Probiotics Market Revenue, Growth, Industry Analysis and Forecast by 2027
The global probiotics market size is expected to reach USD 94.48 billion by 2027 while exhibiting a CAGR of 7.9% between 2020 and 2027. This information is published by Fortune Business Insights in its report, titled "Probiotics Market, 2020-2027". The report further mentions that the market stood at USD 48.88 billion in 2019. The growing consumption of nutritional food among the health conscious section of the market is gaining popularity in recent years. For instance, the Nutrition Society of Malaysia has also introduced the Probiotics Education Program to educate consumers on the health benefits of these products.
List of Top 10 Key Players Profiled in the Probiotics Market:
Danone S.A. (Paris, France)
Lallemand Inc. (Canada)
Yakult Honsha (Japan)
Nestle S.A. (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, United States)
Evolve Biosystems, Inc. (Davis, California)
Market Segmentation
On the basis of microbial genus, the market is segmented into lactobacillus, bifidobacterium, and yeast. Based on drug class, the insulin segment held a market share of about 43.7% in 2018.
Based on application, the market is trifurcated into functional food and beverage, dietary supplement, and animal feed. On the basis of distribution channel, the market is segmented into supermarkets/hypermarkets, pharmacies/health stores, convenience stores, online retail, and others. Based on geography, the market is divided into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
Driving Factor
Rising Awareness of Product through Social Mediums to Surge Demand
The numerous health benefits of the product are augmenting the probiotics market growth. The increasing awareness and advertisement by prominent personalities are creating a demand in the market. Various athletes and yoga instructors are emphasizing the health benefits of nutraceuticals through social media as paid partnerships. Also, a considerable chunk of health-conscious vegan consumers prefers to get their nutrients from nutraceutical sources. The industry is also experiencing heavy investment in research and development for innovation. For example, in February 2020, Amorepacific Group inaugurated its novel green tea probiotics Research Centre for studying lactobacillus found in Jeju organic green tea.
Regional Insights
Rising Awareness of Health Benefits to Aid Growth in Asia Pacific
Asia-pacific is expected to hold the largest probiotics market share due to high consumption in China and Japan. The rising awareness of the health benefits of the product is garnering significant demand from the region. For instance, Yakult Honsha declared the company sales of 9,540 bottles of Yakult every day in Japan.
North America is anticipated to showcase considerable growth in the forthcoming years. This is due to the well-established food industry in the region. Moreover, a rising preference for a healthy diet owing to the prevalence of lifestyle diseases in the region is anticipated to incur product demand.
Browse In-depth Summary of This Research Insight:
https://www.fortunebusinessinsights.com/industry-reports/probiotics-market-100083 Probiotics Market Revenue, Growth, Industry Analysis and Forecast by 2027
The global probiotics market size is expected to reach USD 94.48 billion by 2027 while exhibiting a CAGR of 7.9% between 2020 and 2027. This information is published by Fortune Business Insights in its report, titled "Probiotics Market, 2020-2027". The report further mentions that the market stood at USD 48.88 billion in 2019. The growing consumption of nutritional food among the health conscious section of the market is gaining popularity in recent years. For instance, the Nutrition Society of Malaysia has also introduced the Probiotics Education Program to educate consumers on the health benefits of these products.
List of Top 10 Key Players Profiled in the Probiotics Market:
Danone S.A. (Paris, France)
Lallemand Inc. (Canada)
Yakult Honsha (Japan)
Nestle S.A. (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, United States)
Evolve Biosystems, Inc. (Davis, California)
Market Segmentation
On the basis of microbial genus, the market is segmented into lactobacillus, bifidobacterium, and yeast. Based on drug class, the insulin segment held a market share of about 43.7% in 2018.
Based on application, the market is trifurcated into functional food and beverage, dietary supplement, and animal feed. On the basis of distribution channel, the market is segmented into supermarkets/hypermarkets, pharmacies/health stores, convenience stores, online retail, and others. Based on geography, the market is divided into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
Driving Factor
Rising Awareness of Product through Social Mediums to Surge Demand
The numerous health benefits of the product are augmenting the probiotics market growth. The increasing awareness and advertisement by prominent personalities are creating a demand in the market. Various athletes and yoga instructors are emphasizing the health benefits of nutraceuticals through social media as paid partnerships. Also, a considerable chunk of health-conscious vegan consumers prefers to get their nutrients from nutraceutical sources. The industry is also experiencing heavy investment in research and development for innovation. For example, in February 2020, Amorepacific Group inaugurated its novel green tea probiotics Research Centre for studying lactobacillus found in Jeju organic green tea.
Regional Insights
Rising Awareness of Health Benefits to Aid Growth in Asia Pacific
Asia-pacific is expected to hold the largest probiotics market share due to high consumption in China and Japan. The rising awareness of the health benefits of the product is garnering significant demand from the region. For instance, Yakult Honsha declared the company sales of 9,540 bottles of Yakult every day in Japan.
North America is anticipated to showcase considerable growth in the forthcoming years. This is due to the well-established food industry in the region. Moreover, a rising preference for a healthy diet owing to the prevalence of lifestyle diseases in the region is anticipated to incur product demand.
Browse In-depth Summary of This Research Insight:
https://www.fortunebusinessinsights.com/industry-reports/probiotics-market-100083
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