Selbyville, Delaware, March 11, 2021 (GLOBE NEWSWIRE) -- As per the views of seasoned forecasters and industry experts, worldwide probiotics market size, worth approximately USD 51.72 billion in 2019, is projected to exhibit an appreciable CAGR of over 6.9% during 2020-2027 and reach a valuation of USD 88.20 billion by the end of the forecast period. Developing consumer consciousness regarding healthy diet, along with shifting preferences towards a natural, safe, and cost-effective alternative for drugs are fostering the industry growth.
Further, growing awareness among manufacturers and consumers towards fortifying food products with natural additives is expected to enhance the overall probiotics industry outlook.
For the uninitiated, probiotics are microorganisms, which on consumption, offers health benefits by improving or restoring the gut flora. They are widely available in the form of gels, tablets, capsules, and powder, and can be consumed by humans as well as animals to maintain intestinal microbial balance and digestive health. Apart from this, they are also utilized for diagnosing mental illness, and treating neurological disorders.
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Speaking of the factors hindering global probiotics market progression, high research and development cost coupled with lack of international quality standards and regulations to decrease the side effects of probiotic products are negatively affecting the business landscape.
Regional analysis overview
Europe, North America, Latin America, and Asia Pacific are the key contributors to global probiotics market growth. Among these, Asia Pacific holds a coveted position in the industry, attributable to factors like increasing health conscious population, new product launches by manufacturers as per demographic taste preferences, and usage of probiotics in traditional food products. Further, increasing per capita income, rising investment by manufacturers in R&D, and changing consumption patterns of the economy are supporting the regional market expansion.
Competitive backdrop summary
Top contenders in global probiotics industry sphere are Bifodan A/S, GLAC Biotech Co., Ltd., Lallemand, Inc., DuPont de Nemours, Inc., Kerry Group plc, and Chr Hansen Holding A/S among others. These organizations are driving their focus towards strategies such as acquisitions, partnerships, and new product launches to elevate their position in the marketplace. For instance, Kerry Group, in 2017, acquired US-based probiotics company Ganeden to enter the probiotics business space. Whereas, Chr. Hansen, in 2018, expanded its product strain library for the development of next-gen probiotics.
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Global Probiotics Market Ingredient Sub-Segments (Revenue, 2017-2027, USD Billion)
- Yeast
- Bacteria
Global Probiotics Market Function Sub-Segments (Revenue, 2017-2027, USD Billion)
- Regular
- Therapeutic Application
- Preventative Healthcare
Global Probiotics Market Application Sub-Segments (Revenue, 2017-2027, USD Billion)
- Food & Beverages
- Animal Feed
- Dietary Supplements
Global Probiotics Market End-Use Sub-Segments (Revenue, 2017-2027, USD Billion)
- Animal Probiotics
- Human Probiotics
Global Probiotics Market Regional Segmentation (Revenue, 2017-2027, USD Billion)
North America
- United States
- Canada
Europe
- United Kingdom
- France
- Germany
- Italy
- Spain
- Rest of Europe
Asia Pacific
- India
- China
- Japan
- South Korea
- Australia
- Rest of APAC
Latin America
- Mexico
- Brazil
Rest of the World
Global Probiotics Market Company Profiles (Revenue, 2017-2027, USD Billion)
- General Mills, Inc.
- Nestlé S.A.
- Yakult Honsha Co., Ltd.
- Danone S.A
- Bifodan A/S
- GLAC Biotech Co., Ltd.
- Lallemand, Inc.
- DuPont de Nemours, Inc.
- Kerry Group plc
- Chr Hansen Holding A/S
Table of content:
Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2018-2027 (USD Billion)
1.2.1. Probiotics Market, by Region, 2018-2027 (USD Billion)
1.2.2. Probiotics Market, by Ingredient, 2018-2027 (USD Billion)
1.2.3. Probiotics Market, by Function, 2018-2027 (USD Billion)
1.2.4. Probiotics Market, by Application, 2018-2027 (USD Billion)
1.2.5. Probiotics Market, by End-Use, 2018-2027 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Probiotics Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Probiotics Market Dynamics
3.1. Probiotics Market Impact Analysis (2018-2027)
3.1.1. Market Drivers
3.1.2. Market Challenges
3.1.3. Market Opportunities
Chapter 4. Global Probiotics Market Industry Analysis
4.1. Porter's 5 Force Model
4.2. PEST Analysis
4.2.1. Political
4.2.2. Economical
4.2.3. Social
4.2.4. Technological
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion
Chapter 5. Global Probiotics Market, by Ingredient
5.1. Market Snapshot
5.2. Global Probiotics Market by Ingredient, Performance - Potential Analysis
5.3. Global Probiotics Market Estimates & Forecasts by Ingredient 2017-2027 (USD Billion)
5.4. Probiotics Market, Sub Segment Analysis
5.4.1. Bacteria
5.4.2. Yeast
Chapter 6. Global Probiotics Market, by Function
6.1. Market Snapshot
6.2. Global Probiotics Market by Function, Performance - Potential Analysis
6.3. Global Probiotics Market Estimates & Forecasts by Function 2017-2027 (USD Billion)
6.4. Probiotics Market, Sub Segment Analysis
6.4.1. Regular
6.4.2. Preventative Healthcare
6.4.3. Therapeutic Application
Chapter 7. Global Probiotics Market, by Application
7.1. Market Snapshot
7.2. Global Probiotics Market by Application, Performance - Potential Analysis
7.3. Global Probiotics Market Estimates & Forecasts by Application 2017-2027 (USD Billion)
7.4. Probiotics Market, Sub Segment Analysis
7.4.1. Food & Beverages
7.4.2. Dietary Supplements
7.4.3. Animal Feed
Chapter 8. Global Probiotics Market, by End-Use
8.1. Market Snapshot
8.2. Global Probiotics Market by End-Use, Performance - Potential Analysis
8.3. Global Probiotics Market Estimates & Forecasts by End-Use 2017-2027 (USD Billion)
8.4. Probiotics Market, Sub Segment Analysis
8.4.1. Human Probiotics
8.4.2. Animal Probiotics
Chapter 9. Global Probiotics Market, Regional Analysis
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