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(Wireless-NewsWire.Com, June 19, 2018 ) Global Probiotic Market is valued at USD 34.31 billion in the year 2017.The global Probiotic market is further estimated to grow at a CAGR of 7.25% from 2018 to reach USD 52.14 Billion by the year 2023.
Asia-Pacific region holds the highest market share in 2016 and North American market is considered as rapidly growing market in the estimated period. At country level, China, South Korea, Japan, and Australia & New Zealand holds the notable market share in 2016, owning to the rapid development and rising healthcare awareness.
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BioGaia AB (Sweden) (U.S), E. I. du Pont de Nemours and Company (U.S), Ganeden, Inc. (U.S), General Mills, Inc. (U.S), Mother Dairy Fruit & Vegetable Pvt. Ltd. (India), Nestle S.A (Switzerland), Yakult Honsha Co., Ltd. (Japan) are some of the key players in the Global Probiotic Market. Better global reach at operational level is the main reason the key players are holding substantial market share. Rising research and development expenses to satisfy the changing demands of end users, new product launches and organic growth strategies were few techniques adopted by various manufacturers in last 5 years.
Drivers
Rapidly Increasing probiotic benefits awareness
Growing need for Healthy lifestyle
Technological advancements for better probiotic products
Restraints
Government standards and regulations
Opportunity
Evolving demand and market in developed countries
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Rising Demand
On the basis of application, the probiotic market is segmented as Dietary supplements, Animal feed, Food & Beverages, where food and beverages segment hold the highest market share among other segments in 2017 because of technological advancements and increasing prevalence of probiotic products. On the other hand, human probiotics segment by end users for this market is expected to grow at the highest CAGR during the year 2018-2023.
Key Benefits for Stakeholders
Probiotic and raw material Manufacturers, Distributors and Retailers
Technology Standards Organizations, Forums, Alliances and Associations
End use industries
Regulatory bodies, Research and Consulting organization
By Form
Dry
Liquid
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By Application
Dietary supplements
Animal feed
Food & Beverage
By End Users
Human
Animal
By Region
North America
Europe
Asia-Pacific
RoW
Key Market Players
BioGaia AB (Sweden) (U.S)
E. I. du Pont de Nemours and Company (U.S)
Ganeden, Inc. (U.S)
General Mills, Inc. (U.S)
Mother Dairy Fruit & Vegetable Pvt. Ltd. (India)
Nestle S.A (Switzerland)
Yakult Honsha Co., Ltd. (Japan)
Danone (France)
Probiotics International (UK)
Probi (Sweden)
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