The Global Probiotics Market Forecasted to Flourish as Wellness Trends Gain Momentum, the Market to Hit $115.07 Billion - Focus Research Report by Arizton
Probiotics Market Report Scope
North America has the largest market share in the global probiotics market (2023). In 2023, the functional food and beverage segment accounted for a 83.06% share of the global probiotics market. The segment is anticipated to retain its market dominance during the forecast period. Customers have shown interest in purchasing probiotic-based functional foods, which will drive the market during the forecast period. The functional food & beverage segment is sub-segmented into dairy-based probiotics and non-dairy-based probiotics. Dairy-based probiotics include milk-based, yogurt-based, cheese-based, and others. Non-dairy-based probiotics include vegetable-based probiotics, fruit-based probiotics, cereal-based probiotics, and meat-based probiotics. Various diseases are increasing due to multiple reasons, such as unhealthy food consumption, changing lifestyles, and others. Many occur due to disturbed gut health. Thus, consumers prefer healthy foods & beverages that help to maintain gut health. They focus on offering foods with probiotics along with other nutrients. Therefore, the demand for functional food & beverage products will increase during the forecast period.
In 2023, the drug store segment accounted for a 15.29% share, with chain pharmacies experiencing rapid growth thanks to robust supply chains. Arizton forecasts an incremental growth of more than
$6 billion, marking a substantial absolute growth during the forecast period. These pharmacies, often situated near hospitals, serve as primary sources for medicines, including probiotics in various forms like tablets, powders, and capsules.
European countries are witnessing a surge in the proliferation of individual and chain pharmacies, with the latter benefiting from advantages in size and scale. This allows chain pharmacies to offer products at competitive prices compared to independent stores. Notable players in this domain include Walmart Stores, CVS Health Corporation, Walgreens Boots Alliances, McKesson Europe, Phoenix Group, and Penta Investments, operating across developed countries.
The COVID-19 pandemic further fueled the demand for pharmaceutical products, expanding the number of drug stores in developed nations.
Product Segmentation and Forecast
Vendors List
Key Questions Answered in the Report:
What factors are driving the global probiotics market?
What is the projected value of the global probiotics market by 2029?
Which segment leads the product type category in the probiotics market?
Which regions are significant players in the probiotics market?
Table of Content
CHAPTER – 1: Probiotics Market Overview
CHAPTER – 2: Probiotics Market
CHAPTER – 3: Probiotics Market Segmentation Data
CHAPTER – 4: Key Regions Overview
CHAPTER – 5: Probiotics Market Prospects & Opportunities
CHAPTER – 6: Probiotics Industry Overview
CHAPTER – 7: Appendix
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