Global Probiotics Market Report 2022: Replacement of Pharmaceutical Agents by Probiotics Presents Lucrative Opportunities
DUBLIN, Nov. 30, 2022 /PRNewswire/ -- The "Global Probiotics Market by Product Type (Functional Food & Beverages, Dietary Supplements, and Feed), Ingredient (Bacteria and Yeast), End User (Human and Animal), Distribution Channel, and Region - Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The global probiotics market is estimated to be valued at USD 57.8 Billion in 2022. It is projected to reach USD 85.4 Billion by 2027, recording a CAGR of 8.1% during the forecast period. In the food & beverage industry, probiotics are living microorganisms associated with health benefits when consumed in appropriate quantities. They are helpful in the treatment of diseases, such as intestinal inflammation and urogenital infections, in both humans and animals.
Probiotic products are gaining popularity worldwide due to digestive health and other benefits. Thus, there is a significant rise in the demand for nutritious food, and the increase in the demand for quality animal products. Probiotics are found in supplement form or as components of food & beverages. Their integration with inexpensive but good-for-health products, such as yogurt, fruit juices, and cultured dairy drinks, has contributed to their significant market size. Manufacturers are coming up with various innovations in probiotic products, thus providing various choices for consumers.
The animal end-user segment is projected to grow at the fastest CAGR of 7.9% during the forecast period
Factors driving the animal segment in the probiotics market include the ban on synthetic Antimicrobial Growth Promoters (AGPs) in Europe in 2006 to promote the healthy growth of animals that provide safe meat for human consumption. The increasing awareness among consumers related to the benefits associated with the consumption of meat and dairy products has also given rise to their concern related to the quality of the meat they consume, hence, fueling the market growth.
Europe is projected to be one of the key markets for the application of probiotics in the feed industry. Besides this, emerging countries of the Asia Pacific and South America are projected to become key major revenue-generating pockets for probiotic manufacturers in the feed industry due to the rising demand for animal protein sources in the region. Thus, the demand for probiotics for animal nutrition is projected to increase at the fastest rate due to the growing awareness among pet owners and farmers.
Change in consumption pattern with growing incidence of chronic diseases is creating opportunities in the probiotics market
Chronic diseases are among the most prevalent health conditions worldwide, especially in developed countries, such as the US. As per the data published by the Partnership to Fight Chronic Disease (PFCD), chronic diseases are the leading cause of death and disability in the US. Approximately 133 million Americans, or 45% of the population, have at least one chronic disease, and chronic diseases are responsible for seven out of every 10 deaths in the US, killing more than 1.7 million Americans every year. Thus, changing consumption patterns and the growing prevalence of chronic diseases can prove to be a big opportunity for the players in the probiotics industry, especially in the dietary supplements space, as the products have health-associated benefits that are disease preventive.
Market Dynamics
Drivers
- Health Benefits Associated with Probiotic-Fortified Foods
- Increasing Popularity of Probiotic Dietary Supplements
- Participation of International Bodies in R&D of Probiotic Products
- Rising Health Consciousness Among Consumers
- Technological Advancements in Probiotic Products
Restraints
- International Quality Standards and Regulations for Probiotic Products
- High R&D Costs for Developing New Probiotic Strains
- Instances of Allergies to Some Probiotic Supplements
- Restraints Regarding Probiotic Efficacy
Opportunities
- Replacement of Pharmaceutical Agents by Probiotics
- Ban on Use of Antibiotic Growth Promoters in Feed in EU$
- Increase in Demand for Probiotics in Developed Economies
- Change in Consumption Pattern with Growing Incidence of Chronic Diseases
- Rising Consumer Awareness Related to Value-Added Products
- Use of Yeast Probiotics as Antibiotics or Growth Promoters
Challenges
- Complexities in Integrating Probiotics in Functional Foods
- Intolerance of Probiotics to Stomach Acid and Bile
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 Probiotics Market, by Product Type
8 Probiotics Market, by Ingredient
9 Probiotics Market, by End-user
10 Probiotics Market, by Distribution Channel
11 Probiotics Market, by Region
12 Competitive Landscape
13 Company Profile
14 Adjacent and Related Markets
15 Appendix
Companies Mentioned
- Probi (Sweden)
- Nestle (Switzerland)
- ADM (US)
- Danone (France)
- International Flavors & Fragrances Inc. (US)
- Yakult Honsha Co., Ltd. (Japan)
- General Mills Inc. (US)
- Chr. Hansen Holding A/S Inc. (Denmark)
- BiGaia (Sweden)
- Morinaga Milk Industry Co., Ltd. (Japan)
- SACCO System (Italy)
- Winclove Probiotics (Netherlands)
- AB-Biotics (Spain)
- Glac Biotech (Taiwan)
- Lallemand (Canada)
- BIOHM Health (US)
- Sun Genomics (US)
- Unique Biotech Ltd. (India)
- Probiotical S.p.A (Italy)
- Adisseo (China)
- NextFoods, Inc. (US)
- Lifeway Foods, Inc. (US)
- I-Health Inc. (US)
- Suja Life, LLC (US)
- So Good So You (US)
For more information about this report visit https://www.researchandmarkets.com/r/j8occ4
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