Probiotics Market

Probiotics Market by Product Type (Functional Food & Beverages (FnB), Dietary Supplements, and Feed), Ingredient (Bacteria and Yeast), End User (Human and Animal), Distribution Channel and Region - Global Forecast to 2029

Report Code: FB 2269 Mar, 2024, by marketsandmarkets.com

According to MarketsandMarkets, the global Probiotics market size is estimated to be valued at USD 71.2 billion in 2024 and is projected to reach USD 105.7 billion by 2029, recording a CAGR of 8.2%. This growth is primarily attributed to a confluence of factors. Rising consumer awareness of gut health's link to overall well-being and a growing preference for preventive healthcare are key drivers. Additionally, innovation in delivery methods and targeted strains promises exciting future growth.

The expanding business has offered lucrative business opportunities to the players who are operating in the market segments. For instance, in October 2023, Probi (Sweden) unveiled synbiotic solutions in collaboration with Clasado (UK) at Supply Side West. Launching Bimuno GOS with Probi Defendum and Probi Digestis , these innovations signify a strategic leap into the burgeoning synbiotics sector. This milestone underscores Probi's commitment to evidence-based advancements in digestive and immune health.  Other major players, such as ADM (US), expand its international distribution partnership with Nutramax, bolstering their presence in the probiotics market. ADM Protexin now oversees Nutramax brands in Europe and select Asia Pacific markets, aiming for further global expansion. This strategic move enhances access to Nutramax's renowned pet health solutions. The deal underscores ADM's commitment to quality and animal welfare.

The overall probiotics market is classified as a fragmented market, with the Major players, namely Nestlé (Switzerland), ADM (US), International Flavors & Fragrances Inc. (US), Yakult Honsha Co., Ltd. (Japan), Meiji Holdings Co., Ltd. (Japan) occupying 12-24% of the market share.

Probiotics Market

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Probiotics Market Opportunities

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Probiotics Market Dynamics

Drivers: Health benefits associated with probiotic-fortified foods

Health awareness among consumers is on the rise, wherein most consumers are constantly in search of healthy food products for daily consumption. Probiotics have provided strong health benefits, more specifically to the human digestive system. In Europe, the dairy sector is the most developed segment of the market. Probiotic yogurts and fermented milk that are sold in a convenient “daily dose and small pack” format are the most widely used. Consumer acceptance of probiotic-containing products varies greatly across Europe. For instance, in August 2021, Müller launched its first stand-alone yogurt brand in the UK called Gut Glory. The new range will be available in pack sizes of 450g and 125g packs. In addition to this, the Food and Agriculture Organization of the United Nations (FAO) has concluded the solid demand for dairy products, such as cheese and yogurts, globally. International trade in cheese products reached 2.8 million tons in 2020, sustaining the expansion for a fifth consecutive year by 4.1%, underpinned by the continued solid import demand by several countries, especially the Russian Federation, Iraq, China, and the Republic of Korea.

Restraints: High R&D costs for developing new probiotic strains

Substantial investments in research and development (R&D), alongside expenditures on laboratories, research equipment, and the hiring of skilled professionals, present formidable barriers to entry in the probiotics market. Scientific validation of probiotic applications has proven crucial for market success, with their association with health benefits posing challenges for manufacturers seeking a return on investment (RoI) given the high initial capital outlay. Leading companies such as , Probi (Sweden), Nestlé (Switzerland), ADM (US), Danone (France), and Yakult Honsha (Japan) have prioritized bolstering their R&D capabilities to secure a competitive edge, thereby erecting barriers for potential market entrants.

The development and production of probiotic strains and products adhere to international food regulations, contributing to high production costs and subsequently elevated final product prices. Marketing and distribution of probiotic products further inflate costs, as they necessitate distinct packaging and distribution channels compared to conventional products. Despite consumer awareness of the health advantages associated with probiotics, their premium pricing presents a hurdle to widespread adoption, posing a significant challenge for manufacturers.

Opportunities: Replacement of pharmaceutical agents by probiotics

The rising demand for probiotics underscores consumers' preference for products with established health benefits. As evidence of probiotics' positive impact on health continues to accumulate, consumer expectations regarding these products have grown. This trend towards seeking safe, natural, and cost-effective alternatives to pharmaceuticals has prompted the exploration of probiotics' potential as pharmaceutical agents. The efficacy of probiotics in this context appears to depend on the specific strain and dosage used. Clinical trials have demonstrated that probiotics have the potential to treat various human disorders, particularly those affecting the gastrointestinal (GI) tract. Incorporating probiotic-rich fermented dairy products into diets has shown promise in addressing specific clinical conditions, including antibiotic-associated diarrhea, rotavirus-associated diarrhea, inflammatory bowel disease, irritable bowel syndrome (IBS), allergic diseases, cancer, Helicobacter pylori infection, and lactose intolerance.

As per the research paper published by National Center for Biotechnology Information, probiotics have demonstrated high potential to treat and prevent various diseases such as neurodegenerative disorders, cancers, cardiovascular diseases, and inflammatory diseases. In addition, probiotics are also effective against multidrug-resistant pathogens and help maintain a balanced gut microbiota ecosystem.

Challenges: Complexities in integrating probiotics in functional foods

The process of developing and commercializing functional food products involves complexity, cost, and uncertainty. Success in this field depends on various factors including consumer demand, technological advancements, and regulatory frameworks. Additionally, consumer awareness of the health benefits associated with specific ingredients influences the acceptance of functional foods. While traditional functional ingredients like minerals, fiber, and vitamins remain popular, there is growing interest in novel products enriched with probiotics, prebiotics, flavonoids, carotenoids, and conjugated linolenic acid

The researcher has to work in-depth to overcome all the challenges related to the selection and development of the strain and related production processes. Probiotic strains are prone to changes in pH and temperature. The strains must sustain while integrating with functional foodstuffs. The basic requirement for probiotics is that products should contain sufficient numbers of microorganisms up to the expiry date. Hence, probiotics must contain specific strains and maintain certain numbers of live cells to produce health benefits in the host. Different countries have decided on the minimum number of viable cells required in the probiotic product for it to be beneficial. The preservation of these probiotic microorganisms presents a challenge as they are affected by exposure to temperature, oxygen, and light.

The Probiotics Market Ecosystem

Top Companies in Probiotics Market

By Product type, the Functional Food & beverages segment accounts for the highest market share Probiotics market during the forecast period.

Consumer demand for convenient and proactive wellness solutions has propelled the popularity of probiotic-fortified products like yogurts, kefir, kombucha, and fortified beverages, which offer an easy and enjoyable way to incorporate probiotics into daily routines. These products align well with the rising trend of preventive healthcare, catering to consumers seeking to maintain their health and well-being proactively. The segment benefits from continuous innovation and diversification, with manufacturers introducing a wide range of new probiotic-infused products to meet diverse taste preferences and dietary needs. This includes offerings such as probiotic-infused waters, shots, snack bars, and chocolates, catering to various consumer demographics and lifestyle choices, including vegan and lactose-free diets. As consumers increasingly seek personalized solutions for their health concerns, the segment is poised to further expand through tailored probiotic formulations designed to address specific digestive issues or mental health concerns, emphasizing the importance of personalization in driving market growth

By Ingredient, the bacteria segment accounts for a significant market share in the Probiotics market.

Bacteria have a well-established reputation and extensive scientific backing supporting their efficacy in promoting gut health, a fundamental application of probiotics. Bacterial strains offer a broader spectrum of diversity compared to alternative probiotic types like yeast, enabling the development of targeted formulations tailored to address specific health needs. Recent innovations, such as psychobiotic strains targeting mental well-being and spore-forming bacteria with improved shelf life and delivery properties, underscore the versatility and applicability of bacterial probiotics. The established and cost-effective manufacturing processes associated with bacteria contribute to greater affordability and broader consumer accessibility, further consolidating the bacteria segment's market dominance during the forecasted period.

By Distribution channel, the Hypermarkets/ Supermarkets segment accounts for a significant market share in the Probiotics market.

Hypermarkets, comprising expansive supermarkets and warehouse clubs, stand as pivotal hubs for probiotic distribution, capitalizing on their extensive reach and accessibility. With a sprawling network of stores, hypermarkets offer unparalleled convenience to a broad spectrum of consumers, ensuring easy access to probiotic products. This accessibility is especially important for those who prioritize convenience and don't often visit specialty stores. Moreover, hypermarkets provide a comprehensive shopping experience by curating a diverse selection of groceries, including a dedicated health and wellness section where probiotics are prominently featured. This one-stop shopping approach streamlines the purchasing process for consumers, allowing them to fulfill their dietary needs alongside other household essentials. The abundant product variety available at hypermarkets, spanning different brands, formulations, and price points, further caters to diverse consumer preferences, enriching the shopping experience.

By End User, the Human segment accounts for a significant market share in the Probiotics market.

This segment benefits from a multifaceted approach that encompasses growing awareness of gut health among the public, underscored by a 2022 IFIC survey revealing that 24% of respondents prioritize digestive health in their overall well-being. Additionally, with 32% of respondents actively seeking out probiotics and 60% of those consumers integrating them into their daily routine, there is a palpable demand for probiotic products tailored to human health needs, including digestive support, immune enhancement, and mental well-being. Furthermore, the human probiotics market thrives on a continuous stream of product innovation, evidenced by the emergence of personalized formulations targeting specific health concerns and innovative delivery methods such as chewable tablets. This innovative spirit extends to exploring psychobiotic strains for mental health benefits, highlighting the dynamic nature of the market.

Increased awareness of gut microbiome and aging population are key drivers in Asia-Pacific probiotics market. Asia Pacific is poised to experience the highest CAGR in the Probiotics market during the forecast period.

An increased awareness of the gut microbiome and its profound impact on digestion, immunity, and mental health among the public. This heightened awareness is prompting individuals to explore probiotic supplements and foods fortified with probiotics as a means to support overall well-being. Additionally, the region's rapidly aging population, particularly in countries like South Korea, is driving the adoption of probiotics, as they are increasingly recognized for their potential benefits for gut health and immune function in older adults. Innovation, such as the development of personalized probiotic strains tailored to individual health needs, and exploration into probiotics for skin health and mental well-being, is expected to further amplify market potential in the region. In  December 2020 government initiatives, such as India's promotion of nutraceuticals through policies such as the AYUSH policy, are also fostering market growth. With these factors at play, the Asia Pacific region is poised to experience the highest CAGR in the probiotics market during the forecast period.

