Australia Probiotics Market - Forecasts from 2023 to 2028 [Yahoo! Finance]
YAKULT HONSHA CO LTD ADR (YKLTY)
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Source: Yahoo! Finance
The Australian probiotics market is projected to grow at a CAGR of 3.94% over the forecast period, increasing from US$327.973 million in 2021 to US$429.730 million by 2028. The growth of the probiotics market in Australia is propelled by a rising awareness of the health advantages associated with probiotics. The increasing popularity of fermented foods further contributes 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, according to the Australian Bureau of Statistics. The aging Australian population is another factor as the elderly group is more inclined to incorporate probiotics into their routine to bolster gut health and support their immune system. The Growing Geriatric Population Australia is experiencing population aging due to rising life expectancy and falling fertility rates. As of June 2020, around 4.2 million Australians aged 65 and above constituted
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