Rising health concerns, increasing consumption of functional foods, and increasing investment in research and development are driving the growth of the global probiotics market. In terms of ingredients, the bacteria segment had the highest market share in 2020. However, by region, the Asia Pacific market would have the fastest CAGR by 2030.
/ EIN News / – Portland, OR, Nov 02, 2021 (GLOBE NEWSWIRE) – According to the report released by Allied Market Research, the global Probiotics market was valued at $ 34.1 billion in 2020 and is projected to reach $ 73.9 billion by 2030, recording a CAGR of 8.6% from 2021 to 2030. Market size and estimates, competitive scenarios and different market trends.
Rising health concerns, increasing consumption of functional foods and increasing investments in research and development are driving the growth of the global probiotics market. On the other hand, multiple government regulations and low consumer awareness of the effectiveness of probiotic products are hampering growth to some extent. However, the growing demand for probiotic products in developing countries is expected to create lucrative opportunities in the industry.
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- The outbreak of the pandemic resulted in a sharp surge in demand for products that promote immune system health, which has had a positive impact on the global probiotic market.
- This trend is likely to continue after the pandemic.
The global Probiotics market is analyzed in terms of application, end use, function, ingredient, and geography.
In terms of ingredients, the bacteria segment had the highest market share in 2020 with more than two thirds of the world market. However, the yeast segment is expected to have the fastest CAGR of 8.9% from 2021 to 2030.
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By function, the preventive health segment made the largest contribution in 2020, accounting for more than half of the global probiotic market, and is expected to lead the way over the forecast period. The same segment is also expected to show the fastest CAGR of 9.4% from 2021 to 2030.
By region, Asia-Pacific held the highest market share in terms of sales in 2020 and generated more than two-thirds of the global probiotics market. The same region is also expected to have the fastest CAGR of 9.0% over the entire forecast period. Other provinces discussed in the report include North America, Europe and LAMEA.
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Major market players analyzed in global Probiotics Market report include Danone, Chr.Hansen Holding A / S, Probi AB, BioGaia AB, Nestle SA, Ganeden, Inc., Lifeway Foods, Inc., EI du Pont de Nemours and Company, Protexin and Yakult Honsha Co. Ltd. These market players have to use multiple strategies like partnership, expansion, collaboration, joint ventures and others in order to prove their keen sense in the industry.
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Allied Market Research (AMR) is a full-service market research and management consulting arm of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides unmatched quality of “Market Research Reports” and “Business Intelligence Solutions” to global corporations as well as medium and small businesses. AMR provides targeted business insights and advice to help its clients make strategic business decisions and achieve sustainable growth in their respective market areas.
Pawan Kumar, CEO of Allied Market Research, leads the company to provide high quality data and insights. We have professional business relationships with various companies and this helps us unearth market data which will help us create accurate research data tables and confirm the highest accuracy of our market forecasts. All of the data presented in the reports we publish are extracted through primary interviews with top officials from leading companies in the domain in question. Our methodology for obtaining secondary data includes in-depth online and offline research and discussions with knowledgeable professionals and industry analysts.
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