26-Oct-2018 | Zion Market Research
With the presence of a large pool of participants, the global probiotic market is displaying a highly competitive business landscape, finds a new research report by Zion Market Research (ZMR). BioGaia AB, Probi AB, Nestle S.A., E. I. du Pont de Nemours and Company, Protexin Danone, and Chr. Hansen Holding A/S, Yakult Honsha Co. Ltd, Ganeden Incorporation, and Lifeway Foods Inc. are some of the key vendors of probiotic across the world. These players are focusing aggressively on innovation, as well as on including advanced technologies in their existing products. Over the coming years, they are also expected to take up partnerships and mergers and acquisitions as their key strategy for business development, states the probiotic market study.
This review is based on a report by Zion Market Research, titled “Probiotic Market by Ingredient Type (Bacteria and Yeast), by Function (Regular Use, Preventive Healthcare, and Therapeutic), by Application (Food and Beverages, Dietary Supplements, and Animal Feed), and by End-user (Human Probiotics and Animal Probiotics): Global Industry Perspective, Comprehensive Analysis and Forecast, 2018 - 2024.”- Report at https://www.zionmarketresearch.com/report/probiotics-market
Citing an instance, in September 2018, Anlit Limited introduced a new product referred as ProBites LLP- a long-life probiotic chew supplement line in myriad flavors. Reportedly, the firm is expected to exhibit the new supplement at the Convention at Pharmaceutical Ingredients in second week of October 2018 in Madrid.
As estimated in this report, the global probiotic market stood at US$ 40.09 billion in 2017. Witnessing a tremendous rise during the period from 2018 to 2024, the revenue in this probiotic market is expected to reach US$ 65.87 billion by the end of the forecast period. The main ingredients available in this probiotic market are bacteria and yeast. Among them, the demand for bacteria is relatively higher and the trend is anticipated to remain so over the next few years, notes the probiotic market research report.
Rising Consumer Preference For Digestive Health To Boost Market Size
“Growing efficiency of probiotic bacteria and end-user inclination towards digestive health are expected to boost probiotic market trends,” says the author of this probiotic market study. Apart from this, probiotics provide consumers with health benefits and help in treating ailments associated with urinary tract, skin, and vagina along with the conditions such as irritable bowel syndrome, diarrhea, and inflammatory bowel.
Standardized labeling, low product shelf life, and demand for efficient packaging, however, are expected to hamper the growth of probiotic market in the ensuing years.
Growing Consumption Of Dairy Products To Aid Regional Dominance
Regionally, North America has been leading the worldwide probiotic market and is anticipated to continue on the dominant position in the years to come, states the probiotic market study. Large intake of dairy products and major risks associated with digestion due to massive consumption of processed food are the key factors behind the dominance of the North America probiotic market. Growing awareness among the middle-aged population to maintain good health along with adoption of healthy eating habits is another significant factor that is supporting this regional market. In addition, wide consumption of antibiotics is likely to spur probiotic market growth over the years ahead.
The global probiotic market is segmented as follows:
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