Global Probiotics Market is anticipated to reach 61.77 billion by 2022 with Asia-Pacific accounting for Majority Market Share.
Hyderabad, India -- (SBWIRE) -- 01/22/2018 -- According to a new market research report "Probiotics Market by Bacteria type (streptococcus, lactobacillus, yeast and others) by End use (animal and human probiotics) by Application (animal feed, food & beverages- (Dairy Products, Non-Dairy Products, Cereals, Baked Foods, Fermented Meat Products and Dry Food Probiotics) and dietary supplements- (Food Supplements, Nutritional Supplements, Speciality Nutrients and Infant Formula)- Global Forecast to 2022", published by MarketDataForecast™, the market is expected to reach USD 61.77 billion by 2022 from USD 45.66 billion in 2017, at a CAGR of 6.23%. Factors driving the growth of this market include the increasing accessibility, growing geriatric populace and cost effectiveness of the Probiotics owing to their higher portability and rapid technological innovation.
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The increasing awareness about the health benefits of Probiotics particularly in their ability to cure lifestyle diseases is the major opportunity for the market in the near future. Increasing frequency of digestive ailments due to stress and unhealthy diets and the consumption of probiotics in curing them is also a major driver for market growth.
The animal probiotics are estimated to account for the largest market share in 2017
Based on end use the market is segmented into animal and human probiotics market. Factors driving the growth of this segment include the increasing awareness among the populace about the correct application and consumption of prebiotics.
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The animal feed segment is expected to dominate the market in 2017
By Application, the market is segmented into animal feed, food & beverages (Dairy Products, Non-Dairy Products, Cereals, Baked Foods, Fermented Meat Products and Dry Food Probiotics) and dietary supplements (Food Supplements, Nutritional Supplements, Speciality Nutrients and Infant Formula). Nutritional Supplements segment demonstrate to be the most accepted ingredients with the highest probable growth rate while functional beverages segment is attracting the health-conscious people.
By the type of bacteria, the market is segmented into streptococcus, lactobacillus, yeast and others.
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Asia Pacific is estimated to command the largest share of the market
Based on region, the Probiotics Market is segmented into North America, Asia Pacific, Latin America, Europe, and Africa & Middle-East. Asia Pacific accounts for the largest share of the global Probiotics market, followed by Europe. Factors such as increase in the number of products being commercialized and expansion in curing applications of bioactive foods, are driving the market around the globe.
Key players in the Probiotics Market include General mills, China-Biotics, Yakult Honsha Co. Ltd., Mother dairy, Nestle S.A, PROBI AB, E.I. du Pont de Nemours and company, Chr. Hansen, Lifeway foods, Groupe Danone S.A. and many others.
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