Probiotics Market Size, Trends, Growth Opportunities, Analysis and Forecast To 2026
New York, 27,Dec 2019 : According to a new study published by Polaris Market Research theĀ probiotics marketĀ is anticipated to reach over USD 77,240 million by 2026. In 2017, the functional food and beverage segment dominated the global market, in terms of revenue. Asia-Pacific is expected to be the leading contributor to the global market revenue during the forecast period.
A significant increase in disposable income, changing lifestyles, and initiatives by market players to promote natural products drive the growth of this market.Ā The health benefits offered by probiotics such as enhanced digestion, stronger immune system, healthier skin, decreased chances of cold and flu have increased its demand significantly over the years. Other factors supporting market growth include increasing awareness regarding use of probiotics in food products and beverages, and research and development for advancement. Increasing demand from developing nations is expected provide numerous growth opportunities to the market players during the forecast period.
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Improvement in lifestyle and increasing disposable income, especially in the developing countries of Asia-Pacific fuels the demand for probiotics market. Factors such as increase in per capita income and changes in consumer behaviour are expected to accelerate the adoption of probiotics in the coming years. Consumers are increasingly becoming aware regarding their health and taking preventive health measures, thereby promoting the adoption of probiotics.
Asia-Pacific generated the highest revenue in the market in 2017, and is expected to lead the global market throughout the forecast period. The rising geriatric population in the region, and increasing disposable income drive the market growth. The increasing demand of health products in the region along with increasing awareness regarding benefits of probiotics further support market growth. The increasing demand of probiotics for animal feed and growing demand for healthy livestock is expected to accelerate the adoption of probiotics during the forecast period.
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The well-known companies profiled in the report include Danone, Yakult Honsha Co., Ltd., Nestle S.A., Lifeway Foods, Inc., Ganeden, Inc., Probi AB, BioGaia AB, Danisco A/S, Nebraska Cultures, Lallemand Inc., General Mills, Inc., and I-Health Inc. among others. These companies launch new products and collaborate with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.
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