According to a new report published by FastMR titled, “Probiotic Ingredients Market by Source, Application, and End-Use: Global Opportunity Analysis and Industry Forecast, 2016–2027,” the global probiotic ingredients market was estimated at around USD 2.1 billion in 2019 and is expected to grow with the CAGR of 6.5% during forecast period 2020-2027. Rising popularity of the product as an effective medium to boost immune system is likely to positively influence market growth over the forecast period.
Probiotic are microorganism which assists in providing healthful effects on host body through intricate balance of gastrointestinal microbiota. The use of the product started in mid nineteenth century and continue to this date with enhanced results. The probiotic strain in human body is administered through pharmaceutical application and via food. The hectic work lifestyle has pushed it's growth in form of tablets or capsules over the last one decade. The superior products offered in the market are known to assist in improving immune system of an individual. The factors related to improving health is likely to play a key role in promoting the market growth over the forecast period.
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The product has widely gained prominence in animal feed industry owing to its unique properties and steady results. The animal feeds are modified with probiotic to enable easy conversion of feed into the digestive system of an animal. This has resulted in enhanced popularity of the product and reduced usage of antibiotics medicines of animals. The segment of animal feed is likely to positively influence the market growth over the forecast period.
Asia Pacific region is expected to remain the largest regional market. The region is observing riding cases related to health issues which prompted the consumption of probiotic in form of capsules and tablets. Regional countries such as India and China are likely to present steady opportunities over the coming years.
Key vendors of the industry are Danisco A/S, Lallemand Inc., Chr. Hansen Holding A/S, Danone Inc., BioGaia AB, Biocodex, Inc., Sabinsa Corporation, Ganeden, Inc. and Probiotical S.p.A. The market participants are expanding their distribution network to tap regional markets and enhance their market share.
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