The growing demand for healthy and functional food, the rise in awareness of the health benefits of probiotics, and the growth of e-commerce drive the global probiotic desserts market.
PORTLAND, Ore., March 23, 2023 /PRNewswire/ -- Allied Market Research published a report, titled, "Probiotic Desserts Market By Type (Dairy Based, Plant Based), By Application (Yogurt, Kefir, Ice Cream, Others), By Distribution Channel (Ecommerce, Specialty Store, Hypermarket and Supermarket, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031" According to the report, the global probiotic desserts industry was valued at $680.7 million in 2021 and is estimated to generate $1.4 billion by 2031, witnessing a CAGR of 7.2% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario.
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Drivers, Restraints, and Opportunities
The growing demand for healthy and functional food, the rise in awareness of the health benefits of probiotics, and the growth of e-commerce drive the probiotic desserts market. However, the lack of standardization in the labeling and definition of probiotic products and high prices hinder the global market growth. On the other hand, inclination of consumers towards more natural and organic ingredients, as well as the introduction of functional ingredients will present new growth opportunities for the global probiotic desserts market in the coming years.
The yogurt segment to dominate the market during the forecast period
Based on application, the yogurt segment contributed to the largest share of more than two-fifths of the global probiotic desserts market in 2021 and is expected to dominate in terms of revenue through 2031. The probiotic yogurt industry is expanding as a result of consumers' increasing interest in natural and organic products. Many customers go for probiotic yogurt products that use organic ingredients and less processing because they consider them as a natural way to boost health. However, the ice cream segment is expected to exhibit a CAGR of 7.9% during the forecast period. This is because of the growing consumer demand for functional food with health benefits. Additionally, the use of innovative and unique flavor combinations, such as fruit or herb probiotic ice cream, and the inclusion of prebiotic ingredients to further support gut health also boost the growth of the segment.
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The dairy based segment to achieve the highest revenue during the forecast period
Based on type, the dairy based segment grabbed the highest share of two-thirds of the overall probiotic desserts market in 2021 and is projected to maintain its dominance in 2031. Growing consumer demand for healthy and functional food is driving the growth of the global market for probiotic dairy desserts. However, the plant based segment is expected to witness the fastest CAGR of 7.7% from 2022 to 2031. Various factors such as health concerns, animal welfare, and environmental sustainability have increased the demand for plant-based products including desserts.
The specialty store segment to achieve the highest revenue during the forecast period
Based on distribution channel, the specialty store segment grabbed the highest share of nearly two-fifths of the overall probiotic desserts market in 2021 and is projected to maintain its dominance in 2031. Supermarkets and hypermarkets are gaining popularity due to the availability of a broad variety of consumer goods under a single roof in addition to providing ample parking space and convenient operation timings. However, the e-commerce segment is expected to witness the fastest CAGR of 7.9% from 2022 to 2031. E-commerce serves as a popular medium for the purchase of nutraceuticals. Large scale internet penetration and availability of a myriad of sites for shopping online are some of the major reasons for the growth of online shopping.
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Asia-Pacific to achieve the largest revenue and growth by 2031
Based on region, the market in Asia-Pacific was the largest in 2021, accounting for more than one-third of the global probiotic desserts market and is likely to dominate in terms of revenue during the forecast period. Moreover, the same market is expected to show the fastest CAGR of 8.2% during the forecast period. Growth in awareness about probiotics in China and India led to the increased demand for probiotics desserts in Asia-Pacific.
Leading Market Players
The report analyzes these key players of the global probiotic desserts market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, product portfolio, and developments by every market player.
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