The Global Market for Probiotics is Projected to Exceed US$73 Billion by 2024

Probiotics’ Potential in Harnessing the Huge Potential of the Human Microbiome in Transforming Health and Wellness Drives Demand, According to a New Report by Global Industry Analysts, Inc.

                                                                                                

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global Probiotics market. The global market for Probiotics is projected to exceed US$73 billion by 2024, driven by myriad health and wellness benefits offered by good bacteria-enriched probiotics against the backdrop of growing focus on preventive healthcare as a safe and effective strategy to improve health and well-being, .

Probiotics are advantageous to humans in terms of balancing flora of the digestive system and thereby improving digestion, preventing digestive disorders and enhancing immunity to combat diseases of the gut. Probiotics restore required balance of essential good bacteria post antibiotics consumption; promote digestive health; enhance vitamin B synthesis, support optimum body absorption of calcium, copper, iron and magnesium; promote healthy immune system, facilitate proper dairy food digestion and reduce the risk of cancer, infections and dental caries. They also help address diseases or conditions such as vaginal infections, skin infections, digestive tract infections, and diarrhea, among others, and help improve food intake and help maintain healthy body weight. Effectiveness of probiotics in preventing and treating multiple health conditions including but not limited to lactose digestion, lipid metabolism, oxalate metabolism, inflammatory bowel diseases (IBD), ulcerative colitis, irritable bowel syndrome (IBS), eczema, atopic dermatitis, allergic rhinitis, asthma, necrotizing enterocolitis (infants), and helicobacter pylori, among others, represent the primary factor for the strong evolution of the market and the continued popularity of probiotics in recent years.

Increasing healthcare costs; changing demands of aging consumers that prefer preventive therapies for chronic diseases, personalized medical care, and practical solutions for various age-related concerns; along with the unabated interest in healthy living, preventive healthcare and natural therapies will continue to drive market growth in the coming years. Robust demand for probiotic dairy products, particularly yogurt, supported by the intensifying gut and digestive health trend worldwide, growing popularity of functional foods and beverages, promising non-dairy applications of probiotics, myriad benefits offered by probiotics in supporting child and infant health, and growing prominence of probiotics in weight management are also expected to benefit market expansion in the coming years. Growing popularity of probiotic professional skincare range, where probiotics are touted to minimize infections and inflammations in the short-term, and prevent the occurrence of wrinkles in the long run, is also expected to aid market growth. Smart probiotics, which represent next generation genetically-modified microbes, intended to target desirable therapeutic capabilities to treat a medical condition or restore depleted microbiota, offer immense market growth potential in the long run.

As stated by the new market research report on Probiotics, Japan, Europe and the United States represent major markets worldwide. Aging population, presence of leading probiotic manufacturers, high spending power of consumers, focus on preventive healthcare, the desire to stay healthy and maintain active lifestyles as well as the general perception of probiotics as being safe for consumption represent key growth drivers in these markets. Asia-Pacific represents the fastest growing market with a CAGR of 11.8% over the analysis period. Expanding middle class population with high disposable incomes, low per capita consumption of probiotics, aggressive retail marketing, Westernization of food habits, and robust production and consumption of functional foods and beverages represent key growth drivers in the region.

Key players in the market include AMUL, BioGaia AB, Bright Food (Group) Co., Ltd., China-Biotics Inc., Chobani LLC, Chr. Hansen Holding A/S, Groupe Danone SA, DuPont Nutrition & Health, Garden of Life LLC, General Mills, Hangzhou Wahaha Group, Kirkman Group, Institut Rosell-Lallemand Inc., Meiji Holdings Co., Ltd., Natren Inc., Nestlé S.A., Probi AB, Renew Life, Seven Seas Ltd., Valio Ltd., and Yakult Honsha Co., Ltd., among others.

The research report titled “Probiotics: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, drivers, mergers, acquisitions and other strategic industry activities of major market participants. The report provides market estimates and projections for major geographic markets including the United States, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, and Rest of Europe), Asia-Pacific (China, India, and Rest of Asia-Pacific), the Middle East & Africa, and Latin America (Brazil, and Rest of Latin America). Major segments analyzed in the report include Food & Beverage, Dietary Supplements, and Animal Feed.

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