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Probiotics Market Technology Innovation & Forecast By 2024
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MaketStudyReport.com adds a new Probiotics Market Research Report for the period of 2018-2024 that shows the industry is rising at a growth during this period dominated by probiotics industry.
Probiotics market should exceed USD 65 billion by 2024; according to a new research report.
Increasing application usage in dietary supplements, food & beverages and animal feed should propel probiotics market demand. These ingredients stimulate natural enzymes and digestive juices ensuring enhanced digestion and proper functioning of immune system. Shift in consumer preferences towards healthy food diet and rising consumption of dietary supplement along with rise in geriatric population in the U.S., Germany, and UK is likely to promote industry growth.
Rising incidences of livestock diseases owing to growing awareness among farmers towards feed additive quality should stimulate product demand. Presence of major manufacturers and industry players investing in probiotics market might act as a contributing factor for product demand.
Global probiotics industry share is moderately fragmented including key industry players like Arla Foods, BioGaia AB, Chr. Hansen, Danone and DuPont Danisco. The companies focus majorly in expanding its production capacity along with widening product & application portfolio by adopting strategies like mergers & acquisition, partnerships and investing in R&D.
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Favorable regulatory regimes regarding use of probiotics in feed & food ingredients along with ban on use of antibiotic growth promoters (AGP) owing to long term side effect should drive demand industry growth. Consumer awareness regarding quality of meat & meat products, dairy & dairy products leads to increasing for probiotic ingredients impacting product demand in Asia Pacific and European regions.
Human probiotics market may witness gains at over 6.5% during the projected timeframe. This growth can be attributed by increasing application usage for these ingredients in dairy, food & beverages, non-dairy products and fermented meat. The product range includes oat-based products, chocolates, yogurts and dietary supplements in powder, tablet and capsule forms.
Lactobacilli based probiotics market may surpass USD 45 billion by 2024. This growth in revenue generation can be ascribed to its prominent application in fortified foods like fermented foods, yogurt, supplements, milk & milk products. These form of bacterial strain helps in breaking down food, absorb essential nutrients and fight off infectious bacteria which cause diarrhea. It is added to milk for its probiotic properties which is easily digestible than regular milk for lactose intolerant individuals, thereby driving product demand.
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Probiotics market from food & beverage application should witness significant gains at over 7% during projected period. It includes cereals, non-dairy & dairy products, baked food, dry food and fermented meat products. This rise in demand can be ascribed to the demand for functional food due to increasing per capita income and rising health concern.
Germany probiotics market should generate revenue surpassing USD 5 billion by 2024. The regional demand for probiotics can be attributed by increasing growth for ingredients in dietary supplement owing to rising consumer awareness towards health benefits offered by product. Germany is also a major producer for milk & milk products thus driving regional product demand.
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Chapter 1. Methodology & Scope
1.1.1. Initial data exploration
1.1.2. Statistical model and forecast
1.1.3. Industry insights and validation
1.1.4. Definitions & forecast parameters
1.2. Data sources
Chapter 2. Executive Summary
2.1. All-terrain vehicle industry 360 degree synopsis, 2013 - 2024
2.1.1. Business trends
2.1.2. Product trends
2.1.3. Application trends
2.1.4. Regional trends
World Dairy Ingredient Market Research Report 2022 (covering USA, Europe, China, Japan, India, South East Asia and etc)
Dairy Ingredient market research report provides the newest industry data and industry future trends, allowing you to identify the products and end users driving Revenue growth and profitability. The industry report lists the lead...
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