Probiotics Market is Anticipated to Witness Considerable Growth by 2024

The global probiotics market was estimated at over USD 32 billion in 2015. Probiotics are living microorganisms enhance the immune system and help in various urological intestinal disorders.

Prebiotics provide health benefits beyond the traditional nutritional function therefore, they are considered as functional foods. The growth of the functional food industry is expected to drive the market in the coming years.

The market is driven by the growing popularity of probiotic-based foods and beverages among the customers. Poor diet, stress, and age are the reasons which are responsible for reduced resistance to infections and digestive ailments.  Consumption of probiotics containing food helps in dipping these conditions. Probiotics food is significantly gaining the position as a preventive medicine, with globally raising healthcare cost performing like a major stimulant to the industry’s growing popularity. The minor glitch witnessed during the economic recession about the H1N1 virus acted as a catalyst to boost the growth of this segment.

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Key Players:
The global probiotic market is extremely competitive, and companies compete based on advancement in product and application, product segregation and health benefits of the product. The key player in the market includes Yakult, Danisco, NestlA, BioGaia, Probi, Danone, BioCareCopeHagen and Deerland. To grow, research and development play a crucial role in shaping the industry.

On the basis of applications the market is divided into dietary supplements, food & beverages, and animal feed. Food & beverages accounted for more than 80% of the total market revenue in 2015. This sector consists of bakery, breakfast cereals, dairy, fermented meat, fats & oils, fish & eggs, and soy products.

Dietary supplement demand is likely to witness the fastest growth during the forecast period. These supplements are commercially found in forms of capsules, powders, and tablets.

End-users include human probiotics and animal probiotics. Human probiotics accounted for over 90% of the total market in 2015. An increase in the standard of living and disposable income in LMEA (Latin America, the Middle East, & Africa) and Asia Pacific can impel market growth in the coming years.

Animal feed probiotics is anticipated to grow at a robustly till in the near future. Growing concerns about animal health due to the growth in the meat consumption and recent animal disease outbreaks are key factors that are anticipated to encourage global animal probiotics market.

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