(MENAFN Editorial) Global Probiotic Market, by bacterial type (Lactobacillus, Streptococcus, Bifidobacteria, others), by application (Food and Beverages, dietary supplements and animal feed) and by End use (human probiotics and feed probiotics) - Global Forecast 2027
Market Overview:
Due to the large number of health advantages associated to probiotics consumption, the market is growing at an exponential pace of development on the global stage. Market Research Future, a firm which specializes in market reports related to the Food, Beverages & Nutrition sector among others, recently forecasted in its report on Global Probiotics Market Research Report- Forecast to 2027 that the market will demonstrate an exceptional CAGR while achieving million dollar growth readily in the forecast period.
Health awareness and gut related disorders have prompted the growth of probiotics in the daily diet of individuals. The sector is driven in a major way by the demand directed from the food & beverage and pharmaceutical sectors. Probiotics have also emerged as a potential functional food or nutraceuticals. Health benefits gained out of probiotics consumption are the main drivers to the development of this segment. Growth of the nutraceuticals market has also provided an impetus for the increased demand of this sector.
Health factors like maintenance of proper gut health, enhanced body's metabolism can be effectively addressed with the incorporation of probiotics into daily diet. Increase in wellness sector awareness has enhanced the market growth trajectory of the sector to an elevated level. Increasing consumer's awareness owning to product promotions through various channels has added fuel to this segment. However, product adulteration is seen to possess high risk and is considered to be a major challenge to this market.
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Latest Industry Updates:
April 2017 BioGaia aims to expand their probiotics business and has agreed to launch their oral health probiotic in three new markets including Canada, the Philippines and Vietnam. Escalating demand for probiotics and consumers increasing awareness has raised the demand in various countries. In order to meet the growing demand, company has taken this step to expand across its regional presence.
Sept 2017 Yakult, who is a major player in the probiotics market announced the launch of its new probiotic products which is under a development stage. The company focuses on satiating the rising demand of health and functional food segment.
Mar 2016 GoodBelly launched four new product lines including GoodBelly Protein Shake, GoodBelly Juice Drink, GoodBelly Sparkling Drinks and GoodBelly Ade owning to rising consumers demand for probiotic functional beverages. The strategy will broaden the company's product portfolio and will help in expanding their consumer base.
Sep 2016 Tropicana Products, Inc., which is a division of PepsiCo, Inc. launched Tropicana Essentials Probiotics. The product is a new 100% juice beverage with probiotics. The unique formulation and innovation will capture the attention of mass consumers thus further increasing the sale of the products.
Major Key Players:
With the entry of new industrial players in the probiotics segment, established players are continuously involved in product improvisations and constantly keep adding new products to their offerings. With companies aiming to capture a considerable share of the market segment as early as possible, they are competing in terms of quality and creating product differentiation to gain consumers attention. The best long-term growth opportunities for this sector can be captured by ensuring ongoing financial investments in the optimal strategies.
The key players profiled in probiotics are BioGaia (Sweden), China-Biotics, Inc. (China), Danisco A/S (Denmark), Danone (France), Nestlé SA (Switzerland), Yakult Honsha Co., Ltd. (Japan), Arla Foods (Denmark), Lifeway Foods (U.S.), Mother Dairy Fruit & Vegetable Pvt (India), Nebraska Cultures, Inc. (U.S.), Lallemand Inc. (U.S.) and Chr. Hansen A/S (Denmark)
Market Segments:
The global probiotics market has been divided into source, form, application, end-user and region.
On The Basis Of Source: Bacteria and Yeast
On The Basis Of Form: Dry, Liquid, Others
On The Basis Of Application: Food & Beverages, Dietary Supplements, Animal Feed and Others
On The Basis Of End-User: Human and Animals
On The Basis Of Region: North America, Europe, Asia Pacific and ROW.
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Regional Analysis:
The global probiotics market is segmented into North America, Europe, APAC, and Rest of the World (RoW). Global probiotics market is highly dominated by North America due to the rising consumption of healthy food products in that region. APAC is fastest growing region due to changing lifestyle and improved disposable income in that region. The consumption of probiotics in developing counties like India, Brazil and China is expected to grow in upcoming years.
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