Asia Pacific: Probiotics Market Snapshot

North American Probiotics Market Size, and Share

Key Market Players

Key players in this market include Probi (Sweden), Nestlé (Switzerland), ADM (US), Danone (France), International Flavors & Fragrances Inc. (US), Yakult Honsha Co., Ltd. (Japan), BioGaia (Sweden), MORINAGA MILK INDUSTRY CO., LTD. (Japan), Meiji Holdings Co., Ltd. (Japan), Lifeway Foods, Inc. (US), Adisseo (France), Winclove Probiotics (US), AB-Biotics, S.A. (Belgium), Apsen Farmacêutica (Brazil), and Lallemand (Canada).

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Scope of the Report

Report Metric

Details

Market size estimation

2024–2029

Base year considered

2023

Forecast period considered

2024–2029

Units considered

Value (USD), Volume (KT)

Segments Covered

Product type, ingredient, distribution channel, end user, and region.

Regions covered

North America, Europe, Asia Pacific, South America, and Rest of the World

Companies studied

  • Probi (Sweden)
  • Nestlé (Switzerland)
  • ADM (US)
  • Danone (France)
  • International Flavors & Fragrances Inc. (US)
  • Yakult Honsha Co., Ltd. (Japan)
  • BioGaia (Sweden)
  • MORINAGA MILK INDUSTRY CO., LTD. (Japan)
  • Meiji Holdings Co., Ltd. (Japan)
  • Lifeway Foods, Inc. (US)
  • Adisseo (France)
  • Winclove Probiotics (US)
  • AB-Biotics, S.A. (Belgium)
  • Apsen Farmacêutica (Brazil)
  • Lallemand (Canada)
  • Elanco (US)
  • NextFoods, Inc.(US)
  • i-Health, Inc. (US)
  • Suja Life LLC. (US)
  • Renew Life Formulas LLC. (US)
  • BIOHM Health (US)
  • Sun Genomics (US)
  • Unique Biotech Ltd (India)
  • So Good So You (US)
  • Protocol For Life Balance (US)

Report Scope:

Probiotics market:

By Product Type
  • Functional Food & Beverages
    • Dairy Products
    • Non-Dairy Beverage
    • Infant Formula
    • Cereals
    • Other Applications
  • Dietary Supplements
    • Tablets
    • Capsules
    • Powders
    • Liquids
    • Soft Gels
    • Gel Caps
  • Feed
By Ingredient
  • Bacteria
    • Lactobacilli
      • Lactobacillus Acidophilus
      • Lactobacillus Rhamnosus
      • Lactobacillus Casei
      • Lactobacillus Reuteri
    • Bifidobacterium                       
    • Streptococcus Thermophilus                              
  • Yeast                
    • Saccharomyces Boulardii                      
    • Other Yeasts             
By Distribution Channel
  • Hypermarkets/Supermarkets
  • Pharmacies/Drugstores
  • Specialty Stores
  • Online
  • Convenience Stores/Small Retail Formats     
By End User
  • Human
  • Animal
By Region
  • North America
  • Europe
  • Asia Pacific
  • South America
  • Rest of the World

Recent Developments

  • In February 2024, AB Biotics SA (Netherlands) expands its presence in Asia, partnering with Wonderlab for their globally marketed product, AB-LIFE . The collaboration introduces Shape100 , a probiotic blend focusing on cardiometabolic health, to the Chinese market. This strategic move aims to address cholesterol-related concerns through evidence-based solutions.
  • In November 2023, Nestlé (Switzerland) launched N3 milk, a breakthrough in nutritional innovation. Incorporating prebiotic fibers and reduced lactose, it enriches gut health and boasts over 15% fewer calories. Tailored for diverse dietary needs, N3 supports bone health, muscle growth, and immunity.
  • In September 2023, Yakult Honsha Co Ltd (Japan) Introduced the Yakult Gohonmaru Cafe & Gallery in Utsunomiya, Japan. This innovative venture, inclusive of a beauty salon and gallery, offers patrons an array of delectable treats infused with Yakult probiotic beverage. The strategic investment underscores Yakult's commitment to expanding its consumer base and fostering brand awareness.

Frequently Asked Questions (FAQ):

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TABLE OF CONTENTS
 
1 INTRODUCTION (Page No. - 38)
    1.1 STUDY OBJECTIVES 
    1.2 MARKET DEFINITION 
    1.3 STUDY SCOPE 
           1.3.1 MARKET SEGMENTATION
                    FIGURE 1 PROBIOTICS MARKET SEGMENTATION
           1.3.2 INCLUSIONS AND EXCLUSIONS
           1.3.3 REGIONS COVERED
                    FIGURE 2 PROBIOTICS MARKET SEGMENTATION, BY REGION
           1.3.4 YEARS CONSIDERED
                    FIGURE 3 STUDY PERIODS CONSIDERED
    1.4 UNITS CONSIDERED 
           1.4.1 CURRENCY (VALUE UNIT)
                    TABLE 1 USD EXCHANGE RATES CONSIDERED, 2019–2022
           1.4.2 VOLUME UNIT
    1.5 STAKEHOLDERS 
    1.6 SUMMARY OF CHANGES 
    1.7 RECESSION IMPACT ANALYSIS 
 
2 RESEARCH METHODOLOGY (Page No. - 45)
    2.1 RESEARCH DATA 
           FIGURE 4 PROBIOTICS MARKET: RESEARCH DESIGN
           2.1.1 SECONDARY DATA
                    2.1.1.1 Key data from secondary sources
                               FIGURE 5 KEY DATA FROM SECONDARY SOURCES
           2.1.2 PRIMARY DATA
                    2.1.2.1 Key primary insights
                               FIGURE 6 KEY INSIGHTS FROM PRIMARY SOURCES
                    2.1.2.2 Breakdown of Primary Interviews
                               FIGURE 7 BREAKDOWN OF PRIMARY INTERVIEWS, BY COMPANY TYPE, DESIGNATION,  AND REGION
    2.2 MARKET SIZE ESTIMATION 
           2.2.1 BOTTOM-UP APPROACH
                    FIGURE 8 PROBIOTICS MARKET: BOTTOM-UP APPROACH
           2.2.2 TOP-DOWN APPROACH
                    2.2.2.1 Supply side analysis
                               FIGURE 9 PROBIOTICS MARKET SIZE CALCULATION STEPS AND THEIR CORRESPONDING SOURCES: SUPPLY SIDE
                               FIGURE 10 PROBIOTICS MARKET: TOP-DOWN APPROACH
    2.3 DATA TRIANGULATION 
           FIGURE 11 DATA TRIANGULATION
    2.4 RESEARCH ASSUMPTIONS 
    2.5 RESEARCH LIMITATIONS 
           FIGURE 12 RESEARCH LIMITATIONS & ASSOCIATED RISKS
    2.6 RECESSION IMPACT ON PROBIOTICS MARKET 
           2.6.1 RECESSION MACROECONOMIC INDICATORS
                    FIGURE 13 INDICATORS OF RECESSION
                    FIGURE 14 GLOBAL INFLATION RATE, 2011–2022
                    FIGURE 15 GLOBAL GDP, 2011–2022 (USD TRILLION)
                    FIGURE 16 RECESSION INDICATORS AND THEIR IMPACT ON PROBIOTICS MARKET
                    FIGURE 17 PROBIOTICS MARKET: EARLIER FORECAST VS RECESSION IMPACT  FORECAST, 2024
 
3 EXECUTIVE SUMMARY (Page No. - 59)
    TABLE 2 PROBIOTICS MARKET SNAPSHOT, 2024 VS. 2029 
    FIGURE 18 PROBIOTICS MARKET, BY INGREDIENT, 2024 VS. 2029 (USD BILLION) 
    FIGURE 19 PROBIOTICS MARKET, BY PRODUCT TYPE, 2024 VS. 2029 (USD BILLION) 
    FIGURE 20 PROBIOTICS MARKET, BY END USER, 2024 VS. 2029 (USD BILLION) 
    FIGURE 21 PROBIOTICS MARKET, BY DISTRIBUTION CHANNEL,  2024 VS. 2029 (USD BILLION) 
    FIGURE 22 PROBIOTICS MARKET SHARE (VALUE), BY REGION, 2023 
 
4 PREMIUM INSIGHTS (Page No. - 64)
    4.1 ATTRACTIVE OPPORTUNITIES IN PROBIOTICS MARKET 
           FIGURE 23 HEALTH BENEFITS ASSOCIATED WITH PROBIOTIC-FORTIFIED FOODS & BEVERAGES TO PROPEL MARKET
    4.2 ASIA PACIFIC: PROBIOTICS MARKET, BY PRODUCT TYPE  AND COUNTRY 
           FIGURE 24 CHINA AND FUNCTIONAL FOOD & BEVERAGES TO ACCOUNT FOR LARGEST SEGMENTAL SHARES IN ASIA PACIFIC PROBIOTICS MARKET IN 2023
    4.3 PROBIOTICS MARKET, BY PRODUCT TYPE 
           FIGURE 25 FUNCTIONAL FOOD & BEVERAGES SEGMENT TO DOMINATE AMONG PROBIOTIC PRODUCT TYPES IN MARKET DURING FORECAST PERIOD
    4.4 PROBIOTICS MARKET IN FUNCTIONAL FOOD & BEVERAGES,  BY-PRODUCT SUBTYPE 
           FIGURE 26 DAIRY PRODUCTS TO HAVE SUBSTANTIAL LEAD OVER OTHER FUNCTIONAL FOOD & BEVERAGES WITH PROBIOTICS DURING FORECAST PERIOD
    4.5 PROBIOTICS MARKET, BY DISTRIBUTION CHANNEL 
           FIGURE 27 HYPERMARKETS & SUPERMARKETS TO BE LEADING DISTRIBUTION CHANNELS OF PROBIOTICS DURING FORECAST PERIOD
    4.6 PROBIOTICS MARKET, BY END USER 
           FIGURE 28 HUMAN END USE TO COMMAND LION’S SHARE OVER ANIMAL END USE OF PROBIOTICS DURING STUDY PERIOD
    4.7 PROBIOTICS MARKET, BY INGREDIENT 
           FIGURE 29 BACTERIAL PROBIOTICS TO DOMINATE MARKET DURING FORECAST PERIOD
 
