Probiotics includes microorganisms inclusive of live bacteria and yeast which when administered properly provides various benefits such as improving gut health, immune system, and also assist in weight management. The growth of the probiotics in Australia is propelled by a rising awareness of the health advantages associated with probiotics. The increasing popularity of fermented foods is further contributing to this trend. Additionally, there has been a notable increase in consumption expenditure per household, rising by 5.9% to reach $104,514 between 2020-21 and 2021-22, per the Australian Bureau of Statistics.
Moreover, the ongoing efforts to spread awareness regardingprobioticsusage and their benefits among Australian public is further providing major growth opportunities. Various market players operating in the market witnessed a significant growth in their revenues. For instance, in the financial year 2023, Biome Australia's top line product's revenue increased by 75%.
Australia Probiotics Market Drivers
Rising health problems in geriatric population is expected to propel the market expansion
Older generation account for a considerable share of the Australian population and with the ongoing changes in lifestyles demographics this portion faces frequent health problems which also arises due to change lack of physical activities. As per the Australian Institute of Health and Welfare, nearly 85% of older Australians aged 65 years & above have at least one chronic health condition whereas 28% had more than three.Such high prevalence rate followed by the growing geriatric population in Australia is expected to bolster the demand for activate probiotics. The data provided by Australian Institute of Health and Welfare, as of June 2022, the older population constituted for 16.4% of Australia's total population and by June 2030 the percentage share is predicted to reach up to 17.8%.
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- Historical data & forecasts from 2022 to 2030
- Growth Opportunities, Challenges, Supply Chain Outlook, Regulatory Framework, Customer Behaviour, and Trend Analysis
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Australia Probiotics Market is analyzed into following segments follows:
By Ingredient
- Bacteria
- Yeast
By Form
- Liquid
- Form
By Application
- Functional Food and Beverages
- Dietary Supplements
- Animal Feed
By End-User
- Human
- Animal
Table of Contents
Companies Mentioned
- Yakult Australia. PTY LTD
- DuPont
- DANONE
- BJP Laboratories
- Biome Australia Limited
- Life-Space Probiotics
- ProGood
Methodology
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Table Information
Report Attribute | Details |
---|---|
No. of Pages | 78 |
Published | December 2024 |
Forecast Period | 2025 - 2030 |
Estimated Market Value ( USD | $ 424.6 Million |
Forecasted Market Value ( USD | $ 522.38 Million |
Compound Annual Growth Rate | 4.2% |
Regions Covered | Australia |
No. of Companies Mentioned | 7 |