Pune, India, March 08, 2023 (GLOBE NEWSWIRE) -- The global probiotics market size is expected to reach USD 94.48 billion by 2027 while exhibiting a CAGR of 7.9% between 2020 and 2027. This information is published by Fortune Business Insights in its report, titled "Probiotics Market, 2020-2027". The report further mentions that the market stood at USD 48.88 billion in 2019. The growing consumption of nutritional food among the health-conscious section of the market is gaining popularity in recent years. For instance, the Nutrition Society of Malaysia has also introduced the Probiotics Education Program to educate consumers on the health benefits of these products.
The probiotics market refers to the industry that produces and sells products containing beneficial microorganisms, such as bacteria and yeast, that can be consumed to improve the health of the human digestive system. Probiotics are commonly found in fermented foods such as yogurt, kefir, and sauerkraut, as well as in dietary supplements, powders, and capsules.
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List of Key Players Profiled in the Probiotics Market:
- Danone S.A. (Paris, France)
- Lallemand Inc. (Canada)
- Yakult Honsha (Japan)
- Nestle S.A. (Vevey, Switzerland)
- DuPont (Danisco A'S) (Delaware, United States)
- Chr. Hansen (Horsholm, Denmark)
- Kerry Inc. (Tralee, Ireland)
- Post Holdings, Inc. (Missouri)
- Pepsico, Inc. (New York, United States)
- Evolve Biosystems, Inc. (Davis, California)
Report Scope & Segmentation:
|2027 Value Projection||USD 94.48 Billion|
|Probiotics Market Size in 2019||USD 48.88 Billion|
|No. of Pages||144|
|Segments Covered||My Microbial Genus, By Application, By Distribution Channel, By Region|
|Probiotics Market Growth Drivers||Rising Awareness of Product through Social Mediums to Surge Demand|
On the basis of microbial genus, the market is segmented into lactobacillus, bifidobacterium, and yeast. Based on drug class, the insulin segment held a market share of about 43.7% in 2018.
Based on application, the market is trifurcated into functional food and beverage, dietary supplement, and animal feed. On the basis of distribution channel, the market is segmented into supermarkets/hypermarkets, pharmacies/health stores, convenience stores, online retail, and others. Based on geography, the market is divided into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
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What Does the Report Contain?
The report offers an insight into the profitability, entire structure, and scale. It also studies the drivers and restraints and considers all the potential threats to the market. The critical analysis of marketplace sections, prediction analysis, and expert insights are strategically included in the report. A wide spectrum of data, including regional analysis, market segmentation, industry developments, and key players, are included in the research conducted by market experts.
Rising Awareness of Product through Social Mediums to Surge Demand
The numerous health benefits of the product are augmenting the probiotics market growth. The increasing awareness and advertisement by prominent personalities are creating a demand in the market. Various athletes and yoga instructors are emphasizing the health benefits of nutraceuticals through social media as paid partnerships. Also, a considerable chunk of health-conscious vegan consumers prefers to get their nutrients from nutraceutical sources. The industry is also experiencing heavy investment in research and development for innovation. For example, in February 2020, Amorepacific Group inaugurated its novel green tea probiotics Research Centre for studying lactobacillus found in Jeju organic green tea.
Rising Awareness of Health Benefits to Aid Growth in Asia Pacific
Asia-pacific is expected to hold the largest probiotics market share due to high consumption in China and Japan. The rising awareness of the health benefits of the product is garnering significant demand from the region. For instance, Yakult Honsha declared the company sales of 9,540 bottles of Yakult every day in Japan.
North America is anticipated to showcase considerable growth in the forthcoming years. This is due to the well-established food industry in the region. Moreover, a rising preference for a healthy diet owing to the prevalence of lifestyle diseases in the region is anticipated to incur product demand.
Collaboration by Prominent Companies to Brighten Their Market Prospects
The competitive landscape of the market for probiotics enlightens us with details on prominent players of this industry. Technological advancement by key players is being researched to gain traction in the market. Several market giants are also collaborating on production facilities to expand their business horizons. Some companies are also using awareness campaigns to strategically introduce their products in regions with minimal awareness to expand their horizons. Several more strategic collaborations, acquisitions, partnerships, product launches, technological advancement, and others are spread across the market horizon of this product.
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Detailed Table of Content:
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Emerging Trends
- Key Insights
- Overview of the Parent Market
- Industry SWOT Analysis
- Supply Chain Analysis
- Recent Industry Developments - Policies, Partnerships, New Product Launches, and Mergers & Acquisitions
- Qualitative Analysis (in relation to COVID-19)
- 4.5.1 Impact of COVID-19
- 4.5.2 Supply Chain Challenges
- 4.5.3 Potential Opportunities due to COVID-19
- Global Probiotics Market Analysis, Insights and Forecast, 2016-2027
- Key Findings / Summary
- Market Size Estimates and Forecast
- By Microbial Genus (Value)
- By Application (Value)
- Functional Foods & Beverages
- Dietary Supplements
- Animal Feed
- By Distribution Channel (Value)
- Pharmacies/Health Stores
- Convenience Stores
- Online Retails
- By Region (Value)
- North America
- Asia Pacific
- South America
- Middle East & Africa
- By Microbial Genus (Value)
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