At a CAGR of 6.6% Probiotic Drinks Market is projected to reach $23.4 Billion by 2031
Probiotic Drinks Market
Increase in use of probiotic drinks for healthy intestines and immunity function is expected to drive growth of the global probiotic drinks market
PORTLAND, 5933 NE WIN SIVERS DRIVE, #205, OR 97220, UNITED STATES, April 18, 2023 /EINPresswire.com/ — Beverages play an essential role in dietary consumption, and their significance in health has recently received a lot of attention. Beverages are designed to fulfill needs of consumers, in terms of size, shape, storage, and the ability to include desired nutrients and bioactive ingredients. Functionalized beverages, in particular, have recently gained a lot of attention, owing to their possible health benefits, such as lowering cholesterol, lowering sugar, having a high fiber content, boosting the immune system, and aiding digestion.
Their low cost and multiple medical benefits have sparked a lot of curiosity regarding probiotic dairy and non-dairy drinks among various beverages available on the market. Consumers are increasingly turning to non-dairy beverages such as grain, fruit, and vegetable juices to supplement their diets with probiotics due to lactose intolerance and allergies to milk proteins, while manufacturers are increasingly turning to food matrices-based beverages comprising probiotic cultures.
probiotic drinks market was valued at $11,047.40 million in 2020, and is estimated to reach $23.4 Billion by 2031, growing at a CAGR of 6.6% from 2022 to 2031.
Global Leading Companies:
Players operating in the probiotic drinks market have adopted product launch and business expansion as their key developmental strategies to expand their market share, increase profitability, and remain competitive in the market. Key players profiled in this report include GCMMF (AMUL), Fonterra Co-operative Group Ltd, Yakult Honsha Co., Ltd., Denone SA, Bio-K+, Lifeway Foods, Inc., Chobani, LLC, NextFoods, Inc., PepsiCo Inc, and Harmless Harvest.
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A functional beverage containing certain bacteria that are advantageous to human health is referred to as a probiotic drink. They are made by combining water, sugar, herbal, or fruit extracts with a probiotic bacteria and yeast culture and then bio-fermenting it. Probiotics multiply by absorbing sugar and then stop when they reach their peak of multiplication. These microbes help to improve overall gut health by preserving the natural balance of organisms in the intestines and by boosting immunity.
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Eating and drinking habits of people have changed as a result of the ongoing COVID-19 outbreak. People have become more aware of the food they consume on a daily basis. Furthermore, there is a growing desire for pure and natural ingredients in probiotic beverages, prompting market leaders to expand their product portfolios to include a wide selection of real fruit-based probiotic drinks.
Rise in prevalence of various diseases due to indigestion and awareness of their associated risks help raise awareness regarding healthy bacterial and gut health. Furthermore, increase in prevalence of indigestion and gut diseases among young people is expected to drive demand for probiotic drinks. According to the research studies and Food Navigators, New information about intimate link between immunity and digestive health has emerged in recent years.
Probiotic drinks market segmentation consists of type, flavor, channel, and region. On the basis of type, the market is categorized into dairy-based probiotic drinks and plant-based probiotic drinks. By flavor, it is segregated into regular, berry, tropical, and others. Depending on sales channel, it is fragmented into hypermarkets/supermarkets, convenience stores, online retail, and others. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, Russia, the Netherlands, and rest of Europe), Asia-Pacific (China, Japan, Australia, South Korea, India, and rest of Asia-Pacific), and LAMEA (Brazil, Argentina, Saudi Arabia, South Africa, the UAE, and rest of LAMEA).
On the basis of type, the plant-based probiotic drinks segment was valued at $ 3,715.7 million in 2020, and is expected to reach $ 8,115.3 million by 2031 at a CAGR of 6.9% from 2022 to 2030 based on probiotic drinks market forecast. This is majorly attributed to rise in demand for plant-based food products. Growth in consumption of plant-based probiotic drinks among vegan and lactose intolerant population is expected to favor growth of the plant-based probiotic drinks segment during the forecast period.
By flavor, the berry flavored probiotic drinks market is expected to grow at a CAGR of 7.6% during the forecast period. Demand for new flavors and taste is increasing from consumers and people are seeking more than traditional taste and flavor in foods & beverages products. Probiotic drinks market demand is also driven by the fact that flavored probiotic drinks are made from plant-based ingredients, specifically fermented fruits and berries.
The hypermarkets/supermarkets segment was valued at $ 4,093.4 million in 2020, and is predicted to grow at a CAGR of 6.7% to reach $ 8,768.0 million by 2031. Hypermarkets/supermarkets are the traditional sales channels for consumer goods and packaged food and beverage products. Probiotic beverages are widely available in shot bottles and come in cartons of five, twelve, or fifteen bottles.
Region wise, Europe has accounted for a considerable share in the global probiotic drinks market, and is expected to sustain its share during the forecast period. Excessive inclination toward digestive health, and popularity of dairy products among European consumers drive growth of the market. Moreover, rise in number of health-conscious consumers across Europe is a key factor anticipated to propel the probiotic drinks market growth.
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Key findings of the study
The probiotic drinks market size was valued at $11,047.4 million in 2020, and is estimated to reach $ 23,405.7 million by 2031, registering a CAGR of 6.6% from 2022 to 2031.
By type, the plant-based probiotic drinks segment is estimated to witness the fastest growth, registering a CAGR of 6.9% during the forecast period of global probiotic drinks industry.
In 2020, depending on sales channel, the online retail segment was valued at $ 2,618.8 million, accounting for 23.7% of the global probiotic drinks market share.
Based on probiotic drinks market analysis, In 2020, the U.S. was the most prominent market in North America, and is projected to reach $ 4,495.3 million by 2031, growing at a CAGR of 6.0% during the forecast period.
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