The Probiotics Food And Cosmetics Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Probiotics Food And Cosmetics Global Market Report 2024, The probiotics market size has grown strongly in recent years. It will grow from $73.65 billion in 2023 to $80.48 billion in 2024 at a compound annual growth rate (CAGR) of 9.3%. The growth in the historic period can be attributed to rise in prevalence of digestive disorders, shift towards preventive healthcare, rise in cosmetics sector, growth in pharmaceuticals industry, increase in demand for dietary supplements.
The probiotics market size is expected to see rapid growth in the next few years. It will grow to $119.28 billion in 2028 at a compound annual growth rate (CAGR) of 10.3%. The growth in the forecast period can be attributed to rising consumer interest in natural and functional foods, expanding aging population, expansion of e-commerce platforms, increasing awareness of the importance of gut health and digestion, increasing disposable incomes. Major trends in the forecast period include personalized probiotics, probiotic beverages, microbiome-based therapies, sustainability and eco-friendly packaging, genetically modified probiotics.
Customers preferred products with proven health benefits are expected to propel the growth of the probiotic’s foods and cosmetic market. Probiotics have various health benefits such as increased immunity and altered metabolism. They also act as functional foods, nutraceuticals, and food supplements to provide a healthy lifestyle to their consumers. Moreover, recent research has discovered that when children are given probiotics, their gut microbiota balance, intestinal cell proliferation, and immune response increase dramatically. According to the findings in 2021, the number of people using probiotics in the United States increased by 66%, accounting for 25% of all supplement users (compared to 15% of total users six months prior). When compared to six months ago, the percentage of U.S. consumers who used probiotics daily or more frequently climbed from 37% to 61%. Probiotic users increased by 188% to 26% of all supplement users in Italy (up from 9% six months ago), with an 83% increase in weekly compliance. Probiotic users increased by 108% to 48% of total supplement users among Chinese consumers (compared to 23% six months prior). While the survey’s reach is limited, it reveals that consumers are aware of probiotics’ ability to enhance immune function and are taking proactive steps to protect their health in the face of the global epidemic. Therefore, increasing customer prefer products with proven health benefits drives the probiotics foods and cosmetic market.
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The probiotics food and cosmetics market covered in this report is segmented –
1) By Product Type: Probiotics Food and Beverages, Dietary Supplements, Cosmetics
2) By Ingredients: Bacteria, Yeast
3) By Distribution Channel: Hypermarkets/ Supermarkets, Pharmacies/ Drugstores, Specialty stores, Online
Product development are shaping the probiotics foods and cosmetics market. Due to technological advancements, companies develop new products to satisfy consumer needs and provide an enhanced products with added features. In February 2021, BioGaia, a Sweden-based company that develops markets and sells a range of products with probiotics has developed next-generation probiotics with a focus on metabolic illnesses, including diabetes and associated problems with the help of bacteria that is very sensitive to oxygen. To cope with the sensitivity of oxygen, the company has patented a unique production technology whose information remains undisclosed.
The probiotics food and cosmetics market report table of contents includes:
1. Executive Summary
2. Probiotics Market Characteristics
3. Probiotics Market Trends And Strategies
4. Probiotics Market – Macro Economic Scenario
5. Global Probiotics Market Size and Growth
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31. Global Probiotics Market Competitive Benchmarking
32. Global Probiotics Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Probiotics Market
34. Probiotics Market Future Outlook and Potential Analysis
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