Probiotics Market Segmentation:
By Application (Food & Beverages, Dietary Supplements, Animal Feed) By End-Use (Human Probiotics, Animal Probiotics), By Region (North America, Asia Pacific, Europe, Central & South America, Middle East & Africa), Vendor Landscape, and Competitor Analysis
Market Insights:
Probiotics are microorganisms such as yeast & bacteria that aid humans and animals with intestinal microbial balance. To ensure proper functioning of the digestive system, these ingredients stimulate natural enzymes and juices in the body, which can be administered through supplements.
They help in maintaining immunity and protecting proteins & lipids from oxidative destruction. They are used to treat different diseases such as those concerning bowel function, intestines, gastrointestinal tracts, digestion, and can be helpful in the case of food poisoning.
These are sold in forms of tablets, capsules, gel, and powder. The increasing consumer preference for natural products is helping the growth of this industry. Consumer awareness towards animal health and quality meat is also expected to influence the market positively over the forecast period.
Application Insights:
Food & beverage segment accounted for more than 80% of the market share in 2016. These products are used in dairy products, baked food, cereals, fermented meat, and dry food.
Probiotic dietary supplements are produced by extracting various strains to prevent or treat diseases related to digestion and other bowel functions. This segment is anticipated to benefit due to customised production of supplements for infants which can be dissolved in milk.
The shelf life of feed products is enhanced by the help of dry probiotic ingredients which results in lower storage cost for animal feed manufacturers. The poultry segment captures the largest share in the animal feed segment owing to the large demand for poultry meat across the world.
End-Use Insights:
Human probiotics accounted for almost 90% of the revenue in 2016. The increasing rate of obesity and digestive tract disorders among other issues has led to increased demand for such products. Human usage of probiotics trends has also been rising due to extensive marketing and strong distribution network.
Increasing demand for quality meat, wool, and other animal products is expected to increase consumption of animal probiotics. The poultry probiotics market is estimated to grow at a high CAGR over the forecast period.
Regional Insights:
In the Asia Pacific region, China and Japan are expected to grow at the fastest CAGR over the forecast period. The growth in Japan is associated to the large presence of geriatric and health-conscious population. Rising birth rate in India has given the market opportunities to innovative products for infants.
The U.S. is likely to experience high demand owing to the growing awareness about health supplements and the importance of prevalent healthcare facilities. Dietary supplementary is predominant in the UK and Germany due to the rising concern about obesity, diabetes, and digestive disorders.
Competitor Analysis:
Huge amount of R&D is expected from the companies due to the increasing need for innovation and personalizing of each product. Growing health concern is helping the industry stay competitive and has enabled quality production. New product launches helps companies enhance their market presence over the coming years.
Conferences held by International Food Information Council (IFIC) have led to increased awareness about the importance of these products. Key players operating in this market are BioGaia AB, Chr. Hansen Holding A/S, Yakult Honsha Co. Ltd., Danone, Probi AB, Inc., Nestle S.A., Ganeden, Inc., Lifeway Foods, E. I. du Pont de Nemours and Company, and Protexin.
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