BANGALORE, India, July 9, 2021 /PRNewswire/ -- The Probiotics Market Report is Segmented by Type (Bifidobacterium, Lactobacillus, Others), by Application (Food & Beverage, Drugs, Dietary Supplements). The report covers global opportunity analysis and industry forecasts from 2021 to 2026. It is published in Valuates Reports under Vitamins & Supplements Category.
The global Probiotics market size was valued at USD 1665.7 Million in 2019 and is expected to reach USD 2066.1 Million by the end of 2026, growing at a CAGR of 5.4% during the forecast period 2021-2026.
The major factor driving the growth of the global probiotics market size are:
Growing awareness among customers related to their direct relation to digestive health benefits, the rise in demand for nutritious food.
Rising awareness regarding preventive healthcare is expected to drive the Probiotics market size as they help prevent the occurrence of diseases by strengthening the immune system.
Increasing adoption of probiotics as a replacement for pharmacological solutions to surge demand. The growing popularity of probiotic strains as a natural, cost-effective, and safe alternative to pharmacological therapies, as well as the expanding evidence on the health advantages associated with their use, are expected to positively impact probiotics market growth.
Furthermore, probiotics are becoming increasingly popular as a result of their numerous health benefits, such as improved gut health and immunological response, which will, in turn, boost the probiotics market growth during the forecast period.
Probiotics integration with low-cost, healthy products like yogurt, fruit juices, and cultured dairy drinks has contributed to probiotics market growth. Manufacturers are coming up with new probiotic products all the time, giving consumers a wide range of options that increases their customer base.
Based on application, Food & Beverage is expected to hold the largest probiotics market share of 82% in 2019. This was followed by Dietary supplements which account for about 10% of global sales.
Based on region, Asia Pacific is expected to be one of the most lucrative regions due to the awareness about the benefits of probiotics. Asia-pacific accounted for about 51% of the probiotics market share in 2019. It was followed by Europe with a market share of 23% in 2019.
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- The functional food market size was valued at USD 177,770.0 Million in 2019, and is estimated to reach USD 267,924.4 Million by 2027, registering a CAGR of 6.7% from 2021 to 2027.Over the last decade, as new product kinds have entered the food sector, there has been an increase in demand for functional foods. Furthermore, the market is predicted to increase due to the usage of these products by a variety of end-users, including sport nutrition, clinical nutrition, and weight management.
- The global clinical nutrition market size was valued at USD 32,495.97 Million in 2020, and is projected to reach USD 51,128.26 Million by 2028, registering a CAGR of 6.1% from 2021 to 2028.The rise in prevalence of metabolic disorders, high healthcare spending, and the expansion of the middle class in emerging nations are all driving the worldwide clinical nutrition industry forward. Furthermore, the market is predicted to rise due to the rising number of senior population and the development of therapeutic nutrition products tailored to the needs of the aged.
- The global Animal Probiotics market size is projected to reach USD 3305.1 Million by 2026, from USD 2007.4 Million in 2019, at a CAGR of 7.4% during the forecast period 2021-2026. In the global animal-used probiotic ingredient market, North America is the largest consumer with a market share of 40%, followed by Europe with a market share of about 28%.
- The Dietary Supplements Market size is expected to grow from USD 81.91822 Billion in 2019 to USD 119.16011 Billion by 2025, at a CAGR of 6.44%.
- The Vitamins market size is projected to reach USD 6062.8 Million by 2026, from USD 4753.3 Million in 2020, at a CAGR of 4.1% during 2021-2026.
- The global Nutraceutical Ingredients market size is projected to reach USD 167.3 Million by 2026, from USD 127 Million in 2019, at a CAGR of 4.0% during the forecast period 2021-2026.
- The global Carotenoids market size is projected to reach USD 1209.2 Million by 2027, from USD 1145.9 Million in 2020, at a CAGR of 0.9% during 2021-2027.
- Enteral Nutrition Market Size, Share, Trends, Growth, Industry Analysis, Forecast 2021 to 2026. The Report contains segmentation by Type ( Standard Protein diet, High Protein Supplement, Protein for Diabetes Care Patient, Others), By Application (Hospital Sale, Retail, Online)
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