Global Probiotics Market to Grow at a CAGR of 8.2% During 2024-2032, Driven by the Growing Demand for Immunity Boosting Products

The COVID-19 pandemic has caused a shift in consumer consumption patterns, affecting the diet of people. Instead of junk or processed foods, most consumers are now preferring products with a high nutritional value. People in the United States are choosing nutrient boosters to keep themselves immune and strong, which is causing a surge in probiotic sales. Earlier, during the pandemic, the retail stores and pharmacies stockpiled probiotics in a variety of forms due to manic buying of probiotics to keep oneself immune. Fear of infection also resulted in the adoption of a healthy lifestyle, which increased the demand for probiotics.

Due to the sheer growing popularity of probiotic functional foods and beverages among consumers, the food and beverage segment is expected to lead the market growth during the forecast period. The market is being driven by factors such as consumer awareness, trust in their efficacy, and safety. The food and beverage industry generates the most revenue across all regions. Consumers are now taking a proactive approach to prevent chronic disease.

In May 2021, Nestlé (OTCMKTS: NSRGY) introduced NAN CARE, a new probiotic supplement line, created specifically for Australian parents to help support their babies' and toddlers' growing immune and digestive systems. In December 2020, Danone S.A (EPA: BN) in China launched a range of probiotics to prevent mastitis in breastfeeding mothers.  Such innovations are expected to boost the market growth over the forecast period.

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Market Analysis by Product, Ingredient, End-Use, Distribution Channel, and Region:

• The market, on the basis of product, can be divided into probiotic food and beverages and probiotic dietary supplements.
• Based on ingredients, the market is divided into bacteria and yeast.
• Based on the end-use, the market segmentation includes human probiotics and animal probiotics.
• The significant distribution channels in the market are hypermarkets/supermarkets, pharmacies/drug stores, speciality stores, and online stores, among others.
• The regional markets for probiotics include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

• The market growth for probiotics has been highly influenced by the coronavirus outbreak, which pushed the demand for immunity boosting food products, such as probiotics.
• Further, the growing awareness regarding the various health benefits of consuming the product via social media platforms or advertisements on various platforms has propelled the market growth.
• The market is also accelerating due to the growing disposable incomes and urbanisation.
• Various innovations in the market regarding the flavour, taste, and texture enhancement of probiotics have been boosting the market growth.

Key Offerings of the Report:

• The EMR report gives an overview of the global probiotics market for the periods (2018-2023) and (2024-2032).
• The report also offers the historical (2018-2023) and forecast (2024-2032) markets for the products, ingredients, end uses, distribution channels, and regions of probiotics.
• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global market for probiotics are Arla Foods amba, BioGaia AB, Chr. Hansen Holding A/S, Danone S.A., Nestlé S.A., Koninklijke DSM N.V., Archer-Daniels-Midland Company, Fonterra Co-operative Group Limited, Lifeway Foods, Inc., Yakult Honsha Co., Ltd., Reckitt Benckiser Group plc., Kerry Group plc, PepsiCo Inc., Mother Dairy Fruit & Vegetable Pvt. Ltd., NextFoods, Inc., and Amway Corp., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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