Probiotics Market is expected to garner $57.4 billion by 2022, registering a CAGR of 7.7% during the forecast period 2016-2022.
Probiotics are microorganisms, such as bacteria and yeast that benefit humans and animals by maintaining intestinal microbial balance. Probiotic ingredients stimulate natural digestive juices and enzymes in the body to ensure proper functioning of the digestive system, and can be administered through food or in the form of supplements. In addition, probiotics protect healthy organisms from harmful counterparts. Nowadays, probiotic products are employed to diagnose mental illness, and treat digestive problems and neurological disorders. Moreover, they strengthen the human immune system, protect proteins & lipids from oxidative destruction, and reduce body pathogens. Probiotic ingredients are sold in the form of capsules, tablets, powders, and gel.
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The technological advancements, rapid urbanization, and increase in consumer preference for natural products and rise in standards of living are few key reasons that foster probiotics market. Growth in health concerns in both humans and animals also drives the market.
Probiotics market is fragmented in nature with the presence of few global players. Players such as Yakult Honsha Co., Ltd., Danone, Nestle S.A., Protexin and Biogaia AB enjoy significant share in the market. They invest heavily on research and development for product innovation, improving process technology and strengthening the distribution channel to improve their market presence. For instance, Yakult Honsha Co., Ltd., E. I. du Pont de Nemours and Company and Ganeden Inc. are some of the companies, which focus on strong distribution networks. Recently in March 2016, Probi signed an agreement with Probac, a Swedish biotech company to gain two probiotic strains to be used in food (dairy products). The agreement with Probac would expand Probi ABs functional food business area. In 2015, Yakult Honsha Co., Ltd. expanded its fermented milk drink production plant. The production will be started by Wuxi Yakult Co., Ltd.
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Key Findings Of Probiotics Market:
- Probiotics market is anticipated to witness steady growth during the forecast period because of growth in demand for functional foods
- Bacteria derived probiotics would continue to dominate the market due to their highest application in food and beverages
- Asia-Pacific was estimated to be the highest revenue-generating region in the probiotics market in 2014, due to high demand for natural probiotic based food and dairy products
- Human probiotics was the largest contributing end user for probiotics market in 2014 and is forecasted to dominate the market during the analysis period
- Market players focus to improve processing and storage technologies to take competitive edge on the rivals.
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