According to a recent research report by Future Market Insights, the global vegan probiotics market is estimated to reach a valuation of US$ 11.8 Bn by 2032. The market is projected to reach US$ 5.1 Bn by the end of 2022 and exhibit growth at a CAGR of 8.8% in the forecast period from 2022 to 2032.
Beneficial bacteria, also known as friendly bacteria, dwell in the intestines and are known as probiotics. It is their mission to maintain a healthy gut and immune system. Patients with irritable bowel syndrome (IBS) have found the product to be incredibly helpful in their therapy. These are also useful for treating diarrhea. Although there has been little study, they are likely to be beneficial for a small number of skin problems such as eczema.
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Traditionally, dairy products like yogurt, cheese, and milk have been the most common sources of probiotics. Lactose intolerant people and those who do not eat dairy products, on the other hand, dislike them. The greatest non-dairy choices available in various sales channels like hypermarkets/supermarkets and online channels are vegan or plant-based probiotics, including kombucha, coconut kefir, coconut yogurt, miso, sour pickles, and olives.
Key Takeaways from the Vegan Probiotics Market Study
- North America vegan probiotics market is expected to generate nearly 38% of the share in the forecast period.
- The U.S. is set to hold about 65% of the vegan probiotics market share in North America vegan probiotics market by the end of 2032.
- Europe vegan probiotics market is expected to account for around 31% of share in the evaluation period.
- Germany vegan probiotics market holds 22% of the share in Europe.
- Asia Pacific is expected to generate 20% of the vegan probiotics market share during the forecast period.
- China is set to account for 32% of the vegan probiotics market share in Asia Pacific.
“Leading companies are striving to reduce the side effects of their in-house products owing to the rising consumption of antibiotics, which is likely to push the development of organic and vegan probiotics with rising efficiency. Apart from that, growing geriatric population who is more prone to risks associated with chronic diseases such as diabetes, cancer, and strokes, is likely to aid growth,” says a lead analyst at Future Market Insights.
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Competitive Landscape: Vegan Probiotics Market
The global vegan probiotics market is highly competitive in nature. Industry giants such as Beyond Meat, Impossible Foods, and Oatly are witnessing a spike in terms of demand for plant-based food alternatives as they partner up with eateries and huge corporations.
Some of the leading companies offering vegan probiotics products are Naturelo, Yakult, Lallemand Inc., DSM, PlantFusion, LoveBug Probiotics, Custom Probiotics Inc., Wellbeing Nutrition., and Nature Made.
Vegan Probiotics Market Outlook by Category
By Sales Channel:
- Modern Trade
- Franchised Outlets
- Specialty Store
- Online Channel
By End Use:
- Food & Beverages
- Nutrition Industry
- Health Care
By Product Type:
- Soy Milk
- Coconut Kefir
- Coconut Yogurt
- Sour Pickles