Pune, India, December 07, 2021 (GLOBE NEWSWIRE) – The global Probiotics market size is projected to reach $ 94.48 billion by 2027 and will have a CAGR of 7.9% between 2020 and 2027. This information is provided by Fortune Business Insights in its report, entitled “Probiotics Market, 2020-2027The report goes on to mention that the market was US $ 48.88 billion in 2019. The growing consumption of nutritious foods in the health-conscious part of the market has been gaining popularity in recent years. For example, the Nutrition Society of Malaysia introduced the Probiotics education program to educate consumers about the health benefits of these products.
Effects of COVID-19
The market is experiencing high demand, supported by increasing product consumption
The coronavirus outbreak caused consumers to panic about buying immunity-boosting supplements to minimize the effects of infection. The increasing demand for products led to an expansion of the sales channel networks. Many well-known companies have also sold their products online for high revenue. During the pandemic, increased investment was made to research a product that could boost the human body’s immunity. Strategic advertising and promotional activities on digital platforms during the pandemic also generated revenue for nutraceuticals.
List of Major Players in the Probiotics Market:
- Danone SA (Paris, France)
- Lallemand Inc. (Canada)
- Yakult Honsha (Japan)
- Nestlé SA (Vevey, Switzerland)
- DuPont (Danisco A’S) (Delaware, United States)
- Chr. Hansen (Horsholm, Denmark)
- Kerry Inc. (Tralee, Ireland)
- Post Holdings, Inc. (Missouri)
- Pepsico, Inc. (New York, USA)
- Evolve Biosystems, Inc. (Davis, California)
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|Global Probiotics Market|
|Duration of study|
|segmentation||Microbial genus, application, distribution channel and region|
On the basis of the microbial genus, the market is divided into Lactobacillus, Bifidobacterium, and Yeast. In terms of the drug class, the insulin segment had a market share of around 43.7% in 2018.
Depending on the application, the market is divided into functional foods and beverages, nutritional supplements and animal feed. Based on the sales channel, the market is divided into supermarkets / hypermarkets, pharmacies / health food stores, convenience stores, online retail stores and others. Geographically, the market is divided into North America, Europe, the Asia-Pacific region, South America and the Middle East and Africa.
What does the report contain?
The report provides a glimpse into profitability, overall structure and scope. It also studies the drivers and restraints, taking into account all potential threats to the market. The critical analysis of market segments, predictive analysis and expert insights are strategically incorporated into the report. A wide range of data, including regional analysis, market segmentation, industry developments, and key players, feed into the research conducted by market experts.
Search the detailed abstract of the research report with the table of contents:
Increasing product awareness through social media to drive demand
The numerous health benefits of the product are fueling the growth of the probiotics market. The increasing awareness and advertising by prominent personalities creates a demand in the market. Various athletes and yoga teachers emphasize the health benefits of nutraceuticals over social media than paid partnerships. In addition, a significant proportion of health conscious vegan consumers prefer to get their nutrients from nutraceutical sources. The industry is also seeing high investments in research and development for innovation. In February 2020, for example, the Amorepacific Group opened its novel research center for green tea probiotics to study lactobacilli found in organic green tea from Jeju.
Growing awareness of health benefits to support growth in Asia Pacific
Due to high consumption in China and Japan, the Asia-Pacific region is expected to hold the largest market share in probiotics. The growing awareness of the product’s health benefits is meeting with strong demand from the region. For example, Yakult Honsha announced that it sells 9,540 bottles of Yakult every day in Japan.
Significant growth is expected in North America in the coming years. This is due to the well-established food industry in the region. In addition, a growing preference for a healthy diet due to the prevalence of lifestyle diseases in the region is expected to increase product demand.
Well-known companies working together to improve their market prospects
The competitive landscape of the probiotics market provides us with details on prominent players in this industry. Research is being carried out into technological advancement of the major players in order to gain a foothold in the market. Several market giants are also working together on manufacturing facilities to expand their business horizons. Some companies also use awareness campaigns to strategically introduce their products to regions with minimal awareness in order to broaden their horizons. Several more strategic collaborations, acquisitions, partnerships, product launches, technological advances, and others are spread across the market horizon of this product.
Key Industry Development:
April 2020: Chr. Hansen Inc. has launched a science-based probiotic online platform in the United States. The platform aims to educate consumers and healthcare professionals about the benefits of probiotics.
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