The North America probiotic products market size was USD XX Billion in 2022 and is likely to reach USD XX Billion by 2031, expanding at a CAGR of 6.3% during 2023–2031. The growth of the market is attributed to the increasing preference for dietary supplements.
Probiotics are beneficial bacteria that can be used as dietary supplements to improve one's health. Saccharomyces cerevisiae probiotic yeast is a non-pathogenic strain of the yeast Saccharomyces cerevisiae. Probiotic yeast is regarded as a prominent probiotic due to its innate resistance to antibacterial antibiotics.
The use of probiotic yeast in animal feed can improve fiber digestibility, raise animal production performance, and increase meat, milk, and egg production. Yeast-based probiotic products are utilized to lower the toxicity of fatal fungus that are resistant to routinely used antifungal medications, according to the Mysore Central Food Technology Research Institute (CFTRI).
Antifungal medications are widely available, and the expanding therapeutic usage of probiotic yeast has increased the probiotic products market development potential.
With the outbreak of COVID19, an upsurge in market demand for immune system boosting products have increased probiotic usage and are expected to have a favorable influence on the industry.
Market Trends, Drivers, Restraints, and Opportunities
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Increasing consumption of functional food is driving the market growth.
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Banning use of antibiotics in animal feed is expected to boost market growth during forecast period.
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Rising demand for probiotics to treat chronic diseases is anticipated to propel the market expansion.
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Rising cost of probiotic products can hamper growth of probiotic products market
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Increasing R&D on the therapeutic function of probiotic yeast is expected to create lucrative opportunities for the North America probiotic products market.
Scope of North America Probiotic Products Market Report
The report on the North America probiotic products market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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North America Probiotic Products Market - Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Types (Functional Food & Beverages, Dietary Supplements, and Animal feed) and Distribution Channels (Supermarkets/ Hypermarkets, Pharmacies/Health Stores, Convenience Stores, and Others)
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Geographical Scope
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Canada, Mexico, The US, and Rest of North America
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Danone S.A.; PepsiCo Inc.; Nestle S.A.;BioGaia AB; and Yakult Honsha Co. Ltd
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North America Probiotic Products Market Segment Insights
Dietary Supplements segment is expected to grow at a rapid pace
Based on types, the market is divided into functional food & beverages, dietary supplements, and animal feed. The dietary supplements segment is expected to grow at a rapid pace during the forecast period owing to use of ingredients such as artificial sweeteners, which makes them more attractive for consumers.
Moreover, probiotics provide several health advantages for people of all ages; however, probiotics yeast for children and probiotics yeast for adults are not the same. The potency and dose of the supplement varies between probiotics for children and adults. Adult probiotic supplements are more effective, and the dosage is generally two tablets per day, but children's probiotic yeast supplements are mild and the dosage is usually one scoop (or pill) per day.
Pharmacies/health stores segment is projected to expand at a robust CAGR
On the basis of distribution channels, the market is segregated into supermarkets/ hypermarkets, pharmacies/health stores, convenience stores, and others.
The pharmacies/health stores segment is projected to expand at a robust CAGR during the forecast period due to increasing presence of probiotic products in pharmacies stores. Additionally, users are more willing to acquire probiotic-based goods through health stores as the number of them provide special offers or discounts.
The US is anticipated to constitute a key market share
In terms of regions, the North America probiotic products market is categorized as Canada, Mexico, US, and Rest of North America.
The US is expected to constitute a major share of the market during the projected period due to growing demand for nutritional supplements that strengthen the immune system. However, the market in Canada is anticipated to expand at a rapid pace during the forecast period owing to increasing milk production and animal productivity.
Segments
The North America probiotic products S market has been segmented on the basis of
Types
- Functional Food & Beverage
- Dietary Supplements
- Animal Feed
Distribution Channels
- Supermarkets/ Hypermarkets
- Pharmacies/Health Stores
- Convenience Stores
- Others
Geography
- Canada
- Mexico
- The US
- Rest of North America
Key Players
- Danone S.A.
- PepsiCo Inc.
- Nestle S.A.
- BioGaia AB
- Yakult Honsha Co. Ltd
Competitive Landscape
Key players competing in the North America probiotic products market are Danone S.A.; PepsiCo Inc.; Nestle S.A.;BioGaia AB; and Yakult Honsha Co. Ltd. The regional market for probiotic goods is highly fragmented, with a large number of small firms operating in the industry.
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