Rising health concerns, increasing consumption of functional foods, and surge in investment on R&D have boosted the growth of the global probiotics market. The market across Asia-Pacific held the largest share and would continue its dominance throughout the forecast period. Moreover, the segment is expected to manifest the fastest CAGR during the forecast period.
According to the report published by Allied Market Research, the global probiotics market is expected to reach $57.4 billion by 2022, growing at a CAGR of 7.7% from 2016 to 2026.
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Rising health concerns, increasing consumption of functional foods, and surge in investment on R&D have boosted the growth of the global probiotics market. However, low awareness levels among consumers regarding the effectiveness of probiotic products and stringent government regulations hamper the market growth. On the contrary, an increase in demand in developing countries and a surge in awareness about its benefits are expected to create lucrative opportunities in the near future.
The global probiotics market is segmented on the basis of ingredient, function, application, end user, and geography. Based on ingredient, the market is divided into bacteria and yeast. The bacteria segment held the largest share, owing to its availability in powdered, gel, and liquid forms. Moreover, the segment is expected to manifest the fastest CAGR during the forecast period.
On the basis of function, the market is bifurcated into regular, preventative healthcare, and therapeutic. The preventive healthcare segment is expected to portray the fastest CAGR during the study period. This is due to a rise in demand for probiotic-based medicines for chronic diseases in high populace countries.
Based on application, the market is segmented into food & beverages, dietary supplements, and animal feed. The food & beverages segment held the largest share in 2014, accounting for four-fifths of the market. On the other hand, the animal feed segment also held a significant share.
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The global probiotics market is analyzed across various regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across Asia-Pacific held the largest share and would continue its dominance throughout the forecast period. Moreover, the market across North America and Europe would continue to grow.
The global probiotics market report including an in-depth analysis of the major market players such as BioGaia AB, Chr. Hansen Holding A/S, Danone, Probi AB, Yakult Honsha Co. Ltd., Nestle S.A., Lifeway Foods, Inc., E. I. du Pont de Nemours and Company, Ganeden, Inc., and Protexin.
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