The probiotic drinks market is expected to reach 46.09 billion by 2024, at a CAGR of 8.44%, during the forecast period, 2019-2024.
- The probiotic drink market is driven by the increasing number of health conscious consumers, especially the younger generation.
- Probiotic drinks are a part of the functional beverages, which can help in improving the health conditions of gut by maintaining the balance of the intestine.
- The dairy-based probiotic drinks segment is the leading segment in the probiotic market, followed by the fruit-based probiotic drinks segment. Asia-Pacific holds the major share of the probiotic drinks market, followed Europe.
Scope of the Report
The probiotic drinks market report includes study on segmentation by product type (fruit-based probiotic drinks, dairy-based probiotic drinks, and other probiotic drinks), distribution channel (supermarkets/hypermarkets, convenience stores, pharmacies/health stores, and other distribution channels), and geography.
Key Market Trends
Growing Demand for Functional Food and Beverages
Consumers are looking for beverages that give an additional benefit other than quenching their thirst. The increasing amount of health conscious population is the major factor boosting the growth of the functional food and beverage market. Functional food and beverages have additional nutritional benefits that may help to maintain the balance of the body, especially the gut. Many fruit and beverages companies are extending their product line by adding functional beverages to their portfolio, which includes probiotic drinks. Functional foods and prebiotic drinks are a trending food habit all over the world. However, the market share is mainly occupied by the developed markets. Asia-Pacific is the largest and fastest growing market for functional food and beverages.
Asia-Pacific Remains the Fastest Growing Market
In the Asia-Pacific region, probiotics drinks market has huge opportunity. Majority of probiotics are consumed in the form of yogurts and fermented products (from soy to vegetables and even eggs). Probiotic drinks, such as drinking yogurt, have been experiencing increasing demand from the region. Global players, like Yakult, are facing tough competition from local players, such as Mengniu group.
The probiotic drinks market is dominated by the major companies of the market. There is a healthy competition between the major players to grab the larger portion the market and become the global leader. Companies are making themselves competitive by bringing new differentiation with new flavors, healthy ingredients, and innovative packing. The leading players of the market have a better brand loyalty among the customers. Small and regional players are also increasing their popularity and product qualities to remain in the competition. Major players have their presence in all the major countries of the world and are expanding to the regions, where they are not present.
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