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The Global Probiotic Market is expected to grow with the CAGR of 7.0% during 2016-2022. The total revenue size of the global probiotic market is $38 billion in the year 2016. And it is expected to grow up to $65 billion by the year 2022. The global probiotic market has been drive by the factors such as food and beverages market, diet and supplementary market, animal feed products etc. The ability of the probiotic products to cure the gut related disorders are also the major reason for the growth of the global probiotic market. Probiotic products are used for the treatment of the various diseases like bowel function, intestines, digestion. Probiotics are also act against the pathogens in food poisoning. These are some major driving factors that are fueling the growth of the global probiotic market.
Probiotic product’s major applications are food and beverages industries, diet and supplementary industries. Food and beverages are the dominating industries in terms of usage of the probiotic products. Increasing penetration of the probiotic products in the dairy products are expected to increase the demand of the food and beverages market. Food and beverages market is the largest segmented of the probiotic products and cover up to 80% revenue of overall probiotic market in year 2016. The applications of the probiotics products are the food and beverages market are cereals, dairy products, non-dairy products, fermented meat products etc. human probiotic products has dominated the demand of the market in the year 2016. Growing concern of the people towards the health and the development of the more effective probiotics are expected to drive the growth of the global probiotics growth market in the coming years. Increasing demand in the leather, wool and meat market are fueling the growth of the animal probiotics. Because of these major applications global probiotic market are indicating good prospects of the growth in the future.
The increasing trend of usage of the probiotic product in the treatment of the gut related disorders has increase the growth of the global probiotic products market. However, the lack of the standardization of the probiotic products has hindered the growth of the global probiotic product market. With the ban of antibiotics in the animal feeds and increasing application of the probiotics growth are looking good for the global market.
Key players of the probiotics products are segmented into North America, Europe, Asia pacific, Latin America, middle east Asia, North America region holds the largest market share in the global probiotic product market followed by Asia pacific. The probiotic market of North American region is majorly driven by the United States. United States probiotic product market is forecasted to grow with the 6.5% CAGR by the year 2022. Revenue of United States probiotic market is forecasted to be 6.3 billion by the year 2022. Asia pacific market is one of the key factors of the growth of global probiotic market. Increasing demand of the probiotic products in the developing countries like India and China is driving the growth of the market. India China and Japan are major players in the Asia Pacific market. The overall revenue of the India, Japan and China are forecasted to be of the $14 billion by the year 2022. Latin America is also showing good prospects of growth in the global probiotic products market. Brazil is the key player in the Latin America. Brazil is expected to grow the revenue of $68 million by the year 2022. European market also plays vital role in the global probiotic markets Increasing concern of people towards the health and increase in the disposable income are deriving the growth in the Middle East Asia market. To sum up all, It can be concluded that the overall global probiotic market is having great prospects of growth in the future.
The global probiotics market is driven by the existence of some the prominent player in the market such as danone group, yakult honisha co ltd, nestle, Chr. Hansen holding a/s, Arla foods Inc. danisco, general mills inc, probi AB, Nebraska cultures, mother diary fruit and vegetables inc etc. Acquisitions, mergers, expansions, joint ventures and product development are the key strategies adopted by the market players to sustain in the market. In June ,2016 Probi AB has acquired the US probiotic players Neutraceutix in order to enter in the US probiotic market to increase the customer base. Continuous innovation in the product is also of the strategies used by the market players in global probiotic market.
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