Global Pandemic is likely to Boost Market Growth
Emergence of global pandemic has presented a huge crisis for the modern world with rising number of victims and death toll around the world. The virus affects the respiratory system of the body and chokes the lungs leading to a death of an individual. The probiotics assists in prevention of diseases related to bacterial vaginosis, respiratory infections, and others.
Many global health experts believe that the disease is likely to remain for a long time and human world should prepare for possible way to strengthen individuals immune system to fight off this global pandemic. The use of the product in form of liquids, capsules, powders, and tablets are likely to assist in fighting off this deadly virus of corona. Owing to the health benefits offered by the use of product is likely to drive its demand over the near future.
Probiotic Dietary Supplement Driving Market Growth
Use of probiotic dietary supplement has observed swift growth over the last few years. The product is widely used across the globe owing to its numerous health benefits. The popularity of the product especially in working class population has witnessed greater penetration owing to hectic lifestyle coupled with abnormal eating habits. The growth of the probation dietary supplement is projected to remain a key driver in market growth over the coming years.
A dietary supplement of probiotic ingredient is packed inside various forms such as liquids, powders, tablets, and capsules. These dosages are administered through a highly regulated process wherein a resistant probiotic microorganism in high volume enables precise stability and dosing. The production of these forms is similar to medicinal products however many steps are skipped as they are not required. The product segment is likely to witness steady growth rates among this global pandemic situation leading to stable market dynamics.
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On the basis of source, market is bifurcated into bacteria, spore formers, and yeast. Within this segment, bacteria is likely to dominate the market share in terms of revenue over the forecast period. The bacteria types such as lactobacilli, streptococcus, bifidobacterum, and other genes are commonly employed for the sourcing of probiotics. The expansion in awareness related to the usage of bacteria for promoting health has positively influenced the segments growth.
On the basis of application, market is segmented into food & beverages, dietary supplements, and animal feed. Within this application segment, food & beverages segment is likely to dominate the market share over the forecast period. The healthy growth in the intake of probiotic yogurts has widely pushed the segments growth over the last few years.
The market for dietary supplements has also observed steady growth over the last few years especially in developed economies such as the U.S. and European countries. The hectic work style of the individuals in these aforementioned countries has pushed the inception of the product within this application. This application segment is also witnessing steady penetration in upcoming economies such as India and Brazil. Therefore, healthy growth prospect of probiotic dietary supplement in developed and developing economies is likely to play a key role in pushing segments growth.
On the basis of end-use, market is segmented into human probiotic and animal probiotic. Within this segment, human probiotic segment is likely to dominate the market share in terms of volume as well as volume. The rising focus towards health systems has pushed the inception of probiotic in main stream healthcare industry. In addition, use of the product in form of capsules and tablets has pushed its growth especially among working population.
Animal feeds are intensively modified to incorporate probiotics which enables easy translation of feed. This also assists in decreasing mortality rate and impart health benefits among animals. The segment is likely to observe swift growth owing to the aforementioned factors. The animal probiotic has emerged as an alternative to antibiotics which is likely to positively influence the segments market dynamics over the forecast period.
The 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 industry participants are focusing towards forming joint ventures with dairy companies in order to promote their market presence. Many participants are focusing on key regional markets such as India and China which have emerged as a primary consumption market for dairy products.
The probiotic ingredients are microorganisms which assists in the working of human internal system.
Global Probiotic Ingredient Market Segmentation
- Spore Formers
- Food & beverages
- Animal Feed