Market Research Report
Probiotics are the latest craze in the food industry, turning up in everything from pizza to chocolate. Probiotics are now expanding at 20% to 30% a year. They are actually live microbes. They are beneficial bacteria that promote human health when consumed in enough quantities. Probiotics produce a number of vitamins including B6, B12 and K2, and aid the absorption of minerals such as iron, calcium and magnesium. Hence, they can be called as ‘New Vitamins’. They also fend off bad bacteria which can cause diarrhoea, kidney failure etc.
The key factors driving this market are extensive application scope in functional food and dietary supplements industry. Strong scientific evidence for disease treatment and auxiliary health benefits provided including curing intestinal inflammation, urogenital infection and bad gut bacteria treatment should facilitate product demand.
Growth in livestock production due to the growing demand for meat and consumer awareness for livestock health & product quality has have positive impact on probiotic market. Animal feed-based product demand can be traced to better hatchability paired with improved digestive and immune system. Poultry meat production is the fastest growing segment which was over 100 million tons in 2016 and expected to grow substantially during forecast timeframe. Increasing consumer preference towards natural products united with growing interest for preventive healthcare increases product demand. Binding regulations set forth on using antibiotics as growth promoter due to its diminishing curability potential on excessive use favours probiotics market size. Developing technology in medicinal industry can help develop medicine useful in diagnosing mental illness and neurological disorder. However, urge for efficient packaging, standardized labelling parameters and low shelf life of product threats for industry growth. Any variation in raw material availability and periodic production can affect probiotics market price trend.
The global probiotics market is segmented by application, source, end user and geography.
Probiotics Market by Application
By application, this market is segmented into functional food & beverages, dietary supplements and animal feed. Functional food is further segmented into dairy products and baked goods. Baked goods include non-dairy beverages, fermented meat and cereal.
Probiotics Market by Source & End Users
By source, the global probiotics market is segmented into Bacteria and Yeast. Bacteria includes Lactobacilli and Bifidobacterium. Lactobacilli segment consists of Lactobacillus Acidophilus, Lactobacillus Rhamnosus, Lactobacillus Casei and Lactobacillus Rheuteri. Whereas, animal and human are the only two end users of probiotic market identified and explained in this report.
Probiotics Market by Geography
Based on geography, the global probiotics market can be segmented into North America, Latin America, Europe, APAC and Middle East & Africa. Asia-Pacific leads the probiotics market, followed by Europe. LAMEA is also anticipated to grow at a constant rate in the future. The growth of this market is anticipated to be driven by the increasing pharmaceutical & supplements sector, drying and storage methods coupled with increasing per capita income. Increase in veteran population is observed particularly in the U.S. and Europe due to low immunity and associated digestive disorders & illness with aging which could be one of the drivers for driving the market. High intake of supplement prevents growth of harmful bacteria inside the digestive plot and leads to augmented nutrition absorption.
Some of the key players of this market are Yakult Honsha, BioGaia AB, Danone, DuPont, Probi AB, Ganeden, Protexin, Lifeway Foods, Chr Hansen Holding A/S, Nestle S.A., Amul, Attune Foods, LLC, Bright Food Co. Ltd. Etc.
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The global probiotics market is classified based on application, source, end users and geography. By application, the market is segmented into functional food & beverages, dietary supplements and animal feed. Functional food & beverage segment is expected to grow rapidly during the forecast period of 2019 to 2024. Geographically, the market of probiotics in Asia-Pacific is projected to be the largest followed by Europe. North America and Rest of the World are expected to grow at consistent growth rate until the end of 2024. The development of this market is foreseen to be driven by the expanding pharmaceutical and supplements part, drying and capacity strategies combined with rising disposable income. Increment in veteran populace is watched especially in the U.S. also, Europe because of low resistance and related stomach related disarranges and ailment with maturing which could be one of the drivers for driving the market. Some of the key players of this market are Yakult Honsha, BioGaia AB, Danone, DuPont, Probi AB, Ganeden, Protexin, Lifeway Foods, Chr Hansen Holding A/S, Nestle S.A., Amul, Attune Foods, LLC, Bright Food Co. Ltd. Etc.
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