Rise in the awareness about the health benefits of probiotic drinks is thriving the global probiotics drink market. The COVID-19 pandemic has positively impacted the market. The Asia Pacific market is likely to lead the market in the near future.
NEW YORK, Nov. 25, 2021 /PRNewswire/ -- Research Dive has added a new report to its offering titled, "Probiotics Drink Market by Product Type (Dairy Based and Plant Based), Distribution Channel (Offline and Online), and Regional Analysis (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2021-2028".
The Global Probiotics Drink Market is expected to garner $13,814.70 million by 2028, growing at a CAGR of 8.5% from 2021 to 2028. The report delivers comprehensive insights into the current condition and future prospective of the industry by meticulously examining market drivers and restraints, opportunities, major segments, and regions.
Impact of the COVID-19 Pandemic on the Probiotics Drink Market
The COVID-19 pandemic has made a positive impact on the growth of the global probiotics drink market in 2020. In the pandemic period, the demand for healthy foods has surged marvelously owing to the growing awareness about maintaining a healthy lifestyle. This has boosted the sale and manufacturing of probiotics drinks across the globe, which is fueling the growth of the market in the pandemic period.
Key Segment Findings of the Probiotics Drink Market:
The market is segmented based on type, distribution channel, and region.
The dairy based probiotics drink sub-segment of the type segment is anticipated to hold maximum share of the market and collect a revenue of $7,831.90 million in the estimated period. This growth is mainly because of the growing adoption of dairy based probiotics beverages as they can be easily prepared at home.
The offline sub-segment of the distribution channel segment is anticipated to grab highest share of the market and garner $12,193.70 million in the estimated period. This growth is mainly because offline stores provide a feeling of satisfaction of choosing the desired products by viewing them in real-life.
Among region, the Asia Pacific region market is projected to observe fastest growth and hit $4,420.70 million in the projected period. The growth of this region market is mostly owing to the strong presence of key probiotics drink producers in nations such as China and Japan in this region.
The key factors fueling the growth of the global probiotics drink market are a significant rise in the awareness about health benefits of probiotics drinks as well as increasing lifestyle-related disorders such as constipation, gastric disorders, and acidity amongst people of all age groups across the world. In addition, enhancements in the prevailing probiotics drink products and launches of novel probiotics drinks by manufacturers are expected to open doors to innovative opportunities for the market growth in the projected period. However, lack of awareness and high cost of probiotics drinks are projected to obstruct the market growth during the forecast period.
Top 10 Players of the Global Probiotics Drink Market
1. Yakult Honsha Co. Ltd. 2. Danone S.A. 3. PepsiCo 4. NextFoods 5. Harmless Harvest 6. Bio-K Plus International Inc 7. Fonterra Co-operative Group 8. Nestle SA 9. Lifeway Foods, Inc. 10. Chobani, LLC
Numerous business strategies, such as acquisitions, mergers, R&D activities, new product developments, and much more, are implemented by these players to attain a strong position in the global market. For instance, in December 2020, Uniseed Investee PERKii, a probiotics company, launched sparkling probiotic drink, blended with natural flavors, at Coles Express, which is an Australian chain of convenience stores at Shell Australia petrol stations.
Moreover, the report offers other key details of leading players such as business tactics, financial performance, and product/service range of these players along with Porter's five forces analysis and SWOT analysis
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