Global probiotics market overview and outlook:
- The global probiotics market is projected to grow at a CAGR of 6-8% during 2020-25 to reach USD 75-80 billion by 2025, driven by health benefits and technological developments
- Emerging economies in Central Asia and South America are expected to drive growth owing to increased demand for probiotics in food and beverage and health supplements in these markets
- Probiotics-strain-enhanced additives are used to improve the nutritional profile of non-dairy, meat, and baked preparations, owing to their rich concentration of antioxidants and vital amino acids, which will likely boost market demand
- Further, consumers are shifting towards alternate and more heathier versions of food items currently consumed, which necessitates the use of probiotic strains.
- Food supplements offer various advantages, such as offering multiple bacterial strains in a potent dose, correcting bacterial concentrations in the digestive tract, and alleviating abdominal discomfort which should boost market demand. Moreover, they boost the immune system and prevent bacterial and fungal infections by resisting against airborne pathogens
- A ban on the use of antibiotics and growth promoters in Europe leads to a high demand for probiotics as an alternative which further provides a developing opportunity for the market players over the forecast period.
- Some of the major players operating in the probiotics market include Arla Foods, BioGaia AB, DuPont Danisco, Danone, etc.
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Market Growth Drivers and Trends:
Key factors driving the global probiotics market are:
- Growing health awareness
- Rising ageing population, especially in certain Asian countries
- Rising investments in R&D
Potential Challenges:
Key factors likely to restrain or slow down growth in the global probiotics market :
- Supply chain disruptions and slowdown in consumption due to COVID-19
- Stringent regulatory environment
- High R&D costs
Global Probiotics Market Research Scope:
- The base year of the study is 2019, with forecast done up to 2024. The report provides a detailed assessment of the global probiotics market, including insights on the market dynamics, key drivers, challenges, regulations impacting the market, technology assessment and value chain analysis.
- We have also estimated the current market size for probiotics globally and by geography, ingredient and by end-use application; 5-year outlook of the market, factors driving growth along with regional insights and trends
- The study also presents a thorough analysis of the competitive landscape, considering the market shares of the leading companies. These provide the key market participants with the necessary business intelligence and help them understand the future of the global probiotics market
Author – Prasanth R Krishnan
Associate Director – Operations
Connect to the author of the report at reports@avalonglobalresearch.com or contact us at https://www.agrknowledge.com/contact-us