In the Global Probiotics Market, the segment of functional food and beverage accounted for a market share of 75.4% in the year 2017. The segment is expected to remain in the leading position throughout the forecast period due to an increasing awareness about the health benefits of probiotic products.
According to a report by Fortune Business Insights, titled, “Probiotics Market Size, Share and Global Trend by Microbial Genus (Lactobacillus, Bifiodobacterium, Yeast), Application (Functional Food and Beverage, Dietary Supplement Animal Feed), Distribution Channel (Supermarkets/Hypermarkets, Pharmacies/Health Stores, Convenience Stores, Online Retail) and Geography Forecast till 2025,” the global probiotics market was valued at US$ 42.55 Bn in 2017. Fortune Business Insights predicts that the market will reach US$ 74.69 Bn by the end of 2025 and it is likely to exhibit a CAGR of 7.3%.
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Key players leading the global Probiotics Market include
Various key players in the market are investing large amounts of money in research and development activities. The dietary patterns of people have also changed and this has resulted in an increasing demand for specialty food items that aid in improving a person’s overall immune system. Moreover, prominent companies have started providing numerous supplements that include good nutritional values.
“Ever Grossing Demand for Probiotic Drinks to Propel the Market in Asia Pacific “
The global probiotics market is geographically divided into Latin America, the Middle East and Africa, North America, Europe, and Asia Pacific. Amongst these, North America possesses the most advanced probiotics market. There are several formats and varieties of probiotic products that are available in the retail space in North America.
Asia Pacific, on the other hand, is evolving persistently when it comes to the probiotics market in that region. This is because Japan and China have started occupying more than half of the sales in Asia Pacific. Yakult, a Japanese producer of fermented milk that is infused with approximately 6.5 billion probiotic LcS, for instance, has a widespread presence in the countries like India, Thailand, Indonesia, Singapore and more. This has further resulted in the rise in demand for probiotic drinks in India as well as in the other countries of Southeast and Central Asia.
Additionally, the governments of numerous countries in the Asia Pacific are creating awareness programs regarding the productivity and health of farm animals. That is why, farmers and livestock owners have started shifting towards probiotic-based animal feed rather than using AGPs. All these factors are expected to propel the market in Asia Pacific during the period of 2018 to 2025. The probiotics markets in New Zealand and Australia are also the fastest growing ones.
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“Chr. Hansen, Evolve BioSystems, Inc., and Other Key Players Focus on Strategic Investments and Expansions to Strengthen their Positions “
In August 2017, Chr. Hansen, a global bioscience company headquartered in Denmark, announced the expansion of its microbial strain library in order to include brand new, next-generation strains. These new strains will be made available for external consumers and partners who are looking for advanced probiotics.
These will be used for the company’s internal innovations. Evolve BioSystems, Inc., a biotechnology company based in California, announced that the company has completed a $40 million Series C round of funding in June 2018. The funding was co-led by Horizons Ventures and the Bill & Melinda Gates Foundation. Recently, in March 2019, Lallemand Inc., a researcher and provider of markets yeasts, announced that it is expanding capacity of the yeast production plant in Poland. This expansion will double up the production of microencapsulated yeast. The company has also invested a huge amount in yeast drying capacities.
Major Segments Present in the Probiotics Market
by Microbial Genus
- Functional Food
- Dietary Supplement
- Animal Feed
by Distribution Channel
- Hypermarkets Pharmacies
- Health Stores
- Convenience Stores
- North America
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KEY QUESTIONS ANSWERED:
- What is the market size and growth rate of the global and regional market by various segments?
- What is the market size and growth rate of the market for selective countries?
- Which region or sub-segment is expected to drive the market in the forecast period?
- What Factors are estimated to drive and restrain the market growth?
- What are the key technological and market trends shaping the market?
- What are the key opportunities in the market?
- What are the key companies operating in the market?
- Which company accounted for the highest market share?
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