Probiotics Market Exhibits 7.3% CAGR, Demand for Dairy-based Probiotics Expected to Rise, says Fortune Business Insights
In order to establish a stronghold, these players are currently focusing on strengthening their distribution channels, besides diversifying the product portfolio. In addition to this, well establish players such as Yakult still embark on the traditional claims of their offerings.
Pune, India – April 30, 2019 /MarketersMedia/ —
Driven by changing dietary patterns, the consumption in global Probiotics Market is expected to rise. This, as per a report by Fortune Business Insights, will push the market at a CAGR of 7.3% between 2018 and 2025. The report is titled “Probiotics Market Size, Share and Global Trend By Microbial Genus (Lactobacillus, Bifiodobacterium, Yeast), Application (Functional Food and Beverage, Dietary Supplement Animal Feed), Distribution Channel (Supermarkets/Hypermarkets, Pharmacies/Health Stores, Convenience Stores, Online Retail) and Geography Forecast till 2025,” and is currently available for sale on the official website of Fortune Business Insights. The report predicts the global probiotics market to reach US$74.69 Bn by the end of 2025, as compared to US$ 42.55 Bn in 2018.
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Rising Incidence of Digestive Disorders Boosts Probiotics Sales Worldwide
The rising incidence of various digestive disorders is the key reason behind the increasing demand for probiotics foods. Most common health disorders are often related to various lifestyle factors. Increasing access to information has rendered conscientious consumers more knowledgeable than ever. Therefore, they are willingly embracing probiotics for improving their health. Against this backdrop, the report highlights increasing health awareness as a chief driver of the global probiotics market.
“Due to their high nutritional values, probiotics have evolved as supplements from functional foods space,” said a lead analyst at Fortune Business Insights. “They have also graduated as a topic of interest for researchers, resulting in the increasing investment towards research and development activities. This is bound to have a positive impact on the global probiotics market,” he added.
Demand for Dairy-based Probiotics Foods and Drinks to Surge
While fermented foods traditionally remained a fitting matrix, dairy-based options such as probiotics yoghurt currently hold dominance at a global level. Besides this, evolving regulatory framework is creating an environment conducive to the sales of various probiotics foods and drinks owing to their superior nutritional performance. The demand for probiotics supplements is especially high in developed regions.
The report finds North America as the most lucrative market for probiotics foods and drinks. The presence of a sophisticated retail infrastructure and high disposable income of consumers are supporting the expansion of the probiotics market in the region. In addition to this, the probiotics market in Asia Pacific is evolving at a rapid pace, with Japan and China accounting for the lion’s share of the regional sales. The report expects the demand for probiotics drinks and other types of probiotics supplements to remain high in India and other countries across Central and Southeast Asia through the forecast period.
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Furthermore, the demand for probiotics supplements is also expected to skyrocket in the region in response to the rising awareness about their nutritional offerings. The expanding middle class and their willingness to spend towards health and wellness will push growth in the probiotics market in Africa and South America.
Competition to Remain High Through Forecast Period
Besides identifying the key growth drivers and restraints, the report offers an executive-level blueprint of the competitive landscape in the global probiotics market. As per the study, the market is rendered fragmented due to the presence of several companies. It witnesses a strong presence of internally acclaimed players such as Yakult Honsha, Lallemand Inc., Danone S.A., DuPont USA, Nestlé S.A., and others. In order to establish a stronghold, these players are currently focusing on strengthening their distribution channels, besides diversifying the product portfolio. In addition to this, well establish players such as Yakult still embark on the traditional claims of their offerings. Spurred by strategies adopted by the leading companies, the global probiotics market is expected to witness a steady growth though the forecast period.
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