Dublin, Jan. 21, 2019 (GLOBE NEWSWIRE) -- The "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, and Region-Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The probiotics market is estimated to be valued at 45.64 billion in 2017, and projected to grow at a CAGR of 7.0%, to reach USD 64.02 billion by 2022.
The market is primarily driven by factors such as growing awareness about the benefits of probiotics among customers, rising demand for nutrient-rich feed for animals, and increasing demand for probiotic dietary supplements. Asia Pacific is projected to be the fastest-growing region due to the incorporation of probiotics in daily diets of consumers in China and Japan. One of the major restraints in the growth of the probiotic is the time required for regulatory approval. Bacterial segment, by source, led the market with the largest share in 2016 On the basis of source, the probiotics market was led by the bacterial segment. Lactobacilli, one of the types of bacteria, accounted for the largest market share in 2016. Health benefits such as increased lactase production, prevention of diarrhea, prevention of irritable bowel syndrome, and enhanced immunity of Lactobacilli make the strain the most preferred option by probiotic producers. Liquid segment, by form, led the probiotics market with the largest share in 2016 On the basis of form, the liquid segment accounted for the largest share of the probiotics market in 2016. Liquid probiotics are preferred by consumers having difficulty in swallowing pills, especially infants. New products are available in the market such as probiotic-infused juices and yogurt-based drinks, which provide consumers with new options of probiotic consumption. Functional food & beverages segment, by application, accounted for the largest share of the probiotics market in 2016 Based on application, the functional food & beverages segment accounted for the largest share during the forecast period. Growing health concerns among consumers have led the manufacturers to come up with a variety of probiotic fortified foods, which has fueled the demand for probiotics in the functional food & beverage segment. Human probiotics segment, by end user, led the market with the largest share in 2016 On the basis of end user, the human probiotics segment accounted for the largest share of the probiotics market in 2016. The routine consumption of probiotics in regular diets has shown functional improvements in consumer health, which has fueled the demand for human probiotics over animal probiotics. Asia Pacific: High growth is expected in the probiotics market Asia Pacific is projected to be the fastest-growing region, in terms of value, between 2017 and 2022. Some of the factors that drive the usage of probiotics in this region include high demand for functional foods and dairy products, the presence of major players in these regions, and awareness about the benefits of using probiotics.
Market Dynamics
Drivers
- Health Benefits Associated With Probiotic-Fortified Foods
- Increasing Popularity of Probiotic Dietary Supplements
- Participation of International Bodies in the R&D of Probiotic Products
- Rising Health Consciousness Among Consumers
- Technological Advancements in Probiotic Products
Restraints
- International Quality Standards and Regulations for Probiotic Products
- High R&D Costs for Developing New Probiotic Strains
Opportunities
- Probiotics Can Replace Pharmaceutical Agents
- Ban on the Use of Agps(Antibiotic Growth Promoters) in Feed in the EU
- Increase in Demand for Probiotics in Developed Economies
- Rising Consumer Awareness About Value-Added Products
Challenges
- Complexities in Integrating Probiotics in Functional Foods
Leading players profiled in this report:
- Chr. Hansen
- Danone
- Yakult Honsha
- Nestle
- DuPont
- Morinaga
- Lallemand
- Probi
- Bifodan
- BioGaia
- Probiotics International
- Nebraska Cultures
For more information about this report visit https://www.researchandmarkets.com/research/l...arket?w=12
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