Probiotics Market to Reach $75.9 billion by 2027, Growing at a CAGR of 5.6% From 2020 With COVID-19 Impact - Exclusive Report by Meticulous Research®

According to a new market 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" 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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Nowadays, there is a growing awareness regarding functional food and dietary supplements and the potential role these products play in human health. With this, probiotics are becoming increasingly popular as a functional food because of their health benefits, such as improved intestinal health, ameliorated lactose intolerance, enhanced immune response, reduced serum cholesterol, cancer prevention, and reduced risk of various other diseases. Moreover, rising awareness activities are expected to drive consumer awareness about probiotic products. Also, many countries are taking initiatives to promote the health benefits of probiotics. For instance, to provide the consumers with a better understanding of the health benefits of probiotics, the Nutrition Society of Malaysia (NSM) initiated the Probiotics Education Programme (PEP).

The objectives of the Probiotic Education Programme (PEP) are to provide consumers with information on:
• Importance of having good gut health and keeping a balanced gut microbiota for overall health
• Dietary and lifestyle factors that promote gut microbiota
• What probiotics are and their potential health benefits
• Legal criteria and requirements for the sale of probiotics-containing products

The probiotics market study presents market data in terms of value (2018, 2019, 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.

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Impact of COVID-19 on the Probiotics Market

Scientific evidence exists to support probiotics' ability to boost human immunity, thereby preventing colonization by pathogens and reducing the incidence and severity of infections, including COVID-19. For example, Dupont reported a growth in its Nutrition & Biosciences segment in its 2020 first-quarter result, with its probiotics section seeing its strongest growth period to date. In April 2020, Probi reported that its probiotic sales had been bolstered, noting a clear increase in its immunity products' interest.

Key Findings in the Global Probiotics Market Study:
Based on strain, the probiotics market is mainly segmented into bacteria and yeast strain products. The bacteria strain products segment is expected to command the largest share of the overall probiotics market in 2020. The large share of this segment is mainly attributed to the growing use of bacteria strain probiotics in various commercial dairy products, including sour and fresh milk, yogurt, and cheese. Besides, growing gastrointestinal and extraintestinal disorders, increasing use of probiotics among health-conscious consumers, and rising preference for nutrient-rich food products are expected to boost the demand for bacterial strain probiotics in the market.

Based on product type, the probiotics market is mainly segmented into functional food & beverages, medical & dietary supplements, and animal feed. The medical & dietary supplements segment is expected to grow with the fastest CAGR during the forecast period.

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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 preference for liquid probiotics due to their variations, such as liquid supplements and probiotic-enriched drinks. Also, the wide acceptability of liquid probiotics by infants, the elderly, and people who have trouble swallowing tablets is one of the major factors contributing to the growth of this market.

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 growing consumer spending on probiotic products through online distribution channels, growing smartphone and internet penetration, and e-commerce expansion by major players in developing countries are some of the key drivers for the growth of this segment.

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 problems of the digestive tract in humans and high nutritional demand from the aging population are driving the growth of this segment in the market.

Geographically, Asia-Pacific region is expected to grow at the highest CAGR during the forecast period. The increasing consumer concerns about the relationship between digestive health & immunity, growing diabetic and overweight population, and rising number of probiotic formulations are some of the major factors driving the growth of this regional segment.

To gain more insights into the market with a detailed table of content and figures, click here: https://www.meticulousresearch.com/product/probiotics-market-5113

The key players operating in the global 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) among others.

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