Pune, Maharashtra Apr 30, 2021 (Issuewire.com) - The Probiotics Market is expected to reach $75.9 billion by 2027, at a CAGR of 5.6% during the forecast period of 2020 to 2027. Growing consumer awareness regarding the health benefits of probiotics, increasing use of probiotics as an alternative to antibiotics, and growing research on probiotics are the key factors driving the growth of the probiotics market. Moreover, the growing use of probiotics for children and e-commerce growth is expected to create lucrative opportunities for players operating in this market.
Recent Developments:
- In June 2018, Chr. Hansen expanded its product strain library for the development of next-generation probiotics.
- In August 2017, DuPont expanded its probiotic facility in Madison, Wisconsin, US. The company made an investment of USD 10 million. The motive behind the expansion was to further expand its presence in the probiotics market.
The probiotics market study presents historical market data in terms of value (2018 and 2019), estimated current data (2020), and forecasts for 2027. The market is segmented based on strain, product type, form, sales channel, end-user, and geography. The study also evaluates industry competitors and analyses the market at a country level.
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Based on strain, the probiotics market is mainly segmented into bacteria and yeast. The bacteria strain products segment is expected to command the dominant share of the overall probiotics market in 2020. The dominant position of this segment is mainly attributed to the growing use of bacteria strain in a wide variety of commercial dairy products, including sour and fresh milk, yogurt, and cheese.
Based on the product type, the probiotics market is mainly segmented into functional food & beverages, medical & dietary supplements, and animal feed. The probiotic medical & dietary supplements segment is expected to grow at the highest CAGR during the forecast period.
Based on form, the probiotics market is mainly divided into liquid and dry. In 2020, the liquid form segment is expected to command the largest share of the probiotics market. The large share of this market is mainly attributed to the growing use of liquid probiotics due to variations in liquid supplements and probiotic-enriched drinks. Also, liquid probiotics are convenient and easy to consume for children and the elderly who prefer swallowing pills.
Based on the sales channel, the probiotics market is segmented into offline and online sales. The online sales segment is expected to grow at the highest CAGR during the forecast period.
Based on end-user, the probiotics market is segmented into humans and animals. In 2020, the humans segment is expected to command the largest share of the probiotics market.
Segments Covered in the Report
This report forecasts revenue growth at the global, regional, and country-level and provides an analysis of the latest industry trends in each of the sub-segments from 2014 to 2025. For this study, Grand View Research has segmented the global probiotics market report based on product, ingredient, end-use, distribution channel, and region:
Product Outlook (Revenue, USD Million, 2014 - 2025)
- Probiotic Food & Beverages
- Dairy
- Non-dairy
- Cereals
- Baked Food
- Fermented Meat
- Dry Food
- Probiotic Dietary Supplements
- Food Supplements
- Nutritional Supplements
- Specialty Supplements
- Infant Formula
- Animal feed Probiotics
Ingredient Outlook (Revenue, USD Million, 2014 - 2025)
- Bacteria
- Yeast
End-Use Outlook (Revenue, USD Million, 2014 - 2025)
- Human Probiotics
- Animal Probiotics
Distribution Channel Outlook (Revenue, Million, 2014 - 2025)
- Hypermarkets/Supermarkets
- Pharmacies/Drugstores
- Specialty Stores
- Online Stores
Regional Outlook (Revenue, USD Million, 2014 - 2025)
- North America
- The U.S.
- Canada
- Mexico
- Europe
- Germany
- K.
- France
- Asia Pacific
- China
- Japan
- India
- Central & South America
- Brazil
- Middle East & Africa
- Saudi Arabia
Impact of COVID-19 on the Probiotics Market
The global impacts of COVID-19 are already starting to be felt and will significantly affect the probiotics market in 2020. The health officials have not determined the exact cause of COVID-19, which has sickened more than 109,206,497 people and killed 2,407,469, as of 18 February 2021 (Source: European Centre for Disease Prevention and Control). Since the COVID-19 virus outbreak in December 2019, the disease has spread to almost 100 countries worldwide, with the World Health Organization declaring it a public health emergency.
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Frequently Asked Questions About This Report
- How big is the probiotics market?
- What is the probiotics market growth?
- Which segment accounted for the largest probiotics market share?
- Who are the key players in the probiotics market?
- What are the factors driving the probiotics market?
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