(Food-Beverage-News.Com, April 16, 2021 ) The report "Probiotic Ingredients Market by Application (Functional Foods & Beverages, Pharmaceuticals, and Animal Nutrition), Source (Bacteria and Yeast), Form (Dry and Liquid), End User (Human and Animal), and Region - Global Forecast to 2023", is estimated at USD 268 million in 2018 and is projected to reach USD 402 million by 2023, growing at a CAGR of 8.5% during the forecast period. The market is driven by factors such as the increasing popularity of probiotic dietary supplements and the participation of government bodies in the R&D of probiotics.
The bacteria segment, by source, accounts for the largest market size during the forecast period
The bacterial segment is projected to hold the larger market share as it offers various health benefits. The most commonly used strains in the manufacture of probiotic products are gram-positive bacteria, which belongs to the genus Bacillus and yeast strains that belong to the genus Saccharomyces. For instance, Lactobacillus acidophilus when consumed orally is able to prevent infections in the vagina and also aids in nutrient absorption, while Bifidobacterium infantis helps the host combat bloating, diarrhea, constipation, and ulcerative colitis.
The functional foods & beverages segment is estimated to account for the largest share, by application, in 2018
Based on application, the probiotic ingredients market is segmented into functional foods & beverages, pharmaceuticals, animal nutrition, and others, which include cosmetics and personal care. The functional foods & beverages segment is estimated to account for the largest share in 2018 as it is widely used in the manufacture of products such as cheese, yogurt, and other dairy products. The rising health concerns among consumers is driving the market for probiotics within this segment.
Asia Pacific is projected to account for the largest market share during the forecast period
The Asia Pacific region is projected to hold the largest market due to the natural predisposition among consumers in this region for taking supplements. China, India, and Japan are estimated to be the primary drivers of this market with China projecting its growth in the segment of infant formula within probiotics. There is also a growing awareness among the people in India and Japan about using alternatives such as probiotics for the treatment and prevention of lifestyle disorders. The probiotics are gaining popularity in the Asia Pacific market particularly in the animal nutrition segment due to the growing concerns about their health and productivity.
Key Industry Players in Probiotic Ingredients Market:
The major players in the probiotic ingredients market are Kerry (Ireland), DowDuPont (US), CHR. Hansen (Denmark), Biogaia (Sweden), Probi (Sweden),Glac Biotech (Taiwan), Bifodan (Denmark), Lallemand (Canada), UAS Laboratories (US), and Biena (US). Of these companies, CHR Hansen, DowDuPont, Lallemand and Kerry have held the largest market share of 70% in the probiotic ingredients market. These companies are focusing on agreements and product launches to establish themselves in the market.
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