5 MARKET OVERVIEW (Page No. - 68)
    5.1 INTRODUCTION 
    5.2 MACROECONOMIC INDICATORS 
           5.2.1 INCREASE IN RETAIL SALES
                    FIGURE 30 US: RETAIL AND FOOD SERVICE SALES, 2016–2022 (USD BILLION)
           5.2.2 GROWTH OPPORTUNITIES IN DEVELOPING REGIONS SUCH AS ASIA PACIFIC AND SOUTH AMERICA
                    FIGURE 31 ASIA: ANNUAL GDP GROWTH RATE, BY COUNTRY, 2022
    5.3 MARKET DYNAMICS 
           FIGURE 32 MARKET DYNAMICS
           5.3.1 DRIVERS
                    5.3.1.1 Rise in awareness on health benefits associated with probiotic-fortified foods
                    5.3.1.2 Participation of international bodies in R&D of probiotic products
                    5.3.1.3 Technological advancements in probiotic products
           5.3.2 RESTRAINTS
                    5.3.2.1 High R&D costs for developing new probiotic strains
                    5.3.2.2 Instances of allergic reactions to some probiotic supplements
                    5.3.2.3 Stress factors affecting probiotic efficacy
           5.3.3 OPPORTUNITIES
                    5.3.3.1 Ban on use of Antibiotic Growth Promoters (AGPs) in feed in EU
                    5.3.3.2 Replacement of pharmaceutical agents by probiotics
                    5.3.3.3 Use of yeast probiotics as antibiotics or growth promoters
           5.3.4 CHALLENGES
                    5.3.4.1 Complexities in integrating probiotics in functional foods
                    5.3.4.2 Intolerance of probiotics to stomach acid and bile
 
6 INDUSTRY TRENDS (Page No. - 76)
    6.1 INTRODUCTION 
    6.2 VALUE CHAIN ANALYSIS 
           FIGURE 33 VALUE CHAIN ANALYSIS OF PROBIOTICS MARKET
           6.2.1 RESEARCH & PRODUCT DEVELOPMENT
           6.2.2 SOURCING
           6.2.3 PRODUCTION & PROCESSING
           6.2.4 PACKAGING & STORAGE
           6.2.5 DISTRIBUTION, SALES, AND MARKETING
    6.3 SUPPLY CHAIN ANALYSIS 
           FIGURE 34 SUPPLY CHAIN ANALYSIS OF PROBIOTICS MARKET
    6.4 TECHNOLOGY ANALYSIS 
           6.4.1 KEY TECHNOLOGIES
                    6.4.1.1 Multi-layer embedding
                    6.4.1.2 Microencapsulated powder for probiotication  in food products
           6.4.2 COMPLEMENTARY TECHNOLOGY
                    6.4.2.1 Probiotics and artificial intelligence
    6.5 PRICING ANALYSIS 
           6.5.1 AVERAGE SELLING PRICE TREND OF KEY PLAYERS, BY FUNCTIONAL FOOD & BEVERAGES
                    FIGURE 35 AVERAGE SELLING PRICE TRENDS OF KEY PLAYERS, BY FUNCTIONAL FOOD & BEVERAGE PRODUCT, 2024 (USD/TON)
           6.5.2 AVERAGE SELLING PRICE TREND, BY PRODUCT TYPE
                    FIGURE 36 AVERAGE SELLING PRICE TREND, BY PRODUCT TYPE, 2021-2024 (USD/TON)
                    FIGURE 37 AVERAGE SELLING PRICE TREND FOR FUNCTIONAL FOOD & BEVERAGES,  BY REGION, 2022–2024 (USD/TON)
                    FIGURE 38 AVERAGE SELLING PRICE TREND FOR DIETARY SUPPLEMENTS, BY REGION,  2022–2024 (USD/TON)
                    FIGURE 39 AVERAGE SELLING PRICE TREND FOR ANIMAL FEED, BY REGION,  2022–2024 (USD/TON)
    6.6 ECOSYSTEM ANALYSIS/MARKET MAP 
           6.6.1 SUPPLY-SIDE ANALYSIS
           6.6.2 DEMAND SIDE ANALYSIS
           FIGURE 40 PROBIOTICS MARKET MAPPING
           FIGURE 41 ECOSYSTEM MAPPING OF PROBIOTICS MARKET
           TABLE 3 PROBIOTICS MARKET: SUPPLY CHAIN (ECOSYSTEM)
    6.7 TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS 
           FIGURE 42 TRENDS/DISRUPTIONS IMPACTING CUSTOMER’S BUSINESS
    6.8 TRADE DATA ANALYSIS 
           TABLE 4 EXPORT SCENARIO FOR HS CODE 300290, BY COUNTRY, 2021–2023 (KG)
           TABLE 5 IMPORT SCENARIO FOR HS CODE 300290, BY COUNTRY, 2021–2023 (KG)
    6.9 PATENT ANALYSIS 
           FIGURE 43 NUMBER OF PATENTS GRANTED BETWEEN 2013 AND 2023
           FIGURE 44 TOP 10 INVENTORS WITH HIGHEST NUMBER OF PATENT DOCUMENTS
           TABLE 6 KEY PATENTS IN PROBIOTICS MARKET, 2023–2024
    6.1 KEY CONFERENCES & EVENTS 
    6.11 REGULATORY LANDSCAPE 
           6.11.1 PERTINENT REGULATORY FACTORS
                    6.11.1.1 North america
                               6.11.1.1.1 US
                               6.11.1.1.2 Canada
                    6.11.1.2 Europe
                    6.11.1.3 Asia pacific
                               6.11.1.3.1 Japan
                               6.11.1.3.2 Australia and New Zealand
                               6.11.1.3.3 India
                    6.11.1.4 South america
                               6.11.1.4.1 Brazil
                    6.11.1.5 Row
                               6.11.1.5.1 Middle East
                               6.11.1.5.2 Africa (South Africa)
           6.11.2 REGULATORY BODIES, GOVERNMENT AGENCIES, & OTHER ORGANIZATIONS
                    TABLE 8 NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES,  AND OTHER ORGANIZATIONS
                    TABLE 9 EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                    TABLE 10 ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES,  AND OTHER ORGANIZATIONS
    6.12 PORTER’S FIVE FORCES ANALYSIS 
                    TABLE 11 PROBIOTICS MARKET: PORTER’S FIVE FORCES ANALYSIS
                    FIGURE 45 PORTER’S FIVE FORCES ANALYSIS: PROBIOTICS MARKET
           6.12.1 THREAT OF NEW ENTRANTS
           6.12.2 THREAT OF SUBSTITUTES
           6.12.3 BARGAINING POWER OF SUPPLIERS
           6.12.4 BARGAINING POWER OF BUYERS
           6.12.5 INTENSITY OF COMPETITIVE RIVALRY
    6.13 CASE STUDIES 
           6.13.1 ADM: PROMOTED METABOLIC HEALTH WITH BIFIDOBACTERIUM ANIMALIS SUBSP. LACTIS CECT 8145 BPL1
           6.13.2 MAGNITUDE BIOSCIENCES AND AB BIOTEK HNH: PROBIOTIC DEVELOPMENT WITH ETHICAL AND HIGH-THROUGHPUT TESTING
    6.14 KEY STAKEHOLDERS AND BUYING CRITERIA 
           6.14.1 KEY STAKEHOLDERS IN BUYING PROCESS
                    FIGURE 46 INFLUENCE OF STAKEHOLDERS IN BUYING PROCESS FOR KEY PRODUCT TYPE
                    TABLE 12 INFLUENCE OF STAKEHOLDERS IN BUYING PROCESS FOR TOP THREE PRODUCT TYPES
           6.14.2 BUYING CRITERIA
                    TABLE 13 KEY CRITERIA FOR SELECTING SUPPLIERS/VENDORS, BY PRODUCT TYPE
                    FIGURE 47 KEY CRITERIA FOR SELECTING SUPPLIERS/VENDORS, BY PRODUCT TYPE
    6.15 INVESTMENT AND FUNDING SCENARIO 
                    FIGURE 48 INVESTMENT AND FUNDING SCENARIO
 
