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SAN FRANCISCO, Feb. 10, 2022 /PRNewswire/ — The global probiotics market size is expected to reach USD 111.21 billion by 2030, according to a new study by Grand View Research, Inc.It is expected to expand at a CAGR of 7.5% from 2021 to 2030. The increasing prominence of preventive healthcare is among the major factors propelling the demand for probiotics across the globe. The considerable production and consumption of probiotics are complemented by innovations in probiotics by key players, most notably in countries such as China, Japanand India.
Key Insights & Findings from the report:
- Based on product, probiotic food and beverages emerged as the largest segment in 2021. Cereal-based fermented beverages with probiotic content are being consumed extensively across the globe, thereby favoring the growth of the segment
- By ingredient, the bacteria segment is expected to dominate the market throughout the forecast period. The segment is driven by the increasing employment of bacteria to maintain urogenital health/ vaginal health
- In terms of end-use, the animal probiotics segment is expected to register the fastest growth rate of 7.7% over the forecast period. Increasing focus on the enhancement of animal health has been fueling the demand for probiotics for animal nutrition
- Asia Pacific held the largest share in 2021 and is expected to be the fastest-growing regional market over the forecast period. New prebiotic launches, innovations in probiotic delivery systems, and the presence of key players have laid the platform for healthy and strong growth of the region over the forecast period
- The probiotic industry is subject to intense rivalry among prominent market players. Product innovation, mergers & acquisitions, and portfolio expansion are some of the key strategies deployed by the key players
Read 135 page market research report, “Probiotics Market Size, Share & Trends Analysis Report By Product (Probiotic Food & Beverages, Probiotic Dietary Supplements), By Ingredient (Bacteria, Yeast), By End Use, By Distribution Channel, And Segment Forecasts, 2021 – 2030“, published by Grand View Research.
Following the growing demand for probiotics, key market participants have been investing in R&D activities to develop efficient probiotic strains. The probiotics industry has also witnessed advancements in delivery systems to enhance the delivery of probiotics in humans and animals Such developments are expected to emerge as a trend in the industry over the forecast period. In …
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