The surging demand for packaged and functional food will stimulate the growth of probiotics market worldwide. Augmentation in food technology fueled by preference toward dietary supplements has left a positive impact on the probiotics industry.
According to a report by Global Market Insights Inc., “Probiotics Market worth over USD 35 billion in 2015, is foreseen to record a CAGR 7% over the period 2016-2023”. Growing health concerns is also expected to play a crucial role in complementing the probiotics industry size on account of its extensive contribution in curing intestinal inflammation, diarrhea, blood pressure regulation, and other gut-related disorders.
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The global probiotics industry finds major application in animal feed sector and functional foods and beverages industry. Probiotics market penetration in the animal feed sector is estimated to exceed USD 4.2 billion at an annual growth rate of 8% over 2016-2023. The evolution can be credited to the growing consumer consciousness associated with animal health and claim for high-quality meat.
Functional food & beverages sector contributed massively toward global probiotics market in 2015, and is expected to continue its dominance over the forecast period due to rise in consumption of dry food, dairy items, and cereals.
Germany Probiotics Market size for food applications, 2012-2023 (USD Billion)
Probiotics market revenue in the dietary supplements sector is projected to register a significant gain of 8% over the coming six years, due to the wide use probiotics in specialty nutrients, food supplement, and infant formula.
Poultry probiotics market will also directly and positively influencing the global probiotics industry share over the coming time frame.
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Geographically, Asia Pacific probiotics industry dominated by Japan, India, and China will continue to be the major revenue pocket owing to the rise in geriatric population, health conscious consumers, and increased infant formula consumption. It is expected to exhibit a steady growth rate of 7.5% over 2016-2023.
North America probiotics industry, led by U.S. is projected to contribute substantially toward the regional share at an annual growth rate of 7% over 2016-2023 having accounted for 80% of the total volume in 2015.
LATAM probiotics market is likely to observe a high growth of 9% over the period of 2016-2023, driven by the rising adoption of specialty nutrients across the region. MEA probiotics market, led by UAE and South Arabia is also expected to show modest growth over the estimated timeframe.
Notable probiotics industry players include Nestle, Chr Hansen, Danisco A/S, Yakult, Arla Foods Lallemand Incorporation, Danone, BioGaia AB, Nebraska Cultures and Probi AB.
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Global Market Insights has segmented the probiotics industry on the basis of application, end-use and region:
Probiotics Market Application Analysis (Revenue, USD Million, 2012 – 2023)
- Probiotic functional foods & beverages
- Dairy products
- Non dairy products
- Cereals
- Baked food
- Fermented meat products
- Dry food probiotics
- Probiotic dietary supplements
- Food supplements
- Nutritional supplements
- Specialty nutrients
- Infant formula
- Animal feed probiotics
Probiotics Market End-Use Analysis (Revenue, USD Million, 2012 – 2023)
- Human probiotics
- Animal probiotics
Probiotics Market Regional Analysis (Revenue, USD Million, 2012 – 2023)
- North America
- U.S.
- Europe
- Germany
- UK
- Asia Pacific
- China
- India
- Japan
- Latin America
- Brazil
- Middle East & Africa (MEA)
Browse Related Reports:
- Prebiotics Market Size By Ingredient (Inulin, GOS, FOS, MOS), By Application (Animal Feed, Food & Beverages [Dairy, Cereals, Baked Goods, Fermented Meat, Dry Foods], Dietary Supplements [Food, Nutrition, Infant Formulations]), Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2023
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