Pre & post COVID-19 market estimates :

Meticulous Research® – leading global market research company published a research report titled “Probiotics Market by Strain (Bacteria {Bacillus}), by Product Type (Dairy Food {Yogurt, Baked Food}), by Form (Liquid), by Sales Channel (Super Markets, Pharmacies), by End-User (Human {Adults, Senior}, Animal), and Geography– Global Forecast to 2027.”

According to this latest publication from Meticulous Research®, the probiotics market is expected to grow at a CAGR of 5.6% from 2020 to 2027 to reach $75.9 billion by 2027.

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The growth of this market is mainly attributed to the growing consumer awareness regarding the health benefits of probiotics, increasing use of probiotics as an alternative to antibiotics, growing research progress on probiotics for newer applications, and growing proportion of the aged population. Moreover, the growing use of probiotics for children and e-commerce growth is expected to create lucrative opportunities for players operating in this market. However, complex regulations related to probiotics are expected to hinder the growth of this market to some extent.

Impact of COVID-19 on the Probiotics Market

The global impacts of COVID-19 are already starting to be felt and will significantly affect the probiotics market in 2020. The health officials have not determined the exact cause of COVID-19, which has sickened more than 109,206,497 people and killed 2,407,469, as of 18 February 2021 (Source: European Centre for Disease Prevention and Control). Since the COVID-19 virus outbreak in December 2019, the disease has spread to almost 100 countries worldwide, with the World Health Organization declaring it a public health emergency.

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The probiotics market study presents historical market data in terms of value (2018 and 2019), estimated current data (2020), and forecasts for 2027. The market is segmented based on strain, product type, form, sales channel, end user, and geography. The study also evaluates industry competitors and analyses the market at a country level.

Key questions answered in the report-

Which are the high growth market segments in terms of the strain, product type, form, sales channel, end-user, and countries/regions?
What is the historical market for probiotics across the globe?
What are the market forecasts and estimates for the period of 2020-2027?
What are the major drivers, restraints, and opportunities in the probiotics market?
Who are the major players in the global market, and what share of the market do they hold?
Who are the major players in various countries, and what share of the market do they hold?
How is the competitive landscape?
What recent developments have taken place in the probiotics market?
What are the different strategies adopted by the major players in this market?
What are the key geographic trends, and which are the high-growth countries?
Who are the local emerging players in the probiotics market, and how do they compete with the other market players?

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Based on strain, the probiotics market is mainly segmented into bacteria and yeast. The bacteria strain products segment is expected to command the dominant share of the overall probiotics market in 2020. The dominant position of this segment is mainly attributed to the growing use of bacteria strain in a wide variety of commercial dairy products, including sour and fresh milk, yogurt, and cheese. Besides, the growing gastrointestinal and extraintestinal disorders (including prevention and alleviation symptoms of traveler’s diarrhea and antibiotic-associated diarrhea, inflammatory bowel disease, lactose intolerance, and irritable bowel syndrome); increasing popularity among health-conscious consumers; and rising preference for nutrient-rich food products are some of the factors expected to boost the demand for bacterial strain probiotics in the market.

Based on the product type, the probiotics market is mainly segmented into functional food & beverages, medical & dietary supplements, and animal feed. The probiotic medical & dietary supplements segment is expected to grow at the highest CAGR during the forecast period. The rapid urbanization, increasing disease conditions, and growing awareness regarding the health benefits of good nutrients among consumers are some of the major drivers for this segment. Further, energy, weight management, immunity, diabetes control, cardiovascular diseases, gastrointestinal health, and general health are some of the major applications of probiotic dietary supplements that are driving the market growth.

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Based on form, the probiotics market is mainly divided into liquid and dry. In 2020, the liquid form segment is expected to command the largest share of the probiotics market. The large share of this market is mainly attributed to the growing use of liquid probiotics due to variations in liquid supplements and probiotic-enriched drinks. Also, liquid probiotics are convenient and easy to consume for children and the elderly who prefer swallowing pills. However, most probiotics need to be refrigerated, especially juices and probiotics drinks, which is expected to restrict the demand for liquid probiotics to a certain extent.

Based on sales channel, the probiotics market is segmented into offline and online sales. The online sales segment is expected to grow at the highest CAGR during the forecast period. The fast growth of this segment is primarily attributed to the growing consumer spending on probiotic products through online distribution channels, growing smartphone and internet penetration, and e-commerce expansion by major players in the developing countries. For instance, the South Korean probiotic brand, Youguth, is expanding its e-commerce reach in Singapore. Further, Amazon, online pharmacies, and local online stores are mainly expected to drive the growth of this segment.

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Based on end user, the probiotics market is segmented into humans and animals. In 2020, the humans segment is expected to command the largest share of the probiotics market. Factors such as the use of probiotics to treat the digestive tract's problems, growing proportions of older people, and high nutritional demand are driving the growth of this segment in the market.

Geographically, Asia-Pacific is expected to grow at the highest CAGR during the forecast period. The increased consumer awareness regarding digestive health, immunity, and overall wellness; growing diabetic and overweight people in Asia-Pacific; and rising innovations in probiotic formulations. Besides, the increasing trend across the Asia-Pacific region for non-dairy probiotic food (e.g. cereal-based, fruit, and vegetable juices) and the presence of several companies in the digestive health products category offers lucrative growth opportunities for the key players operating in this market.

The key players operating in the probiotics market are Probi AB (Sweden), BioGaia AB (Sweden), Nestlé S.A. (Switzerland), Chr. Hasen Holding A/S (Denmark), Danone S.A. (France), Yakult Honsha Co., Ltd. (Japan), Lallemand Inc. (Canada), Lifeway Foods Inc. (U.S.), Dupont de Nemours, Inc. (U.S.), Kerry Group plc (Ireland), Archer Daniels Midland Co. (U.S.), Deerland Probiotics & Enzymes Inc. (U.S.), KeVita, Inc. (a part of PepsiCo Inc.) (U.S.), Evolve BioSystems (U.S.), Cell Biotech Co., Ltd. (Korea), and Probiotical S.p.A. (Italy).

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The name of our company defines our services, strengths, and values. Since the inception, we have endeavoured to research, analyze and present the critical market data with great attention to details. Meticulous Research® was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, with the help of its unique research methodologies, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa regions.

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