The global probiotic market is expected to grow with the CAGR of 7.0% during the period 2016-2022. The total revenue size of the global probiotic market is $38 billion dollar in the year 2016. And it is expected to grow up to $65 billion by the year 2022. The global probiotic market is segmented on the basis of theEnd-users,application, and on the basis of the strain types. On the basis of the application market is segmented into dietary and supplementary market,animal feed products, food and beverages market etc. On the basis of the end-user the probiotic markets are segmented into human probiotic products, and animal probiotics products. On the basis of the types of strain market are segmented into streptococcus, bifid bacterium,lactobacillus, yeast, spore formers.
The global probiotic market has been driven by the factors such as the increasing usage of the probiotic product in the food and beverages industries, ability to cure gut related disorders, increasing health concern of the people, and increasing investment by the key players in R&D departments for continuous innovation. The treatment of the gut related disorders has increase the growth of the global probiotic products market. Usage of the probiotic products for the treatment of diseases like diarrhea, inflammation, and gastric diseases are main reason that probiotic products can be used as alternatives to pharmaceuticals products.. Food and beverages are also dominating industries in terms of usage of the probiotic products. Food and beverages market is the largest segmented of the probiotic products and cover up to 80% revenue of overall probiotic market in year 2016. Various key players of global probiotic market are adopting the strategic moves to maintain position in the global in food and beverages market. The rising demand of dairy products are the major factor which is increasing the demand for probiotic products in food and beverages market.
Key players of the probiotics products are segmented into North America, Europe, Asia pacific, Latin America, Middle East Asia. North America region holds the largest market share in the global probiotic product market followed by Asia pacific. The growth of the North America market is derived by the growth of US market. US market is estimated to reach $6.3 billion by the year 2022. Increasing demand of the probiotic products in the developing countries like India and China is driving the growth of the probiotic market in Asia Pacific region. Latin America is also showing good prospects of growth in the global probiotic products market. Increasing concern of people towards the health and increase in the disposable income are driving the growth in the Middle East Asia market.
The global probiotics market is driven by the existence of some the prominent player in the market such as: danone group, yakulthonisha co ltd, nestle, Chr. Hansen holding a/s, Arla foods Inc. danisco, general mills Inc, Probi AB, Nebraska cultures, mother diary fruit and vegetables inc etc. Acquisitions, mergers, expansions, joint ventures and product development are the key strategies adopted by the market players to sustain in the market.One of the major acquistions in market take place whenProbi AB has acquired the US probiotic players, Neutraceutix (June ,2016 ) in order to enter in the US probiotic market to increase the customer base.