The probiotic market is estimated at USD 49.4 million in 2018 and projected to reach USD 69.3 million by 2023, growing at a CAGR of 7.0% during the forecast period. The growing demand for probiotics in fortified foods is the increase in the awareness related to their benefits and consumers’ willingness to purchase premium products incorporated with probiotics.
The functional foods & beverages segment is estimated to account for the largest share, by application, in 2018
Based on applications, the probiotic market is segmented into functional foods & beverages, pharmaceuticals, animal nutrition, and others, which include cosmetics and personal care. The global probiotics market is currently driven by the rising popularity of probiotic functional foods & beverages among consumers.
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The human segment is estimated to account for the largest share, by end-user, in 2018
The level of probiotic consumption among different age groups is driven by several factors—the primary one being the awareness and willingness to accept bacteria as a potentially health-benefiting ingredient.
The liquid segment is estimated to account for the largest share, by form, in 2018
Based on the form segment, the liquid segment is projected to account for the largest market share. Liquid probiotics are easier to mix and provide a uniform texture to the consumable product and consistent concentration in solutions; hence, are highly demanded yogurt and beverages.
The bacteria segment, by ingredient, is estimated to dominate the probiotic ingredients market in 2018
Based on ingredients, the probiotic ingredients market is segmented into bacteria and yeast. The bacteria segment is estimated to account for the largest share in the probiotic ingredients market in 2018. Although yeast is more stable and robust, bacteria strains have more health benefits and a large number of strains that are available within the bacteria.
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Asia Pacific is estimated to dominate the probiotic market, in terms of value, in 2018
The application of probiotic strains is projected to increase due to the consumer demand for application in functional foods and pharmaceutical end products. India offers a huge potential in this region due to the increasing number of pharmaceutical companies involving themselves in the licensing and development of probiotic drugs.
This report includes a study on the marketing and development strategies, along with a study on the product portfolios of the leading companies. It consists of the profiles of leading companies such as Chr. Hansen A/S (Denmark), Danone S.A. (France), Yakult Honsha Co., Ltd. (Japan), Nestlé S.A (Switzerland), and Kerry Group Plc (Ireland).
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