Technavio, a leading global market research company, has released a report highlighting the exponential growth of the probiotics market. The report predicts that the market will grow by an astounding $28.57 billion from 2022 to 2027, with a compound annual growth rate (CAGR) of 7.6%.
The growing popularity of probiotics can be attributed to the numerous health benefits they offer. Probiotics help prevent the growth of harmful bacteria in the digestive tract, leading to improved nutrition absorption and bowel movements. They have also been shown to support the control of diseases like bacterial vaginosis, yeast infection, and urinary tract infection. Additionally, studies have demonstrated that probiotics can help contain toxic microbes such as Candida, Escherichia coli, Helicobacter pylori, and Salmonella.
Furthermore, there is an increasing health awareness among consumers, particularly in countries like the United States. This has resulted in a growing demand for probiotics to be incorporated into functional foods, beverages, and dietary supplements. Probiotics have been found to enhance the skin's moisture barrier, reduce oxidative stress, protect against UV-induced damage, preserve pH levels, and improve hair quality. Moreover, they nourish and cultivate beneficial bacteria within the body, making them a highly sought-after ingredient in supplements and food products.
The favorable market conditions, including consumer spending and supportive government initiatives, are expected to drive the growth of the probiotics market even further.
Technavio, known for their comprehensive and insightful market reports, aims to equip companies and executives with the necessary knowledge to make informed decisions. They have been providing customized reports since 2003 and introduced their ready-made reports in 2008.
With the growing recognition of probiotics' health benefits and the increasing demand for these products, the probiotics market is poised for significant growth in the coming years.