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Global Probiotics Market to Grow at a CAGR of 7.8% During 2021-2026, Driven by the Growing Demand for Immunity Boosting Products

According to a new report by EMR titled, ‘Global Probiotics Market Report and Forecast 2021-2026’, the market attained a value of nearly USD 55.6 billion in 2020. The industry is further expected to grow at a CAGR of 7.8% in the forecast period of 2021-2026 to reach a value of about USD 87.3 billion by 2026.

The COVID-19 pandemic has caused a shift in consumer consumption patterns, affecting the diet of people. Instead of junk or processed foods, most consumers are now preferring products with a high nutritional value. People in the United States are choosing nutrient boosters to keep themselves immune and strong, which is causing a surge in probiotic sales. Earlier, during the pandemic, the retail stores and pharmacies stockpiled probiotics in a variety of forms due to manic buying of probiotics to keep oneself immune. Fear of infection also resulted in the adoption of a healthy lifestyle, which increased the demand for probiotics.

Due to the sheer growing popularity of probiotic functional foods and beverages among consumers, the food and beverage segment is expected to lead the probiotics industry during the forecast period. The probiotics industry is being driven by factors such as consumer awareness, trust in their efficacy, and safety. The food and beverage industry generates the most revenue across all regions. Consumers are now taking a proactive approach to prevent chronic disease.

In May 2021, Nestlé (OTCMKTS: NSRGY) introduced NAN CARE, a new probiotic supplement line, created specifically for Australian parents to help support their babies' and toddlers' growing immune and digestive systems. In December 2020, Danone S.A (EPA: BN) in China launched a range of probiotics to prevent mastitis in breastfeeding mothers.  Such innovations in the industry are expected to boost the market growth over the forecast period.

Market Analysis by Product, Ingredient, End-Use, Distribution Channel, and Region:

  • The market, on the basis of product, can be divided into probiotic food and beverages and probiotic dietary supplements.
  • Based on ingredients, the market is divided into bacteria and yeast.
  • Based on the end-use, the market segmentation includes human probiotics and animal probiotics.
  • The significant distribution channels in the market are hypermarkets/supermarkets, pharmacies/drug stores, speciality stores, and online stores, among others.
  • The regional markets for probiotics include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The market growth for probiotics has been highly influenced by the coronavirus outbreak, which pushed the demand for immunity boosting food products, such as probiotics.
  • Further, the growing awareness regarding the various health benefits of consuming the product via social media platforms or advertisements on various platforms has propelled the industry growth.
  • The market is also accelerating due to the growing disposable incomes and urbanisation.
  • Various innovations in the market regarding the flavour, taste, and texture enhancement of probiotics has been boosting the market growth.

Key Offerings of the Report:

  • The EMR report gives an overview of the global probiotics market for the periods (2016-2020) and (2021-2026).
  • The report also offers the historical (2016-2020) and forecast (2021-2026) markets for the  products, ingredients, end uses, distribution channels, and regions of probiotics.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global market for probiotics are Arla Foods amba, BioGaia AB, Chr. Hansen Holding A/S, Danone S.A., and Nestlé S.A., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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