According to a new study published by Polaris Market Research the probiotics market is anticipated to reach over USD 77,240 million by 2026. In 2017, the functional food and beverage segment dominated the global market, in terms of revenue. Asia-Pacific is expected to be the leading contributor to the global market revenue during the forecast period.
A
significant increase in disposable income, changing lifestyles, and initiatives
by market players to promote natural products drive the growth of this
market. The health benefits offered by probiotics such as enhanced
digestion, stronger immune system, healthier skin, decreased chances of cold
and flu have increased its demand significantly over the years. Other factors
supporting market growth include increasing awareness regarding use of
probiotics in food products and beverages, and research and development for
advancement. Increasing demand from developing nations is expected provide
numerous growth opportunities to the market players during the forecast period.
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Improvement
in lifestyle and increasing disposable income, especially in the developing
countries of Asia-Pacific fuels the demand for probiotics market. Factors such
as increase in per capita income and changes in consumer behavior are expected
to accelerate the adoption of probiotics in the coming years. Consumers are
increasingly becoming aware regarding their health and taking preventive health
measures, thereby promoting the adoption of probiotics.
Asia-Pacific
generated the highest revenue in the market in 2017, and is expected to lead
the global market throughout the forecast period. The rising geriatric
population in the region, and increasing disposable income drive the market
growth. The increasing demand of health products in the region along with
increasing awareness regarding benefits of probiotics further support market
growth. The increasing demand of probiotics for animal feed and growing demand
for healthy livestock is expected to accelerate the adoption of probiotics
during the forecast period.
The
different sources of probiotics include bacteria, and yeast. In 2017, the
bacteria segment accounted for the highest market share. Use of healthy
bacteria offers benefits such as enhanced immunity, prevention of diarrhea and
irritable bowel syndrome, reduced chances of cold and flu, and increased lactase
production among others. Growing awareness and extensive research and
development for further development are expected to support market growth
during the forecast period.
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The
well-known companies profiled in the report include Danone, Yakult Honsha Co.,
Ltd., Nestle S.A., Lifeway Foods, Inc., Ganeden, Inc., Probi AB, BioGaia AB,
Danisco A/S, Nebraska Cultures, Lallemand Inc., General Mills, Inc., and
I-Health Inc. among others. These companies launch new products and collaborate
with other market leaders to innovate and launch new products to meet the
increasing needs and requirements of consumers.