7 PROBIOTICS MARKET, BY PRODUCT TYPE (Page No. - 104)
    7.1 INTRODUCTION 
           FIGURE 49 PROBIOTICS MARKET, BY PRODUCT TYPE,  2024 VS. 2029 (USD BILLION)
           TABLE 14 PROBIOTICS MARKET, BY PRODUCT TYPE, 2020–2023 (USD BILLION)
           TABLE 15 PROBIOTICS MARKET, BY PRODUCT TYPE, 2024–2029 (USD BILLION)
           TABLE 16 PROBIOTICS MARKET, BY PRODUCT TYPE, 2020–2023 (KT)
           TABLE 17 PROBIOTICS MARKET, BY PRODUCT TYPE, 2024–2029 (KT)
    7.2 FUNCTIONAL FOOD & BEVERAGES 
           FIGURE 50 US: PREFERRED SOURCES OF PROBIOTICS CONSUMPTION, 2022
           TABLE 18 PROBIOTICS MARKET IN FUNCTIONAL FOOD & BEVERAGES, BY REGION,  2020–2023 (USD BILLION)
           TABLE 19 PROBIOTICS MARKET IN FUNCTIONAL FOOD & BEVERAGES, BY REGION,  2024–2029 (USD BILLION)
           TABLE 20 PROBIOTICS MARKET IN FUNCTIONAL FOOD & BEVERAGES, BY REGION, 2020–2023 (KT)
           TABLE 21 PROBIOTICS MARKET IN FUNCTIONAL FOOD & BEVERAGES, BY REGION, 2024–2029 (KT)
           TABLE 22 PROBIOTICS MARKET IN FUNCTIONAL FOOD & BEVERAGES, BY PRODUCT SUBTYPE,  2020–2023 (USD BILLION)
           TABLE 23 PROBIOTICS MARKET IN FUNCTIONAL FOOD & BEVERAGES, BY PRODUCT SUBTYPE,  2024–2029 (USD BILLION)
           7.2.1 DAIRY PRODUCTS
                    7.2.1.1 Popularity of dairy products and high compatibility with probiotics
           7.2.2 NONDAIRY BEVERAGES
                    7.2.2.1 Need to cater to increasing lactose-intolerant consumers
           7.2.3 INFANT FORMULA
                    7.2.3.1 Rise in consumption of fortified infant nutrition
           7.2.4 CEREALS
                    7.2.4.1 Rise in demand for ready-to-eat food items with changing consumer lifestyles
           7.2.5 OTHER FUNCTIONAL FOOD & BEVERAGES
    7.3 DIETARY SUPPLEMENTS 
           TABLE 24 PROBIOTICS MARKET IN DIETARY SUPPLEMENTS, BY REGION, 2020–2023 (USD BILLION)
           TABLE 25 PROBIOTICS MARKET IN DIETARY SUPPLEMENTS, BY REGION, 2024–2029 (USD BILLION)
           TABLE 26 PROBIOTICS MARKET IN DIETARY SUPPLEMENTS, BY REGION, 2020–2023 (KT)
           TABLE 27 PROBIOTICS MARKET IN DIETARY SUPPLEMENTS, BY REGION, 2024–2029 (KT)
           TABLE 28 PROBIOTICS MARKET IN DIETARY SUPPLEMENTS, BY PRODUCT SUBTYPE,  2020–2023 (USD BILLION)
           TABLE 29 PROBIOTICS MARKET IN DIETARY SUPPLEMENTS, BY PRODUCT SUBTYPE,  2024–2029 (USD BILLION)
           7.3.1 TABLETS
                    7.3.1.1 High shelf-life, affordability, and wide range of dosage patterns
           7.3.2 CAPSULES
                    7.3.2.1 Rapid absorption of nutrients and highly customizable
           7.3.3 POWDERS
                    7.3.3.1 Easy release of active ingredients and high stability
           7.3.4 LIQUIDS
                    7.3.4.1 Easy consumption, greater homogeneity, and high absorption in bloodstreams
           7.3.5 SOFT GELS
                    7.3.5.1 Relatively low cost and improved bioavailability
           7.3.6 GEL CAPS
                    7.3.6.1 Pure-protein, benign oral dosage form
    7.4 FEED 
           7.4.1 RISE IN TREND FOR PROVIDING PETS WITH HIGH-QUALITY AND HEALTHY WET AND DRY MEALS
                    TABLE 30 PROBIOTICS MARKET IN FEED, BY REGION, 2020–2023 (USD BILLION)
                    TABLE 31 PROBIOTICS MARKET IN FEED, BY REGION, 2024–2029 (USD BILLION)
                    TABLE 32 PROBIOTICS MARKET IN FEED, BY REGION, 2020–2023 (KT)
                    TABLE 33 PROBIOTICS MARKET IN FEED, BY REGION, 2024–2029 (KT)
 
8 PROBIOTICS MARKET, BY INGREDIENT (Page No. - 121)
    8.1 INTRODUCTION 
           TABLE 34 DIVERSITY OF PROBIOTICS
           TABLE 35 HEALTH BENEFITS OF PROBIOTIC MICROORGANISMS
           FIGURE 51 PROBIOTICS MARKET, BY INGREDIENT, 2024 VS. 2029 (USD BILLION)
           TABLE 36 PROBIOTICS MARKET, BY INGREDIENT, 2020–2023 (USD BILLION)
           TABLE 37 PROBIOTICS MARKET, BY INGREDIENT, 2024–2029 (USD BILLION)
    8.2 BACTERIA 
           TABLE 38 BACTERIAL PROBIOTICS MARKET, BY REGION, 2020–2023 (USD BILLION)
           TABLE 39 BACTERIAL PROBIOTICS MARKET, BY REGION, 2024–2029 (USD BILLION)
           TABLE 40 BACTERIAL PROBIOTICS MARKET, BY TYPE, 2020–2023 (USD BILLION)
           TABLE 41 BACTERIAL PROBIOTICS MARKET, BY TYPE, 2024–2029 (USD BILLION)
           8.2.1 LACTOBACILLI
                    8.2.1.1 Lactobacillus acidophilus
                               8.2.1.1.1 Rise in consumption of fermented foods, cheese, and yogurt
                    8.2.1.2 Lactobacillus rhamnosus
                               8.2.1.2.1 Ability to endure harsh gut conditions and reduced risk of antibiotic-associated intestinal symptoms
                    8.2.1.3 Lactobacillus casei
                               8.2.1.3.1 Broad-spectrum action against diseases caused by gastrointestinal pathogenic bacteria
                    8.2.1.4 Lactobacillus reuteri
                               8.2.1.4.1 Opportunities in preventive and therapeutic avenues against inflammatory diseases
           8.2.2 BIFIDOBACTERIUM
                    8.2.2.1 Benefits against chronic ailments, especially in infant gut health
           8.2.3 STREPTOCOCCUS THERMOPHILUS
                    8.2.3.1 Growing application of Streptococcus thermophilus in food and feed industries
           8.3 YEAST
           TABLE 42 YEAST-BASED PROBIOTICS MARKET, BY REGION, 2020–2023 (USD BILLION)
           TABLE 43 YEAST-BASED PROBIOTICS MARKET, BY REGION, 2024–2029 (USD BILLION)
           TABLE 44 YEAST-BASED PROBIOTICS MARKET, BY TYPE, 2020–2023 (USD BILLION)
           TABLE 45 YEAST-BASED PROBIOTICS MARKET, BY TYPE, 2024–2029 (USD BILLION)
           TABLE 46 BENEFICIAL EFFECTS OF YEAST
           8.3.1 SACCHAROMYCES BOULARDII
                    8.3.1.1 GI stress-resistance key in maintaining gut flora balance
           8.3.2 OTHER YEASTS
 
9 PROBIOTICS MARKET, BY DISTRIBUTION CHANNEL (Page No. - 135)
    9.1 INTRODUCTION 
           FIGURE 52 PROBIOTICS MARKET, BY DISTRIBUTION CHANNEL,  2024 VS. 2029 (USD BILLION)
           TABLE 47 PROBIOTICS MARKET, BY DISTRIBUTION CHANNEL, 2020–2023 (USD BILLION)
           TABLE 48 PROBIOTICS MARKET, BY DISTRIBUTION CHANNEL, 2024–2029 (USD BILLION)
    9.2 HYPERMARKETS/SUPERMARKETS 
           9.2.1 EXPANSION OF SUPERMARKETS IN ASIA PACIFIC
                    TABLE 49 PROBIOTICS MARKET IN HYPERMARKETS/SUPERMARKETS, BY REGION,  2020–2023 (USD BILLION)
                    TABLE 50 PROBIOTICS MARKET IN HYPERMARKETS/SUPERMARKETS, BY REGION,  2024–2029 (USD BILLION)
    9.3 PHARMACIES/DRUGSTORES 
           9.3.1 RISE IN AWARENESS FOR PROBIOTIC SUPPLEMENTS IN DEVELOPED COUNTRIES TO POPULARIZE PHARMACIES
                    TABLE 51 PROBIOTICS MARKET IN PHARMACIES/DRUGSTORES, BY REGION,  2020–2023 (USD BILLION)
                    TABLE 52 PROBIOTICS MARKET IN PHARMACIES/DRUGSTORES, BY REGION,  2024–2029 (USD BILLION)
    9.4 SPECIALTY STORES 
           9.4.1 PROBIOTIC SALES FUELED BY PROPER STORAGE AND  TRANSPARENT LABELING
                    TABLE 53 PROBIOTICS MARKET IN SPECIALTY STORES, BY REGION, 2020–2023 (USD BILLION)
                    TABLE 54 PROBIOTICS MARKET IN SPECIALTY STORES, BY REGION, 2024–2029 (USD BILLION)
    9.5 ONLINE 
           9.5.1 ONLINE SALES SURGE DUE TO CONVENIENCE, HEALTH FOCUS, AND STRONG BRAND LOYALTY AMONG CONSUMERS
                    TABLE 55 PROBIOTICS MARKET IN ONLINE CHANNELS, BY REGION, 2020–2023 (USD BILLION)
                    TABLE 56 PROBIOTICS MARKET IN ONLINE CHANNELS, BY REGION, 2024–2029 (USD BILLION)
    9.6 CONVENIENCE STORES/SMALL RETAIL FORMATS 
           9.6.1 EASY ACCESS FOR CONSUMERS ENCOURAGING PURCHASE
                    TABLE 57 PROBIOTICS MARKET IN CONVENIENCE STORES/SMALL RETAIL FORMATS, BY REGION,  2020–2023 (USD BILLION)
                    TABLE 58 PROBIOTICS MARKET IN CONVENIENCE STORES/SMALL RETAIL FORMATS, BY REGION,  2024–2029 (USD BILLION)
 
10 PROBIOTICS MARKET, BY END USER (Page No. - 143)
     10.1 INTRODUCTION 
               FIGURE 53 HUMAN CONSUMPTION TO DOMINATE MARKET FROM  2024 TO 2029 (USD BILLION)
               TABLE 59 PROBIOTICS MARKET, BY END USER, 2020–2023 (USD BILLION)
               TABLE 60 PROBIOTICS MARKET, BY END USER, 2024–2029 (USD BILLION)
     10.2 HUMAN 
             10.2.1 RISING TREND OF CONSUMING FUNCTIONAL FOODS DUE TO HEALTH CONSCIOUSNESS
                       FIGURE 54 FREQUENCY OF PROBIOTIC CONSUMPTION AMONG USERS
                       TABLE 61 PROBIOTICS MARKET FOR HUMAN USE, BY REGION, 2020–2023 (USD BILLION)
                       TABLE 62 PROBIOTICS MARKET FOR HUMAN USE, BY REGION, 2024–2029 (USD BILLION)
     10.3 ANIMAL 
             10.3.1 BAN ON SYNTHETIC ANTIBIOTICS TO BOOST MARKET IN FEED
                       TABLE 63 BENEFITS ASSOCIATED WITH ADMINISTRATION OF PROBIOTICS IN ANIMAL FEED
                       TABLE 64 PROBIOTICS MARKET FOR ANIMAL USE, BY REGION, 2020–2023 (USD BILLION)
                       TABLE 65 PROBIOTICS MARKET FOR ANIMAL USE, BY REGION, 2024–2029 (USD BILLION)
 
