Probiotics Market Report, By Application (Functional food & Beverages, Dietary Supplements and Animal Feed), Source (Bacteria and Yeast), End Users (Animals and Humans) and Geography – Global Market Share, Trend Analysis & Forecast Up To 2024

Probiotics are the latest craze in the food industry, turning up in everything from pizza to chocolate. Probiotics are now expanding at 20% to 30% a year. They are actually live microbes. They are beneficial bacteria that promote human health when consumed in enough quantities. Probiotics produce a number of vitamins including B6, B12, and K2, and aid the absorption of minerals such as iron, calcium, and magnesium. Hence, they can be called as ‘New Vitamins’. They also fend off bad bacteria which can cause diarrhoea, kidney failure etc.

Probiotics Market Outlook:

The key factors driving this market are extensive application scope in functional food and dietary supplements industry. Strong scientific evidence for disease treatment and auxiliary health benefits provided including curing intestinal inflammation, urogenital infection and bad gut bacteria treatment should facilitate product demand.

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Growth in livestock production due to the growing demand for meat and consumer awareness of livestock health & product quality has had the positive impact on the probiotic market. Animal feed-based product demand can be traced to better hatchability paired with improved digestive and immune system. Poultry meat production is the fastest growing segment which was over 100 million tons in 2016 and expected to grow substantially during forecast timeframe. Increasing consumer preference towards natural products united with growing interest for preventive healthcare increases product demand. Binding regulations set forth on using antibiotics as a growth promoter due to its diminishing curability potential on excessive use favours probiotics market size. Developing technology in the medicinal industry can help develop medicine useful in diagnosing mental illness and neurological disorder. However, urge for efficient packaging, standardized labeling parameters and low shelf life of product threats for industry growth. Any variation in raw material availability and periodic production can affect probiotics market price trend.

Probiotics Market Segmental Overview:

The global probiotics market is segmented by application, source, end user and geography.

Probiotics Market by Application:

By application, this market is segmented into functional food & beverages, dietary supplements and animal feed. Functional food is further segmented into dairy products and baked goods. Baked goods include non-dairy beverages, fermented meat and cereal.

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Probiotics Market by Source & End Users:
By source, the global probiotics market is segmented into Bacteria and Yeast. Bacteria include Lactobacilli and Bifidobacterium. Lactobacilli segment consists of Lactobacillus Acidophilus, Lactobacillus Rhamnosus, Lactobacillus Casei, and Lactobacillus Rheuteri. Whereas, animal and human are the only two end users of the probiotic market identified and explained in this report.

Probiotics Market by Geography:

Based on geography, the global probiotics market can be segmented into North America, Latin America, Europe, APAC and Middle East & Africa. Asia-Pacific leads the probiotics market, followed by Europe. LAMEA is also anticipated to grow at a constant rate in the future. The growth of this market is anticipated to be driven by the increasing pharmaceutical & supplements sector, drying and storage methods coupled with increasing per capita income. Increase in veteran population is observed particularly in the U.S. and Europe due to low immunity and associated digestive disorders & illness with aging which could be one of the drivers for driving the market. High intake of supplement prevents the growth of harmful bacteria inside the digestive plot and leads to augmented nutrition absorption.

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Probiotics Market Key Players:
Some of the key players of this market are Yakult Honsha, BioGaia AB, Danone, DuPont, Probi AB, Ganeden, Protexin, Lifeway Foods, Chr Hansen Holding A/S, Nestle S.A., Amul, Attune Foods, LLC, Bright Food Co. Ltd. Etc.

Key Questions Answered in Report:
•What is the future scope of global Probiotics market up to 2024?
•What are the challenges to market growth?
•Who are the key vendors in the global Probiotics market?
•What will the market size and the growth rate be in 2024?
•What are the key market trends impacting the growth of the global Probiotics Market?

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This release was published on openPR.