Probiotics Market | Size, Business Growth and Forecast to 2025
Market Analysis
Global Probiotics Market is rising continually over the past few years, witnessing an upsurge in sales. Probiotics drinks have gained popularity in recent years with increasing demand in various industries. Increasing emphasis on improving digestive health in humans and animals and the surging demand for natural functional ingredients in application industries are the major driving forces behind the growth of the market. Moreover, rising consumer awareness about the benefits of probiotics and preventive healthcare accelerates market growth.
Moreover, the continually surging market demand is encouraging manufacturers of probiotics and probiotic products to focus on innovation. Thus, investments in product innovation and research & development are boosting the market growth, offering new growth opportunities for probiotic manufacturers. High consumption of functional beverages and dairy-based products is a primary factor impacting market growth, positively.
Competitive Analysis
Highly competitive, Global Probiotics Market Appears fragmented due to the presence of many well-established players. These players compete against each other on the basis of quality, pricing, market reach, and financial resources. To gain a substantially larger share in the market, innovation, mergers & acquisitions, and brand reinforcement remain the key trends for these players operating in the probiotics market. The market will witness fierce competition due to the expected extensions in product developments.
Major Players
Players leading the Global Probiotics Market include Novozymes A/S (Denmark), CHR-Hansen A/S (Denmark), Lallemand Inc. (Canada), Kerry Group (Ireland), Probi AB (Sweden), Sabinsa Corporation (US), Synbio Tech Inc. (Taiwan), DowDupont Inc. (US), Roelmi HPC (Italy), Probiotical SpA (Italy), UAS Laboratories LLC (US), Greentech SA (France), BioCC OÜ (Estonia), and Biosearch, SA (Spain), among others.
Industry/ Innovation/ Related News
December 16, 2019 - International Flavors and Fragrances (IFF – the US), announced entering into an agreement to merge with Nutrition & Biosciences (N&B) business of DuPont, in a deal worth USD 26.2 BN. The new combined company would have an enterprise value of USD 45.4 BN. According to IFF, the deal would enhance its portfolio offerings in categories such as probiotics, nutrition, enzymes, and soy proteins.
With the transaction, the companies aim to become a global leader as a supplier of ingredients and solutions for the food & beverage industry, as well as in the home & personal care, and health & wellness markets. The merger would expand its global reach, making them better equipped to respond to customer demand and increased consumer preferences for natural, healthier, and ‘better-for-you’ products.
Market Segments
The Report is segmented into three main dynamics to widen the scope of understanding,
By Type: BIFIDOBACTERIUM Lactobacillus and others.
By Application: Functional Food & Beverages, Dietary Supplements, Animal Nutrition, and others.
By Regions: Americas, Europe, Asia-Pacific, Middle East & Africa, and Rest-of-the-World.
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Regional Analysis
North America is projected to be the largest region in the global probiotics market during the forecast period. In 2018, the region accounted for 31.60% of the total market share. The US is the major contributor to the growth of the market. Factors such as the rising inclination towards the consumption of healthy and functional food & beverages are leading to increasing the applications of probiotics in the food industry.
Asia Pacific has become another substantially growing market for probiotics owing to robust economic growth, rising urbanization, and increasing middle-income families. Besides, the growth of the application industries in the region acts as a significant growth driver for this market. Among other APAC countries, China is anticipated to witness substantial growth during the forecast period of 2017-2025. The APAC probiotics market is expected to exhibit the highest CAGR during the forecast period.
The European probiotics market is emerging as a profitable market globally. Rising demand for functional beverages and proteins fosters the growth of the regional market. Besides, increasing demand for poultry and swine products supports market growth, boosting the consumption of probiotics in feed supplements. Germany, France, and the UK are the key countries contributing to the regional market growth significantly. Moreover, the rising demand for various nutritional products such as supplements, functional food, and others is boosting the increase in the regional market.
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