The probiotics market is estimated to be valued at 45.64 billion in 2017, and projected to grow at a CAGR of 7.0%, to reach USD 64.02 billion by 2022.
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Probiotics Market highlights key players such as Chr. Hansen, Danone, Yakult Honsha, Nestlé, DuPont, Morinaga, Lallemand, Probi, Bifodan, BioGaia, Probiotics International, Nebraska Cultures.
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The market is primarily driven by factors such as growing awareness about the benefits of probiotics among customers, rising demand for nutrient-rich feed for animals, and increasing demand for probiotic dietary supplements.
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Asia Pacific is projected to be the fastest-growing region due to the incorporation of probiotics in daily diets of consumers in China and Japan. One of the major restraints in the growth of the probiotic is the time required for regulatory approval.
On the basis of source, the probiotics market was led by the bacterial segment. Lactobacilli, one of the types of bacteria, accounted for the largest market share in2016.Health benefits such as increased lactase production, prevention of diarrhea, prevention of irritable bowel syndrome, and enhanced immunity of Lactobacilli make the strain the most preferred option by probiotic producers.
On the basis of form, the liquid segment accounted for the largest share of the probiotics market in 2016. Liquid probiotics are preferred by consumers having difficulty in swallowing pills, especially infants.
New products are available in the market such as probiotic-infused juices and yogurt-based drinks, which provide consumers with new options of probiotic consumption.
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On the basis of end user, the human probiotics segment accounted for the largest share of the probiotics market in 2016.The routine consumption of probiotics in regular diets has shown functional improvements in consumer health, which has fueled the demand for human probiotics over animal probiotics.
Asia Pacific is projected to be the fastest-growing region, in terms of value, between 2017 and 2022. Some of the factors that drive the usage of probiotics in this region include high demand for functional foods and dairy products, the presence of major players in these regions, and awareness about the benefits of using probiotics.
Break-up of Primaries:
- By Company Type: Tier 1 – 35%, Tier 2 – 45%,and Tier 3 – 20%
- By Designation: D Level – 25%, C Level – 35%, and Others*– 40%
- By Region: North America –20%, Europe –25%, Asia Pacific – 40%, and RoW – 15%
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The report segments the probiotics market on the basis of source, application, form, end user, and region. In terms of insights, this research report has focused on various levels of analyses—competitive landscape, end use analysis, and company profiles—which together comprise and discuss the basic views on the emerging & high-growth segments of the global probiotics market, high-growth regions, countries, government initiatives, drivers, restraints, opportunities, and challenges.
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