CHICAGO, July 12, 2021 /PRNewswire/ -- According to the new market research report "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 - Global Forecast to 2026", published by MarketsandMarkets™, 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. The global demand for probiotics is increasing significantly due to the growing awareness among customers about their digestive health management, the rise in demand for quality food, and the increase in demand for quality animal-based products. Probiotics are found in supplement form, or as components in food and beverages.
The food & beverage segment is projected to be the largest revenue contributor in the probiotics market during the forecast period.
The food & beverage segment is accounted to hold the largest share of the probiotics market in 2020. The global probiotics market is currently driven by the rising popularity of probiotic functional foods & beverages among consumers. There are various factors such as age, stress, and poor diet that are responsible for digestive ailments, bloating, and reduced resistance to infections; consumption of probiotic-enhanced products helps to alleviate these conditions. These factors tend to create an inclination towards functional foods which can support your gut health.
The animal probiotics segment is projected to account for the fastest growth, by end user, during the forecast period.
Probiotics are considered an important ingredient in animal nutrition, with benefits similar to those in human nutrition. The ban on synthetic antimicrobial growth promoters (AGPs) in Europe in 2006 has created a huge market for the probiotics in Europe. These products contain live microorganisms (probiotics) that confer positive health effects on the host. The motive behind the ban was to curb the practice of using antibiotics, antimicrobials, and other drugs to promote the growth of livestock and increase the production of meat, milk, and other products.
The Asia Pacific is projected to account for the largest market size during the forecast period.
The Asia Pacific is a dominant region in the global probiotics market. Some factors that influence the market share include the high demand for functional foods and dairy products, the presence of key players in the regions, and awareness about the benefits of using probiotics. Top probiotic manufacturers such as Danone, Yakult Honsha, Nestlé, and Chr. Hansen together account for a share of more than one-third of the market. These companies have a strong presence in Europe and the Asia Pacific, and also have manufacturing facilities across these regions and a strong distribution network.
This report includes a study of marketing and development strategies along with the product portfolios of leading companies in the probiotics market. It includes profiles of leading companies such as Danone (France), Yakult Honsha (Japan), Nestlé (Switzerland), and Chr. Hansen (Denmark).
Nutraceutical Ingredients Market by Type (Probiotics, Proteins, Amino Acids, Phytochemicals & Plant Extracts, Fibers & Specialty Carbohydrates), Application (Food, Beverages, Animal Nutrition, Dietary Supplements), Form, and Region - Global Forecast to 2025
Prebiotic Ingredients Market by Type (Oligosaccharides, Inulin, and Polydextrose), Application (Food & Beverages, Dietary Supplements, and Animal Feed), Source (Roots, Grains, and Vegetables), and Region - Global Forecast to 2023
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