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Global Probiotics Market Segment Forecasts 2021-2028: Animal Probiotic Segment Forecast to Register 7% Growth Over Forecast Period
Dublin, Aug. 24, 2021 (GLOBE NEWSWIRE) -- The "Global Probiotics Market Size, Share & Trends Analysis Report by Product (Food & Beverages, Dietary Supplements), by Ingredient (Bacteria, Yeast), by End Use (Human, Animal), by Distribution Channel, and Segment Forecasts, 2021-2028" report has been added to ResearchAndMarkets.com's offering.
The global probiotics market size is expected to reach USD 95.25 billion by 2028. It is expected to expand at a CAGR of 7.2% from 2021 to 2028. Increasing prominence of preventive healthcare is among the major driving factors propelling the demand for probiotics across the globe. The considerable production and consumption of probiotics are complemented by innovations in probiotics by key players, most notably in countries such as China, Japan, and India.
Following the growing demand for probiotics, key market participants have been investing in R&D activities to develop efficient probiotic strains. The probiotics industry has also witnessed advancements in delivery systems to enhance the delivery of probiotics in humans and animals Such developments are expected to emerge as a trend in the industry over the forecast period. In developed countries such as the U.S., probiotics are sold mainly in the form of dietary supplements. The demand for probiotic nutritional supplements has been spurred by the growing aging population and increased consumer interest in preventive healthcare.
Market players have introduced new products supplemented with probiotics in addition to other dietary supplements. Probiotic supplements containing different probiotic strains are available in various forms such as probiotics drops, tablets, and capsules. Manufacturers of private label and branded products are likely to continue to extend their product lines in probiotic product categories. The growing product lines and diversification in the same are intended to make manufacturers capable of catering to diverse demand trends across the globe. The same factor is prompting retail channels to increase their production volume in accordance with changing consumer tastes and preferences. Such trends are expected to benefit the growth of probiotics market.
Asia Pacific dominated the probiotics industry in 2018 with a share of 41.7%. The region is expected to retain its prominent position throughout the forecast period. In the last decade, the region has garnered a significant response when it comes to adoption of probiotics. This is attributable to the rings levels of health consciousness coupled with wider accessibility of probiotic products in this region. Another key observation in Asia Pacific with regard to consumption of probiotics is the growing popularity of vegetarian probiotic products owing to a healthy increase in consumer vegetarianism.
Report Highlights
In terms of product type, probiotic beverages emerged as the largest segment in 2018 with a revenue of USD 39.56 billion. Cereal-based fermented beverages with probiotic content are being consumed extensively across the globe, thereby favoring the growth of the segment.
In terms of ingredient, bacteria segment is expected to dominate the market throughout the forecast period. The growth of the segment is driven by the increasing employment of bacteria to maintain urogenital health/ vaginal health.
In terms of end use, animal probiotic segment is expected to register relatively faster growth of over 7% over the forecast period. Increasing focus on enhancement of animal health has been fueling the demand for probiotics for animal nutrition.
Asia Pacific is expected to be both the largest and the fastest-growing regional segment over the forecast period. New prebiotic launches, innovations in probiotic delivery systems and the presence of key players have laid the platform for a healthy and strong growth of the region over the forecast period.
The probiotic industry is subject to intense rivalry among prominent market players. Product innovation, mergers & acquisitions, and portfolio expansion are some of the key strategies deployed by the key players.
Some of the key market players are Arla Foods, Inc.., BioGaia AB, Danone, Chr. Hansen Holding A/S, General Mills, Inc., Danisco A/S and Lallemand Inc.
Key Topics Covered:
Chapter 1 Methodology and Scope
Chapter 2 Executive Summary
Chapter 3 Market Variables, Trends & Scope
3.1 Market Lineage Outlook
3.2 Penetration & Growth Prospect Mapping
3.3 Value Chain Analysis
3.4 Technology Overview
3.5 Regulatory Framework
3.6 Market Dynamics
3.6.1 Market Driver Analysis
3.6.1.1 Growing inclination towards preventive healthcare
3.6.1.2 Development of efficient probiotic strains
3.6.2 Market restraint Analysis
3.6.2.1 High product development costs and stringent government regulations
3.6.3 Industry challenges
3.7 Business Environment Analysis
3.8 Market Entry Strategy
Chapter 4 Probiotics Market: Product Estimates & Trend Analysis
Chapter 5 Probiotics Market: Ingredient Estimates & Trend Analysis
Chapter 6 Probiotics Market: End-use Estimates & Trend Analysis
Chapter 7 Probiotics Market: Distribution Channel Estimates & Trend Analysis
Chapter 8 Probiotics Market: Regional Estimates & Trend Analysis
Chapter 9 Competitive Analysis
Chapter 10 Company Profiles
Arla Foods, Inc.
BioGaia AB
Chr. Hansen Holding A/S
Danone
Danisco A/S
General Mills, Inc.
Health Inc.
Lallemand Inc.
Lifeway Foods Inc.
Mother Dairy Fruit & Vegetable Pvt. Ltd.
Nebraska Cultures
Nestle S.A.
Probi AB
Yakult Honsha Co., Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/v0hma6
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