Probiotics Market Worth $91.1 Billion by 2026, at a CAGR of 8.3%

MarketsandMarkets
The global probiotics market is estimated to be valued at USD 61.1 billion in 2021 and is projected to reach USD 91.1 billion by 2026, at a CAGR of 8.3% during the forecast period.

The report Probiotics Market by Application (Functional Food & Beverages (Dairy Products, Non-dairy Beverages, Infant Formula, Cereals), Dietary Supplements, Feed), Ingredient (Bacteria, Yeast), Form (Dry, Liquid), End User, & Region – Global Forecast to 2026″, The global probiotics market is estimated to be valued at USD 61.1 billion in 2021 and is projected to reach USD 91.1 billion by 2026, at a CAGR of 8.3% during the forecast period. The global demand for probiotics is increasing significantly due to growing awareness among customers due to their direct relation to digestive health benefits, the rise in demand for nutritious food, and increase in demand for quality animal products. Probiotics are found in supplement form, or as components in food and beverages.

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Drivers: Rising health consciousness among consumers

The growing awareness among the population for leading a healthy lifestyle has resulted in an increased interest in natural food products. Such growing awareness about health & nutrition products is driving the market for probiotics. Personal well-being is major factor that is influencing the consumption of natural ingredient products, majorly probiotics. Consumers have realized that adding probiotics to their regular diet offers health benefits such as improved intestinal health, low-calorie intake, increased immunity, and boost calcium absorption, thereby driving the market for probiotics ingredients.

Restraints: High R&D costs for developing new probiotics strains

Sustainable investments in R&D activities and investments in laboratories, research equipment, and high cost of hiring trained professionals create barriers in the development of the probiotics market. The scientific validation related to the usage of probiotics in their applications becomes a success to this market. Probiotics applications are linked with health benefits, which makes it challenging for manufacturers to get an adequate RoI on high initial investments.

Food & beverage segment is projected to be the largest segment in the probiotics market during the forecast period.

The food & beverage segment dominated the probiotics market, on the basis of application, during the forecast due to the rising popularity of probiotic functional foods & beverages among consumers. Awareness, faith in their efficacy, and safety are some of the factors driving the market of probiotics. Probiotic ingredients are being incorporated in a wide range of food & beverage applications such as dairy products, non-dairy beverages, cereals, and infant formula. The food & beverages segment is the largest revenue-earning market across regions. Consumers are now taking a proactive approach towards preventing chronic conditions.

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The Europe is projected to account for the second-largest market size during the forecast period.

Europe hold second-largest share in the global prbiotics market. The food & beverage industry is one largest and most important manufacturing secotrs in Europe. European consumers are health conscious and scrutinize ingredients on product labels before purchasing them. Most of the European countries such as the Netherlands and Spain have for approval from ASEAN for the term probiotics on food and food supplement labels sold in the country. This is paving way for increased demand for the consumption of probiotics products in the region.

This report includes a study of marketing and development strategies along with the product portfolios of leading companies in the probiotics market. It includes profiles of leading companies such as Danone (France), Yakult Honsha (Japan), Nestlé (Switzerland), and Chr. Hansen (Denmark).

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