11 PROBIOTICS MARKET, BY REGION (Page No. - 150)
     11.1 INTRODUCTION 
               FIGURE 55 RAPIDLY GROWING MARKETS TO EMERGE AS NEW HOT SPOTS
               TABLE 66 PROBIOTICS MARKET, BY REGION, 2020–2023 (USD BILLION)
               TABLE 67 PROBIOTICS MARKET, BY REGION, 2024–2029 (USD BILLION)
               TABLE 68 PROBIOTICS MARKET, BY REGION, 2020–2023 (KT)
               TABLE 69 PROBIOTICS MARKET, BY REGION, 2024–2029 (KT)
     11.2 NORTH AMERICA 
             11.2.1 NORTH AMERICA: RECESSION IMPACT ANALYSIS
                       FIGURE 56 NORTH AMERICA: INFLATION DATA, BY KEY COUNTRY, 2017–2022
                       FIGURE 57 NORTH AMERICA: RECESSION IMPACT ANALYSIS
                       TABLE 70 NORTH AMERICA: PROBIOTICS MARKET, BY COUNTRY, 2020–2023 (USD BILLION)
                       TABLE 71 NORTH AMERICA: PROBIOTICS MARKET, BY COUNTRY, 2024–2029 (USD BILLION)
                       TABLE 72 NORTH AMERICA: PROBIOTICS MARKET, BY PRODUCT TYPE,  2020–2023 (USD BILLION)
                       TABLE 73 NORTH AMERICA: PROBIOTICS MARKET, BY PRODUCT TYPE, 2024–2029 (USD BILLION)
                       TABLE 74 NORTH AMERICA: PROBIOTICS MARKET, BY PRODUCT TYPE, 2020–2023 (KT)
                       TABLE 75 NORTH AMERICA: PROBIOTICS MARKET, BY PRODUCT TYPE, 2024–2029 (KT)
                       TABLE 76 NORTH AMERICA: PROBIOTICS MARKET IN FUNCTIONAL FOOD & BEVERAGES,  BY PRODUCT SUBTYPE, 2020–2023 (USD BILLION)
                       TABLE 77 NORTH AMERICA: PROBIOTICS MARKET IN FUNCTIONAL FOOD & BEVERAGES,  BY PRODUCT SUBTYPE, 2024–2029 (USD BILLION)
                       TABLE 78 NORTH AMERICA: PROBIOTICS MARKET, BY DISTRIBUTION CHANNEL,  2020–2023 (USD BILLION)
                       TABLE 79 NORTH AMERICA: PROBIOTICS MARKET, BY DISTRIBUTION CHANNEL,  2024–2029 (USD BILLION)
                       TABLE 80 NORTH AMERICA: PROBIOTICS MARKET, BY END USER, 2020–2023 (USD BILLION)
                       TABLE 81 NORTH AMERICA: PROBIOTICS MARKET, BY END USER, 2024–2029 (USD BILLION)
                       TABLE 82 NORTH AMERICA: PROBIOTICS MARKET, BY INGREDIENT,  2020–2023 (USD BILLION)
                       TABLE 83 NORTH AMERICA: PROBIOTICS MARKET, BY INGREDIENT,  2024–2029 (USD BILLION)
             11.2.2 US
                       11.2.2.1 Rise in digestive health awareness
                                   TABLE 84 US: PROBIOTICS MARKET, BY PRODUCT TYPE, 2020–2023 (USD MILLION)
                                   TABLE 85 US: PROBIOTICS MARKET, BY PRODUCT TYPE, 2024–2029 (USD MILLION)
             11.2.3 CANADA
                       11.2.3.1 Demand for high-quality and innovative feed products to accelerate probiotics production and consumption
                                   TABLE 86 CANADA: PROBIOTICS MARKET, BY PRODUCT TYPE, 2020–2023 (USD MILLION)
                                   TABLE 87 CANADA: PROBIOTICS MARKET, BY PRODUCT TYPE, 2024–2029 (USD MILLION)
             11.2.4 MEXICO
                       11.2.4.1 Consumer inclination toward healthy diets
                                   TABLE 88 MEXICO: PROBIOTICS MARKET, BY PRODUCT TYPE, 2020–2023 (USD MILLION)
                                   TABLE 89 MEXICO: PROBIOTICS MARKET, BY PRODUCT TYPE, 2024–2029 (USD MILLION)
     11.3 EUROPE 
               FIGURE 58 EUROPE: MARKET SNAPSHOT
             11.3.1 EUROPE: RECESSION IMPACT ANALYSIS
                       FIGURE 59 EUROPE: INFLATION DATA, BY KEY COUNTRY, 2017–2022
                       FIGURE 60 EUROPE: RECESSION IMPACT ANALYSIS
                       TABLE 90 EUROPE: PROBIOTICS MARKET, BY COUNTRY, 2020–2023 (USD BILLION)
                       TABLE 91 EUROPE: PROBIOTICS MARKET, BY COUNTRY, 2024–2029 (USD BILLION)
                       TABLE 92 EUROPE: PROBIOTICS MARKET, BY PRODUCT TYPE, 2020–2023 (USD BILLION)
                       TABLE 93 EUROPE: PROBIOTICS MARKET, BY PRODUCT TYPE, 2024–2029 (USD BILLION)
                       TABLE 94 EUROPE: PROBIOTICS MARKET, BY PRODUCT TYPE, 2020–2023 (KT)
                       TABLE 95 EUROPE: PROBIOTICS MARKET, BY PRODUCT TYPE, 2024–2029 (KT)
                       TABLE 96 EUROPE: PROBIOTICS MARKET IN FUNCTIONAL FOOD & BEVERAGES, BY PRODUCT SUBTYPE, 2020–2023 (USD BILLION)
                       TABLE 97 EUROPE: PROBIOTICS MARKET IN FUNCTIONAL FOOD & BEVERAGES, BY PRODUCT SUBTYPE, 2024–2029 (USD BILLION)
                       TABLE 98 EUROPE: PROBIOTICS MARKET, BY DISTRIBUTION CHANNEL,  2020–2023 (USD BILLION)
                       TABLE 99 EUROPE: PROBIOTICS MARKET, BY DISTRIBUTION CHANNEL,  2024–2029 (USD BILLION)
                       TABLE 100 EUROPE: PROBIOTICS MARKET, BY END USER, 2020–2023 (USD BILLION)
                       TABLE 101 EUROPE: PROBIOTICS MARKET, BY END USER, 2024–2029 (USD BILLION)
                       TABLE 102 EUROPE: PROBIOTICS MARKET, BY INGREDIENT, 2020–2023 (USD BILLION)
                       TABLE 103 EUROPE: PROBIOTICS MARKET, BY INGREDIENT, 2024–2029 (USD BILLION)
             11.3.2 RUSSIA
                       11.3.2.1 Highly regulated probiotic landscape
                                   TABLE 104 RUSSIA: PROBIOTICS MARKET, BY PRODUCT TYPE, 2020–2023 (USD MILLION)
                                   TABLE 105 RUSSIA: PROBIOTICS MARKET, BY PRODUCT TYPE, 2024–2029 (USD MILLION)
             11.3.3 UK
                       11.3.3.1 Shift toward natural foods that support digestive health
                                   TABLE 106 UK: PROBIOTICS MARKET, BY PRODUCT TYPE, 2020–2023 (USD MILLION)
                                   TABLE 107 UK: PROBIOTICS MARKET, BY PRODUCT TYPE, 2024–2029 (USD MILLION)
             11.3.4 ITALY
                       11.3.4.1 Preference for cheese and awareness about health benefits of probiotics
                                   TABLE 108 ITALY: PROBIOTICS MARKET, BY PRODUCT TYPE, 2020–2023 (USD MILLION)
                                   TABLE 109 ITALY: PROBIOTICS MARKET, BY PRODUCT TYPE, 2024–2029 (USD MILLION)
             11.3.5 GERMANY
                       11.3.5.1 Preference for probiotic yogurts and yogurt drinks and opportunity for use in poultry feed
                                   TABLE 110 GERMANY: PROBIOTICS MARKET, BY PRODUCT TYPE, 2020–2023 (USD MILLION)
                                   TABLE 111 GERMANY: PROBIOTICS MARKET, BY PRODUCT TYPE, 2024–2029 (USD MILLION)
             11.3.6 SPAIN
                       11.3.6.1 Growing interest in health and wellness products among consumers to spur investment by companies
                                   TABLE 112 SPAIN: PROBIOTICS MARKET, BY PRODUCT TYPE, 2020–2023 (USD MILLION)
                                   TABLE 113 SPAIN: PROBIOTICS MARKET, BY PRODUCT TYPE, 2024–2029 (USD MILLION)
             11.3.7 REST OF EUROPE
                       TABLE 114 REST OF EUROPE: PROBIOTICS MARKET, BY PRODUCT TYPE,  2020–2023 (USD MILLION)
                       TABLE 115 REST OF EUROPE: PROBIOTICS MARKET, BY PRODUCT TYPE,  2024–2029 (USD MILLION)
     11.4 ASIA PACIFIC 
               FIGURE 61 ASIA PACIFIC: MARKET SNAPSHOT
             11.4.1 ASIA PACIFIC: RECESSION IMPACT ANALYSIS
                       FIGURE 62 ASIA PACIFIC: INFLATION DATA, BY KEY COUNTRY, 2017–2022
                       FIGURE 63 ASIA PACIFIC: RECESSION IMPACT ANALYSIS
                       TABLE 116 ASIA PACIFIC: PROBIOTICS MARKET, BY COUNTRY/REGION, 2020–2023 (USD BILLION)
                       TABLE 117 ASIA PACIFIC: PROBIOTICS MARKET, BY COUNTRY/REGION, 2024–2029 (USD BILLION)
                       TABLE 118 ASIA PACIFIC: PROBIOTICS MARKET, BY PRODUCT TYPE, 2020–2023 (USD BILLION)
                       TABLE 119 ASIA PACIFIC: PROBIOTICS MARKET, BY PRODUCT TYPE, 2024–2029 (USD BILLION)
                       TABLE 120 ASIA PACIFIC: PROBIOTICS MARKET, BY PRODUCT TYPE, 2020–2023 (KT)
                       TABLE 121 ASIA PACIFIC: PROBIOTICS MARKET, BY PRODUCT TYPE, 2024–2029 (KT)
                       TABLE 122 ASIA PACIFIC: PROBIOTICS MARKET IN FUNCTIONAL FOOD & BEVERAGES, BY PRODUCT SUBTYPE, 2020–2023 (USD BILLION)
                       TABLE 123 ASIA PACIFIC: PROBIOTICS MARKET IN FUNCTIONAL FOOD & BEVERAGES, BY PRODUCT SUBTYPE, 2024–2029 (USD BILLION)
                       TABLE 124 ASIA PACIFIC: PROBIOTICS MARKET, BY DISTRIBUTION CHANNEL,  2020–2023 (USD BILLION)
                       TABLE 125 ASIA PACIFIC: PROBIOTICS MARKET, BY DISTRIBUTION CHANNEL,  2024–2029 (USD BILLION)
                       TABLE 126 ASIA PACIFIC: PROBIOTICS MARKET, BY END USER, 2020–2023 (USD BILLION)
                       TABLE 127 ASIA PACIFIC: PROBIOTICS MARKET, BY END USER, 2024–2029 (USD BILLION)
                       TABLE 128 ASIA PACIFIC: PROBIOTICS MARKET, BY INGREDIENT, 2020–2023 (USD BILLION)
                       TABLE 129 ASIA PACIFIC: PROBIOTICS MARKET, BY INGREDIENT, 2024–2029 (USD BILLION)
             11.4.2 CHINA
                       11.4.2.1 Strategic moves by players to tap high sales potential of probiotics
                                   TABLE 130 CHINA: PROBIOTICS MARKET, BY PRODUCT TYPE, 2020–2023 (USD MILLION)
                                   TABLE 131 CHINA: PROBIOTICS MARKET, BY PRODUCT TYPE, 2024–2029 (USD MILLION)
             11.4.3 JAPAN
                       11.4.3.1 Focus on digestive well-being of aging population
                                   TABLE 132 JAPAN: PROBIOTICS MARKET, BY PRODUCT TYPE, 2020–2023 (USD MILLION)
                                   TABLE 133 JAPAN: PROBIOTICS MARKET, BY PRODUCT TYPE, 2024–2029 (USD MILLION)
             11.4.4 INDIA
                       11.4.4.1 Increased focus on women’s nutrition and post-COVID-19 consumer preference for functional food
                                   TABLE 134 INDIA: PROBIOTICS MARKET, BY PRODUCT TYPE, 2020–2023 (USD MILLION)
                                   TABLE 135 INDIA: PROBIOTICS MARKET, BY PRODUCT TYPE, 2024–2029 (USD MILLION)
             11.4.5 AUSTRALIA & NEW ZEALAND
                       11.4.5.1 Aging population and consumer awareness to drive clinical trials and retail sales
                                   TABLE 136 AUSTRALIA & NEW ZEALAND: PROBIOTICS MARKET, BY PRODUCT TYPE,  2020–2023 (USD MILLION)
                                   TABLE 137 AUSTRALIA & NEW ZEALAND: PROBIOTICS MARKET, BY PRODUCT TYPE,  2024–2029 (USD MILLION)
             11.4.6 REST OF ASIA PACIFIC
                       TABLE 138 REST OF ASIA PACIFIC: PROBIOTICS MARKET, BY PRODUCT TYPE,  2020–2023 (USD MILLION)
                       TABLE 139 REST OF ASIA PACIFIC: PROBIOTICS MARKET, BY PRODUCT TYPE,  2024–2029 (USD MILLION)
     11.5 SOUTH AMERICA 
             11.5.1 SOUTH AMERICA: RECESSION IMPACT ANALYSIS
                       FIGURE 64 SOUTH AMERICA: INFLATION DATA, BY COUNTRY, 2017–2022
                       FIGURE 65 SOUTH AMERICA: RECESSION IMPACT ANALYSIS
                       TABLE 140 SOUTH AMERICA: PROBIOTICS MARKET, BY COUNTRY, 2020–2023 (USD BILLION)
                       TABLE 141 SOUTH AMERICA: PROBIOTICS MARKET, BY COUNTRY, 2024–2029 (USD BILLION)
                       TABLE 142 SOUTH AMERICA: PROBIOTICS MARKET, BY PRODUCT TYPE,  2020–2023 (USD BILLION)
                       TABLE 143 SOUTH AMERICA: PROBIOTICS MARKET, BY PRODUCT TYPE,  2024–2029 (USD BILLION)
                       TABLE 144 SOUTH AMERICA: PROBIOTICS MARKET, BY PRODUCT TYPE, 2020–2023 (KT)
                       TABLE 145 SOUTH AMERICA: PROBIOTICS MARKET, BY PRODUCT TYPE, 2024–2029 (KT)
                       TABLE 146 SOUTH AMERICA: PROBIOTICS MARKET IN FUNCTIONAL FOOD & BEVERAGES,  BY PRODUCT SUBTYPE, 2020–2023 (USD BILLION)
                       TABLE 147 SOUTH AMERICA: PROBIOTICS MARKET IN FUNCTIONAL FOOD & BEVERAGES,  BY PRODUCT SUBTYPE, 2024–2029 (USD BILLION)
                       TABLE 148 SOUTH AMERICA: PROBIOTICS MARKET, BY DISTRIBUTION CHANNEL,  2020–2023 (USD BILLION)
                       TABLE 149 SOUTH AMERICA: PROBIOTICS MARKET, BY DISTRIBUTION CHANNEL,  2024–2029 (USD BILLION)
                       TABLE 150 SOUTH AMERICA: PROBIOTICS MARKET, BY END USER, 2020–2023 (USD BILLION)
                       TABLE 151 SOUTH AMERICA: PROBIOTICS MARKET, BY END USER, 2024–2029 (USD BILLION)
                       TABLE 152 SOUTH AMERICA: PROBIOTICS MARKET, BY INGREDIENT,  2020–2023 (USD BILLION)
                       TABLE 153 SOUTH AMERICA: PROBIOTICS MARKET, BY INGREDIENT,  2024–2029 (USD BILLION)
             11.5.2 BRAZIL
                       11.5.2.1 Rise in health awareness and meat exports to EU
                                   TABLE 154 BRAZIL: PROBIOTICS MARKET, BY PRODUCT TYPE, 2020–2023 (USD MILLION)
                                   TABLE 155 BRAZIL: PROBIOTICS MARKET, BY PRODUCT TYPE, 2024–2029 (USD MILLION)
             11.5.3 ARGENTINA
                       11.5.3.1 Increase in industrialization of meat processing and dairy productivity
                                   TABLE 156 ARGENTINA: PROBIOTICS MARKET, BY PRODUCT TYPE, 2020–2023 (USD MILLION)
                                   TABLE 157 ARGENTINA: PROBIOTICS MARKET, BY PRODUCT TYPE, 2024–2029 (USD MILLION)
             11.5.4 REST OF SOUTH AMERICA
                       TABLE 158 REST OF SOUTH AMERICA: PROBIOTICS MARKET, BY PRODUCT TYPE,  2020–2023 (USD MILLION)
                       TABLE 159 REST OF SOUTH AMERICA: PROBIOTICS MARKET, BY PRODUCT TYPE,  2024–2029 (USD MILLION)
     11.6 REST OF THE WORLD (ROW) 
             11.6.1 ROW: RECESSION IMPACT ANALYSIS
                       FIGURE 66 ROW: INFLATION DATA, BY SUBREGION, 2017–2022
                       FIGURE 67 ROW: RECESSION IMPACT ANALYSIS
                       TABLE 160 ROW: PROBIOTICS MARKET, BY REGION, 2020–2023 (USD BILLION)
                       TABLE 161 ROW: PROBIOTICS MARKET, BY REGION, 2024–2029 (USD BILLION)
                       TABLE 162 ROW: PROBIOTICS MARKET, BY PRODUCT TYPE,  2020–2023 (USD BILLION)
                       TABLE 163 ROW: PROBIOTICS MARKET, BY PRODUCT TYPE,  2024–2029 (USD BILLION)
                       TABLE 164 ROW: PROBIOTICS MARKET, BY PRODUCT TYPE, 2020–2023 (KT)
                       TABLE 165 ROW: PROBIOTICS MARKET, BY PRODUCT TYPE, 2024–2029 (KT)
                       TABLE 166 ROW: PROBIOTICS MARKET IN FUNCTIONAL FOOD & BEVERAGES, BY PRODUCT SUBTYPE, 2020–2023 (USD BILLION)
                       TABLE 167 ROW: PROBIOTICS MARKET IN FUNCTIONAL FOOD & BEVERAGES, BY PRODUCT SUBTYPE, 2024–2029 (USD BILLION)
                       TABLE 168 ROW: PROBIOTICS MARKET, BY DISTRIBUTION CHANNEL,  2020–2023 (USD BILLION)
                       TABLE 169 ROW: PROBIOTICS MARKET, BY DISTRIBUTION CHANNEL,  2024–2029 (USD BILLION)
                       TABLE 170 ROW: PROBIOTICS MARKET, BY END USER,  2020–2023 (USD BILLION)
                       TABLE 171 ROW: PROBIOTICS MARKET, BY END USER,  2024–2029 (USD BILLION)
                       TABLE 172 ROW: PROBIOTICS MARKET, BY INGREDIENT,  2020–2023 (USD BILLION)
                       TABLE 173 ROW: PROBIOTICS MARKET, BY INGREDIENT,  2024–2029 (USD BILLION)
             11.6.2 MIDDLE EAST
                       11.6.2.1 Demand for quality feed, high consumption of feed, and demand for yogurt
                                   TABLE 174 MIDDLE EAST: PROBIOTICS MARKET, BY PRODUCT TYPE,  2020–2023 (USD MILLION)
                                   TABLE 175 MIDDLE EAST: PROBIOTICS MARKET, BY PRODUCT TYPE,  2024–2029 (USD MILLION)
             11.6.3 AFRICA
                       11.6.3.1 Investments in pharmaceutical companies to increase with  intra-African trade
                                   TABLE 176 AFRICA: PROBIOTICS MARKET, BY PRODUCT TYPE, 2020–2023 (USD MILLION)
                                   TABLE 177 AFRICA: PROBIOTICS MARKET, BY PRODUCT TYPE, 2024–2029 (USD MILLION)
 
