Probiotics Market In-Depth Analysis and Trends With Key Players: Yakult Honsha Co., Ltd., Danone, Nestle S.A., Protexin
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Probiotics Market Report, published by Allied Market Research, forecasts that the global market is expected to garner $57.4 billion by 2022, registering a CAGR of 7.7% during the period 2016-2022. Asia-Pacific was the dominant market and is expected to be the leading contributor in global revenue, due to its high adoption of probiotic based food and beverages. Bacteria derived probiotics would dominate the market throughout the forecast period as yeast strains are still under research and testing phase and approvals from the Food and Drug Administration would take time to implement.
The key players operating in the market include
• Yakult Honsha Co. Ltd.
• Nestle S.A.
• Biogaia AB
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Probiotics contain friendly bacteria or yeast, which when consumed improve the balance of bacteria in the digestive system. Probiotic products such as yogurt, kefir, fermented milk, and other dairy products gain increased demand nowadays due to their effectiveness to improve immune system, synthesis of vitamins, and proteins. Such products have proven beneficial in curing mental illness, diarrhea, skin disorders, and urogenital disorders among others.
Among basic ingredients, bacteria would continue to dominate the yeast due to its availability in liquid, powdered, and gel forms. Moreover, variety of bacterial strains such as Lactobacillus, Bifidobacterium, Streptococcus, and others are useful as they can pass through the passage to the gut and form part of normal healthy intestinal flora. The segment constituted nearly 84% of revenue in 2014 and is anticipated to grow at the fastest CAGR during the forecast period.
Probiotics market witnessed steady growth in the recent past on account of rise in awareness and changes in eating habits of populace across the globe. Factors such as increased health concerns, demand for functional foods and huge investment on product innovations and process technology by market players are expected to sustain market growth during the next 56 years. However, lack of awareness about their benefits and adherence to quality standards and regulations would restrain the market growth to some extent.
Probiotic products can be consumed to carry out regular, preventive healthcare, and therapeutic functions in human body. Among these segments, preventive healthcare is expected to grow at the highest growth rate owing to factors such as rise in demand for probiotic based medicines for chronic diseases in high populace countries where infectious diseases are easily transmitted.
Food & beverages application of probiotics would continue to dominate the market with nearly 4/5th market share in 2014. However, dietary supplements segment would grow at the fastest CAGR due to its increased use to cure several diseases and to maintain health. Animal feed segment constitutes approximately 1/10th share in global market due to rise in demand for animal produce and increase in concerns about animal health among the livestock owners in Asia-Pacific and African countries.
Key Findings Of Probiotics Market:
• Probiotics market is anticipated to witness steady growth during the forecast period because of growth in demand for functional foods
• Bacteria derived probiotics would continue to dominate the market due to their highest application in food and beverages
• Asia-Pacific was estimated to be the highest revenue-generating region in the probiotics market in 2014, due to high demand for natural probiotic based food and dairy products
• Human probiotics was the largest contributing end user for probiotics market in 2014 and is forecasted to dominate the market during the analysis period
• Market players focus to improve processing and storage technologies to take competitive edge on the rivals
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