Probiotics Market Size, Share, Growth 2021-2027
A comprehensive overview of the Probiotics market is recently added by UnivDatos Market Insights to its humongous database. The Probiotics report has been aggregated by collecting informative data of various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the Probiotics market. Probiotics report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates Probiotics at the global and regional levels. Global Probiotics Market was valued at US$ 54.7 Billion in 2020 and is anticipated to reach US$ 91.2 billion by 2027 displaying an elevated CAGR of ~ 7% over the forecast period (2021-2027).
Market Overview
The increasing popularity of probiotics is attributed to the abundance of likely advantageous effects in diverse aspects of health and personal care. The benefits of probiotics such as prevention or treatment of gastrointestinal diseases, enhancement of mineral bioavailability, antioxidant potential, and immunomodulation are some of the prominent reasons driving the growth of the market. Moreover, some more benefits that are reported in several studies are oral health, regulation of lipid metabolism, treatment of cardiovascular diseases, anti-allergic and anti-infectious effects, anticancer activity, application in cosmetic and personal care
Poor diets are now the number 1 risk factor in the global burden of disease (GBD), accounting for one in five deaths globally. Too much sugar, fat, and red meat increase the risks of heart disease, diabetes, cancer; all killers in later life (mostly in higher-income countries). Too little nutrient-dense fruits, vegetables, dairy, eggs, meat, and fish are associated with wasting, stunting, and micronutrient deficiencies in early childhood; all killers in early life (mostly in lower-income countries).
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COVID-19 Impact
The growing consumption of dietary supplements is leading to the growing demand for immune products including probiotics. As per Lallemand Health Solutions, the demand for probiotics has been increased by 15-20% during Feb-March 2019. However, due to COVID-19, the demand witnessed a downfall of around 5-10% as compared to 2019. But, in the forthcoming years, the market would proliferate.
The Probiotics Market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
By Application, the market is primarily bifurcated into
• Functional Food and Beverages
• Dietary Supplements
• Feed
The functional food and beverages segment dominated the application type segment and gathered a major market share of the Probiotics Market in 2020. The market of this segment is expected to witness robust growth due to the growing awareness and the launch of the new form of probiotics across regions.
By Form, the market is primarily bifurcated into
• Dry
• Tablets/ Caplets
• Capsules
• Powder/ Granules
• Chewable
• Liquid
The dry segment grabbed the major market share and dominated the market in 2020The growing prevalence of diseases such as bowel problems, eczema, among adults across the globe is one of the prominent factors driving the growth of this segment. The benefits of the dry form of probiotic such as longer shelf life, easy to carry, attractive packaging, etc. are gaining end-users traction
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By Packaging Type, the market is primarily bifurcated into
• Blister
• Bottles
• Container
• Sachets
• Stick packs
• Dropper
• Others
The container segment grabbed a considerable market share in 2020 and grabbed X% market share. Moreover, the market of this segment is expected to witness robust growth in the forecast period to reach a market valuation of USD X MN by 2027.
Probiotics Market Geographical Segmentation Includes:
· North America
· Europe
· Asia-Pacific
· Rest of the World
Based on the estimation, the North America region grabbed a major market share in 2020. The demand for probiotics in North America is on the rise on account of the growing lactose intolerance among people. According to the National Digestive Diseases Information Clearinghouse, some 30 million to 50 million Americans are lactose intolerant, including up to 75% of African Americans and American Indians and 90% of Asian Americans.
The major players targeting the market includes
• DuPont
• Danone
• Chr. Hansen
• Yakult Honsha
• Nestle
• BioGaia AB
• Probi AB
• Ganeden, Inc.
• Protexin
• Lifeway Foods, Inc.
Competitive Landscape
The degree of competition among prominent regional companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in Probiotics Market. The leading players have been analyzed by using research methodologies for getting insight views on global competition.
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Key questions resolved through this analytical market research report include:
· What are the latest trends, new patterns, and technological advancements in the Probiotics Market?
· Which factors are influencing the Probiotics Market over the forecast period?
· What are the global challenges, threats, and risks in Probiotics Market?
· Which factors are propelling and restraining the Probiotics Market?
· What are the demanding global regions of the Probiotics Market?
· What will be the global market size in the upcoming years?
· What are the crucial market acquisition strategies and policies applied by global companies?
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