12 COMPETITIVE LANDSCAPE (Page No. - 206)
     12.1 OVERVIEW 
     12.2 KEY PLAYERS’ STRATEGIES/RIGHT TO WIN 
               TABLE 178 STRATEGIES ADOPTED BY KEY PLAYERS IN PROBIOTICS MARKET
     12.3 REVENUE ANALYSIS 
               FIGURE 68 REVENUE ANALYSIS OF KEY MARKET PLAYERS, 2020–2022 (USD BILLION)
     12.4 MARKET SHARE ANALYSIS 
               FIGURE 69 MARKET SHARE OF LEADING COMPANIES IN PROBIOTICS MARKET  (GLOBAL), 2023
               TABLE 179 PROBIOTICS MARKET: DEGREE OF COMPETITION
     12.5 COMPANY VALUATION AND FINANCIAL METRICS 
               FIGURE 70 PROBIOTICS MARKET: COMPANY VALUATION (USD BILLION)
               FIGURE 71 PROBIOTICS MARKET: EV/EBITDA, 2022 (USD BILLION)
     12.6 BRAND/PRODUCT COMPARISON 
               FIGURE 72 PROBIOTICS MARKET: BRAND/PRODUCT COMPARISON
             12.6.1 DIVERSE PROBIOTIC SOLUTIONS FUELING MARKET GROWTH
                       12.6.1.1 Nestlé Cerelac
                       12.6.1.2 Danone’s Activia
                       12.6.1.3 Yakult
                       12.6.1.4 LG21 by Meiji Holding Inc.
                       12.6.1.5 HOWARU by IFF Health
     12.7 COMPANY EVALUATION MATRIX: KEY PLAYERS, 2023 
             12.7.1 STARS
             12.7.2 EMERGING LEADERS
             12.7.3 PERVASIVE PLAYERS
             12.7.4 PARTICIPANTS
                       FIGURE 73 PROBIOTICS MARKET: COMPANY EVALUATION MATRIX (KEY PLAYERS), 2023
             12.7.5 COMPANY FOOTPRINT: KEY PLAYERS, 2023
                       12.7.5.1 Company footprint
                                   FIGURE 74 PROBIOTICS MARKET: COMPANY FOOTPRINT, 2023
                       12.7.5.2 Product type footprint
                                   TABLE 180 PROBIOTICS MARKET: PRODUCT TYPE FOOTPRINT
                       12.7.5.3 End user footprint
                                   TABLE 181 PROBIOTICS MARKET: END USER FOOTPRINT
                       12.7.5.4 Region footprint
                                   TABLE 182 PROBIOTICS MARKET: REGION FOOTPRINT
     12.8 COMPANY EVALUATION MATRIX: STARTUP/SMES, 2023 
             12.8.1 PROGRESSIVE COMPANIES
             12.8.2 RESPONSIVE COMPANIES
             12.8.3 DYNAMIC COMPANIES
             12.8.4 STARTING BLOCKS
                       FIGURE 75 PROBIOTICS MARKET: COMPANY EVALUATION MATRIX (STARTUPS/SMES), 2023
             12.8.5 COMPETITIVE BENCHMARKING: STARTUPS/SMES
                       12.8.5.1 Detailed list of key startup/smes
                                   TABLE 183 PROBIOTICS MARKET: KEY STARTUP/SMES, 2023
                       12.8.5.2 Competitive benchmarking of key startup/SMEs
            TABLE 184 PROBIOTICS MARKET: COMPETITIVE BENCHMARKING OF KEY STARTUP/SMES
     12.9 COMPETITIVE SCENARIO AND TRENDS 
             12.9.1 PRODUCT LAUNCHES
                       TABLE 185 PROBIOTICS MARKET: PRODUCT LAUNCHES, JANUARY 2019–FEBRUARY 2024
             12.9.2 DEALS
                       TABLE 186 PROBIOTICS MARKET: DEALS, JANUARY 2019–FEBRUARY 2024
             12.9.3 OTHERS
                       TABLE 187 PROBIOTICS MARKET: EXPANSIONS, JANUARY 2019–FEBRUARY 2024
                       TABLE 188 PROBIOTICS MARKET: OTHERS, JANUARY 2019–FEBRUARY 2024
 
