The probiotics market is expected to grow at a CAGR of 5.6% from 2020 to 2027 to reach $75.9 billion by 2027.
The growth of this market is mainly attributed to growing consumer awareness regarding the health benefits of probiotics, increasing use of probiotics as an alternative to antibiotics, and growing research programs on probiotics for new applications.
Moreover, the growing use of probiotics for children and e-commerce growth is expected to create lucrative opportunities for players operating in this market. However, complex regulations related to probiotics are expected to hinder the growth of this market to some extent.
Based on strain, the yeast strain products segment is expected to grow at the highest CAGR during the forecast period. The increasing use of yeast strain in animal feed & functional food and the rising use of probiotics as an alternative to antibiotics are the major drivers for the growth of this segment. Besides, increasing demand for yeast strain-based medicines due to proven positive results for reducing the risk of chronic diseases is expected to boost its demand in the forecast period.
Based on product type, the functional food & beverages segment is expected to command the largest share of the overall probiotics market in 2020. The large share of this market is mainly attributed to the rising health and wellness trends; growing consumer interest for functional food, particularly probiotics that can support digestive health; and the growing application of probiotics in yogurt.
Based on form, the dry form segment is expected to grow at the highest CAGR during the forecast period. Dry probiotics offer advantages, such as better handling & transport, ease of use, affordability, and the ability to avoid costly formulation mistakes.
Based on sales channel, the probiotics market is segmented into offline and online sales. The offline sales segment is expected to command the largest share of the overall probiotics market in 2020. The large share of this segment is mainly attributed to the rising interest in healthy eating habits, growing number of pharmacies, and the expanding probiotics supplements industry.
Based on end user, the animals segment is expected to grow at the highest CAGR during the forecast period. The animal probiotics sector has witnessed significant growth due to the growing pressure regarding reducing the use of antibiotics in feed. Further, the growing awareness among pet owners, cattle farmers, and hobbyists regarding the advantages of probiotics for animal health offer significant opportunities for players operating in the animal probiotics market.
Geographically, Asia-Pacific is expected to command the major share of the overall probiotics market in 2020. The leading position of the region is primarily attributed to the increased consumer awareness regarding digestive health, immunity, and overall wellness; growing number of diabetics and overweight people; increasing demand for non-dairy probiotics food; the presence of key players in the digestive health products marketspace; and rising innovations in probiotics formulations.
The report includes a competitive landscape based on an extensive assessment of the key strategic developments adopted by the leading market participants in the probiotics market over the last four years (2017-2020).
The key players operating in the probiotics market are
- Probi AB
- BioGaia AB
- Chr. Hasen
- Danone S.A
- Yakult Honsha
- Lifeway Foods
- Dupont de Nemours
- Kerry Group
- Archer Daniels Midland
- Deerland Probiotics & Enzymes
- KeVita Inc
- Evolve BioSystems
- Cell Biotech Co. Ltd
- Probiotical S.p.A.
Key Topics Covered:
2. Research Methodology
3. Executive Summary
4. Market Dynamics
4.2.1. Growing Awareness Regarding the Benefits of Probiotic-Induced Foods
4.2.2. Increasing Use of Probiotics as an Alternative to Antibiotics
4.2.3. Growing Research on Probiotics
4.3.1. Complex Regulations Related to Probiotics
4.4.1. Growing Use of Probiotics in infant Feeding
4.5.1. E-Commerce Growth
4.6. The Impact of Covid-19 on the Probiotics Market
5. Regulatory Analysis
6. Global Probiotics Market, by Strain
6.2.1. Multi-Bacterial Strain Products
6.2.4. Streptococcus thermophilus
6.2.6. Other Bacterial Strain Products
7. Global Probiotics Market, by Product Type
7.1. Functional Food & Beverages
7.1.1. Dairy Based
18.104.22.168. Probiotic Milk
7.1.2. Non-Dairy Based
22.214.171.124. Non-Dairy Yogurt
126.96.36.199. Non-Dairy Kefir
188.8.131.52. Fruit and Vegetable Juices
184.108.40.206. Baked Food
220.127.116.11. Other Non-Dairy Based Products
7.2. Medical & Dietary Supplements
7.2.1. Nutritional Supplements
7.2.2. Specialty Nutrients
7.2.3. Infant formula
7.3. Animal Feed
8. Global Probiotics Market, by Form
8.2. Liquid Probiotics
8.3. Dry Probiotics
8.3.1. Capsules & Tablets
8.3.3. Semi-Solid & Gels
8.3.4. Stick Packs
9. Global Probiotics Market, by Sales Channel
9.2. Offline Sales
9.2.3. Health Food Stores
9.3. Online Sales
10. Global Probiotics Market, by End User
10.2.1. Adults (18-65 Years)
10.2.2. Seniors (Above 65 Years)
10.2.3. Children & Adolescents (< 18 Years)
10.3.6. Other Animals
11. Probiotics Market, by Geography
12. Competitive Landscape
12.2. Competitive Benchmarking
13. Company Profiles (Business Overview, Financial Overview, Product Portfolio, Strategic Developments)
For more information about this report visit https://www.researchandmarkets.com/r/orhsbq