Fact-based market research, penetrating industry insights and validated forecasts to help you make better decisions for a stronger futureResearch Report on Probiotics Market Size, Share, Trends, Growth, Key Players, Overview and Forecasts – 2024
26 September 2018
The global probiotics market size is expected to reach USD 66.03 billion by 2024. Demand for probiotic foods and beverages and animal feed is expected to keep the market buoyant in the forthcoming years. As functional ingredients, probiotics are used in cheese, milk, juices, cereals, nutrition bars, and infant formula.
Within the probiotics food and beverages segment, dairy products command major share. Yoghurt and yogurt-based beverages are the most commonly consumed probiotic dairy products. On the other hand, demand for probiotic animal feed is expected to gain strength with rising need to enhance animal immunity and yield.
According to the National Institute of Allergy and Infectious Diseases (NIAID), prolonged consumption of probiotics containing Bifidobacterium and Lactobacillus strains helps in the treatment of cold and flu. Research studies have revealed that probiotics help cure ill health effects through mechanisms such as immunomodulation.
Probiotics help in treating diseases such as intestinal inflammation, urogenital infections, and diarrhea. There are reported cases of deaths due to intestinal inflammation and other Irritable Bowel Diseases (IBD), such as Crohn's disease and ulcerative colitis. As there is a high prevalence of functional and organic gastrointestinal (GI) diseases in U.S. and European countries, these markets have a relatively high penetration of probiotics products compared to Asia Pacific. According to a study publish in the Journal of Crohn's and Colitis in 2016, increased mortality due to Crohn’s disease and Ulcerative Colitis was observed in Finland. The rise in reported deaths was due to the inflammation of gut.
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Hectic work schedule and fluctuating diet patterns lead to various health problems such as constipation and ulcers. Changing lifestyle and increased consumption of sodium rich foods can cause gut infection. Probiotics help in restricting the growth of bad bacteria and enhancing immunity by improving gut health.
High prevalence of digestive disorders in U.S. and European countries have benefitted the demand in global probiotics market. Consumer inclination towards functional food and beverages is expected to increase the demand in near future. Also, rising awareness about effectiveness of probiotics in enhancing immunity is expected to benefit the global market. Countries such as China, Brazil, and India among others are making significant investments in probiotic products.
The global probiotics market is highly competitive. Companies operating in this market focus more on R&D activities to develop new products. Novel applications are developed by companies to strengthen their presence on global scale. Companies are also entering into partnerships with local players to increase their products penetration and geographical reach.
For instance, in September 2016, BioGaia signed an exclusive distributor agreement with Phillips Pharma Group for selling the rights of BioGaia ProTectis drops, tablets, and Oral Rehydration Solution (ORS) in Ghana, Nigeria, and Kenya. Besides, companies are focusing on building their brand image and raising awareness regarding probiotics usage in the Asia Pacific region.
Chr. Hansen Holding A/S is a prominent player that provides specialty ingredients for life science and food industries. The company produces probiotics under its food cultures and enzymes business division. Its probiotic products are used as ingredients in dietary supplements and food and beverages. The company is one of the leading suppliers of scientifically documented probiotic strains for dietary supplements and infant formula.
Some of the key companies in the market include Arla Foods, Inc.; BioGaia AB; Danone; Danisco A/S; General Mills, Inc.; I-Health Inc.; Lallemand Inc.; Lifeway Foods Inc.; and Mother Dairy Fruit & Vegetable Pvt. Ltd.
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