13 COMPANY PROFILES (Page No. - 243)
     13.1 KEY PLAYERS 
(Business Overview, Products Offered, Recent Developments, and MnM View (Key strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats))*
             13.1.1 PROBI
                       TABLE 189 PROBI: BUSINESS OVERVIEW
                       FIGURE 76 PROBI: COMPANY SNAPSHOT
                       TABLE 190 PROBI: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                       TABLE 191 PROBI: PRODUCT LAUNCHES
                       TABLE 192 PROBI: DEALS
             13.1.2 NESTLÉ
                       TABLE 193 NESTLÉ: BUSINESS OVERVIEW
                       FIGURE 77 NESTLÉ: COMPANY SNAPSHOT
                       TABLE 194 NESTLÉ: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                       TABLE 195 NESTLÉ: PRODUCT LAUNCHES
                       TABLE 196 NESTLÉ: DEALS
             13.1.3 ADM
                       TABLE 197 ADM: BUSINESS OVERVIEW
                       FIGURE 78 ADM: COMPANY SNAPSHOT
                       TABLE 198 ADM: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                       TABLE 199 ADM: DEALS
                       TABLE 200 ADM: EXPANSIONS
             13.1.4 DANONE
                       TABLE 201 DANONE: BUSINESS OVERVIEW
                       FIGURE 79 DANONE: COMPANY SNAPSHOT
                       TABLE 202 DANONE: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                       TABLE 203 DANONE: PRODUCT LAUNCHES
                       TABLE 204 DANONE: EXPANSIONS
             13.1.5 INTERNATIONAL FLAVORS & FRAGRANCES INC.
                       TABLE 205 INTERNATIONAL FLAVORS & FRAGRANCES INC.: BUSINESS OVERVIEW
                       FIGURE 80 INTERNATIONAL FLAVORS & FRAGRANCES INC.: COMPANY SNAPSHOT
                       TABLE 206 INTERNATIONAL FLAVORS & FRAGRANCES INC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                       TABLE 207 INTERNATIONAL FLAVORS & FRAGRANCES INC.: DEALS
                       TABLE 208 INTERNATIONAL FLAVORS & FRAGRANCES INC.: EXPANSIONS
             13.1.6 YAKULT HONSHA CO., LTD.
                       TABLE 209 YAKULT HONSHA CO., LTD.: BUSINESS OVERVIEW
                       FIGURE 81 YAKULT HONSHA CO., LTD.: COMPANY SNAPSHOT
                       TABLE 210 YAKULT HONSHA CO., LTD.: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                       TABLE 211 YAKULT HONSHA CO., LTD.: PRODUCT LAUNCHES
                       TABLE 212 YAKULT HONSHA CO., LTD.: DEALS
                       TABLE 213 YAKULT HONSHA CO., LTD.: EXPANSIONS
             13.1.7 BIOGAIA
                       TABLE 214 BIOGAIA: BUSINESS OVERVIEW
                       FIGURE 82 BIOGAIA: COMPANY SNAPSHOT
                       TABLE 215 BIOGAIA: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                       TABLE 216 BIOGAIA: PRODUCT LAUNCHES
                       TABLE 217 BIOGAIA: DEALS
                       TABLE 218 BIOGAIA: EXPANSIONS
             13.1.8 MORINAGA MILK INDUSTRY CO., LTD.
                       TABLE 219 MORINAGA MILK INDUSTRY CO., LTD.: BUSINESS OVERVIEW
                       FIGURE 83 MORINAGA MILK INDUSTRY CO., LTD.: COMPANY SNAPSHOT
                       TABLE 220 MORINAGA MILK INDUSTRY CO., LTD.: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                       TABLE 221 MORINAGA MILK INDUSTRY CO., LTD.: PRODUCT LAUNCHES
                       TABLE 222 MORINAGA MILK INDUSTRY CO., LTD.: OTHERS
                       TABLE 223 MORINAGA MILK INDUSTRY CO., LTD.: EXPANSIONS
             13.1.9 MEIJI HOLDINGS CO., LTD.
                       TABLE 224 MEIJI HOLDINGS CO., LTD.: BUSINESS OVERVIEW
                       FIGURE 84 MEIJI HOLDINGS CO., LTD.: COMPANY SNAPSHOT
                       TABLE 225 MEIJI HOLDINGS CO., LTD.: PRODUCTS/SOLUTIONS/SERVICES OFFERED
             13.1.10 LIFEWAY FOODS, INC.
                                   TABLE 226 LIFEWAY FOODS, INC.: BUSINESS OVERVIEW
                                   FIGURE 85 LIFEWAY FOODS, INC.: COMPANY SNAPSHOT
                                   TABLE 227 LIFEWAY FOODS, INC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                                   TABLE 228 LIFEWAY FOODS, INC.: DEALS
             13.1.11 ADISSEO
                                   TABLE 229 ADISSEO: BUSINESS OVERVIEW
                                   FIGURE 86 ADISSEO: COMPANY SNAPSHOT
                                   TABLE 230 ADISSEO: PRODUCTS/SOLUTIONS/SERVICES OFFERED
             13.1.12 WINCLOVE PROBIOTICS
                                   TABLE 231 WINCLOVE PROBIOTICS: BUSINESS OVERVIEW
                                   TABLE 232 WINCLOVE PROBIOTICS: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                                   TABLE 233 WINCLOVE PROBIOTICS: DEALS
                                   TABLE 234 WINCLOVE PROBIOTICS: EXPANSIONS
             13.1.13 AB-BIOTICS, S.A.
                                   TABLE 235 AB-BIOTICS, S.A.: BUSINESS OVERVIEW
                                   TABLE 236 AB-BIOTICS, S.A.: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                                   TABLE 237 AB-BIOTICS, S.A.: DEALS
             13.1.14 APSEN FARMACÊUTICA
                                   TABLE 238 APSEN FARMACÊUTICA: BUSINESS OVERVIEW
                                   TABLE 239 APSEN FARMACÊUTICA: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                                   TABLE 240 APSEN FARMACÊUTICA: PRODUCT LAUNCHES
                                   TABLE 241 APSEN FARMACÊUTICA: DEALS
             13.1.15 LALLEMAND
                                   TABLE 242 LALLEMAND: BUSINESS OVERVIEW
                                   TABLE 243 LALLEMAND: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                                   TABLE 244 LALLEMAND: DEALS
                                   TABLE 245 LALLEMAND: EXPANSIONS
     13.2 STARTUP/SME PLAYERS 
             13.2.1 ELANCO
                       TABLE 246 ELANCO: BUSINESS OVERVIEW
                       FIGURE 87 ELANCO: COMPANY SNAPSHOT
                       TABLE 247 ELANCO: PRODUCTS/SOLUTIONS/SERVICES OFFERED
             13.2.2 NEXTFOODS, INC.
                       TABLE 248 NEXTFOODS, INC.: BUSINESS OVERVIEW
                       TABLE 249 NEXTFOODS, INC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                       TABLE 250 NEXTFOODS, INC.: DEALS
             13.2.3 I-HEALTH, INC.
                       TABLE 251 I-HEALTH, INC.: BUSINESS OVERVIEW
                       TABLE 252 I-HEALTH, INC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED
             13.2.4 SUJA LIFE, LLC.
                       TABLE 253 SUJA LIFE, LLC.: BUSINESS OVERVIEW
                       TABLE 254 SUJA LIFE, LLC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                       TABLE 255 SUJA LIFE, LLC.: DEALS
             13.2.5 RENEW LIFE FORMULAS, LLC
                       TABLE 256 RENEW LIFE FORMULAS, LLC.: BUSINESS OVERVIEW
                       TABLE 257 RENEW LIFE FORMULAS, LLC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED
             13.2.6 BIOHM HEALTH
                       TABLE 258 BIOHM HEALTH: BUSINESS OVERVIEW
             13.2.7 SUN GENOMICS
                       TABLE 259 SUN GENOMICS: BUSINESS OVERVIEW
             13.2.8 UNIQUE BIOTECH LTD
                       TABLE 260 UNIQUE BIOTECH LTD: BUSINESS OVERVIEW
             13.2.9 SO GOOD SO YOU
                       TABLE 261 SO GOOD SO YOU: BUSINESS OVERVIEW
             13.2.10 PROTOCOL FOR LIFE BALANCE
                                   TABLE 262 PROTOCOL FOR LIFE BALANCE: BUSINESS OVERVIEW
*Details on Business Overview, Products Offered, Recent Developments, and MnM View (Key strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats) might not be captured in case of unlisted companies.
 
