iCrowdNewswire Feb 17, 2021 9:00 AM ET
The Global Probiotic Market was valued at USD 45.62 billion in 2019 which is anticipated to reach USD 78.90 billion by 2027 at a CAGR 7.66%.
Probiotics are defined as the live bacteria and yeasts which are similar to beneficial microorganisms found in the human gut that are taken as dietary supplements. The increase in awareness regarding preventive healthcare is anticipated to benefit the overall global probiotics market growth.
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The increase in demand for probiotics in various industries is expected to boost the global probiotics market growth during this forecast period. Furthermore, the rise in investments in research and development activities to develop efficient probiotic strains will positively influence the market growth. Also, the increase in demand for probiotic dietary supplements by consumers is expected to drive the global probiotic market growth over the forecast period. Moreover, the rise consumer awareness about value-added products will drive the market growth during this forecast timeline. In addition to that, continuous technological advancements will support the market growth.
Stringent international quality standards and regulations for probiotic product is expected to hamper the global probiotics market growth. Also, high research and development costs for developing new probiotic strains will limit the global probiotic market growth.
The Global Probiotics Market is segmented into product such as Food & Beverages, Dietary Supplements, by ingredients such as Bacteria, and Yeast, by end use such as Human probiotics, and Animal Probiotics. Further, market is segmented into distribution channel such as Hypermarkets, Pharmacies, Specialty Stores, and Online Stores.
Also, global probiotics market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
Market Key Players
Some key players are discussed in this report such as Chr. Hansen, Danone, Yakult Honsha, Morinaga Milk Industry Co., Ltd ,DowDuPont, Kerry, Probi AB, Nestle, Biogaia,., and Glac Biotech.
- Food & Beverages
- Dietary Supplements
By End Use
- Human probiotics
- Animal Probiotics
By Distribution Channel
- Specialty Stores
- Online Stores
- North America
- Latin America
- Asia Pacific
- Middle East & Africa
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