The report is titled’ ‘Probiotics Market: Opportunity Analysis and Future Assessment 2020-2028’. An overview of conceptual frameworks, analytical approaches of the probiotics market is the main objective of the report, which further consists of the market opportunity and insights of the data involved in the making of the respective market. The probiotics market is expected to grow at a significant rate in the near future.
The probiotics market is estimated to reach at a value of US$ 61.9 Bn by the end of 2022 and expected to reach at a value of US$ 105 Bn by 2030 with a significant CAGR of 6.8%.
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According to the World Health Organization (WHO), probiotics can be defined as living microorganisms which when administered in adequate amounts confer a health benefit on the host. The probiotics are generally consumed for the improvement or restoration of the gut flora. In general, numerous bacteria are classified as probiotics, but the major one accounts for Lactobacillus, Bifidobacterium, and Saccharomyces boulardii.
The Lactobacillus is the most common probiotic, which is easily found in yogurt and other fermented foods. It is proved beneficial for people suffering from diarrhea and is lactose intolerant. The Bifidobacterium species are available in some dairy products and it eases irritable bowel syndrome (IBS) and some other conditions. Lastly, the Saccharomyces boulardii is a yeast found in probiotics and fights diarrhea and other digestive problems.
Probiotics Market Dynamics
Thus, the health benefits linked with probiotics enriched foods serve to be the major growth favoring factor for the global probiotics market. Factors such as the rising health awareness among consumers regarding the regular consumption of healthy food products with the incorporation of probiotics for strong health benefits acknowledge the demand for probiotics.
In addition, the growing awareness about probiotics as dietary supplements coupled with the rising research and development projects related to probiotics products also aids in boosting the market, shares in the forecast period.
On the flip side, improper international quality standards and related regulations for the probiotic product will limit the market size. Alongside, the shifting consumer preference for probiotics over pharmaceutical agents and the prohibition of Antibiotic Growth Promoters (AGPS) in feed in the EU is expected to offer lucrative growth opportunities during the forecast years.
At the same pace, the complexities associated with the integration of probiotics in functional foods serve to be the challenging factor, restricting the global market growth. As the development of these functional foods is complex and expensive and the common functional ingredients, such as fiber, vitamins, etc. are now replaced with new and improved products, such as foods enriched with probiotics, prebiotics, and others.
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Probiotics Market Segmentation
The global probiotics market is segmented on the basis of form, ingredient, application, end-user, and regions. Based on form, the probiotics market is segmented into liquid and dry. On the basis of ingredients, the market is categorized as bacteria and yeast. The application segment is further divided into functional food & beverages, dietary supplements, and feed. The end-user segment of the probiotics market is categorized into human and animal.
The research report classifies the global probiotics market based on form, ingredient, application, end-user, and regions.
- Functional Food & Beverages
- Dietary supplements
- North America
- Latin America
- Asia Pacific
- Middle East
Probiotics Market Key Players
The global probiotics market is dominated by Chr. Hansen, Danone, Yakult Honsha, DowDuPont, Kerry, Probi AB, Nestle, Biogaia, Morinaga Milk Industry Co., Ltd., Glac Biotech, Bifodan A/S, Lallemand, General Mills, Uas Laboratories, Archer Daniels Midland Company.
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