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Probiotics Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

Global Probiotics Market is segmented by Type (Probiotic Foods, Probiotic Drinks, Dietary Supplements, and Animal Feeds); by Distribution Channel (Supermarkets/Hypermarkets, Pharmacies and Drug Stores, Convenience Stores, Online Channels, and Other Distribution Channels); and by Geography.

Market Snapshot

Study Period:

2016 - 2026

Base Year:

2020

Fastest Growing Market:

Asia Pacific

Largest Market:

Asia Pacific

CAGR:

8.08 %

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Market Overview

The global probiotics market is projected to register a CAGR of 8.08% during the forecast period, (2020-2025).

  • The probiotics market is driven by the robust demand for health-based products among consumers, especially from the younger generation. Probiotics are a part of functional foods and beverages. They are known for improving gut functionality, along with other benefits, such as boosting immunity.
  • With the sudden impact of COVID-19, the market has witnessed a surge in demand for products that provide immune health, which is likely to impact the probiotics market positively. Owing to the factors there are significant product launches to cater to the growing demand. In Asia-Pacific, India has surged in the highest number of new food, drinks, and supplements that bear immune system-boosting claims launched in the last five months, followed by Australia and Indonesia.
  • There is no clear demarcation for probiotics-based pharmaceuticals and food products, with variations across different countries. Thus, the complexity in the regulatory, legislative, and technological aspects is serving as a major hurdle for market growth.

Scope of the Report

The global probiotics market is segmented by type into probiotic foods, probiotic drinks, dietary supplements, and animal feeds. Probiotic food is further sub-segmented into yogurt, bakery/breakfast cereals, baby food and infant formula, other probiotic foods. Also, probiotic drinks have been further classified into fruit-based probiotic drinks and dairy-based probiotic drinks. By distribution channel, the market is segmented into supermarkets/hypermarkets, pharmacies and drug stores, convenience stores, online channels, and other distribution channels. The study also involves an analysis of the main regions, such as North America, Europe, Asia-Pacific, South America, and Middle-East & Africa.

By Type
Probiotic Foods
Yogurt
Bakery/Breakfast Cereals
Baby Food and Infant Formula
Other Probiotic Foods
Probiotic Drinks
Fruit-based Probiotic Drinks
Dairy-based Probiotic Drinks
Dietary Supplements
Animal Feeds/Foods
By Distribution Channel
Supermarkets/Hypermarkets
Pharmacies and Health Stores
Convenience Stores
Online Retail Stores
Other Distribution Channels
By Geography
North America
United States
Canada
Mexico
Rest of North America
Europe
Spain
United Kingdom
Germany
France
Italy
Russia
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
Rest of Asia-Pacific
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
South Africa
Saudi Arabia
Rest of Middle-East and Africa

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Key Market Trends

Significance of Health Consciousness Among Millennials

Probiotics are a driving force within the booming digestive health supplement category, and people of all age groups are consuming them. However, the major consumption is observed among millennials due to their growing awareness regarding health and wellness through multi-channel publicity, which influences their consumption pattern to a large extent. Probiotic supplements represent the largest condition-specific category for mass-market retail sales in the United States, and it is the second-fastest-growing condition-specific supplement category. This shows the awareness among people regarding the benefits of probiotic supplements. The millennials, being technologically advanced, update themselves with the facts related to health and, thereby, try to amend their routines and food habits accordingly. This is inflating the demand for probiotic supplements, and it is therefore expected to drive the market for probiotics in the near future, not just in the United States, but across the world.

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Asia-Pacific Emerged as the Market Leader

The Asia-Pacific probiotics market is driven by the increasing awareness about and interest in new technology, media coverage, and consumer demand. The rising awareness about probiotics in China and India is expected to further boost the market growth in the region. In China, the inclusion of probiotics in the infant formula segment has been experiencing huge demand, which is likely to increase in the upcoming years. The market has witnessed significant growth, owing to the rise in the aging population and a growing understanding of the importance of preventive health, along with a wealth of studies showing benefits around immunity, cognitive health, and skincare. The innovations in retail chains with new formulations help differentiate the brands and the corresponding products.

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Competitive Landscape

The market is highly competitive, with the presence of key players, such as Nestle SA, Danone SA, PepsiCo Inc., and Yakult Honsha Co. Ltd. The sustainable competitive advantage through differentiation is high and manufacturers are increasingly introducing product innovations, in terms of ingredients, price, and functionalities. This has led to a high degree of competition in the market. Additionally, these companies are increasing their investments in research and development. Companies are also focusing on developing products with enhanced functionalities, in line with consumer needs, in order to expand their presence and maintain their positions in the market.

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Table Of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Drivers

    2. 4.2 Market Restraints

    3. 4.3 Porter's Five Forces Analysis

      1. 4.3.1 Threat of New Entrants

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Bargaining Power of Suppliers

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Type

      1. 5.1.1 Probiotic Foods

        1. 5.1.1.1 Yogurt

        2. 5.1.1.2 Bakery/Breakfast Cereals

        3. 5.1.1.3 Baby Food and Infant Formula

        4. 5.1.1.4 Other Probiotic Foods

      2. 5.1.2 Probiotic Drinks

        1. 5.1.2.1 Fruit-based Probiotic Drinks

        2. 5.1.2.2 Dairy-based Probiotic Drinks

      3. 5.1.3 Dietary Supplements

      4. 5.1.4 Animal Feeds/Foods

    2. 5.2 By Distribution Channel

      1. 5.2.1 Supermarkets/Hypermarkets

      2. 5.2.2 Pharmacies and Health Stores

      3. 5.2.3 Convenience Stores

      4. 5.2.4 Online Retail Stores

      5. 5.2.5 Other Distribution Channels

    3. 5.3 By Geography

      1. 5.3.1 North America

        1. 5.3.1.1 United States

        2. 5.3.1.2 Canada

        3. 5.3.1.3 Mexico

        4. 5.3.1.4 Rest of North America

      2. 5.3.2 Europe

        1. 5.3.2.1 Spain

        2. 5.3.2.2 United Kingdom

        3. 5.3.2.3 Germany

        4. 5.3.2.4 France

        5. 5.3.2.5 Italy

        6. 5.3.2.6 Russia

        7. 5.3.2.7 Rest of Europe

      3. 5.3.3 Asia-Pacific

        1. 5.3.3.1 China

        2. 5.3.3.2 Japan

        3. 5.3.3.3 India

        4. 5.3.3.4 Australia

        5. 5.3.3.5 Rest of Asia-Pacific

      4. 5.3.4 South America

        1. 5.3.4.1 Brazil

        2. 5.3.4.2 Argentina

        3. 5.3.4.3 Rest of South America

      5. 5.3.5 Middle-East and Africa

        1. 5.3.5.1 South Africa

        2. 5.3.5.2 Saudi Arabia

        3. 5.3.5.3 Rest of Middle-East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Most Active Companies

    2. 6.2 Most Adopted Strategies

    3. 6.3 Market Share Analysis

    4. 6.4 Company Profiles

      1. 6.4.1 Nestle SA

      2. 6.4.2 Danone SA

      3. 6.4.3 PepsiCo Inc.

      4. 6.4.4 Yakult Honsha Co. Ltd

      5. 6.4.5 Now Foods

      6. 6.4.6 BioGaia

      7. 6.4.7 Morinaga Milk Industry Co. Ltd

      8. 6.4.8 Lifeway Foods Inc.

      9. 6.4.9 Reckitt Benckiser LLC

  7. *List Not Exhaustive
  8. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

  9. 8. IMPACT OF COVID-19 ON THE MARKET

** Subject to Availability

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