LOS ANGELES, June 18, 2019 (GLOBE NEWSWIRE) -- The global probiotics market size is poised to reach around USD 78 billion by 2026 and will grow at CAGR above 6.6 % from period 2019 to 2026.
Increasing prominence of preventative medicine is one of the main drivers of probiotic demand worldwide. Innovative testing solutions by the main players, especially in nations such as China, Japan and China, are complementing significant productions and consumption of probiotics.
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Following increased demand for probiotics, main market players have invested in R&D to create effective probiotic strains. The probiotics sector has also seen improvements in the provision of probios to humans and livestock in the provision of probios. Such developments are anticipated to become a trend in the sector during the prediction. Probiotics are primarily marketed as nutritional supplements in advanced nations such as the United States. The increasing aging population and enhanced customer interest in preventive health care have stimulated the demand for probiotic nutritional supplements.
In relation to other nutritional supplements, market players have launched fresh goods with additional probiotics. Test supplements comprising several probiotic types, such as probiotic drops, tablets, and capsules, are accessible in multiple forms. Probiotic product categories are likely to be extended by private label manufacturers and branded product groups. The increasing product lines and diversification in this sector are aimed at enabling producers to meet varied trends in demand worldwide. The same factor is the rise in the manufacturing quantity of retail channels in line with changing customer tastes and preferences.
Asia Pacific dominated the probiotics sector by around 40% in 2018. During the prediction period, the area is anticipated to maintain its prominent role. The area has had a major impact on the implementation of probios in the last century. This is due to the level of health awareness in the area combined with greater availability of probiotic products. Another important observation regarding probiotic consumption in Asia Pacific is the increasing popularity of probiotic vegetarian goods, due to the healthy rise in consumer vegetarianism.
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Over the years, the market in probiotics for Asia Pacific has also seen prominent industry members introduce fresh launch / product innovations. For example, Yakult Danone launched probiotic beverages in a fresh version in India in February 2018. New formulations were in place including Vitamin D & E with the Shirota (LcS) strain of Lactobacillus casei. Due to the big consumer base, such developments are anticipated to increase in the region during the forecast period.
Key Players
Probiotic drinks appeared in 2018 with a turnover of about USD 40 billion as the biggest market segment for product type. Cereal-based fermented drinks with a probiotic content are widely consumed worldwide, thus helping the segment grow.
The section of bacteria should dominate the market over the entire forecasted era as regards the ingredient. The segment's development is motivated to keep urogenital health / vaginal health by the growing use of bacteria.
For end use, over the forecast period, the segment of animal probiotics is projected to grow by comparatively quickly over 7%. Increasing emphasis on improving animal health has fueled the demand for animal nutritional probiotics.
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The biggest and fastest-growing regional segment in Asia Pacific is predicted to be over the forecast term. Over the projected era the platform for a good and powerful development has been launched in new prebiotics, innovations in probiotics distribution technologies and the participation of important players.
Key Players & Strategies
Lallemand Inc.; Danisco AS; Hansen, Danone; Nestle; and Chr. Arla Foods, Inc.; are some of the main actors in the industry. Through established distribution channels, those players guide the market with their worldwide presence. The main players conclude long-term supply contracts with different distribution channels to resist competition. The focus of important players in the South-East Asian markets is increasingly being seen over the years because of the region's substantial consumer base.
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