According to a new market research report titled “Probiotics
Market by Strain (Bacteria {Bacillus}), Product Type (Dairy Food {Yogurt, Baked
Food}), Form (Liquid), Sales Channel (Super Markets, Pharmacies), End User
(Human {Adults, Senior}, Animal), and Geography– Global Forecast to 2027,”
published by Meticulous Research®, the probiotics market is expected to reach
$75.9 billion by 2027, at a CAGR of 5.6% during the forecast period of 2020 to 2027.
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Probiotics are live microorganisms that are intended to have
health benefits when consumed or applied to the body. They can be found in
yogurt and other fermented foods, dietary supplements, and beauty products. New
areas are predicted to become increasingly attractive outside classic probiotic
applications, primarily vaginal and urinary tract disorders, due to the growing
interest in treatments without antibiotics. Thus, the growing scientific
research related to probiotics and their increasing application across various
health areas, such as vaginal health, urinary tract disorders, and mental
disorders, is expected to grow the demand for probiotics in the coming years.
In addition, growing consumer awareness regarding the health
benefits of probiotic-induced foods, increasing use of probiotics as an
alternative to antibiotics, the growing use of probiotics in infant feeding, and
e-commerce growth are the major factors expected to create lucrative
opportunities for players operating in this market. However, stringent
regulations related to probiotics are expected to hinder this market's
development to some extent.
The market is segmented based on strain, product type, form,
sales channels, end user, and geography. The study also evaluates industry
competitors and analyses the market at a country level.
Impact of COVID-19 on the Probiotics Market
The probiotics market is experiencing a positive impact
mainly due to the key role of probiotics in the immune health system. The
benefits of probiotics were hailed as an effective supplementary method for
tackling the virus. For instance, probiotic products have been selling well in
Japan under the COVID-19 outbreak. According to Yakult Honsha, year-on-year
sales results of Yakult branded probiotic products increased by 11.5% in March
and 10.3% in April 2020. Also, Probi and Danone SA shoot for growth in
probiotic markets amid COVID-19 disruptions.
Meanwhile, Meiji Holdings also announced that its dairy
products' value sales, including yogurt, have witnessed positive growth in
February and April 2020. Particularly, functional probiotic yogurt products are
selling well. Thus, the positive impact of COVID-19 on the probiotics market is
expected to boost its demand in the market.
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Key Findings in the Global Probiotics Market Study:
Based on strain, the overall probiotics market is mainly
segmented into bacteria and yeast strains. The yeast strains segment is
expected to grow with the fastest CAGR during the forecast period. The fast
growth of this segment is mainly attributed 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 for yeast strain-based medicines due to proven
positive results for reducing the risk of chronic diseases, such as diarrhea
& bowel diseases related to antibiotic use; and rising demand for fermented
food in daily diet.
Based on product type, the overall probiotics market is
mainly segmented into functional food & beverages, medical & dietary
supplements, and animal feed. In 2020, the functional food & beverages
segment accounted for the largest share of the overall probiotics market. This
large share can be primarily attributed to the growing consumer interest in
functional food, particularly probiotics that can support digestive health;
rising health and wellness trends; and the growing application of probiotics in
yogurt. However, the medical & dietary supplements segment is expected to
grow at the highest CAGR during the forecast period.
Based on form, the overall probiotics market is mainly
divided into liquid and dry forms. The dry form segment is expected to grow
with the fastest CAGR during the forecast period. The fast growth of this
segment is mainly due to its longer shelf life. Besides, some of the advantages
offered by solid probiotics include better handling & transport, ease of
use, inexpensive nature, and the ability to avoid costly formulation mistakes
& maintain the stability of the ingredient functionality until utilized.
However, in 2020, the liquid form segment accounted for the largest share of
the probiotics market.
Based on sales channel, the overall probiotics market is
segmented into offline and online. In 2020, the offline segment accounted for
the largest share of the overall probiotics market. The large share of this
segment is mainly attributed to the increasing per capita disposable income,
rising healthy eating habits, and growing urban population. Besides, a rise in
the number of pharmacies and the growing probiotics supplements industry in the
U.S. and worldwide offers significant opportunities for offline sales of
probiotics. However, the online sales segment is expected to grow with the
fastest CAGR during the forecast period.
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Based on end user, the overall probiotics market is
segmented into humans and animals. The animal’s segment is expected to grow
with the fastest CAGR during the forecast period. The animal probiotics sector
has witnessed significant growth due to the growing pressure regarding reducing
antibiotics in feed. Further, the growing awareness among pet owners, cattle
farmers, and hobbyists regarding the advantages of probiotics for animal health
offer significant opportunities for players operating in the animal probiotics
market. However, in 2020, the human segment commanded the largest share of the
market.
Geographically, Asia-Pacific region is expected to grow at
the highest CAGR during the forecast period. The fast growth of this region in
the global probiotics market is primarily attributed to the increased consumer
awareness about digestive health & immunity and overall wellness; growing
diabetic and overweight people in Asia-Pacific; and rising innovations in
probiotics formulations.
Some of the key players operating in the global probiotics
market are Probi AB (Sweden), BioGaia AB (Sweden), Nestlé S.A. (Switzerland),
Chr. Hasen Holding A/S (Denmark), Danone S.A. (France), Yakult Honsha Co., Ltd.
(Japan), Lallemand Inc. (Canada), Lifeway Foods Inc. (U.S.), Dupont de Nemours,
Inc. (U.S.), Kerry Group plc (Ireland), Archer Daniels Midland Co. (U.S.),
Deerland Probiotics & Enzymes Inc. (U.S.), KeVita, Inc. (a part of PepsiCo
Inc.) (U.S.), Evolve BioSystems (U.S.), Cell Biotech Co., Ltd. (Korea), and
Probiotical S.p.A. (Italy) among others.
To gain more insights into the market with a detailed
table of content and figures, click here: https://www.meticulousresearch.com/product/probiotics-market-5113?utm_source=article&utm_medium=social&utm_campaign=product&utm_content=16-03-2023
Probiotics market, Nutrition, Plant based products, Prebiotics,
Postbiotics
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