The global market size for probiotics industry is segmented by product (food and beverages, dietary and supplements market, animal feed products) by the end-users (human probiotic products, animal probiotic products) by strain types (lactobacillus, streptococcus, bifidobacterium, yeast, spore, formers) & by Geography, Forecasting years 2017-2025.
The probiotic market is anticipated to grow from $41741 million in 2016 to $71948 million by 2025, at a CAGR of 7.30% between 2017 and 2025. The base year considered for the report is 2016 and the forecast period is from 2017 to 2025. Rising demand for food and beverages for functional products, initiatives towards awareness and demand building and rising disposable income in the emerging countries are the key drivers of the global probiotic market.
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The global probiotic market is segmented by product on the basis of food and beverages, dairy products, non-dairy products, cereals, fermented meat, dietary and supplements market, food supplements, nutrient supplements, specialty nutrients, infant formulas and animal feed products. The market is also segmented by the end-users on the basis of human probiotic products and animal probiotic products. The market is segmented into another by strain types on the basis of lactobacillus, streptococcus, bifidobacterium, yeast and spore formers. Globally, there is a lack of clarity and uniformity in food standards which is a restraint in the probiotics market. Also, high prices of the products put them in a niche bracket. Rise in the demand of the probiotic product in a new segment, alternatives for the pharmaceutical products and growth in the probiotic beverages segment are the new options coming up for the global probiotics market. Conversely, low awareness and limited options in the probiotic products and side effects of products are limiting the probiotics market.
The probiotic market in Asia-Pacific is expected to hold a colossal share by 2025. The Asia Pacific large share is mainly attributed to the rising demand for the probiotic drugs and supplement from developing countries such as India, China, and Japan. After India, China, and Japan, the U.S. and Canada are anticipated to be the developing markets for the probiotic. Most of the technological developments are expected to be adopted by the above-mentioned countries.
Major players in the probiotic market are Lifeway Foods Inc, Danone, Yakult Honsha Co Ltd, Nestle SA, Danisco, Inc, Bio Gaia AB, Arla Food Inc, Chr. Hansen Holdings A/S, LallemandInc, Probi AB, Mother Dairy Fruit and Vegetables, Nebraska Cultures, I-Health Inc, General Mills Inc, Ganeden, and Protexin.
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