Worldwide probiotics market is projected to accumulate over US $77,240 million by the year 2026, according to the latest research available at Market Study Report LLC, report provides extensively data on market share, growth, trends and forecasts for the period 2017-2026.
As per the report, significant factors such as changing lifestyles, considerable increase in disposable income, and various initiatives taken by market players for promoting natural products, drive the global probiotics market growth. Probiotics generally offer multiple health benefits such as healthier skin, improved digestion, reduced chances of cold & flu, stronger immune system, etc., which have highly stimulated their demand over the past few years. Surging awareness about the use of probiotics in foods & beverages, and research & development aimed at advancement are other crucial factors fueling the growth of the global market. Moreover, rising demands from the emerging nations would offer countless growth prospects to all market players during the forecast timeline.
According to market analysts, the rise in per capita income and changes in consumer behavior would accelerate the adoption of probiotics in the following years. Consumers are becoming more aware about health and seek preventive health measures, which in turn, bolsters market demand.
Probiotics are derived from two major sources – bacteria and yeast. Based on the findings of the report, the bacteria segment held the highest market share in the worldwide probiotics market, in the year 2017. Healthy bacteria are basically used for their numerous benefits including enhanced immunity, lower chances of cold & flu, higher lactase production and prevention of diarrhea & irritable bowel syndrome, among others. Rising awareness, coupled with wide-ranging research & development for further advancement, is expected to supplement the probiotics market growth over the predicted timeframe.
Speaking of the application spectrum, the global probiotics market is fragmented into functional food & beverages, animal feed, and dietary supplements. As reported, the functional food & beverages segment dominated the global market in terms of revenue, during the year 2017. Based on the end-use outlook, the global probiotics market has been fragmented into human probiotics and animal probiotics.
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On the basis of regional segmentation, the worldwide probiotics market is divided into North America, Latin America, Asia Pacific, Europe, and Middle East & Africa. The North American market comprises the United States, Mexico, and Canada, while the European market covers the United Kingdom, Germany, Italy, France, and the rest of Europe. The Latin America region includes Brazil, and the APAC region is sub-divided into India, Japan, China and the rest of APAC.
Based on the findings of the report, the Asia Pacific region generated the highest market revenue in the global probiotics market in the year 2017 and is anticipated to be the leading contributor to the global market revenue over the projected timeframe. Market growth in the region is triggered by the increasing geriatric population and rising disposable income. The burgeoning demand for health products in the region, along with the surging awareness about the benefits of probiotics, would further augment the market development. Amplifying demand for animal feed and healthy livestock is likely to enhance the adoption of probiotics over the estimated period, cites the report.
The latest report also provides an exhaustive scrutiny of the global lubricants market drivers, challenges, and opportunities which are believed to impact the commercialization scope of this industry over the forecast timeline. A brief overview of the market, with respect to ecosystem analysis, Porter’s five forces, PEST analysis, value chain, industry trends, and competitive profiling has also been detailed in the report.
Renowned companies participating in the worldwide probiotics market include Yakult Honsha Co. Ltd., Lifeway Foods Inc., Nebraska Cultures, Nestle S.A., Danone, Ganeden Inc., Lallemand Inc., I-Health Inc., Danisco A/S, Probi AB, BioGaia AB, and General Mills Inc. These companies are focusing on new product launches and teaming up with other market leaders to innovate and introduce new products and cater to the growing needs of consumers.