Newark, NJ, Feb. 04, 2021 (GLOBE NEWSWIRE) — As per the report published by Fior Markets, the global probiotic drink market is expected to grow from USD 14.55 billion in 2020 to USD 24.26 billion by 2028, at a CAGR of 6.6% during the forecast period 2021-2028.
Certain key factors are fuelling the growth of the global probiotic drink market. Some of them include easy availability of ready-made probiotic drink products for on-the-move drinking, increasing health consciousness among customers, rising functional beverages demand in order to better digestive health, and good taste.
Probiotics are bacteria that support the human body in many ways, especially in improving the digestive system’s health and naturally boosting immunity. Consuming probiotic drinks on a regular basis has been shown to improve nutrient absorption from food and bowel movements. Some of the many health benefits offered by probiotic drinks are weight loss, enhanced digestive health, and improved immune function. Other than physical benefits, they can also alleviate mental health issues such as obsessive-compulsive disorder (OCD), autism, depression, and anxiety. People around the world are getting aware of the advantages of probiotic drinks and are realizing their usefulness in gut (gastrointestinal system) wellness.
With the outbreak of a global pandemic, many have faced salary cuts and job losses. Covid-19 has become a threat to the entire world’s economy and has negatively impacted all kinds of markets, including the probiotic drink market. With less disposable income and broken supply chains, the market’s growth is expected to slow down.
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Key players operating in the global probiotic drink market include Danone S.A., PepsiCo, Harmless Harvest, Fonterra Co-operative Group, Nestle SA, Yakult Honsha Co., Ltd., GCMMF (Amul), NextFoods, Bio-K Plus International Inc., Lifeway Foods, Inc., and Chobani, LLC, among others. To gain a significant market share in the global probiotic drink market, the key players are now focusing on adopting strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships. Danone S.A. and Bio-K Plus International Inc. are some of the biggest producers and suppliers of probiotic drinks in the global market.
- For instance, Yakult Danone India brought out a new product in the market in February 2018 under the name Yakult Light. This low-sugar beverage contains vitamin D as well as E. Health experts suggest that the combined strengths of vitamin E & D help slow down the aging process and also boost bone health.
Dairy-based segment dominated the market and was valued at USD 8.32 billion in the year 2020
Based on type, the global market has been divided into plant-based and dairy-based. Dairy-based segment dominated the market and was valued at USD 8.32 billion in the year 2020. Probiotics are typically lumped together with yogurt-based and fermented probiotic drinks since dairy products are quite compatible with probiotic drinks. These days dairy-based probiotic drinks like the Kefir, which is famous in Europe, are becoming more prevalent all across the globe.
Offline segment dominated the market and held the largest market share of 63.5% in the year 2020
On the basis of distribution channel, the probiotic drink market has been segmented into online and offline. The offline segment dominated the market and held the largest market share of 63.5% in the year 2020. Convenience stores, hypermarkets, and supermarkets are some of the more significant offline distribution channels in the industry. Greater shelf space in brick & mortar stores like grocery stores, convenience stores, pharmacies, supermarkets, and health supplement & nutrition stores has fuelled the growth of this segment.
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Regional Segment Analysis of the Probiotic Drink Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
On the basis of geography, the global probiotic drink market has been classified into North America, Europe, South America, Asia Pacific, and Middle East and Africa. The Asia Pacific region accounted for the major market share of 38.3% in the year 2020 and is anticipated to grow throughout the projected period. The large share of this segment is attributed to key factors such as the high popularity of probiotic drinks in the region, which are yogurt-based, broad accessibility of probiotics, increasing rate of health consciousness among consumers, and an expanding middle-class. The Asia-Pacific region is also expected to grow at the highest CAGR during the forecast period 2021-2028. This growth is primarily due to the rising popularity of functional food & beverages such as probiotics in the region. Emerging economies like India, Brazil, Indonesia, and China are especially lucrative, considering their growth potential.
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About the report:
The global probiotic drink market is analyzed on the basis of value (USD Billion), volume (K Units), export (K Units), and import (K Units). All the segments have been analyzed on a global, regional, and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitor position grid analysis.
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