LONDON--(BUSINESS WIRE)--The global probiotics market is expected to grow by USD 31.28 billion as per Technavio. This marks a significant market slowdown compared to the 2019 growth estimates due to the impact of the COVID-19 pandemic in the first half of 2020. However, healthy growth is expected to continue throughout the forecast period, and the market is expected to grow at a CAGR of over 10%.
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Read the 120-page report with TOC on "Probiotics Market Analysis Report by Product (Functional food and beverage, Dietary supplements, and Animal feed), End-user (Human probiotics and Animal probiotics), Geography (Europe, APAC, North America, MEA, and South America), and the Segment Forecasts, 2020-2024".
The market is driven by the health benefits of probiotics. In addition, the increasing demand from the aging population is anticipated to boost the growth of the probiotics market.
Probiotics hinder the growth of harmful bacteria in the digestive tract and improve nutrient absorption and bowel movements. In women, the consumption of probiotics increases lactobacilli count and prevent diseases such as bacterial vaginosis, yeast infection, and urinary tract infection. Probiotics can also be used in animals to improve the interstitial microbial balance by lowering the pH levels. Also, according to several clinical studies, the consumption of probiotics prevents the growth of harmful microbes such as Candida, Escherichia coli, Helicobacter pylori, and Salmonella and reduces the risk of colon, bladder, and breast cancers. Many such health benefits are driving the growth of the global probiotics market.
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Major Five Probiotics Companies:
BioGaia AB operates its business through segments such as Paediatrics and Adult Health. The company offers consumer probiotic products, such as baby drops, tablets, oral health products, and others. These products are based on different strains of the lactic acid bacterium, Lactobacillus reuteri.
Chr. Hansen Holding AS
Chr. Hansen Holding AS operates its business through segments such as Food Cultures and Enzymes, Health and Nutrition, and Natural Colors. The company offers probiotic products, such as dietary supplements to the customers in the nutrition and health industry.
Danone SA operates its business through segments such as Specialized Nutrition, Essential Dairy and Plant-Based Products, and Waters. The company offers a wide range of probiotic products, such as yogurt, fruit juices, and coffee under the brands alpro, Activia, and Syneo.
DuPont de Nemours Inc.
DuPont de Nemours Inc. operates its business through segments such as Electronics and Imaging, Nutrition and Biosciences, Transportation and Industrial, and Safety and Construction. The company offers FloraFIT Probiotics and HOWARU Premium Probiotics. These are used in manufacturing dairy products, beverages, confectionery, dietary supplements, and frozen desserts.
Kerry Group Plc
Kerry Group Plc operates its business through segments such as Taste and Nutrition and Consumer Foods. The company offers a wide range of probiotic products, such as dairy products, tea and coffee, fruit drinks, sweets, and others under the brand Ganeden.
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Probiotics Market Product Outlook (Revenue, USD Billion, 2020-2024)
- Functional food and beverage
- Dietary supplements
- Animal feed
Probiotics Market End-user Outlook (Revenue, USD Billion, 2020-2024)
- Human probiotics
- Animal probiotics
Probiotics Market Geography Outlook (Revenue, USD Billion, 2020-2024)
- North America
- South America
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Related Reports on Consumer Staples Include:
Global Probiotic Drinks Market – Global probiotic drinks market by product (dairy drinks and juice drinks) and geography (North America, APAC, Europe, South America, and MEA).
Global Functional Drinks Market – Global functional drinks market by product (energy beverages, functional fruit and vegetable juices, sports beverages, prebiotic and probiotic drinks, and others), distribution channel (on-trade and off-trade), and geography (APAC, Europe, MEA, North America, and South America).
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