Global Probiotics Market Expected to Reach $72.74 bn by 2026
Probiotics are defined as live microbial food ingredients that have a beneficial effect on human health. Probiotics are different from other types of bacteria in that they are considered good bacteria or non-pathogenic in healthy people. Moreover, it is a microbial organism which is not harmful which is driving the market growth. The overall Global Probiotics Market was valued at $ 43.13 bn in 2018 and is forecasted to grow at 6.75% CAGR between 2018 and 2026, resulting in 2026 global sales of $72.74bn. However, staggering R&D costs for developing new probiotic strains are restraining the market growth. Moreover, prohibition on the use of Antibiotic Growth Promoters (AGPS) in Feed in the EU provide ample opportunity for market
Global Probiotics: Key Segments
Product: - Amongst Types & Product, Probiotic Food & Beverages segment captured the largest market share of the global market due probiotics constitute a constantly growing multi-billion-dollar industry and are one of the most commonly consumed food & beverages supplements worldwide. Foods such as yogurt, cheese, ice cream, snacks and nutrition bars, breakfast cereals and infant formulas are supplemented with probiotics.
Ingredient: - Amongst Ingredient, Yeast segment captured the largest market share of the global market due to Yeasts, as an inevitable part of the microflora of various fermented foods and beverages, are found in a wide range of foods from plant or animal origin, where they have a significant impact on food safety and organoleptic properties.
Distribution Channel: Amongst Distribution Channel, EGFR segment captured the largest market share of the global market due to Functional dairy and fortified juices witnessed an increased demand among the supermarkets/hypermarkets. Supermarkets/hypermarkets offer shoppers a one-stop shopping experience in a wide range of products of different brands, enabling them to make an easy purchase. Supermarkets are considered to be the best platform for the launch of new products, particularly the food and beverage segment. It has been observed that new product launches increase the demand for probiotic in supermarkets/hypermarkets. Continuous growth in demand globally is boosting the purchase of probiotics in this retail mode.
Function: Amongst Function, Preventive Healthcare segment captured the largest market share of the global market due to probiotics have the potential to affect health and disease far beyond the gut. There is increasing evidence that probiotics have beneficial effects in preventing a wide range of conditions and improving health.
End-User: Amongst End User, Animal Probiotics segment captured the largest market share of the global market due to the prohibition on manufactured antimicrobial growth promoters (AGP's) in Europe is a factor driving the probiotics showcase. The intention behind the boycott was to check the act of utilizing anti-infection agents, antimicrobials, and different medications for advancing the development of animals and expanding the generation of meat, milk, and different products.
Region Type: - Probiotics market covers North America, Europe, Asia Pacific and the Rest of the world. North America region dominated the Probiotics market due to massive open doors for animal probiotic products, as governments are becoming progressively worried about the health and productivity of ranch animals. Health deterioration in animals because of the utilization of AGPs has additionally urged domesticated animals owners to utilize probiotic-based feed. The use of probiotics is evaluated to increment at a quick pace in the Asia Pacific, because of the rising consumer request.
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Key Market Drivers: -
Global Probiotics Market Trends
- Rising Probiotics in Poultry Nutrition:
Poultry is the cheapest source of animal protein, contributing significantly to supplying the growing demand for animal food products around the world. The consumption and trade in poultry products are increasing rapidly as the human population increases, making it the second-largest source of meat after pork. Probiotics can improve broiler chicken growth rates and control or prevent enteric diseases, including; salmonellosis.
Global Probiotics Market: Restraint
- Rising investment in R&D:
Significant rise in health concerns to a great extent supplements the market growth in emerging nations such as China and India. These days, organizations have built up their very own R&D centers to take into account the necessities of the business and accordingly stay competitive in the market. In the future, staggering investment in R&D activities is expected to improve the nature of the probiotic products.
Global Probiotics Market: Opportunities and Challenges
- Rising health concerns:
Current, most individuals experience the ill effects of vaginal infection, gastrointestinal infections, digestive problems, obesity problems, and others. With this feature in thought, major companies working in this market are creating probiotic products that aid them to cure such types of diseases. The impact of developing health concern is moderate in the probiotics market, and its effect is relied upon to increase in the near future.
- Lack of awareness among consumers:
As of now, the familiarity with probiotics items among buyers is low, is a challenge for market growth. But conferences by the International Food Information Council (IFIC) functional food fact sheets and several publications are expected to make awareness regarding their benefits.
Probiotics Market Based on Product (Market Size and Forecast, and Y-o-Y Growth, (US$ Mn)
- Probiotic Dietary Supplements
- Probiotic Food & Beverages
Probiotics Market Based on Ingredient (Market Size and Forecast, and Y-o-Y Growth, (US$ Mn)
Probiotics Market Based on Distribution Channel (Market Size and Forecast, and Y-o-Y Growth, (US$ Mn)
- Specialty Stores
- Online Sales
Probiotics Market Based on Function (Market Size and Forecast, and Y-o-Y Growth, (US$ Mn)
- Regular Use
- Preventive Healthcare
Probiotics Market Based on End User (Market Size and Forecast, and Y-o-Y Growth, (US$ Mn)
- Human Probiotics
- Animal Probiotics
Probiotics Market Based on Geographic Region (Market Size and Forecast, and Y-o-Y Growth, (US$ Mn)
- North America
Probiotics Market Competitive Analysis (Company Overview, SWOT Matrix, Financial, Product Overview, and Market Strategies)
- Arla Foods, Inc
- BioGaia AB
- Danisco A/S
- Nestle S.A
- Yakult Honsha Co., Ltd
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