Market Research Report
Probiotic Ingredients Market by Application (Functional Foods & Beverages, Pharmaceuticals, and Animal Nutrition), Source (Bacteria and Yeast), Form (Dry and Liquid), End User (Human and Animal), and Region - Global Forecast to 2023
|Published by||MarketsandMarkets||Product code||759861|
|Published||Content info||154 Pages
Delivery time: 1-2 business days
|Probiotic Ingredients Market by Application (Functional Foods & Beverages, Pharmaceuticals, and Animal Nutrition), Source (Bacteria and Yeast), Form (Dry and Liquid), End User (Human and Animal), and Region - Global Forecast to 2023|
|Published: December 18, 2018||Content info: 154 Pages||
The global probiotic ingredients market was valued at USD 268 million in 2018 and is projected to reach USD 402 million by 2023, at a CAGR of 8.5% from 2018 to 2023. The market is driven by factors such as the health benefits associated with probiotic-fortified foods, the increasing popularity of probiotic dietary supplements, participation of government bodies in the R&D of probiotics, and increasing global demand for superior-quality feed products. Regulations on the maximum quantity of probiotics that can be added to the feed, processing methods, labeling, packaging, and storage conditions are projected to inhibit the growth of the probiotics market for feed.
Based on form, the probiotic ingredients market is segmented into dry and liquid. The liquid segment records the highest CAGR as it is relatively cheap in terms of storage and transportation. Also, the dry form utilizes methods of freeze-drying and freezing, which despite being efficient, led to higher transportation and energy consumption costs. Hence, manufacturers are focusing on experimenting with the liquid forms of probiotic ingredients for developing more equitable solutions.
The pharmaceutical segment is estimated to grow at the highest CAGR, as probiotic strains have multiple health benefits and are gaining commercial acceptance among manufacturers, pharmaceutical & drug developers, and end consumers. Probiotic strains are proven to treat and help to prevent several gastrointestinal diseases such as traveler's diarrhea, antibiotic-associated diarrhea, inflammatory bowel disease, lactose intolerance, irritable bowel syndrome, vaginal infections, rheumatoid arthritis, liver cirrhosis, and immune enhancement. Hence, there is a surge in demand for probiotic ingredients in the pharmaceuticals segment.
The demand for probiotic-formulated food products in North America has increased, with the growing number of product launches at the consumer level. In the dairy sector, the yogurt segment is projected to account for the largest segment with consumers also recognizing fermented products containing live microorganisms. In the US, more than half of the yogurt sold is formulated with probiotics. Factors influencing probiotic yogurt consumption include the development of new flavored yogurt by manufacturers, convenient one-shot packaging, and low prices. Thus, there is a strong demand for various bacterial as well as yeast strains from probiotic product manufacturers in this region.
The global probiotic ingredients market is segmented region-wise, with a detailed analysis of each region. These regions include North America, Europe, Asia Pacific, and RoW.
Others include:* sales managers, marketing managers, and product managers.
**RoW includes South America and the Middle East & Africa.
Leading players profiled in this report:
This report segments the probiotic ingredients market on the basis of application, source, form, end user, and region. In terms of insights, this research report focuses on various levels of analysis-competitive landscape, end-use analysis, and company profiles-which together comprise and discuss the basic views on the emerging & high-growth segments of the probiotic ingredients market, high-growth regions, countries, government initiatives, drivers, restraints, opportunities, and challenges.
*Details on Business overview, Products offered, Recent Developments, SWOT analysis, MNM view might not be captured in case of unlisted companies.