Probiotics market share to hit USD 64 billion by 2023
Posted: Apr 24, 2017
The market research report "Probiotics Market Size By End Use (Human, Animal), By Application (Functional Foods & Beverages [Dairy, Non-dairy, Cereals, Baked Goods, Fermented Meat Products, Dry Foods], Dietary Supplements [Food, Nutritional, Specialty, Infant Formula], Animal Feed Probiotics), Industry Analysis Report, Regional Outlook (U.S., Germany, UK, China, Japan, India, Brazil), Application Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2023". Probiotics Market worth over USD 35 billion in 2015, is foreseen to record a CAGR 7% over the period 2016-2023
The surging demand for packaged and functional food will stimulate the growth of probiotics market worldwide. Augmentation in food technology fueled by preference toward dietary supplements has left a positive impact on the probiotics industry.
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Growing health concerns is also expected to play a crucial role in complementing the probiotics industry size on account of its extensive contribution in curing intestinal inflammation, diarrhea, blood pressure regulation, and other gut-related disorders.
The global probiotics industry finds major application in animal feed sector and functional foods and beverages industry. Probiotics market penetration in the animal feed sector is estimated to exceed USD 4.2 billion at an annual growth rate of 8% over 2016-2023. The evolution can be credited to the growing consumer consciousness associated with animal health and claim for high-quality meat.
Functional food & beverages sector contributed massively toward global probiotics market in 2015, and is expected to continue its dominance over the forecast period due to rise in consumption of dry food, dairy items, and cereals.
Probiotics market revenue in the dietary supplements sector is projected to register a significant gain of 8% over the coming six years, due to the wide use probiotics in specialty nutrients, food supplement, and infant formula.
Browse key industry insights spread across 120 pages with 99 market data tables & 14 figures & charts from the report, "Probiotics Market" in detail along with the table of contents:
Poultry probiotics market will also directly and positively influencing the global probiotics industry share over the coming time frame.
Geographically, Asia Pacific probiotics industry dominated by Japan, India, and China will continue to be the major revenue pocket owing to the rise in geriatric population, health conscious consumers, and increased infant formula consumption. It is expected to exhibit a steady growth rate of 7.5% over 2016-2023.
North America probiotics industry, led by U.S. is projected to contribute substantially toward the regional share at an annual growth rate of 7% over 2016-2023 having accounted for 80% of the total volume in 2015.
LATAM probiotics market is likely to observe a high growth of 9% over the period of 2016-2023, driven by the rising adoption of specialty nutrients across the region. MEA probiotics market, led by UAE and South Arabia is also expected to show modest growth over the estimated timeframe.
Notable probiotics industry players include Nestle, Chr Hansen, Danisco A/S, Yakult, Arla Foods Lallemand Incorporation, Danone, BioGaia AB, Nebraska Cultures and Probi AB.
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Table Content of Probiotics market:
Chapter 1 Methodology and Scope
1.1 Research Methodology
1.1.1 Initial data exploration
1.1.2 Statistical modeling and forecast
1.1.3 Industry insights and validation
1.2 Data Sources
Chapter 2 Executive Summary
2.1 Probiotics industry 3600 synopsis, 2012 - 2023
2.1.1 Business trends
2.1.2 Application trends
2.1.3 Regional trends
Chapter 3 Probiotics Industry Insights
3.1. Industry segmentation
3.2. Industry Size and forecast, 2012 - 2023
3.3. Industry ecosystem analysis
3.3.1 Vendor landscape
3.4. Industry Impact forces
3.4.1. Growth drivers
220.127.116.11 Functional food market growth
18.104.22.168 Increased health concerns
3.4.2. Industry pitfalls & challenges
22.214.171.124 Standardization issues
126.96.36.199 Lack of awareness
3.5. Growth potential analysis
3.6. Porter's analysis
3.7. Company market share analysis, 2015
3.8. PESTEL analysis
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