The probiotics market is estimated to grow at USD 49.4 billion in 2018 and is projected to grow at a CAGR of 7.0% from 2018, to reach a value of USD 69.3 billion by 2023. The demand for probiotics in fortified foods is projected to remain high due to the increasing awareness about their benefits, and willingness of consumers to purchase premium products incorporated with probiotics. The global demand for probiotics is increasing significantly due to the growing awareness among customers about their direct relation to digestive health benefits, the rise in demand for nutritious food, and increase in demand for quality animal-based products. Probiotics are found as a supplement form or are used as components in food & beverages.

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Food & beverage segment is projected to be the largest segment in the probiotics market during the forecast period.

The food & beverage segment dominated the probiotics market, on the basis of application, during the forecast due to the rising popularity of probiotic functional foods & beverages among consumers. Awareness, faith in their efficacy, and safety are some of the factors driving the market of probiotics. The food & beverages segment is the largest revenue-earning market across regions. Consumers are now taking a proactive approach towards preventing chronic conditions. China and Japan are the two largest markets in the Asia Pacific, and the Japanese market is projected to reach its maturity level during the forecast period.

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The animal probiotics segment is projected to account for the fastest growth during the forecast period.

The animals segment is projected to record the fastest growth during the forecast. The ban on synthetic antimicrobial growth promoters (AGP’s) in Europe is a factor driving the probiotics market. The motive behind the ban was to curb the practice of using antibiotics, antimicrobials, and other drugs for promoting the growth of livestock and increasing the production of meat, milk, and other products.

The demand for liquid probiotics from the yogurt and beverage industries is projected to dominate the probiotics market

The demand for liquid probiotics has increased as compared to dry probiotics, due to its application in yogurt, which is the most popular source of probiotics. Other products that use liquid probiotics include kefir water, probiotic juices, and yogurt-based drinks, which are healthy options for daily supplementation. The Asia Pacific region is projected to be a key market for yogurt in the coming years. China stands a huge opportunity for both domestic and international companies to penetrate the yogurt market as the country consumes yogurt on a large scale.

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The bacteria segment is projected to dominate the probiotics market during the forecast period

The most widely consumed bacteria strains are Lactobacilli, Bifidobacteria and Streptococcus Thermophilusthermophilus, among others, which include Enterococcus, Bacillus, and Pediococcus. The primary benefit of incorporating scientifically-derived bacterial strains in probiotic foods is the balance in the host’s intestinal microbiota and the subsequent enhancement of the immune system. Lactobacilli are a genus within the lactic acid bacteria group, which have been proved to exhibit probiotic beneficial properties. Lactobacillus is used for skin disorders such as fever blisters, canker sores, eczema (allergic dermatitis), and acne. It is also used for high cholesterol, lactose intolerance, Lyme disease, hives, and to boost the immune system.

The rising health awareness among consumers in the Asia Pacific region is projected to account for the largest market size during the forecast period

Consumers in the Asia Pacific region are well aware of the health benefits of probiotics, due to the widespread presence of the Japanese brand “Yakult.” China and Japan are among the largest probiotic markets in the region, whereas the Australia & New Zealand market is the fastest-growing, with a CAGR of 13.3%. The Asia Pacific region presents immense opportunities for animal probiotic products, as governments are becoming increasingly concerned about the health and productivity of farm animals. Health deterioration in animals due to the use of AGPs has also encouraged livestock owners to use probiotic-based feed. The application of probiotics is estimated to increase at a fast pace in the Asia Pacific, due to the rising consumer demand.

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