Probiotics Market Is Expected To Boost By Growing Demand In Global Functional Food Industries Till 2024: Grand View Research, Inc.

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According to report published by Grand View Research,The global probiotics market is expected to reach USD 66.04 billion by 2024. Increasing disposable income, broadening of probiotics portfolio and easy availability of the product is also expected to benefit the industry demand.

The global probiotics market is anticipated to touch a market valuation of USD 66.04 billion by 2024, as per a report by Grand View Research, Inc. The market for probiotics is set to expand at a steady CAGR from 2014 to 2024 (forecast period) owing to rising preference of functional foods to resolve health disorders. Rise in prevalence of various health issues, expendable income of patients, and improving standards of living are expected to further propel the market. Offerings of probiotics in beverages and dairy products are projected to contribute to market revenue.

Demand for probiotic dietary supplements and nutrient-rich feeds for animals can augur growth of the market for probiotics in near future. High consumption of meat is anticipated to steer livestock farmers into procuring probiotic-filled feed. Better packaging standards are being implemented to cater to consumers of all demographics. Campaigns by international food safety councils to create awareness among the public can positively impact the market. However, lack of standards in the industry can impede market growth during the forecast period. Biopolymers are being increasingly used by manufacturers for encapsulation of probiotics. Bacteria within these enclosures were able to multiply their nutrient strength and increase their viability considerably. These capsules can play a major role in combating gastrointestinal conditions.

Full research report on probiotics market analysis:

U.S. probiotics market by product, 2014 - 2024 (USD Billion)

The global probiotics market is fragmented by application, end use, and region. Major applications are divided into probiotics food and beverages, probiotics dietary supplements, and animal feed products. By end use, the market is bifurcated into animal feed and human probiotics.

Regions covered in the market report include Central and South America (CSA), North America, Middle East and Africa (MEA), Asia Pacific (APAC), and Europe. The North America market is expected to expand at a 6.8% CAGR over the forecast period. This expansion is attributed to high awareness and preference for dietary supplements. The emergence of smart probiotics, bacteria programmed to kill specified targets, can transform the market in years to come. However, pending regulations from the U.S. Food and Drug Administration (FDA) regarding the use of fecal microbiota transplant (FMT) can pose a challenge to the market.
The APAC market for probiotics is expected to experience a healthy growth rate from 2016 to 2024. Increasing demand from Japan, China, and India is the primary regional driver. Government policies favoring the use of probiotics, high awareness among the local consumers, and rising geriatric populace are other factors expected to spur market growth. Presence of international players is anticipated to bode well for the market in terms of availability of the product. The emerging market of probiotic drinks can open up avenues for the market manufacturers to explore in the forthcoming years.

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Global probiotics market share by end-use, 2016 (%)
The Europe probiotics market is projected to accrue good revenue by 2022 due to concerns regarding low immunity levels in children. Manufacturers have successfully managed to produce chewable probiotic tablets to facilitate children and elderly in raising their immunity. For instance, the Culterelle brand of probiotics can reduce inflammation, a symptom of irritable bowel syndrome (IBS). The use of genetically engineered microbes to treat animal cancers is expected to increase the demand for probiotics in the forthcoming years.

The MEA and CSA markets are purportedly anticipated to experience modest CAGR during the forecast period. The CSA market is expected to be dominated by Brazil due to emphasis on consumer health. The MEA market can contribute to market revenue due to changing lifestyles of consumers and the integration of yogurts and yogurt-flavored drinks into the diet. According to a study conducted by the Makassed University General Hospital in Lebanon in March 2016, probiotics can have a profound effect on immunity during pregnancy, neonates, and children.

Key players operating in the global probiotics market include Danone, Nestlé S.A., Yakult Honsha Co., Ltd., Danisco A/S, and Mother Dairy Fruit & Vegetable Pvt. Ltd. These players are focusing on R&D to expand their product portfolio and integrate a holistic approach to probiotic production. Regulations on the amount of probiotics to be integrated to foods coupled with packaging and storage conditions can restrain new players from entering the market.

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About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

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