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Report
North America Probiotic Products Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
Market Report I 2023-01-23 I 90 Pages I Mordor Intelligence
The North American probiotic products market is projected to register a CAGR of 6.3% during the forecast period 2022-2027.
The COVID-19 pandemic has changed peoples' eating and drinking habits. People have become more conscious about the food they consume on a day-to-day basis. With the sudden impact of the pandemic, the market witnessed a surge in demand for products that provide immunity, which is likely to impact the probiotics market positively. Owing to such factors, there have been significant product launches to cater to the growing demand.
Prevention and cure of disorders such as lactose intolerance and inflammatory bowel disease are some of the benefits offered by probiotics. The increasing levels of health consciousness and wider access to probiotic dietary supplements are a few factors driving the market studied in the region. The past decade has witnessed the launch of more than 500 food and beverage probiotic products, which have garnered exceptional acceptance.
Some of the factors that lead to digestive disorders, bloating, and reduction in resistance to infections include poor and untimely diet, age, and stress levels. Studies have revealed that products enhanced with probiotics have been successful in moderating these conditions to a large extent.
North America Probiotic Products Market Trends
Rising Health Awareness Boosting Consumption
Probiotics are a driving force within the booming digestive health supplement category, and people of all age groups are consuming them. Moreover, the major consumption is observed among middle-aged adults due to their growing awareness regarding health and wellness through multi-channel publicity, which influences their consumption pattern to a large extent in the United States, which is the largest market in North America. The higher interest of middle-aged adults in maintaining digestive health is among the major drivers enhancing the growth of the probiotics market in the United States. Probiotic food products, such as yogurts and naturally healthy sour milk products, like Kefir and Kombucha, have also recorded strong growth in the country, which may boost digestive health by reducing the symptoms of common gastrointestinal disorders, such as bloating, diarrhea, and constipation.
United States Holds Largest Market Share
The probiotic products market is growing very rapidly in the United States as consumers are paying more attention to health and well-being. Probiotics are an important factor in the rising sales of digestive health supplements. Sales of digestive probiotics in the country continue to be driven by unhealthy eating habits and the increasingly stressful and busy lives of the consumer base. Despite widespread consumer knowledge of the long-term health consequences of an unhealthy diet, consumers prefer to self-medicate with digestives, rather than change their eating habits. The healthcare expenditure pattern in the United States is increasing each day, with increases in the aging population, advanced technology, better medical facilities, and a rise in the number of insured people. These factors are driving the overall sales of probiotics in the country. Furthermore, the US probiotics market is growing annually, with all kinds of companies expanding their presence and launching new products containing probiotics, such as dairy products and supplements.
North America Probiotic Products Market Competitor Analysis
North America is a highly competitive market with several major companies striving to retain their presence by introducing new probiotic products to cater to increasing demand. The North American probiotic products market witnesses dominance from giants such as Nestle, Danone, and Yakult. The regional market for probiotic products has many small manufacturers engaged in the business. Prominent players such as Lifeway Foods Inc., Kirkman Group Inc., and BioGaia, among others, are adopting strategies such as partnerships, collaborations, and mergers and acquisitions by key players to expand their distribution network, which is expected to favor market growth over the coming years.
Additional Benefits:
The market estimate (ME) sheet in Excel format
3 months of analyst support
1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 By Type
5.1.1 Functional Food and Beverage
5.1.2 Dietary Supplements
5.1.3 Animal Feed
5.2 By Distribution Channel
5.2.1 Supermarkets/Hypermarkets
5.2.2 Pharmacies/Health Stores
5.2.3 Convenience Stores
5.2.4 Other Distribution Channels
5.3 Geography
5.3.1 United States
5.3.2 Canada
5.3.3 Mexico
5.3.4 Rest of North America
6 COMPETITIVE LANDSCAPE
6.1 Most Active Companies
6.2 Most Adopted Strategies
6.3 Market Share Analysis
6.4 Company Profiles
6.4.1 Nestle SA
6.4.2 Danone SA
6.4.3 PepsiCo Inc.
6.4.4 BioGaia AB
6.4.5 Yakult Honsha Co. Ltd
6.4.6 Lifeway Foods Inc.
6.4.7 Kirkman Group Inc.
6.4.8 American Biologics
6.4.9 Probi AB
6.4.10 Lallemand Company
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
8 IMPACT OF COVID-19 ON THE MARKET
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