Probiotics Market Strategies and Statistics
Probiotics Market Size and Growth Rate:
According to our research report, the Probiotics Market size is poised to reach USD 68300 Million by the end of 2023 from USD 46,540 Million in 2018 and this market witnessed a growth rate of 7.5% during the forecast period 2018-2023.
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Probiotics Market Overview:
Probiotic ingredients stimulate the natural digestive juices and enzymes in the body that ensure proper functioning of the digestive system and can be administered through food or in the form of supplements, which is a more common choice.Growing demand for probiotic dietary supplements and nutrient-rich supplements for animals can promise the growth of the market for probiotics in the near future. They are a major driving force within the booming digestive health supplement category and are being consumed by people of all age groups.
The food & beverage segment dominated the probiotics market, on the basis of its application. Apart from this other application include cosmetics, pharma etc. The demand for liquid probiotics has increased as compared to dry probiotics, due to its application in yogurt, which is the most popular source of probiotics for its easy availability and taste.
Probiotics Market Growth Drivers and Restraints:
Other products that use liquid probiotics include probiotic juices, kefir water and yogurt-based drinks, which are healthy options for daily supplementation. Probiotic supplements represent the largest condition-specific category for mass-market retail sales in the United States, and the second-fastest growing condition-specific supplement category whose awareness has led to a major boost in the market. This shows the importance and awareness among people for probiotic supplements.
Today, probiotics are moving beyond digestive health to immunity, feminine health, oral health, skin health, weight control and diabetes, cognitive health, sport endurance, and gut-brain axis, gut-muscle axis and cardiovascular health. Their benefits are proving to be one of the most versatile ingredients of all times and are now being used in fermented beauty products enriched with nutrients and other ingredients, such as probiotics, antioxidants, vitamins, are trending in the market. This in turn is driving the probiotics market growth.
Probiotics Market Geographical Segmentation:
Asia Pacific is projected to be a key market for yogurt in the coming years. China holds a huge opportunity for both domestic and international companies to penetrate the yogurt market as the consumption of yoghurt is on a large scale.
North America and Europe are huge markets for probiotics owing to the ban on the usage of antibiotics in animal feed in several European and North American countries, increasing product innovations in the form of chocolates, biscuits & others, increasing demand of probiotic based medicines due to proven positive results for reducing risk of chronic diseases such as diarrhoea & bowel diseases related to antibiotic use and rising demand for fermented food in daily diet.
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Key Players of the Probiotics Market:
Some of the leading market players of Probiotics Market are CHR. Hansen Holdings A/S, Danone, Nestle S.A, Yakult Honsha Co. Ltd, E. I. DuPont de Nemours, BioGaia AB, Lifeway Foods, Inc, Probi AB, Nebraska Cultures Inc, Probiotics International Ltd and more.
Probiotics Market Segmentation:
By End Users:
· Human
· Animal feed
By Application:
· Food & beverages
· Dietary supplements
By Region:
· North America
· South America
· Europe
· Asia Pacific
· Middle East and Africa
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