(Entertainment-NewsWire.com, October 22, 2019 ) The probiotics market is estimated at USD 49.4 Billion in 2018 and projected to grow at a CAGR of 7.0%, to reach USD 69.3 billion by 2023. The growth of the probiotics market is driven by factors such as health benefits associated with probiotic-fortified foods and technological advancements in probiotic products. Key drivers for the market’s growth are the increasing use of high nutritional content in foods due to increasing consumer awareness about healthy diets. Asian countries, particularly in Japan, the increase in the aging population is a lucrative opportunity for the sale of probiotic supplements in the region. One of the major restraints in the growth of the probiotics market is the international quality standards, regulations for probiotic products, and the high R&D costs for developing new probiotic strains.
Yeast is projected to be the fastest growing ingredients of probiotics
Based on ingredients, the yeast segment is projected to be the fastest-growing during the forecast period. The increasing demand for products incorporating Saccharomyces boulardii, a unique tropical yeast with several beneficial, effects on human intestinal health positively. Increasing awareness about the health benefits of probiotics has driven the consumption of probiotic yogurts in developing countries such as China, Brazil, and India. In Japan, a variety of probiotic-containing products are available in supermarkets, ranging from fortified drinks to candies containing strains from the Lactobacillus and Bifidobacterium genera.
The food & beverages application segment for probiotics is estimated to account for the largest share in 2018
Based on application, the food & beverages segment is estimated to account for the largest share in the probiotics market in 2018. The products under this category include foods & beverages that offer distinct health benefits beyond fundamental nutrition, due to their specific ingredients. The food & beverages segment is the largest revenue-earning market across regions.
High growth is projected in the Asia Pacific probiotics market
The Asia Pacific is projected to be the fastest-growing market for the period considered for this study, due to the rising in disposable income and the increase in demand for nutritional food products, along with the growing technology base, leading to the increased demand for probiotics in the region. The rapid economic growth in countries such as China, Japan, Brazil, and Argentina has led to a significant increase in the disposable incomes of livestock owners. This, in turn, is driving the demand for probiotic-based food, making the Asia Pacific the fastest-growing market globally.
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