Emphasis on Application Type (Functional Food and Beverages, Dietary Supplements, Feed); Form Type (Dry, Liquid); Packaging Type (Blister, Bottles, Container, Sachets, Stick Packs, Dropper); Ingredients Type (Bacteria, Yeast); Distribution Channel Type (Hypermarket/ Supermarket, Pharmacy/ Drugstore, Specialty Stores, Online Sales); End-User Type (Human, Animals); Region/Country
Global Probiotics Market was valued at US$ 54.7 Billion in 2020 and is anticipated to reach US$ 91.2 billion by 2027 displaying an elevated CAGR of ~ 7% over the forecast period (2021-2027). A rise in the demand for healthy food, a growing number of lactose-intolerant people coupled with the surging gastrointestinal disorder. According to the National Digestive Diseases Information Clearinghouse, some 30 million to 50 million Americans are lactose intolerant, including up to 75% of African Americans and American Indians and 90% of Asian Americans. Moreover, the surging prevalence of chronic diseases such as type 2 diabetes, obesity, stroke, heart disease, and cancer have significant health and economic costs. Currently, 60% of Americans have at least one chronic condition, and 40% have multiple chronic conditions. This all requires healthy food and supplements including probiotics. Also, As per the Food and Agriculture Organization of the United States, there was an 8.9% percentage of undernourished people in Greenland in 2019.
According to Food Allergy Research & Education, approximately 32 million people in the United States are suffering from food allergies. Furthermore, as per the United States Centers for Disease Control and Prevention, 12.2 million people suffer from a food allergy, out of which two-thirds of food allergies are due to the egg. The growing number of people suffering from food allergies require probiotics. Also, The growing geriatric population base with a higher predisposition to various age-related diseases such as cancer, cardiovascular diseases, arthritis, hypertension, etc. is a leading cause that is adding pace to the growth in the demand for probiotics for healthy diets and proper nutrition. For instance, according to the United Nations, the global population aged 60 years or over was numbered at 962 million in 2017 and is expected to reach nearly 2.1 billion by 2050
Prevalence of Gastrointestinal Diseases in Selected Countries, 2019
DuPont, Danone, Chr. Hansen, Yakult Honsha, Nestle, BioGaia AB, Probi AB, Ganeden, Inc., Protexin, Lifeway Foods, Inc., are some of the prominent players operating in the Probiotics market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products.
Insights Presented in the Report
“Amongst Application Type, Function Food and Beverages segment holds the major share”
Based on the Application Type, the market is fragmented into Functional Food and Beverages, Dietary Supplements, and Feed. The Functional Food and Beverages segment grabbed major market share and dominated the market in 2020. Moreover, the segment would witness a growth of considerable CAGR during the forthcoming years. However, the Dietary Supplements segment would be emerging as the fastest growing sector in the forthcoming years.
“Amongst Form Type, Dry segment to dominate the market during the forecast period”
Based on the Form type, the market is fragmented into Dry and Liquid. The dry segment grabbed major market share and dominated the market in 2020. Further, the dry segment is segregated into Tablets/ Caplets, Capsules, Powder/ Granules, and Chewable. The tablets segment grabbed the major market share in 2020. However, the Liquid segment would emerge in the forecast period and would witness a considerable CAGR during the forthcoming period.
“Amongst Packaging Type, Blisters segment to dominate the market during the forecast period”
Based on the Form type, the market is fragmented into Blister, Bottles, Container, Sachets, stick packs, and Dropper. The container segment grabbed a considerable market share in 2020. However, the bottle segment would emerge in the forecast period and would witness a considerable CAGR during the forthcoming period.
“Amongst Ingredients Type, Yeast segment to dominate the market during the forecast period”
Based on the Ingredients type, the market is fragmented into bacteria and Yeast. The bacteria segment grabbed a considerable market share in 2020. However, the yeast segment would emerge in the forecast period and would witness a considerable CAGR during the forthcoming period.
“Amongst Distribution Channel Type, Online segment to dominate the market during the forecast period”
Based on the distribution type, the market is fragmented into Hypermarket/ Supermarket, Pharmacy/ Drugstore, Specialty Stores, Online Sales. The hypermarket. supermarket segment grabbed the considerable market share in 2020. However, the online sales segment would emerge in the forecast period and would witness a considerable CAGR during the forthcoming period.
“Amongst End-User Type, Human Segment to dominate the market during the forecast period”
Based on the End-User type, the market is Human and Animals. The Human segment grabbed the major market share in 2020. However, the animal segment would emerge in the forecast period and would witness a considerable CAGR during the forthcoming period.
“North America represents one of the largest markets of Probiotics market”
For a better understanding of the market dynamics of the Probiotics market, a detailed analysis was conducted for different regions across the globe including North America, Europe, Asia Pacific, and the Rest of the world. North America dominated the market and generated the leading revenue share in 2020 owing to the change in lifestyle and growing demand for healthy food options.
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1. Market Introduction
2. Research Methodology Or Assumption
3. Market Synopsis (industry At A Glance)
4. Executive Summary
5. Covid-19 Impact
6. Global Probiotics Market Revenue
7. Market Insights By Application
8. Market Insights By Form
9. Market Insights By Packaging Type
10. Market Insights By Ingredients
11. Market Insights By Distribution Channel
12. Market Insights By End-user
13. Market Insights By Region
14. Power Distribution Component Market Dynamics
15. Demand And Supply Side Analysis
16. Value Chain Analysis
17. Probiotics Market Opportunities
18. Competitive Scenario
19. Company Profiled
20. Disclaimer
Analyzing the historical market, estimation of the current market, and forecasting the future market of the Probiotics Market were the three major steps undertaken to create and analyze the demand for Probiotics across major regions. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the Probiotics market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/ bottom-up approach to forecast the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detailed secondary study was conducted to obtain the historical market size of the Probiotics through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the Probiotics market, we conducted a detailed secondary analysis to gather historical market insights and share for application, form, packaging type, distribution channel, Ingredients, end-user for major regions. Major segments included in the report are application, ingredients, and packaging type. Further region and country-level analyses were conducted to evaluate the overall adoption of Probiotics across the globe.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of Probiotics. Further, we conducted factor analysis using dependent and independent variables such as health benefits associated with probiotic-fortified foods, Increasing popularity of probiotic dietary supplements, Rising health consciousness among consumers, etc., A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, merger and acquisition, business expansion, and product launches in the Probiotics industry across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the Probiotics market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weightage was assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e. bottom-up/ top-down approach was applied to arrive at the market forecast about 2027 for different segments and subsegments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment of the Probiotics market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of Application, form, packaging type, distribution channel, Ingredients, and End-User of the Probiotics market.
Main Objective of the Probiotics Market Study
The current & future market trends of Probiotics were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends were determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:
Deep dive regional level analysis of the industry
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November 7, 2024
