DUBLIN, July 23, 2021--(BUSINESS WIRE)--The "Global Probiotics Market by Application (Functional Food & Beverages (Dairy Products, Non-dairy Beverages, Infant Formula, Cereals), Dietary Supplements, Feed), Ingredient (Bacteria, Yeast), Form (Dry, Liquid), End User, & Region - Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.
The global probiotics market is estimated to be valued at USD 61.1 billion in 2021 and is projected to reach USD 91.1 billion by 2026, at a CAGR of 8.3% during the forecast period.
Factors affecting the growth of the probiotics market are health benefits associated with probiotic-fortified foods and technological advancements in probiotic products.
Key drivers for the market's growth are the increasing use of high nutritional content in foods due to increasing consumer awareness about healthy diets. In Asian countries, particularly in Japan, the increase in the aging population is a lucrative opportunity for the sale of probiotic supplements in the region. The stringent regulations for probiotics products to meet the international quality standards is acting as the major restraint.
Yeast is projected to be the fastest growing ingredient of probiotics
Based on ingredients, the yeast segment is projected to be the fastest-growing during the forecast period. The increasing demand for products incorporating Saccharomyces boulardii, a unique tropical yeast with several beneficial, effects on human intestinal health positively. Increasing awareness about the health benefits of probiotics has driven the consumption of probiotic yogurts in developing countries such as China, Brazil, and India. In Japan, a variety of probiotic-containing products are available in supermarkets, ranging from fortified drinks to candies containing strains from the Lactobacillus and Bifidobacterium genera.
The food & beverages application segment for probiotics is estimated to account for the largest share in 2020
Based on application, the food & beverages segment is estimated to account for the largest share in the probiotics market in 2020. The products under this category include foods & beverages that offer distinct health benefits beyond fundamental nutrition, due to their specific ingredients. The food & beverages segment is the largest revenue-earning market across regions.
High growth is projected in the Asia Pacific probiotics market
The Asia Pacific is projected to be the fastest-growing market for the period considered for this study, owing to the rising disposable income, urbanization, and the increase in demand for nutritional food products, along with the growing technology base, leading to the increased demand for probiotics in the region. The rapid economic growth in countries such as China, Japan, Brazil, and Argentina has led to a significant increase in the disposable incomes of livestock owners. This, in turn, is driving the demand for probiotic-based food, making the Asia Pacific the fastest-growing market globally.
Health benefits associated with probiotic-fortified foods
Increasing popularity of probiotic dietary supplements
Participation of international bodies in R&D of probiotic products
Rising health consciousness among consumers
Technological advancements in probiotic products
Market competitiveness in the probiotics market
International quality standards and regulations for probiotic products
High R&D costs for developing new probiotic strains
Instances of allergies to some probiotic supplements
Probiotics can replace pharmaceutical agents
Ban on the use of antibiotic growth promoters in feed in the Eu
Increase in demand for probiotics in developed economies
Change in consumption pattern with the growing incidence of chronic diseases
Rising consumer awareness related to value-added products
Complexities in integrating probiotics in functional foods
Intolerance of probiotics to stomach acid and bile
Archer Daniels Midland Company
Deerland Probiotics & Enzymes
Unique Biotech Ltd
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