Jersey City, New Jersey, Dec. 13, 2021 (GLOBE NEWSWIRE) -- Verified Market Research recently published a report, “Probiotics Market” By Product (Food And Beverages, Dietary Supplements), By Application (Human, Animal), and By Geography. According to Verified Market Research, the Global Probiotics Market size was valued at USD 53.72 Billion in 2020 and is projected to reach USD 90.57 Billion by 2028, growing at a CAGR of 6.81% from 2021 to 2028.
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Browse in-depth TOC on “Probiotics Market”
202 - Pages
126 – Tables
37 – Figures
Global Probiotics Market Overview
Some of the major factors that are anticipated to drive the growth of the Probiotics Market are increasing demands for probiotics in fortified foods owing to the increasing awareness about their benefits, and the interests of consumers to purchase premium products incorporated with probiotics. Increasing growth in the food and beverage industry as a result of high consumer spending and favorable government support is expected to be a major factor that is expected to fuel the Probiotics Market growth in the coming years. The rise in demand for fortified food products among health-conscious consumers in North America and Europe is also expected to boost Probiotics Market growth. In October 2019, Yakult Honsha, one of the leaders in the Probiotics Market expanded the sale of its Yakult 1000 probiotic stress relief drink across Japan.
Additionally, the global demand for probiotics is increasing significantly due to the growing awareness among customers about their direct relation to digestive health benefits, the rise in demand for nutritious food, and the increase in demand for quality animal-based products. Moreover, in the Asia Pacific region, there is a rising emphasis on preventive healthcare that includes a healthy lifestyle and good dietary choices that help prevent the occurrence of diseases. This fuels the market growth in this region contributing to the overall market growth. Furthermore, probiotic dietary supplements have become more popular among consumers looking for natural solutions to various health ailments. Also, probiotics, as opposed to pharmacological solutions, have become a natural way of treating a variety of illnesses related to gut health, gastrointestinal conditions, and immunity strengthening. Huge growth opportunity lies among the aging population that is becoming aware of the health benefits of probiotics.
Key Developments
- In May 2020, Probi AB signed a long-term R&D collaboration agreement with Competence Centre on Health Technologies (CCHT). The collaboration aims at developing novel products based on probiotic lactobacilli strains for women’s health.
- In December 2020, Danone S.A. launched a probiotic product for preventing lactation mastitis in breastfeeding mothers. This product is sold exclusively in China.
Key Players
The major players in the market are Probi AB, BioGaia AB, Nestlé S.A., Danone S.A., Yakult Honsha Co., Ltd., Lallemand Inc., Lifeway Foods Inc., Dupont de Nemours, Inc., Kerry Group Plc, Archer Daniels Midland Co., among others.
Verified Market Research has segmented the Global Probiotics Market On the basis of Product, Application, and Geography.
- Probiotics Market, By Product
- Food & Beverages
- Dietary Supplements
- Probiotics Market, By Application
- Human
- Animal
- Probiotics Market by Geography
- North America
- U.S
- Canada
- Mexico
- Europe
- Germany
- France
- U.K
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
- ROW
- Middle East & Africa
- Latin America
- North America
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Nutraceutical Excipients Market By Functionality (Binders, Fillers & Diluents, Coating Agents), By End Product (Prebiotics, Probiotics, Proteins & Amino Acids, and Vitamins), By Form (Dry and Liquid), By Application (Pain Management, Education and Training, Surgery and Patient Care Management), By Geography, Forecast, 2021-2028
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