The report is titled' ‘Probiotics Market: Opportunity Analysis and Future Assessment 2020-2028’. An overview of conceptual frameworks, analytical approaches of the probiotics market is the main objective of the report, which further consists of the market opportunity and insights of the data involved in the making of the respective market. The probiotics market is expected to grow at a significant rate in the near future.
The global probiotics market was valued at US$ 54.5 Bn in 2020 and expected to reach at a value of US$ 92.3 Bn by 2028 with a significant CAGR of 6.8%
According to the World Health Organization (WHO), probiotics can be defined as living microorganisms which when administered in adequate amounts confer a health benefit on the host. The probiotics are generally consumed for the improvement or restoration of the gut flora. In general, numerous bacteria are classified as probiotics, but the major one accounts for Lactobacillus, Bifidobacterium, and Saccharomyces boulardii.
The Lactobacillus is the most common probiotic, which is easily found in yogurt and other fermented foods. It is proved beneficial for people suffering from diarrhea and is lactose intolerant. The Bifidobacterium species are available in some dairy products and it eases irritable bowel syndrome (IBS) and some other conditions. Lastly, the Saccharomyces boulardii is a yeast found in probiotics and fights diarrhea and other digestive problems.
Thus, the health benefits linked with probiotics enriched foods serve to be the major growth favoring factor for the global probiotics market. Factors such as the rising health awareness among consumers regarding the regular consumption of healthy food products with the incorporation of probiotics for strong health benefits acknowledge the demand for probiotics.
In addition, the growing awareness about probiotics as dietary supplements coupled with the rising research and development projects related to probiotics products also aids in boosting the market, shares in the forecast period.
On the flip side, improper international quality standards and related regulations for the probiotic product will limit the market size. Alongside, the shifting consumer preference for probiotics over pharmaceutical agents and the prohibition of Antibiotic Growth Promoters (AGPS) in feed in the EU is expected to offer lucrative growth opportunities during the forecast years.
At the same pace, the complexities associated with the integration of probiotics in functional foods serve to be the challenging factor, restricting the global market growth. As the development of these functional foods is complex and expensive and the common functional ingredients, such as fiber, vitamins, etc. are now replaced with new and improved products, such as foods enriched with probiotics, prebiotics, and others.
The global probiotics market is segmented on the basis of form, ingredient, application, end-user, and regions. Based on form, the probiotics market is segmented into liquid and dry. On the basis of ingredients, the market is categorized as bacteria and yeast. The application segment is further divided into functional food & beverages, dietary supplements, and feed. The end-user segment of the probiotics market is categorized into human and animal.
The research report classifies the global probiotics market based on form, ingredient, application, end-user, and regions.
Functional Food & Beverages
The global probiotics market is dominated by Chr. Hansen, Danone, Yakult Honsha, DowDuPont, Kerry, Probi AB, Nestle, Biogaia, Morinaga Milk Industry Co., Ltd., Glac Biotech, Bifodan A/S, Lallemand, General Mills, Uas Laboratories, Archer Daniels Midland Company.
The non-identical approach of Meridian Market Consultants stands with conceptual methods backed up with the data analysis. The novel market understanding approach makes up the standard of the assessment results that give a better opportunity for the customers to put their effort.
A research report on the probiotics market by Meridian Market Consultants is an in-depth and extensive study of the market based on the necessary data crunching and statistical analysis. It provides a brief view of the dynamics flowing through the market, which includes the factors that support the market and the factors that are acting as impedance for the growth of the market.
Furthermore, the report includes the various trends and opportunities in the respective market in different regions for a better understanding of readers that helps to analyze the potential of the market.
Various factors that are benchmarked while estimating the market growth include (but not restricted to):
New product designs and launches
Current product compliance
Concerns for use of Probiotics
Advantages of Probiotics
Actions taken by the manufacturer and respective regulatory authorities also impact the market growth of the segment. These factors are understood at the regional level and in major countries globally for providing regional insights of the product segment in the report. This helps our clients to make informed decisions.
A mix of the top-down and bottom-up approach is followed to arrive at and validate our market value estimations. For a product segment like wherein one/two manufacturer(s) dominates the market, its product sales, previous growth rates, and market expansion plans are considered to generate market share in the global market.