The Global Probiotics Market size is expected to reach $73.8 billion by 2024, rising at a market growth of 7.7% CAGR during the forecast period. The health benefits of probiotics and increased consumer perception of the same are expected to push industry growth over the next several years
Probiotics are microorganisms, like bacteria and yeast, which benefit humans and animals by retaining an intestinal microbial balance. Probiotic ingredients induce natural digestive juices and enzymes in the body to ensure adequate functioning of the digestive system and may be administered through food or as supplements. Furthermore, probiotics preserve healthy organisms from harmful counterparts. Probiotic products are now used to diagnose mental illness and to treat gastrointestinal problems and neurological disorders. They also strengthen the body’s immune system, protect proteins and lipids from oxidative destruction, and reduce body pathogens. Probiotic ingredients are sold as capsules, tablets, powders and gel.
Based on Ingredient, the market is segmented into Bacteria and Yeast. Based on Form, the market is segmented into Liquid and Dry. Based on End User, the market is segmented into Human and Animal. Based on Application, the market is segmented into Food & Beverages, Dietary Supplements and Animal Feed. Based on application, the food & beverage segment remained dominant among the probiotics market during the forecast period due to the increasing popularity of probiotic functional foods & beverages among consumers. Awareness, faith in their effectiveness, and safety are some of the factors that drive the probiotics market. The food & beverage segment is the biggest revenue-earning market along all regions. Food & Beverages application segment is further bifurcated into Dairy Products, Non-Dairy Beverages, Infant Formula, Cereals, and Others. Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Chr. Hansen Holding A/S, DowDuPont Inc., Yakult Honsha Co. Ltd., Nestle S.A., Danone SA, Probi, Arla Foods, Inc., Lallemand Inc., BioGaia AB, and Kerry.