Probiotics Market Expected to Reach USD 11.34 Trillion by 2024
Growing Consumer Awareness and Health Concerns Drive Market Growth
The global probiotics market is expanding rapidly, driven by increasing consumer awareness of the health benefits associated with probiotics. Probiotics are live microorganisms that, when consumed in adequate amounts, can provide health benefits to the host. They are found in fermented foods such as yogurt, kefir, and sauerkraut, as well as in dietary supplements.
According to a recent market report, the global probiotics market reached approximately USD 6178 billion in 2023 and is estimated to grow at a CAGR of 10.6% between 2023 and 2030. This growth is attributed to factors such as rising consumer demand, increasing awareness of health benefits, growing adoption of functional foods and dietary supplements, and government initiatives to promote the consumption of fermented foods.
By product type, the market is segmented into spore-forming probiotics, non-spore-forming probiotics, and prebiotics. Among these, the spore-forming probiotics segment is accounted for the largest share of the market due to its stability during food processing and storage.
In terms of application, the global probiotics market is categorized into food and beverages, dietary supplements, and animal feed. The food and beverages segment holds the largest market share due to the wide use of probiotics in fermented dairy products, juices, and beverages. However, the animal feed segment is anticipated to witness significant growth during the forecast period owing to the growing demand for natural alternatives to antibiotics in livestock production.
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