- Opportunity and Forecast, 2016 - 2025
Probiotics are microorganisms formulated into a preparation, which is taken orally to restore beneficial bacteria in the body. As per the World Health Organization (WHO), probiotics are live microorganisms that are administrated into the body in adequate amount for health benefits of the host. These are beneficial for skin conditions, urinary health, allergies, cold, and others. They also reduce severity of antibiotic-associated diarrhea and control blood pressure. Various ongoing R&D activities for probiotics and their effects are under way. Scientific studies have reported that probiotics have the ability to strengthen the immune system and enhance the gut and digestive system.
Growth in functional food market and rise in health concerns are major factors that drive the growth of the global probiotics market. However, lack of awareness and standardizations issues limit this market growth. On the other hand, technological advancements and ongoing R&D activities are expected to provide new opportunities for industry players.
The global probiotics market is segmented based on end user, application, and geography. By end use, the market is bifurcated into humans and animals. The application segment is further classified into functional food & beverages, animal feed, and dietary supplements. Geographically, the market is studied across North America, Asia-Pacific, Latin America, Europe, and Middle East and Africa.
Key manufacturers operating in the industry are Arla Foods, Inc., BioGaia AB, Chr. Hansen Holding A/S, Danone, Danisco, General Mills Inc., I-Health Inc., Lallemand Inc., Lifeway Foods, Mother Dairy, and others. These players have formulated partnerships, joint ventures, collaborations, expansion, mergers & acquisitions, new product launches, and others as their development strategies to strengthen their position and gain a competitive edge in the industry.
Progressive Markets published a report, Metal Strapping Industry - Size, Trend, Share, Opportunity Analysis & Forecast, 2016-2022, which says that the market was valued at $1,892 million in 2016 and is expected to reach $2,746 million in 2022, growing at a CAGR of 4.3% from 2017 to 2022. Read More >>