to high adoption among consumers.

Human probiotics, by end user, is estimated to dominated the global market in 2016

Human probiotics held for the highest market share in 2016, and expected to continue its dominance over the forecast period, 2016 – 2024, due to the routine consumption of probiotics in regular diets and high adoption for probiotic-based dietary supplements. Demand for probiotics yogurt and probiotics foods are increasing globally which would show an increased trend for probiotics market growth.

RoW is estimated to witness fastest CAGR from 2016 to 2024

RoW is predicted to grow at a fastest CAGR over the forecast period 2016 to 2024. The growth is attributed to government initiatives to increase consciousness of healthy eating, and inspiring the consumers for healthier lifestyle.

Competitive Landscape

The key market players of the market are Hansen Holdings A/S, Nestlé S.A., Danone, Probiotics International Ltd, Chr. Chobani, LLC, E. I. DuPont de Nemours and Company, BioGaia AB, China-Biotics Inc., Lifeway Foods, Inc., and Ganeden, Inc., among others.

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Scope of Global Probiotics Market

Strain Type Segments

• Yeast
• Lactobacillus
• Spore Formers
• Streptococcus
• Bifidobacterium
• Other Strain Types

Dispensing Form Segments

• Liquid Drops
• Sticks and Sachets
• Capsules
• Tablets-Swallowable
• Tablets-Chewable
• Other Dispensing Forms

Application Segments

• Probiotic Dietary Supplements
• Probiotic Food and Beverages
• Animal Feed Probiotics

End User Segments

• Human Probiotics
• Animal Probiotics

Geographical Segments

• North America
o U.S.
o Canada
o Mexico

• Europe
o UK
o Russia
o Germany
o France
o Italy
o Others

• Asia Pacific
o China
o Japan
o India
o Australia
o Others

• RoW
o South America
o Middle East
o Africa

Related Topics:

1. Concentrated Fruit Juice Market
2. Mineral Supplements Market
3. Kombucha Market

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