Global Probiotic Ingredients Market Anticipate to reach at a CAGR 8.3% and Exhibit USD 557.47 Million through 2020 to 2027
Fior Markets launched a study titled “Probiotic Ingredients Market by Source (Bacteria and Yeast), Form (Liquid and Dry), Applications, End-users, Region, Global Forecast 2020-2027″.
As per the report, the global probiotics ingredient market is projected to grow from USD 272.03 million in 2019 to USD 557.47 million by 2027, at a CAGR of 8.3% during the forecast period 2020-2027. Europe has the largest market share. The presence of large number of manufactures, growing awareness of probiotic ingredients and availability of the product has contributed to the market growth. However, Asia-Pacific is another region which is projected to grow at a lucrative rate over the forecasted years. The growing health awareness in countries like India and Japan have enabled consumers to use probiotics ingredient as a supplement.
NOTE: Our analysts monitoring the situation across the globe explains that the market will generate remunerative prospects for producers post COVID-19 crisis. The report aims to provide an additional illustration of the latest scenario, economic slowdown, and COVID-19 impact on the overall industry.
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Key players in the probiotic ingredients market are Yakult Honsha Co. Ltd, Biocodex Inc., Sabinsa Corporation, Chr. Hansen Holding A/S, Danisco A/S, BioGaia AB, Danone Inc., Ganeden Inc., Lallemand Inc., Lifeway Foods, Inc., Nestle S.A., Protexin, Probi AB and others. Kerry group took over Ganeden Inc. in March 2018 for expanding its business. Ganeden helped Kerry to increase its position in the US market.
The source segment includes bacteria and yeast. Bacteria is the dominant sub-segment. The growth of sub-segment can be attributed to the added health benefits bacteria offers as compared to yeasts. Further, the ongoing research on the functioning of bacteria and it’s uses is the food and beverages segment is expected to boost the market growth. The form segment includes liquid and dry. The dry form holds the majority of the market share. It does not require additional requirements, and so transportation is hassle-free. The reason is the higher shelf life and easy to useability. The application form includes functional foods and beverages, animal nutrition and pharmaceuticals. Among these, functional food and beverages constitutes of the maximum market share. Probiotics ingredients are widely used in yoghurt, cheese and other dairy products. They are safe for consumption and are commonly used in fermented foods. The end-user segment includes human and animals. Human have more applications of probiotic ingredients. The growing awareness for health is the major factor for the growth.
Probiotics are generally live bacteria and yeasts which are often misunderstood as germs. Probiotics are naturally found in some food like yoghurt. It is beneficial for the animals as well. Probiotic ingredients help to secrete regular digestive juices and enzymes which help in the proper functioning of the digestive system. These ingredients can also be taken as a supplement. They are vital for the human body as they protect the healthy organisms from their harmful counterparts. Probiotic materials are used for analyzing psychological illness and neurological disorders. Also, they strengthen the immune system and reduces body pathogens. The growing health awareness concerning the digestive and immune system is the reason why probiotic ingredients are in demand. The growing unhealthy lifestyle, long working hours, consumption of alcohol and cigarettes are hampering the health of an individual which is expected to increase the market share in coming years. Further, the increasing demand for dairy items, nutrition-rich food and beverages are also contributing to the market growth.
About the report:
The global probiotic ingredients market is analysed on the basis of value (USD Billion), volume (K Units), export (K Units), and import (K Units). All the segments have been analyzed on global, regional, and country basis. The study includes an analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitor position grid analysis.
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