14 ADJACENT AND RELATED MARKETS (Page No. - 343)
     14.1 INTRODUCTION 
               TABLE 263 ADJACENT MARKETS TO PROBIOTICS
     14.2 RESEARCH LIMITATIONS 
     14.3 DIETARY SUPPLEMENT MARKET 
             14.3.1 MARKET DEFINITION
             14.3.2 MARKET OVERVIEW
                       TABLE 264 DIETARY SUPPLEMENTS MARKET, BY TYPE, 2018–2022 (USD MILLION)
                       TABLE 265 DIETARY SUPPLEMENTS MARKET, BY TYPE, 2023–2028 (USD MILLION)
     14.4 BONE & JOINT HEALTH SUPPLEMENTS MARKET 
             14.4.1 MARKET DEFINITION
             14.4.2 MARKET OVERVIEW
                       TABLE 266 BONE & JOINT HEALTH SUPPLEMENTS MARKET, BY TYPE, 2017–2021 (USD MILLION)
                       TABLE 267 BONE & JOINT HEALTH SUPPLEMENTS MARKET, BY TYPE, 2022–2027 (USD MILLION)
 
15 APPENDIX (Page No. - 347)
     15.1 DISCUSSION GUIDE 
     15.2 KNOWLEDGESTORE: MARKETSANDMARKETS’  SUBSCRIPTION PORTAL 
     15.3 CUSTOMIZATION OPTIONS 
     15.4 RELATED REPORTS 
     15.5 AUTHOR DETAILS 

This research involves the extensive use of secondary sources; directories; and databases (Bloomberg and Factiva) to identify and collect information useful for a technical, market-oriented, and commercial study of the Probiotics market. In-depth interviews were conducted with various primary respondents, such as key industry participants, Subject Matter Experts (SMEs), C-level executives of key market players, and industry consultants, to obtain and verify critical qualitative and quantitative information and to assess prospects.

Secondary Research

In the secondary research process, various sources, such as the Food and Agricultural Organization (FAO), United States Department of Agriculture (USDA), U.S. Food and Drug Administration (FDA) U.S. Food and Drug Administration (FDA), European Food Safety Authority (EFSA), World Health Organization (WHO), Consumer Healthcare Products Association (CHPA), European Federation of Associations of Health Product Manufacturers (EHPM), Canadian Health Food Association (CHFA), and Health Food Manufacturers' Association (HFMA), associations were referred to identify and collect information for this study. The secondary sources also include journals, press releases, investor presentations of companies, whitepapers, certified publications, articles by recognized authors and regulatory bodies, trade directories, and paid databases.

Primary Research

The Probiotics market encompasses various stakeholders involved in the supply chain, raw material manufacturers, raw material suppliers, regulatory organizations, and research institutions. To gather comprehensive information, primary sources from both the supply and demand sides were engaged. Primary interviewees from the supply side consisted of manufacturers, distributors, importers, and technology providers involved in the production and distribution of Probiotics. On the demand side, key opinion leaders, executives, and CEOs of companies in the Probiotics industry were approached through questionnaires, emails, and telephonic interviews. This approach ensured a comprehensive and well-rounded understanding of the Probiotics market from various perspectives.

Probiotics  Market Size, and Share

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

The top-down and bottom-up approaches were used to estimate and validate the market’s and various dependent submarkets’ size. The research methodology used to estimate the market size includes extensive secondary research of key players, reports, reviews, and newsletters of top market players, along with extensive interviews from leaders, such as CEOs, directors, and marketing executives.

Global Probiotics Market Size: Top-Down Approach

Probiotics  Market Top Down Approach

Probiotics  Market Top Down Approach

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Global Probiotics Market Size Estimation: Bottom-Up Approach

Probiotics  Market Bottom Up Approach

Global Probiotics Market: Data Triangluation

After arriving at the overall size from the market size estimation process explained above, the total market was split into several segments and subsegments. The data triangulation and market breakdown procedures explained below were implemented, wherever applicable, to complete the overall market engineering process and arrive at the exact statistics for various market segments and subsegments. The data was triangulated by studying various factors and trends from the demand and supply sides. Along with this, the market size was validated using both the top-down and bottom-up approaches.

Probiotics  Market Data Triangluation

Market Definition

The joint Food and Agriculture Organization (FAO)/World Health Organization (WHO) working group defines probiotics as “live micro-organisms, which when administered in adequate amounts confer a health benefit on the host” (FAO/ WHO, 2001).

Probiotics are living microorganisms that have been shown to provide specific health benefits to consumers. They are known to support gut health and help in running the digestive system smoothly. Yogurt is one of the prime natural sources of probiotics.

According to the National Center for Complementary and Integrative Health, “Probiotics are live microorganisms that are intended to have health benefits when consumed or applied to the body.” The major function of probiotics is to maintain a healthy balance in the body. Several types of microorganisms are present in probiotics, and they may have different effects on the body. The most common bacteria belong to the group called Lactobacillus and Bifidobacterium.

Key Stakeholders

  • Manufacturers, Importers and Exporters, Traders, Distributors, and Suppliers of Probiotics
  • Nutraceutical Manufacturers
  • Food Processors and Manufacturers
  • Government and Research Organizations
  • Trade Associations and Industry Bodies
  • Regulatory bodies and associations are as follows:
    • Food Agriculture Organization (FAO)
    • World Health Organization (WHO)
    • International Dairy Federation (IDF)
    • European Food & Feed Cultures Association (EFFCA)
    • National Yogurt Association (NYA)
    • International Scientific Association for Probiotics and Prebiotics (ISAPP)
    • International Probiotics Association (IPA)
    • Council for Responsible Nutrition (CRN)
    • National Yogurt Association (NYA)
    • International Frozen Yogurt Association (IFYA)
    • American Nutrition Association (ANA)

Report Objectives

  • To define, segment, and project the global market for Probiotics on the basis of product type, ingredient, distribution channel, end user, and region 
  • To provide detailed information regarding the key factors influencing the growth of the market (drivers, restraints, opportunities, and industry-specific challenges)
  • To strategically analyze the micro markets with respect to individual growth trends, future prospects, and their contribution to the total market
  • To analyze the opportunities in the market for stakeholders and provide a competitive landscape of the market leaders
  • To project the size of the market and its submarkets, in terms of value with respect to the regions (along with the key countries)
  • To strategically profile the key players and comprehensively analyze their market position and core competencies
  • To analyze competitive developments in the Probiotics market, including joint ventures, mergers & acquisitions, new product developments, and research & development activities

Available Customizations:

With the given market data, MarketsandMarkets offers customizations according to company-specific scientific needs.

The following customization options are available for the report:

Product Analysis

  • Product Matrix, which gives a detailed comparison of the product portfolio of each company

Geographic Analysis

With the given market data, MarketsandMarkets offers customizations according to company-specific scientific needs.

  • Further breakdown of the Rest of the European Probiotics market, by key country
  • Further breakdown of the Rest of the Asia Pacific Probiotics market, by key country
  • Further breakdown of the Rest of South America Probiotics market, by key country

Company Information

  • Detailed analyses and profiling of additional market players
Custom Market Research Services

We will customize the research for you, in case the report listed above does not meet with your exact requirements. Our custom research will comprehensively cover the business information you require to help you arrive at strategic and profitable business decisions.

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Report Code
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Published ON
Mar, 2024
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