(Food-Beverage-News.Com, July 09, 2019 ) The report "Probiotics Market by Application (Functional Food & Beverages [Dairy Products, Non-dairy Beverages, Infant Formula, Cereals], Dietary Supplements, Feed), Ingredient (Bacteria, Yeast), Form (Dry, Liquid), End User, and Region – Global Forecast to 2023" The market for probiotics is estimated at USD 49.4 billion in 2018, and it is projected to grow at a CAGR of 7.0% from 2018 to 2023, to reach USD 69.3 billion by 2023.
The Asia Pacific is projected to account for the largest market size during the forecast period.
The Asia Pacific is a dominant region in the global probiotics market. Some factors that influence the market share include the high demand for functional foods and dairy products, the presence of major players in the regions, and awareness about the benefits of using probiotics. Top probiotic manufacturers such as Danone, Yakult Honsha, Nestlé, and Chr. Hansen together accounted for a share of more than one-third of the market. These companies have a strong presence in Europe and the Asia Pacific, and also have manufacturing facilities across these regions and a strong distribution network.
This report includes a study of marketing and development strategies along with the product portfolios of leading companies in the probiotics market. It includes profiles of leading companies such as Danone (France), Yakult Honsha (Japan), Nestlé (Switzerland), and Chr. Hansen (Denmark).
The food & beverage segment is projected to be the largest revenue contributor in the probiotics market during the forecast period.
The food & beverage segment is accounted to hold the largest share of the probiotics market in 2018. The global probiotics market is currently driven by the rising popularity of probiotic functional foods & beverages among consumers. Factors such as age, stress, and poor diet are responsible for digestive ailments, bloating, and reduced resistance to infections; consumption of probiotic-enhanced products helps to alleviate these conditions. These products contain live microorganisms (probiotics) that confer positive health effects on the host.
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