Global Probiotics Market to Generate $105,336.5 Million by 2031, Owing to Use of Probiotics as a Replacement to Pharmaceutical Agents

Probiotics are nothing but “good” bacteria that have numerous health benefits, especially for gut health. To be specific, probiotics help in improving gastrointestinal discomfort, enhancing immunity, circumventing obesity, weight management, etc. Probiotics are widely used in fermented foods, dairy products, pickled vegetables, meat items and beverages. Along with direct use in food items, probiotics are also increasingly used nowadays in dietary supplements.

Forecast Analysis of the Probiotics Market

In recent years, growing use of probiotics as a replacement to pharmaceuticals agents is expected to be the primary growth drivers of the global probiotics market in the forecast years. Along with this, growing application of probiotics in natural and organic food products is anticipated to offer numerous investment and growth opportunities to the market in the analysis timeframe. Additionally, growing health consciousness among the global populations is anticipated to push the market higher in the 2022-2031 period. However, lack of proper regulations may restrain the growth of the probiotics market in the forecast period.

Regionally, the probiotics market in the Asia-Pacific region is expected to be the most dominant one by 2031. The rise in the middle-class population and increase in disposable income in countries like India, China, and Indonesia are projected to be the two main factors behind the growth of the market in this region.

According to the report published by Research Dive, the probiotics market is expected to gather a revenue of $105,336.5 million by 2031 and grow at 7.6% CAGR in the 2022–2031 timeframe. Some prominent market players include Arla Foods, Inc., anisco A/S, Lallemand Inc., BioGaia AB, General Mills Inc., Lifeway Foods, Inc., Chr. Hansen Holding A/S, i-Health Inc., Mother Dairy Fruit & Vegetable Pvt. Limited., and Danone, and many others.

Covid-19 Impact on the Market

The outbreak of the Covid-19 pandemic has had a massive negative effect on almost all industries and businesses across the world. The probiotics market, however, has been an exception to this trend. The growing awareness about the importance of having a healthy diet and strong immunity has led to an increase in demand for probiotics. This surge in demand has augmented the growth rate of the market in the forecast.

Significant Market Developments

The significant companies operating in the industry are adopting numerous growth strategies & business tactics such as partnerships, collaborations, mergers & acquisitions, and launches to maintain a robust position in the overall market, thus helping the probiotics market to flourish. For instance:

• In June 2021, Probi, a probiotics company, announced a partnership with Oriflame, a cosmetics company. This collaboration is aimed at launching Probi’s probiotics supplement called Probi Digestis®. With this launch, both the companies will get a significant lead over their competitors in the probiotics market.
   
• In November 2021, ADM, a nutrition company, announced the acquisition of Deerland Probiotics & Enzymes, a leading probiotics company. This acquisition is predicted to aid ADM to consolidate its lead in the probiotics market and expand its business globally.
   
• In April 2022, IFF, a leading biosciences company, announced the acquisition of Health Wright Products, a dietary supplements company. This acquisition is predicted to help IFF to cater to the demands of the market comprehensively and increase its market share substantially in the next few years.