Probiotics Market

Growing health awareness is driving the market growth

The Global Probiotics Market Industry is experiencing a surge in demand driven by increasing health consciousness among consumers. Individuals are becoming more aware of the benefits of gut health and its correlation with overall well-being. This trend is reflected in the growing preference for functional foods and dietary supplements that contain probiotics. As of 2024, the market is valued at approximately 47.8 USD Billion, indicating a robust interest in products that promote digestive health and immune support. This heightened awareness is likely to propel the market further as consumers seek out products that align with their health goals.

By region, the study gives market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North American probiotic market is expected to dominate this market, owing to an increase in consumer awareness about the health benefits of probiotics. Additionally, the regional market players invest in research and development to manufacture new products for consumers of different ages and genders. The US is the largest presenter of the probiotic market owing to the rise in interest in consuming healthy and functional food & beverages.

Further, major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2: PROBIOTICS MARKET SHARE BY REGION 2022 (%)

Source: Primary Research, Secondary Research, Market Research Future Database, and Analyst Review

The Asia-Pacific Probiotics Market accounts for the second-largest market share due to expanding awareness of a healthy lifestyle and nutrition and rising population and per capita disposable income. Moreover, China’s market of  Probiotics held the largest market share, and the Indian Probiotics industry was the fastest-growing market in the Asia-Pacific region.

Europe's Probiotics industry is experiencing considerable growth in the market share as the people here are becoming aware of its health benefits and the presence of a variety of products. Further, the UK Probiotics industry held the largest market share in the European region.

Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Probiotics market grow even more. Market participants are also undertaking a variety of strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the Probiotics industry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the Probiotics industry to benefit clients and increase the market sector. In recent years, the Probiotics industry has offered some of the most significant advantages to health-conscious consumers. Major players in the Probiotics market, including Lallemand Inc., Probi AB, CHR-Hansen AA/S, Kerry Group, Synbio Tech Inc., DowDupont Inc., Novozymes A/S, Probiotics SpA, Roelmi HPC, UAS Laboratories LLC, Greentech SA., and others, are attempting to increase market demand by investing in research and development operations.

BioGaia is a Swedish healthcare company and the world's number one in probiotics. It puts together the well-researched probiotic bacteria Lactobacillus reuteri and top-line engineering to develop unique packaging solutions that make it possible to create probiotic products matching the customer's needs. The class B share of BioGaia is quoted on the Mid Cap list of the Nordic Exchange Stockholm. BioGaia, a biotechnology company, announced the collaboration with Skinome for doing research and development of a product using live bacteria, which will improve skin health in a natural way by supporting the skin microbiome in the year 2022.

In August 2022, along with wholly-owned subsidiary Metabogen (a research and development), it launched a probiotic product and spread its product portfolio with new bacterial strains. In July 2022, BioGaia company developed a probiotic product to help children with respiratory health, which focuses on strengthening the immune system and supporting children's upper respiratory health.

Neuraxpharm is a top European specialty pharmaceutical company focused on treating central nervous system disorders with direct business in 20 countries. With a focus on CNS, Neuraxpharm launches and commercializes established brands, value-added medicine, generics, Consumer Healthcare products, medical cannabis, and beyond-the-pill solutions and is constantly focused on providing a wide range of effective, high quality and affordable CNS treatment options in Europe. It has its products in more than 50 countries; Neuraxpharm also manufactures pharmaceutical products (FDFs) and active pharmaceutical ingredients (APIs) in its own manufacturing sites in Spain, Lesvi, and Inke.

In May 2019, Neuraxpharm Group launched its first probiotic in the regional market that, follows a special licensing contract with Bened Biomedical Co., Ltd.